FX Strength Pro Pullback
- Indicators
- Version: 8.3
1. STRUCTURAL STRENGTH (0-9 Scale)
The indicator analyzes each currency's position relative to its daily range across all 28 major pairs:
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Price position within the daily high/low range is converted to a 0-9 score using a statistical distribution model
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Base currency receives a score proportional to its strength
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Quote currency receives the inverse score (9 - base score)
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Final structural strength = average score across all pairs the currency participates in
STRONG currencies (score ≥ 6.0) → Potential BUY base WEAK currencies (score ≤ 3.0) → Potential SELL base
2. MOMENTUM STRENGTH (Centered Around Mean)
Calculates short-term momentum using configurable lookback windows:
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Uses M5 for 1-2 hour lookbacks (higher granularity)
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Uses M15 for 3-4 hour lookbacks
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Scores are mean-centered to show relative momentum (-4.5 to +4.5)
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Positive = gaining strength relative to peers
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Negative = losing strength relative to peers
3. PULLBACK DETECTION ENGINE
The indicator looks for currencies that are:
| Condition | Meaning |
|---|---|
| Structurally Strong (≥6.0) | Long-term bullish bias |
| Structurally Weak (≤3.0) | Long-term bearish bias |
| Strong Currency Weakening | Temporary pullback in the strong currency's momentum |
| Weak Currency Rising | Temporary bounce in the weak currency's momentum |
This creates an entry opportunity — entering during the pullback in the direction of the structural trend.
