INVITE-ONLY SCRIPT
Signals Pirate™ Currency Strength Indicator
SignalsPirate™ Currency Strength package was created to take your Forex trading to the next level. With a simple yet intuitive display of the underlying strength of all major currencies it’s a great tool to add to your arsenal, or even as your sole trading strategy component!
The only input required to fine tune the underlying logic is the ‘Length’ variable, this can be adjusted to alter the look back period for strength determination. This metric is calculated using a combination of strength indicators such as the RSI, Stochastic, ADX and more applied to the underlying currency index, such as the DXY for the USD. When the Currency Strength value increasing for any given currency, it’s a great indication that there is great underlying strength as the currency becomes more valuable in comparison to other currencies; and vice versa as the value decreases.
The default settings are the best settings we’ve found so far but you can change them to build your own unique trading strategy. We’d recommend experimenting with values to find the best results for the asset you are trading, and your own personal trading and investing style.
Direction for use:
1. Use on any asset (preferably Forex) and time frame.
2. Fine tune the Length input and customise the visuals.
3. Watch for divergences between strong and weak currencies as the strength value increases/decreases.
4. Consider longing currencies that are showing overwhelming strength vs currencies that are showing weakness, and do the opposite for short trades. For example, if the USD is massively increasing in strength and the EUR is decreasing, shorting EURUSD may be a trade to watch.
5. Be aware of the strength values changing, closing trades as the divergences decrease is sensible.
As mentioned previously, this is a strength system that dynamically operates to function with superior accuracy regardless of what currency you’re trading. But with the level of customisation available, this can easily be fine tuned to accommodate scalping, reversal trading, or even long term investing.
We hope you love this Forex and Currency Strength tool, and it takes your trading and investing to the next level. Please let us know if you have any questions or queries, or if you have any suggestions for improvements etc. We love your feedback and are constantly striving to continuously improve!
The only input required to fine tune the underlying logic is the ‘Length’ variable, this can be adjusted to alter the look back period for strength determination. This metric is calculated using a combination of strength indicators such as the RSI, Stochastic, ADX and more applied to the underlying currency index, such as the DXY for the USD. When the Currency Strength value increasing for any given currency, it’s a great indication that there is great underlying strength as the currency becomes more valuable in comparison to other currencies; and vice versa as the value decreases.
The default settings are the best settings we’ve found so far but you can change them to build your own unique trading strategy. We’d recommend experimenting with values to find the best results for the asset you are trading, and your own personal trading and investing style.
Direction for use:
1. Use on any asset (preferably Forex) and time frame.
2. Fine tune the Length input and customise the visuals.
3. Watch for divergences between strong and weak currencies as the strength value increases/decreases.
4. Consider longing currencies that are showing overwhelming strength vs currencies that are showing weakness, and do the opposite for short trades. For example, if the USD is massively increasing in strength and the EUR is decreasing, shorting EURUSD may be a trade to watch.
5. Be aware of the strength values changing, closing trades as the divergences decrease is sensible.
As mentioned previously, this is a strength system that dynamically operates to function with superior accuracy regardless of what currency you’re trading. But with the level of customisation available, this can easily be fine tuned to accommodate scalping, reversal trading, or even long term investing.
We hope you love this Forex and Currency Strength tool, and it takes your trading and investing to the next level. Please let us know if you have any questions or queries, or if you have any suggestions for improvements etc. We love your feedback and are constantly striving to continuously improve!
Invite-only script
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact SignalsPirate for more information, or follow the author's instructions below.
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Author's instructions
″Trade like Pirates! | Visit our website https://signalspirate.com/ to request access to our invite-only scripts!
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