Converting Xmeter into an indicator - page 3
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Isn't that same as ccfp?
nbtrading
That really is probably the ccfp indicator (even more judging from the name)
Thank you Mladen, for considering the idea. Yes it is feasible; I know at least 2 systems that use the principle. One is the Appollo currency meter - but of course there are other features I am suggesting that are not this one or similar indicators.
Jozy
xmeter is, in effect, more like the currency heat map than the ccf (it is simply showing the ratio of current close compared to current day range. It can be made, but is that what you had in mind as a "strength" indicator
Isn't that same as ccfp?
What I'd love to have is a currency strength indicator. Borrowing features of the ccfp or similar to enable customisations, such as alerts on zero (or other chosen levels) cross or currency line crosses. The difference between the Appollo and ccfp is that speed. The former is fast, probably based on nonlag ma. See what you can do,Mladen. Thank you.
nbtrading
That really is probably the ccfp indicator (even more judging from the name)
Jozy
xmeter is, in effect, more like the currency heat map than the ccf (it is simply showing the ratio of current close compared to current day range. It can be made, but is that what you had in mind as a "strength" indicator
What I'd love to have is a currency strength indicator. Borrowing features of the ccfp or similar to enable customisations, such as alerts on zero (or other chosen levels) cross or currency line crosses. The difference between the Appollo and ccfp is that speed. The former is fast, probably based on nonlag ma.
Will check what can be done (since then I will have to change somewhat the xmeter calculation)
Also, the fxmcsm is based on xmeter, I thought, as seen on attached png. See what you can do,Mladen. Thank you.
Looks interesting
Maybe a bit latter I give it a shot to make something that looks exactly like that
Looks interesting
Maybe a bit latter I give it a shot to make something that looks exactly like that
Great!
Looks interesting
Maybe a bit latter I give it a shot to make something that looks exactly like that
Mladen take a look at this indicator which is based on stochastic by David Hanover over at FF. Very similar to the Appollo.A combination of features of the ROS and fxcms would be very good.
You mean it is simply stochastic from different symbols?
Yes, ROS is based on Stochastic and Appollo is based on RSI.
Here is some info regarding the ROS. "ROS is simpler to setup and use; there are no parameter files to be built. Just attach the indy to your chart, and wait maybe 10-20 minutes while MT4 collects enough data from your br0ker to build the plots.
ROS simply averages out the Stochastic values for every pair referenced by a currency, and plots this average. For example, the GBP plot is the average stochastic value of GBPUSD, GBPJPY, GBPCHF, and so on....... whatever GBP pairs are offered by your br0ker. [Note: in the case of EURGBP, i.e. where the currency is the second listed in the pair, the inverse value (100–X) is used in the averaging process]. And then the same process is applied for each of the other currencies. Hence you can see to what extent a currency is overbought/oversold 'across the board'. As with regular stochastic, being overbought/oversold does not necessarily mean that a reversal is imminent; if a pair trends strongly for long enough, oscillators tend to simply remain in either the top or bottom area of the chart. But ROS may be useful if it confirms other reasons for reversals, e.g. support/resistance." More is here