Strong and Weak FX Pairs
Strong and weak Pairs is a trend following indicator to help you choosing the pairs to trade based on the currency score.
Strong and weak Pairs is comparing currencies position to the moving average for all major pairs then display the position score from Zero (0) to Seven (7) with two lines on the chart. 7 is the strongest currency and zero is the weakest currency. Additionally there is a dashboard displaying all the currencies score to choose the pair you will trade.
Strong and Weak Indicator will buffer 2 lines for each currency attached to the chart. For example if we attach the indicator to EURUSD chart the indicator will draw 2 lines one for EUR and the second for USD.
Please note this is a multi pairs indicator, it is a MUST to load all the 28 pairs chart history to show the correct score.
- History Bars - Number of bars indicator will plot the lines. (input Zero to show all chart history)
- MA Period - Averaging period for calculation.
- MA Shift - Indicators line offset relative to the chart by timeframe.
- MA Method - Moving Average method. It can be any of the value in the drop-down list.
- MA Price - Price field parameter. Can be one of the values available in the drop-down list.
- First Timeframe - Timeframe values to be displayed in the first row.
- Second Timeframe - Timeframe values to be displayed in the second row.
- Enable Dashboard - Turns the dashboard display on or off.
- FontSize - Size of font used in displaying text on the dashboard.
- Up Color - Color of currency with high score.
- Down Color - Color of currency with low score.
- Display Background - Set true to enable background for the dashboard. This is useful when the Chart background color is changed.
- Background Color - Color of the dashboard background if enabled.
The dashboard can be re positioned to any preferable location on the Chart window. To move the dashboard to a new location:
- Select the dashboard header “Strong & Weak Pairs v1.0”
- Drag the header to the preferred coordinate on the Chart window. The contents of the dashboard will follow suit automatically irrespective of a new tick coming in or not.