Currency strength indicator 5min time frame

mlaci65

Junior member
16 0
Hi there!
I made a a currency strenght indicator. It helps me find the safest entries. I just have to find two currency which is going in different directions.
The pictures are an example:
At the 10th of january at 10:30 AM CHF starts to weaken and at that time AUD is already strenghtening.
So its optimal to make long position on AUD/CHF.
2019-01-10_CHF_PUMP.png
 

mlaci65

Junior member
16 0
Hi everyone!
I made a video with my son to make some things clear about my system.
It’s short and maybe we missed some points, but if needed we will make another one.
 

mlaci65

Junior member
16 0
Hi everyone!

My system watches this many currency pairs, so that we can safely assume the direction of the currencies. The data always comes from the present, not from the past.

Let's look at this picture. At that day looking after the trendlines, we can conclude that the CHF is weakening. On it's own this information is not enough. We have to find another currency which shows this much of trend in the opposite direction, and with the same strenght.(I mean that most of the pairs where that currency is in shows that currency is strenghtening.)

In my system i search these opportunities where the currencies show the most contradiction, so the direction i am betting money on, is established with the most information i can get.

With these precautions we can determine the big trends, the trends that are set by the big national banks. From the picture we can assume that it's the Swiss National Bank's interest to weaken their money, and it would be stupid to bet against them.
2019-01-10_CHF_trendline.png
 

NVP

Legendary member
36,279 1,787
hey there ....always happy to talk ...been trading forex strengthmeters for 20 years

N
 

NVP

Legendary member
36,279 1,787
hey M

great to see someone’s else discussing strengthmeters

are you using an MA based system to show directional strengths of the currencies ?

or something else ?

looks interesting

N
 

mlaci65

Junior member
16 0
Hi
I show you an interesting state
live positions create the table
only the positive state writes in the table
2019-02-27_dem_virt_val1.png
 

NVP

Legendary member
36,279 1,787
Which currency strenght indicator is the best?
its not really a question of what is best as there are so many variations and derivatives of this type of indicator

Presentation :- you have Heatmaps which represent real time data only (no historic data) , and then more time based traditional indicators (historic data shown on charts).

Indicator methods :- you can have just about any form of method / algorithm that drives the indicator. these can be based around the traditional indicators available for TF based charts (and non timebased charts like Renko and Range bars).

MA based
RSI based
ATR based
CCI based
MACD based
the list is endless .....

my main expertise is using MA based strengthmeters ....(for example my free FXCorrelator) ...but i have worked with most other algorithmic derivatives as well in partnership with some great traders and programmers

my advice is to start with something simple and understandable (like an MA based strengthmeter)