Hello,
I was wondering if anybody was able to help me create an indicator.
The Idea would be like a MACD only using relative strength of the two currencies in the pair, rather than moving averages. Looking at KG's RS indicator that I have attached, you will notice that it puts the RS of the currencies against each other. Watch only the two currencies in the pair on the same time frame as your chart, along with heiken on. And you will notice an almost exact correlation.
Target Goal:
As the primary currency spreads up from the secondary currency the RSACD would go up just like the MACD, when they cross it would pass the middle. And as the secondary currency spreads higher then the primary the RSACD would go down. It would be nice to also have a maximum of 100 and minimum of 0. As well as have the ability to add a center zone to spot a ranging vs trending market.
I believe that this would be an extremely powerful indicator and much appreciate anyone's help.
Thanks
Ron
I was wondering if anybody was able to help me create an indicator.
The Idea would be like a MACD only using relative strength of the two currencies in the pair, rather than moving averages. Looking at KG's RS indicator that I have attached, you will notice that it puts the RS of the currencies against each other. Watch only the two currencies in the pair on the same time frame as your chart, along with heiken on. And you will notice an almost exact correlation.
Target Goal:
As the primary currency spreads up from the secondary currency the RSACD would go up just like the MACD, when they cross it would pass the middle. And as the secondary currency spreads higher then the primary the RSACD would go down. It would be nice to also have a maximum of 100 and minimum of 0. As well as have the ability to add a center zone to spot a ranging vs trending market.
I believe that this would be an extremely powerful indicator and much appreciate anyone's help.
Thanks
Ron
Attached File(s)
KG RS GROUP V1.1.mq4
18 KB
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561 downloads