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Strength meter

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Ingvar Engelbrecht
4536
Ingvar Engelbrecht  

Before starting coding a relative stength indicator that compares the major pairs with each other I wonder if there is any good MT4 versions around.

Have tested 2 but are not happy with the results

Alexander Voronkov
24670
Alexander Voronkov  
Ingvar Engelbrecht:

Before starting coding a relative stength indicator that compares the major pairs with each other I wonder if there is any good MT4 versions around.

Have tested 2 but are not happy with the results

Aye!
Ingvar Engelbrecht
4536
Ingvar Engelbrecht  

Not much.

So, any good ideas on how to make an indicator like this?

PRADIP RUPARELIA
4145
PRADIP RUPARELIA  
upto date accurate reliabe
Files:
Ingvar Engelbrecht
4536
Ingvar Engelbrecht  
upgradeableea:
upto date accurate reliabe


  And?

That is just a picture.  More info please

PRADIP RUPARELIA
4145
PRADIP RUPARELIA  

There are plentry of free ones around , none with a single answer  of  what is the strength.

 

Add the strength of all time frames , giving more emphasis to 1 hour and 4 hour  and dailies.............but also the lower time frames for entry 

Stanislav Korotky
23351
Stanislav Korotky  
Here is just one example - https://www.mql5.com/en/articles/1472
Practical Application of Cluster Indicators in FOREX
Practical Application of Cluster Indicators in FOREX
  • 2007.09.03
  • Simeon Semenych
  • www.mql5.com
Cluster indicators are sets of indicators that divide currency pairs into separate currencies. Indicators allow to trace the relative currency fluctuation, determine the potential of forming new currency trends, receive trade signals and follow medium-term and long-term positions.
David Raine
140
David Raine  
Ingvar Engelbrecht:

Before starting coding a relative stength indicator that compares the major pairs with each other I wonder if there is any good MT4 versions around.

Have tested 2 but are not happy with the results

I guarrantee you'll never find one that will make you happy, so it is best for you to go ahead write your own. That's how innovation happens!
Ingvar Engelbrecht
4536
Ingvar Engelbrecht  
David Raine:
I guarrantee you'll never find one that will make you happy, so it is best for you to go ahead write your own. That's how innovation happens!
Of course you are right. I am just lazy. I guess there are many ideas on how floating around.  Anyone?
Marco vd Heijden
Moderator
6149
Marco vd Heijden  

i usually add up then divide like so

   high[i]=
            ((iHigh("USDCHF",period,shift)-iOpen("USDCHF",period,shift))+
            (iHigh("USDCAD",period,shift)-iOpen("USDCAD",period,shift))+
            (iOpen("NZDUSD",period,shift)-iLow("NZDUSD",period,shift))+
            (iOpen("AUDUSD",period,shift)-iLow("AUDUSD",period,shift))+
            (iOpen("GBPUSD",period,shift)-iLow("GBPUSD",period,shift))+
            (iOpen("EURUSD",period,shift)-iLow("EURUSD",period,shift)))/6;

   low[i]=
           ((iOpen("USDCHF",period,shift)-iLow("USDCHF",period,shift))+
           (iOpen("USDCAD",period,shift)-iLow("USDCAD",period,shift))+
           (iHigh("NZDUSD",period,shift)-iOpen("NZDUSD",period,shift))+
           (iHigh("AUDUSD",period,shift)-iOpen("AUDUSD",period,shift))+
           (iHigh("GBPUSD",period,shift)-iOpen("GBPUSD",period,shift))+
           (iHigh("EURUSD",period,shift)-iOpen("EURUSD",period,shift)))/6;


and display like so

however as many said you need to know exactly what strength you are interested in.

for timeframes i usually do like so


JD4
1100
JD4  
Ingvar Engelbrecht:


  And?

That is just a picture.  More info please

Look up the indi name in the linked file name.  See if that gets you there.  I say it this way because not all the indis I have seen are listed on the platform or here on this site.
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