I want to share with you this indicator that I made that shows the currency Strength/Power/Value (whatever you want to call it) What it’s doing is looking at all 28 pairs and then taking apart the movement as a percentage and reconstructing the individual components of each currency pair. There 2 display options that will give you 4 different outputs.
I’ve been reading this and the other Currency Strength threads recently. A simple idea popped up in my mind. Thanks to you, I was able to see the mq4 code and modify it for that simple idea. I wanted to see the difference between fastest 1 and fastest 2 (called it delta_fastest) as well as slowest 1 and slowest 2 (delta_slowest). And depending on the change of those delta_ variables -I thought- maybe we can deduct/anticipate the motion of the pair.
I’m attaching the resulting indicator window2s picture for USDJPY M15 today.
What do you think of the approach? Maybe we can add color change to the new delta line (slowest) or we may look for the points where delta_fastest crosses delta_slowest. Both options seemed promising to me (but of course I have to develop my mq4 coding skills quite a lot for this).
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Nothing has ever motivated me more than this...