Simple indicator implementing relative strength against the equally weighted basket of major currencies. Perhaps I will coin it the Equally Weighted Index (EWI) and trademark it like ICE did with DXY.
usd = (usdjpy/100 + usdcad + 1/gbpusd + 1/eurusd + usdchf + 1/audusd + 1/nzdusd)/7
DXY is hard to compare against other indices because of it's weightening....
This currency strength indicator displays the strength for the displayed currency pair only.
The following currencies are supported: AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD
Base currency is indicated by a blue line. Counter currency by a green line.
Double click on a line to open the settings window to change line colors or the possition of the dashed lines.
Go long if RSI crosses over 30 or 60. Go Short when RSI falls below 60. Back testing gives good amount of success and can be used in 3/5/15/30/60 minutes time frame with HeikinAshi charts. Don't use normal candles to reduce noise.
Directional movement indicator for assessing price direction and strength. DMI tells you when to be long or short, differentiating between strong &weak trends. DMI works on all time frames and applicable to any asset.
DMI is a moving average of range expansion over an input period. The positive directional movement indicator ( +DMI ) measures how strongly price...
The strength of a stock relative to the S&P 500 is key part of most traders decision making process. Hence the default reference security is SPY, the most commonly trades S&P 500 ETF.
Most profitable traders buy stocks that are showing persistence intermediate strength verses the S&P as this has been shown to work. Hence the default period is 63 days or 3 months.
Checks the correlation between 10 of the Major Currency pairs.
Currency pairs includes: EURUSD, AUDJPY, AUDUSD, EURGBP, EURJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY.
