Currency Strength Calculator Strategy Discussions

[Pharaoh]

I see what you mean, but if you look at weekly or monthly bars in most trading platforms, you'll see that a currency can have a good or bad week or month.

Personally, I'm hoping whoever programmed this thing comes out with a way to display it on graphs. Shifting the timeframes would make what's happening during strength changes a little easier to figure out.

 

[Taro]

Gbp/chf

I still don't know how to use it for the GBP/CHF, is there someone that can tell me, giving an exemple maybe ? Thank you!

 

[4051fx]

Here's i'm doing: Coz i want to use it in daily trading i will filter 2 days before and get the appreciate anda depreciate. Enter the market based on calculator as much pair as you can, then close them at the next day. Simple but until today it seems can make you good consistent profit. Please correct me if i wrong

 

[KJSen]

Calculator Strategy

I don't want to know the actual intricacies of the calculator, it's none of my business. But for trading purposes could you please tell me if it calculates:

1. Sentiment.
2. Price level.
3. All of the above, meaning exponential.

Thank You,

Keith

 

[prozan]

currency calculator best tf

hi felix.
i really appreciate your efforts as regards the CC. honestly, its good work. my view is that the calculator does not work very accurately on daily and weekly charts. i find it very useful with the monthly charts. anyway this is going by last week end last month.
my question is; is this calculator actually meant for long term trades so that one does not use it wrongly? thanks a lot.

 

[rpaco]

I still don't know how to use it for the GBP/CHF, is there someone that can tell me, giving an exemple maybe ? Thank you!

Taro
If you want to use this currency RELATIVE strength indicator then pick a strong one ie in Felix's prediction (but I have doubts in the short and mid term) the CHF and a weak one. GBP and then short the CHFGBP or go long GBPCHF. not all brokers/spread bet providers offer all pairs both ways round.
(I use Capital Spreads and their spreads are different in one direction to the other in some cases so its worth looking at both ways)

I would be interested to know how the figures are calculated eg take GBP against seven other currencies, take the percentage rise or fall in each pair then add the seven and divide by seven or is it weighted by the trading volume? In which case cable and fiber would predominate and influence the figures (ok I am guessing on the volumes)

42

 

[rpaco]

May be good to know the strength of the currency of last week, month or year, to have a better global understanding of the currencies that we plan to trade and be more informed so we can make betters decisions in our trades, Do you think is possible to get the actual Strength of the currencies?

No it's a relative strength indicator, one currency against the other 7 in the list. There is no absolute value, currency has no absolute value since the gold standard was abolished.You might want to plot the currency pairs against gold or to work out the price of gold or oil or bananas in each currency but in effect you would still only be doing the same thing, just one step further away. That of course assumes the price of gold is a constant, which it is not.
There is often a close correlation in time of movement and movement direction between the cable (and most others) price and the FTSE (UKX) and/or the NASDAQ (INDU).

It's a pity that MT4 does not allow many lines on one graph, (please correct me here and tell me how to do it) however if you have an ADVFN account it is quite possible to show several currency pairs together with UKX or INDU on their chart pages. I have spent a long time trying to find which one was leading, but it is almost impossible to discern.

 

[joce3515]

Calculator read 0% accross the board

Have this calculator up on my site and for awhile now it has been reading 0% accross the board. Is it now working? It reads the same here on Peach Army.
What's up with that?
Joce

 

[Pipster61]

0% calculator


I too read nothing but zero % on all currencies, no wonder my trading skills suck!

 

[anitabr90]

Currency Strength Calcular Strategy

Hi, I was wandering, I just found out about this caculator last week, but i tried to see this week's and it didn't have that option... is this normal?? do they usually have it up every week? please someone reply I would really appreciate... Thank You!!