Indicators: INDICATOR Currency Strength Meter - MT4 - page 2
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I'm getting totally different values for USD. I am not using all symbols like you are, just the 28 pairs, where 7 include USD. You need to limit your pairs to the 28.
Hey @Donald R Isbell Jr, thanks for showing interest in my trading tools.
Concerning the number of currency pairs, you're right. I saw lot of videos saying to limit the currency pairs to only those with USD. Yet I believe it is better to include all currency pairs since it will give us more robust information on which currencies are strengthening and which ones are weakening. Not sure if you had the time to watch the video tutorial that I've inserted, but take a look on it. I explain all the details about this trading tool !
Hey @Donald R Isbell Jr, thanks for showing interest in my trading tools.
Concerning the number of currency pairs, you're right. I saw lot of videos saying to limit the currency pairs to only those with USD. Yet I believe it is better to include all currency pairs since it will give us more robust information on which currencies are strengthening and which ones are weakening. Not sure if you had the time to watch the video tutorial that I've inserted, but take a look on it. I explain all the details about this trading tool !
I use the 28 pairs because it equally weighs all currencies against each other. 8 currencies. 7 "pairs" each. If you, for example, include gold, you throw off that balance. Just my 2 cents. I think one of your videos, for breakout strength, or currency strength, does mention using 28 pairs, yet you don't do that.
I use the 28 pairs because it equally weighs all currencies against each other. 8 currencies. 7 "pairs" each. If you, for example, include gold, you throw off that balance. Just my 2 cents. I think one of your videos, for breakout strength, or currency strength, does mention using 28 pairs, yet you don't do that.
Can you share with me the link of the video in which I don't do it ?
Hello.
So, in theory, if you modify the code, it is possible to have this tool do the same analysis for Cyptocurrency pairs.
For example, my broker offers BTCUSD, ADAUSD, ADABTC, ETHUSD, ETHBTC, LTCUSD, LTCBTC, LINKUSD, LINKBTC, AAVEUSD, AAVEBTC and other.
If I were to place these pairs in my watchlist and have the same code modified for this, it should work...correct?
Hello.
So, in theory, if you modify the code, it is possible to have this tool do the same analysis for Cyptocurrency pairs.
For example, my broker offers BTCUSD, ADAUSD, ADABTC, ETHUSD, ETHBTC, LTCUSD, LTCBTC, LINKUSD, LINKBTC, AAVEUSD, AAVEBTC and other.
If I were to place these pairs in my watchlist and have the same code modified for this, it should work...correct?
Hey @Baystreamer
Exactly ! you can use it for precious metal, indices, crypto, etc.
Interesting idea. Unfortunately it does not appear to be possible to get this working on MT4 ...and yes, I know, attach it to a chart (try the majors first) and sit back and admire the results ...except that the result is a weirdly flickering screen followed by a total crash of all, and any, of the currently loaded charts. Unfortunately this is true of both the Breakout Strength and the Currency Strength meters, plus they both (unfailingly) crash the MT4 editor ...so I have deleted them, post haste, as malware.
- QInteresting idea. Unfortunately it does not appear to be possible to get this working on MT4 ...and yes, I know, attach it to a chart (try the majors first) and sit back and admire the results ...except that the result is a weirdly flickering screen followed by a total crash of all, and any, of the currently loaded charts. Unfortunately this is true of both the Breakout Strength and the Currency Strength meters, plus they both (unfailingly) crash the MT4 editor ...so I have deleted them, post haste, as malware.
- Q@QPuCoV9jqQepU4Xp hi,
You should know that in order for this to work, you have to have all the latest data of all 28 pairs. Therefore, when you first launch MT4, you don't have the latest data and when you run this indicator on your chart, the indicator will try to download all the latest required data of all 28 pairs, so it will take time to download them which is normal and sometimes even more time in case you have bad internet, or your computer is a low quality one. So yeah in this case it will crash, NOT because of the indicator, but because of your low cost computer or internet.
Remember, this trading tool and the breakout strength meter will get the latest data, so it works best for traders who can keep their MT4/MT5 open 24 hours not for those who just open their trading platform for couple of hours every day. Or you can switch back to the script version of this trading tool; I developed this version for those who can't afford running their trading platform 24/7
Hopefully this answer your concern.
Cheers.
I wish I could test it, but for me it crashes the chart
Hey @cozyman no worry. You can try the script version of this trading tool. I already answered few guys about what you are saying.
"You should know that in order for this to work, you have to have all the latest data of all 28 pairs. Therefore, when you first launch MT4, you don't have the latest data and when you run this indicator on your chart, the indicator will try to download all the latest required data of all 28 pairs, so it will take time to download them which is normal and sometimes even more time in case you have bad internet, or your computer is a low quality one. So yeah in this case it will crash, NOT because of the indicator, but because of your low cost computer or internet.
Remember, this trading tool and the breakout strength meter will get the latest data, so it works best for traders who can keep their MT4/MT5 open 24 hours not for those who just open their trading platform for couple of hours every day. Or you can switch back to the script version of this trading tool; I developed this version for those who can't afford running their trading platform 24/7
Hopefully this answer your concern."