Hello guys, First of all I hope you guys had a great Christmas which will be followed by a massive new years celebration! Im looking for an indicator which will automatically calculate the strength and weaknesses of the currencies offered by my broker. I'm currently using Go market. An example of what I am looking for can be seen at this website. But if you proceed to Google and search for "Vertue trading fxo pressure gauge" if should be one of your first links that pops up.

It goes under the name of "Pressure Gauge" and does exactly what I'm looking for "The PressureGauge calculates the relative strength and weakness of the major currencies, and is used to select the best currency pairs to trade.

Does anybody know any indicator like this which can be downloaded preferably for free or for a small cost? My thinkorswim charting platform allows me to see price in terms of percentage of change Not saying u want to do this of course Jay thank heaps for posting. You absolutely right in what you are saying, weather or not the company who promotes this pressure gauge use this solely to enter or exit trades I would have no clue but I certainly hope not! Like you said, it is a piece of cake to figure of this information, I usually do this manually and take note on a piece of paper few times during the day to see what direction the market is going.

Most of anything I thought an indicator of this kind would save me some time as it does the work for me. I'm sitting in the same boat as you as I have no programming skills what so ever.. But if anyone know anything or have the time to put something quick together I would be a happy man. Carl Here's a simple way to do it.

Currency Strength Meter Explained - Currency News Trading

Express every currency you care about in Obamas. Then calculate the average. Say you are looking at Gillard and Merkel. So you have three numbers around 1 while the euro is still worth anything LOL! Take the average and then express your index number as the currency value in usd divided by the average usd value. Bingo - there's your index. Anything above 1 is strong, below 1 weak. I can code up an indicator for you that does this.

Then you get the pictorial version on your screen. And looking at the ratios of the derivatives 1st and second would be particularly interesting. Most crucial - what timeframe are you most interested in? If you could program a indicator that does this I would be for ever thankful.

Currency Strength Indicator — indicator script by aelius / | TradingView

I'm using D1 and H1 charts to execute my trades. Well I've not looked at any of the other links but here's one that I KNOW works although it's not for MT4 nor is it an Indicator:.

But that's not what you're looking for I don't think. Here is a link to the 'original' 'Currency Strength Meter' designed by Henry Lieu:. Currency Meter Currency Strength Meter Forex Meter Forex Indicator. It looks like good 'ol Henry has come a long way since the last time I looked at his site!!!

That's what you're looking for but don't ask me how to use it. I don't trade FOREX. But that's not to say that it DOES NOT have merit i. I'm sure Henry will be more than willing to help you out though. Then of course there's also Google. Just Google the phrase 'currency strength meter' without the quote marks of course and there a a GAZILLION links to 'Currency Strength Meter' most of which will take you to posts and forums where the use of Heny's Currency Strength Meter is discussed.

Couple more weeks, will post a link for members to download the indicator. The logic will be H1 or D1 timeframes Major currencies eur gbp usd chf cad aud jpy Relative strength over - user defined timeframe eg move over last 24 hours, where 24 is variable - user defined moving average eg average of the relative strength over last x periods, say hours would give you a ten day average of the 24 hour relative strength Will start testing this as a trade filter and post results in due course.

Have an indicator to share which - does EUR, AUD, GBP, CHF, JPY, USD - shows relative strength.

Of course you can change these parameters to look longer term. It runs on the H1 timeframe, works on any H1 window, though only really makes sense to attach to one pair, eg EURUSD or AUDUSD and then away you go. Nice thing is that if you have a cross e. Unless you are suicidal. It would also reveal cross trades since it shows all the fundamental value changes. I'm keen to start testing it now as a trade signal and interested to see other people's results too.

Go to our home page and search for "multi" in the 'search this site' option. There you can download the ex4 file which does what you need. A word of warning: It won't cause any issues as you use the indicator to assess relative strength since speed is not an issue once attached. It just has to back-calculate all these relative moves and the code hasn't yet been optimised for speed. Finally, the colour scheme is as follows: Blue - EUR Gold - AUD Pink - GBP Red - JPY White - CHF Green - USD.

There's a logic to this colour scheme which hopefully is obvious. Let us know if it is not intuitive as it is changeable. Mix this up with your favourite candlestick entries and this baby is hot to trot. And the fact that it tells you about the 7 majors means that you can use it to trade all the pairs between them.

I am very interested in testing out this indicator you have coded, but I can't seem to find it on the site. Can you possibly explain a little more on how I can find it? There is more via our Profile page on babypips.

Currency strength/weakness Indicator for MT4 - Beginner Questions - fadukuvo.web.fc2.com Forex Trading Forum

I will test it out during the week this week to see how it would work as a "compliment" to my system. Have any of you ever tried one of these currency strength indicators? One is from Quantum Trading and the other from Mark Boardman and is called Apollo. Here is a link to the 'original' 'Currency Strength Meter' designed by Henry Lieu: Interested to hear how it goes.

Thank you Carl P. Well I've not looked at any of the other links but here's one that I KNOW works although it's not for MT4 nor is it an Indicator: Currency Relation Deltastock But that's not what you're looking for I don't think. Currency Meter Currency Strength Meter Forex Meter Forex Indicator Hmmmnnn Hi Elegy, I am very interested in testing out this indicator you have coded, but I can't seem to find it on the site.