Page 1 of 1
How to compare the strength between 2 items in different dir
Posted: Fri Jun 20, 2014 5:07 pm
by oem7110
AUD/USD is going up, and EUR/USD is going down, and I can only place a single position on either long AUD/USD or short EUR/USD. In this case, I would not consider AUD/EUR, and there are only AUD/USD and EUR/USD for selections.
Does anyone have any suggestions on how to compare the strength between 2 objects in different directions?
Thanks in advance for any suggestions
Posted: Fri Jun 20, 2014 8:11 pm
by sluggo
Have you considered
- Indicator1 = (HH(5 bars) - LL(5 bars)) / (HH(100 bars) - LL(100 bars))
- Indicator2 = SMA(TrueRange, 10 bars) / SMA(TrueRange, 100 bars)
- Indicator3 = Welles Wilder's ADX
- Indicator4 = PrettyGoodOscillator
- Indicator 5 = Chande's Momentum Oscillator
Then you would simply program your trading software to determine: For which tradeable currency-pair is
{your chosen indicator} the strongest?
Posted: Fri Jun 20, 2014 11:23 pm
by oem7110
sluggo wrote:Have you considered
- Indicator1 = (HH(5 bars) - LL(5 bars)) / (HH(100 bars) - LL(100 bars))
This one seems a simple one, but does it simply determine the volatility by comparing short-term/long-term without certain direction?
I get no idea on how to apply on selecting between AUD/USD and EUR/USD,
Do you have any suggestions on how to use it?
Thank you very much for any suggestions :>
Posted: Sat Jun 21, 2014 12:37 am
by sluggo
You asked for suggestions. You received five suggestions. Be thankful.
Posted: Sat Jun 21, 2014 1:22 am
by oem7110
I am very appreciated for all your help
Thank you very much for suggestions :>