Forums Indicator discussion Currency Strength/Power/Value Indicator Reply To: Currency Strength/Power/Value Indicator

#6746
Edington
Participant

    Currency-Strength is a very good indicator, but not by itself only. You need to combine signals from BOTH Currency-Strength AND some kind of Volume indicator. Without Volume indication – the movement is erratic, ranging, or very short and misleading. Volume is the thing that drive price. G.

    I agree with gg53. :good: My tests so far are successful, but there are problems. I got stuck in some trades that ended up working my way, but i would not trade like this in my live account. The reason is that on occasion, the indicator will re-position. So, what effectively I am doing is guessing tops sometimes…I have contemplated using higher timeframes but then the signals often come way to late.  By adding gadi volume indicators seems to give a very nice confirmation of the original signal, and prevents me from jumping the gun. I might try to bring all this under Kiads OHLC or 7 lines as a base for visual reference. For targets, I am still using fib pivots. On a signal, I open several trades, then aim for the pivots in that direction, moving SL accordingly.  Overall, its a diamond in the rough, but very very promising. The key is to adapt it IMO.

    Best,

    Michael

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