How to compare the strength between 2 items in different dir

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oem7110
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How to compare the strength between 2 items in different dir

Post by oem7110 » Fri Jun 20, 2014 5:07 pm

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

sluggo
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Post by sluggo » Fri Jun 20, 2014 8:11 pm

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?

oem7110
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Post by oem7110 » Fri Jun 20, 2014 11:23 pm

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 :>

sluggo
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Post by sluggo » Sat Jun 21, 2014 12:37 am

You asked for suggestions. You received five suggestions. Be thankful.

oem7110
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Post by oem7110 » Sat Jun 21, 2014 1:22 am

I am very appreciated for all your help

Thank you very much for suggestions :>

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