Configurable Currency Strength Meter Flash Apptop
Expand Currency Strength Chart to Maximum Size After Popping Light Boxes Above
Opera Browsers – It was noticed the other day some sort of issue when clicking the ‘ExXpand Box’ if already at its maximum state. The white icon Opera ‘Next’ is fine. The Red icon Opera ‘Stable’ and Blue icon Opera ‘Developer’ have issues. These new Operas use Blink or Web-Kit, a form of Chrome … which is also fine.
If you are viewing on a smaller monitor, the Photo Light Box will automatically overly under-size and crop the meter. Click the grey expand button in the upper right hand corner to maximize the currency chart to its intended size: [see pic below]
You can then better utilize the Browser Zoom to make the currency index whatever size you wish, such as maximized to fit a full 2560 x 1400 27″ monitor.
Maintaining Visual Scale Relativity of the Chart
Relative Strength (RSI) Data of individual Forex pairs is calculated and then subsequently aggregated with like kind. This aggregation is then compared to other currency pair basket aggregations which then ultimately provides us Relative Strength of the underlying currency trend. This in turn gives us money flow into or out of one currency in relation to another.
As the number of currencies that are selected increases, the MAX + MIN visual scale relativity as a whole expands by the furthest outlier. Unless your habit is to trade only 1 or 2 pairs, the MaX number of currencies selected is recommended to provide full relativity. Over time, this will prove beneficial by eliminating what can appear to be “Extreme Moves” … causing unjust, higher positioning leverage.
Minimal Currencies are set here by default to help minimize initial page load speed. However, the opted formula here always uses all Pair Data available regardless of how many Currencies are selected by you. This helps to retain familiar ‘relativity’ when making visual comparisons and provides a consistent visual scale. As noted above though, selecting ALL Currencies will retain more consistent relativity because the MAX + MIN remains more static due to Mean Outliers being included.
Supposed Repainting of Relative Strength History
There is a fairly large group of Currency Strength Meter Indicator users who use it every day, and have for about 1-3 years. We began including it here sometime in 2011. After about six months we began to receive emails claiming that the Weekly time frame is repainting. That the values and line levels had changed since the initial viewing 5-6 months prior. The same goes for lower time frame users that have sent emails noticing the history of the M15 time frame, for example, has changed.
Notice how the Relative Strength of all the Currencies always begins at 0.00%?
As noted above, strengths are outputted on a relative basis. Not relative to themselves, but relative to each other. So then, all Currencies showing 0.00% strengths at the very beginning of the charts to the very left is indicative of Relative Strengths being computed across a static look back period. Regardless of which size chart is chosen to view, the total look back period remains the same.
So for example when H1 is chosen, strength is always measured across a rolling thirty (30) trading day period or about (720) rolling hours. When D1 is chosen for example, strength is always measured and displayed across a rolling (365) trading day period.
Chart history is changing after periods of time because the starting point at which strength is measured from has changed. Why? Because the total look back period has remained static.
Trouble Identifying Time Frame Selected?
Users are having troubles identifying which time frame is selected. This remains true even directly after pressing one of the time frame buttons.
So, well, they are going ahead and sending emails indicating that this is quite the inconvenience for them. That this free resource should be improved for them by making it more convenient to recognize exactly which time frame is chosen.
Notice how the button becomes smaller once pressed?
The time frame selected is a tad shorter vertically. Once a time frame is selected, it will become a tad shorter vertically as illustrated in the pictures below and as seen on the actual strength chart. The top picture has the 15 Minutes button pressed. The lower picture has the Daily time frame button pressed.
15 Minute Time Frame Selected
Daily Time Frame Selected
Mean Reversion Observations
FX, above all other markets, is reliably susceptible to D1+WK+MN Mean Reversion of both buy side and sell side due to Zero Sum theoretical logic with WK+MN presenting lowest risk. Of course risk is reduced tremendously when buying in and around multi-year major support levels. Sell side risk is reduced tremendously when selling in and around multi-year major resistance levels.
I never apply Mean Reversion techniques to Commodity, Equity, or Equity-based CFD sell side due to Inflation Factoring.
JPY finally reverted sharply for us late 2012 and into 2013. Could it now finally be time for GBP to attempt a revert back Home after this multi-year grueling period of consolidation down at the Weekly bottom? A push down to -35% prior to GBP reverting remains a risk, albeit low. The risk appears low from a historical Mean Reversion technical basis and fundamentally low risk due to an overwhelming majority of top world economists agreeing that the BOE is leaning towards rate increases by the end of 2014 into early 2015. Enable all on the Weekly for proper perspective and view Larger Chart
2013-22-12 T09:21:40 Update – Yes. GBP looks good, thus far.
GBP finally broke up out of the consolidation it had been in since 2010. Historic Mean Reversion probabilities tell us GBP is more likely to continue towards the 0.00% Mean now – rather than retracing back 100% to its consolidation, or anchor, area of -27% or breaking lower and testing the previously feared -35% area.Enable all on the Weekly for proper perspective and view Larger Chart
Strength Chart represents the price movement for major currencies measured against other majors. Results shows strength and weakness against a customizable basket of currencies. Useful to detect then identify which crosses have been trending. Gives trend length perspective + OB or OS relativity. Overextended data on higher TFs serve as possible indication for Mean Reversion strategies or to hedge risks. Also a quick way to view correlations. To view the example of ‘Positive Correlation’, isolate EUR+CHF.top
A New Currency Strength Meter Indicator Family for the New Metatrader Builds 600+ is Being Conceived. However, the New 5NITRO+, 6NITRO+, and likely 7NITRO+ are coding priorities #1.
Multiple display configurations and output types is the goal. Ease of use and RAM CPU friendly is a must. Constant position changing Dynamic Rankings to instantly identify strongest vs. weakest is a necessity.
These Dynamic Rankings are trying to be modeled after LeverageFX’s Currency Strength Rankings in Block form …. the App with Green and Red blocks in which the colors are variably weighted dependent on rank. Sort of like a Heat Map.
For anyone who has used this Top Gun software on eSignal in particular that specific CSM template, then you know how useful these instant rankings can be. This information can be especially useful for short term, intraday Traders constantly seeking to match strongest versus weakest as soon the opportunity presents itself, namely following fundamental events such as NFP.
Metatrader 4 coding logic, such as “A single indicator can only occupy one chart location, either the main chart, or a bottom indicator window” in addition to only one output type – increases our coding limitations. However, once the base meter is split into a series of indicators – the possibilities for display combinations and strength calculation variance is increased.
Therefore, we are thinking a family of FLOW+ CSMs is in order to allow for simultaneous meter, graph, and ranking outputs. The series base indicator, to serve as the Father, will be a simple multiple time frame meter marketed initially as an addon to the bottom or top of The New 5NITRO+ Meter … sort of like pictured to the left and to the right of the working beta with the older NITRO+ Original
Bookmark this page and check back in 2015 / 2016
Sizable Machine Resources Required
These tools are not like Stochastics or the ol’ MACD loaded on one single TF. These tools are complex and resource intensive.
It was roughly calculated that 5NITRO+ alone, utilizing one of its 28 pair multiple meter templates, might be performing up to 15,000+ calculations per second during such times as NFP on a multi-decimal Broker. This is assuming about 2 ticks per second on average over that entire 15 minutes following release. As we all know, the initial 1-3 minutes can produce as many as 3-5 ticks per second on pipette Brokers.
These are only the parameter calculations done by the 5N+ meter itself across the 28 pairs over the up to 7 total time frames*. This does not include the additional, whatever automatic internal calculations that are performed per each new tick by the 24 internally-aggregated Indicators themselves such as ADX, Alligator, Accelerator, Awesome Oscillator, etc, etc. These calculations are done automatically within your Metatrader Platform, but only when they are instructed to do so. Such as is what happens when 5N+ is loaded.
*Maximum time frames calculated by 5N+ is 7.0. Mean time frames calculated by 5N+ is about 4.7. Median time frames calculated is 5.0. Minimum time frames calculated is 3.0. The Minimum of 3.0 is when loaded on the Monthly periodocity. Number of time frames used for calculation is dependent on time frame in which the meter is loaded or time frames that the User has selected from the drop down list from within the settings. The influence that each other additional time frame has on the ultimate GLOBAL% is non-linearly variably-weighted. 5NITRO+ automatically adjusts MTF influence / weightings. There is now the option to either ‘quicken’ the response of the entire meter or to ‘smooth’ the response. This new feature is called ‘Time Outlook’. Strength Lokbacks can also now be adjusted which will also have an affect on the response.
Yes, there will be some calculation-per-tick redundancies when adding a CSM, making it similar to that 28 pair template used in the example above. But, we have to plan for Users wanting to run both at the same time, and possibly on a different set of pairs. A User may want to use the CSM to calculate Forex pairs, while using a multiple meter 5NITRO+ configuration on Exotics, CFDs, GOLD, SILVER, OIL, and Equity Indexes or Futures. In doing so, a multiple 5N+ setup could include 50-60 meters, depending on how many Exotics and different CFDs are offered by the particular Broker. This then would push calculation-per-second into the about 25,000-30,000 range.
So then, “Per-Tick Performance” has become an obstacle. Features and number of calculations per tick will need to be eliminated or reduced to
allow for DLL calls (the new MT4+ Builds 600+ may have killed DLL calls to who Metaquotes considers “untrusted 3rd party sources”. which of course means everyone except metaquotes.net is untrusted).
Commercial Tools cannot be created only for those with 24GB RAM and Xeons. We are forced to create them for 32bit 2005-2006 1280×720 15.6″ Laptops runnin’ Windows XP with a max of 3.63GB usable RAM. Because if you are trading Retail Forex in 2014 and do not reside in the United States, these are your most likely machine specs.
New Currency Strength Meters will only be released through the new MetaTrader 4 Market.
Except for the free 3N+, 4N+, and 5N+ updates provided to current NITRO+ Customers, and then possible continued distribution of it allowing for new transactions, all new products will be released through this MT4 App Market.
Although Metaquotes will take 20% of gross, machine binding and encryption is built in. Almost exactly like iTunes + Google Play in theory.
Since this past Spring with Metaquotes killing many 3rd Party application ‘hacks’ that utilize DLL, it seems they will succeed in funneling all new products through their stores and grabbing 20%. All current viable software protection relies on DLL calls.