Forex Currency Strength Index

Forex Currency Strength Index

An indicator of Absolute Currency Strength in chart form, with alerts

4.26 FINANCE
 Forex Currency Strength Index
 Forex Currency Strength Index  Forex Currency Strength Index  Forex Currency Strength Index

For Forex traders - shows a graph of Absolute Currency Strength (Please read http//en.wikipedia.org/wiki/Absolute_currency_strength to understand the concepts).

Note the graph looks much better in the ad-free version.

Set a period (eg M1 M15 D1 etc) a sample (steps of 10) and threshold in %. Get an alert when a currency moves above the threshold for the period and sample you selected.

Same thing when a currency becomes weak and moves below the threshold.

For example
Click on 'Alarm Clock' icon click the plus sign see a dialog to add an alert.
Set an alert for M1/50/0.2 - that is for 50 samples on the 1-minute chart at a threshold of 0.2. Provided the markets are open you should get an alert very quickly meaning a currency has moved more than 0.2% in the last 50 minutes.

Second Example

You set an alert for M5/50/2.0. This means you want an alert when a currency increases OR decreases by 2% on the 5-minute chart relative to a point 50 5-minute periods before (that is 250 minutes).

So if USD has increased by 3.5% and NZD has decreased by 2.1% you get an alert saying "USD/NZD".

Another example

You set an alert for H1/30/5.0 - 30 samples on the 1-hour chart and a threshold of 5% (You need a bigger threshold for longer periods)

Say CAD has decreased 6% but no currency has increased more than 5% (the threshold you set) - you get an alert saying "-/CAD" meaning no rising currency CAD is falling.

You get alerts at the end of each period - that is H1 alerts come at the start of each hour M30 each half hour etc.

Please leave a comment if you do not understand anything I will try and help.

Alerts are handled through Google Cloud Messaging not by polling - so an M1 alert will not be battery heavy as it is not checking every 1 minute - the server does that.

Disclaimer

Forex trading is risky and this is just a tool to help you pick entry points as part of an overall trading strategy. I make no promises that you will become rich through using it and no liability is accepted for any financial damage incurred.


About this version (1.1.8)

Remove all calls to advertising APIs.

Details and Recent Ratings

Size: 3 MB
Version: 1.1.8 by Philip Blandford
Updated: 11 December 2019 (349 days ago)
Released: 27 October 2014
Installations: more than 10 000
 Forex Currency Strength Index
5 Stars: 184
4 Stars: 53
3 Stars: 14
2 Stars: 5
1 Star: 28

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