Configurable Currency Strength Meter Flash App
Buy an Underlying Currency that is Strengthening
Sell an Underlying Currency that is Weakening Larger Version? ((( click )))
Strength Meter 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.
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 being prime. For Example: I never apply Mean Reversion techniques to Equity-based CFD sell side. JPY finally reverted sharply for us (2013) Could it now finally be time for GBP to attempt a revert back Home after this grueling period of consolidation down at the Weekly bottom? A push down to -35% prior to GBP reverting remains a risk, albeit low. (enable all on the Weekly for proper perspective)
Click 5min or 15min or Hourly or 4H or Daily or Weekly or select a Currency to refresh.
Internet Explorer 9, 10, 11 Users may need to switch off ActiveX Filtering to display this Flash-Based App.©2011 Wyeth Partners Scottsdale, AZ United States. Credit to Mataf. PLEASE NOTE: Date Format is Gregorian little-endian, starting with day [ Day/Month/Year ]. All Times GMT. Updates on timeframe bar close per manual refresh [i.e. clicking the Time Frame button, e.g. 5min 15min Hourly 4H Daily or Weekly]. *Currency Strength is calculated using Simplistic RSI and should not be relied upon solely to base trading decisions unless used together with our ClearChart and Nitro+ Indicators.
Maintaining Visual Scale Relativity of The Meter
Simplistic 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.
Expand The Meter to Maximum Size:
If you are viewing on a smaller monitor, the Photo Light Box will automatically overly undersize 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 ZOOM instructions above to make the index whatever size you wish, such as maximized to fit a full 32″ monitor. The chart will retain correct widescreen aspect ratio when doing so.
If you are viewing on a smaller monitor and the Currency Strength Meter Index Graph is too vertically large or you just desire to change the size to better fit in your trading work space, simply change the ZOOM in your browser settings. Although the Currency Strength Index number outputs will sometimes overlap each other when reducing the ZOOM depending on the quantity or Underlying Currencies selected, the structure of the main currency index chart will remain intact.
ZOOM as shown below:
A New Currency Strength Meter Family for MT4 is being conceived.
However, the new Probability Meter suite coding is priority #1. Our time for HEAVY coding and testing only takes place during the northern hemisphere Summer months when global markets are generally less populated leading to less volume and vix. This Summer’s Euro volatility and my former coding partner’s transitioning presented a challenge for this past years’ “best laid plans”.
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.
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 add-on to the bottom or top of NITRO+… sort of like pictured below:
Bookmark this page and check back in 2014 / 2015.
Currency Strength Meter, Submit Review
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