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Does anybody know the calculation/formula for the Currency Strength Meter, like the Hawkeye Fatman, AccuStrength and Currency Meter 3.0 from Henry Liu?
Some of those tools are relatively pricey, and me and my mate wants to code it to work exclusively on NT 7. I am trying to find out how it is calculate but could not find nothing yet. Anybody? We will post the meter here for free download when it is done.
Can you help answer these questions from other members on NexusFi?
The main idea of the currency meter is very simple, it is a comparison of relative strengths. In its simplest and useful form is a plot of the RSI(30m or any other intraday time frame) for all the pairs (and anything else, i.e. indexes, Bonds, etc.) that you care for, all normalized and plotted as oscillators on the same chart. When majority of the pairs are leading, the lagging pair(s) can be traded to follow the other pairs.
Try this simple one, then add your bells and whistles.