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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OK all, I have created an alerts version of this script I'm trying to add some more improvements as well. If I keep getting love like this on my scripts I might keep releasing the betas and giving access to people who trade EURUSD and other 'high weighted pairs' in my basket.
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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,
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has smoothing = 2 instead of 1....
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@420snoop,
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1.6% or so since last post
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@420snoop,
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maybe clearer
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@420snoop, Hey self, just a heads up the EU script is printing SELL again :)
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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 PRO 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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