Currency Strength based on last Candle
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What is the best way to achieve the following?
I want a loop that will get the pip value of last weekly/daily/H4/H1 candle (input parameter) of all 28 pairs. Based on this value, it will show me a list of currencies from strongest to weakest?
Can someone please help me? Thanks in advance.
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As you are asking for the best way, it is to (pay someone?) make a custom indicator
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You are right. I made that decision to pay "fxdreema" to use the utility so I can make this myself!
That said....any direction to achieve this would be very much appreciated.
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... buying tools and working with tools are two different things
... what do you mean by pip value? because I think you dont know exactly what are you asking for ... there is no pip value of candle, but there is candle size in pips ...
... next, each currency have different average movement, some currencies have small movement for all period (EURCHF) and other have huge movement (GBPJPY) ... you can not sort it only based on this size .... you must create another logic for sorting based on some % movements, you can do it with indicators like RSI, stochastic, % change in moving averages, etc...and when you create it, you must have custom code used in fxdreema for sorting, and some arrays ...
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and it is not that long, where I helped you with this, with all custom code and arrays for sorting:
https://fxdreema.com/forum/topic/5851/select-the-top-5-variables
... you must only take this concept and use it in your different strategies ...
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Thanks for your help. My apologies I was not very clear in what I was asking. So here is it with more clarity. I appreciate any help.
I want to get the body size of Candle(1) of all 28 pairs. Once I get this, I want to use this information to get a value (strength/weakness) for each of the 8 Currency. This value will tell me how strong/weak each of the currency ended up after the close of Candle(1)
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candle size is not the strength of the pair or currency and you can not use candle size alone
... you must calculate some % from candles, or use indicators as RSI -
@yalgaar - the candle size won't tell you that... you may be better off using the close of candle 1 divided by close of candle 2, which is how much price changed on the last trading day (in relative terms), which then MAY be used to say whether the pair is strong or not.
