420snoop

Euro/Dollar Strength

Hey all,

I have been using this strategy for a while, just like my last script ( XAG/USD             Spread) this utilizes my 'holy grail' method of basket weighting (aka why the script is protected).

This script just looks for periods of time when the euro             is gaining against a basket of currencies and the USD is losing vs the basket (and vice versa)

I use this script on the 4H time frame; although I can make this script work for almost any currency pair and time frame I have the most success with EURUSD             4H.

I personally use 3 of these 'strength meters' in triangular arbitrage for EU UJ and EJ            

if I get good feedback and support I may publish the other 2 of the 'triangle' or even make a version that automatically detects the currency pair and adjusts settings accordingly.

Thanks for the feedback and support, hope this helps!

Snoop
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Hi. you did make a masterpiece.
But doesn't it repainted?
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420snoop tlzkrh1029
@tlzkrh1029, if you are having issues feel free to turn up the smoothing and mess with the resolution :) I personally never use this indicator /alone/ to trade. I have published other scripts (like demarker) that I use and I plan to continue publishing more I use when I trade
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@420snoop, Thank you for replying me. hav a nice day :)
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420snoop tlzkrh1029
@tlzkrh1029, you too watch the :moon: friend
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no source :(? does this script use DXY & EXY? and if so how do you accomplish this?
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@Bago, it utilizes neither of those ;)

I could probably make a similar functioning script with those baskets, however.
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Nice strategy, not sure if any repainting is occurring so I shall analyse it over the next few weeks.

Would you by any chance release to source code to analyse and so I could adjust the currency basket to others pairs?
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420snoop Entity
@Entity, have you noticed any repainting? As I mentioned above using a smoothing of >1 will reduce the repainting if there is any
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Entity PRO 420snoop
@420snoop, Not so far but then again if it did I wouldnt notice as I dont check the charts all day and I cannot create a trading alert to double check the validity of the alert against the trade
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Really guys? Whatever strategy has more than 5 Profit Factor is suspect of re-painting. But 87 PF and on top of that 94% Percent Profit... Come on....
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420snoop cristian.d
@cristian.d, turn up smoothing and help me determine if it is; don't just say things like this with no contribution...
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As you can see the indicator has switched from selling to buying off the basket data. Also it has confluence with a gann square and has made a move back up to the 233 MA. The 233 MA and another gann line stand in the way of further up moves but the basket data shows a stronger euro.

Not sure if I agree (especially with the looming italian debt crisis) but we will see how this plays out!
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420snoop 420snoop
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420snoop 420snoop
@420snoop,
snapshot
has smoothing = 2 instead of 1....
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420snoop 420snoop
@420snoop,
snapshot
1.6% or so