Description
Based on the method as used in the following BP thread: https://forums.babypips.com/t/trading-the-trend-with-strong-weak-analysis/
A few notes:
- Calculates and displays the strength of each currency relative to JPY.
- Calculation is performed on 4HR timeframe against the 200SMA
- JPY strength will always be 0 relative to the other currencies
- Can be ran on any chart, as it will always look at the same currencies
- I recommend you run it on the Daily timeframe
- Can take 30 to 60s to load
Suggested screen setup:
using System;
using cAlgo.API;
using cAlgo.API.Internals;
using cAlgo.API.Indicators;
using cAlgo.Indicators;
namespace cAlgo
{
[Levels(-4, -2, 0, 2, 4)]
[Indicator(IsOverlay = false, TimeZone = TimeZones.UTC, AccessRights = AccessRights.None)]
public class CurrencyStrengthJPY : Indicator
{
[Output("USD", LineColor = "DarkGreen")]
public IndicatorDataSeries USD { get; set; }
[Output("AUD", LineColor = "Red")]
public IndicatorDataSeries AUD { get; set; }
[Output("CAD", LineColor = "Blue")]
public IndicatorDataSeries CAD { get; set; }
[Output("NZD", LineColor = "Brown")]
public IndicatorDataSeries NZD { get; set; }
[Output("CHF", LineColor = "White")]
public IndicatorDataSeries CHF { get; set; }
[Output("EUR", LineColor = "GreenYellow")]
public IndicatorDataSeries EUR { get; set; }
[Output("GBP", LineColor = "Gold")]
public IndicatorDataSeries GBP { get; set; }
private MarketSeries sUSD, sAUD, sCAD, sNZD, sCHF, sEUR, sGBP;
protected override void Initialize()
{
TimeFrame tf = TimeFrame.Hour4;
sUSD = MarketData.GetSeries("USDJPY", tf);
sAUD = MarketData.GetSeries("AUDJPY", tf);
sCAD = MarketData.GetSeries("CADJPY", tf);
sNZD = MarketData.GetSeries("NZDJPY", tf);
sCHF = MarketData.GetSeries("CHFJPY", tf);
sEUR = MarketData.GetSeries("EURJPY", tf);
sGBP = MarketData.GetSeries("GBPJPY", tf);
Chart.DrawStaticText("1", "1. Identify strongest pair (must be >2% difference)", VerticalAlignment.Top, HorizontalAlignment.Left, Color.Yellow);
Chart.DrawStaticText("2", "\n" + "2. Confirm trade is in daily/weekly direction", VerticalAlignment.Top, HorizontalAlignment.Left, Color.Yellow);
Chart.DrawStaticText("3", "\n\n" + "3. Draw Support/Resistance", VerticalAlignment.Top, HorizontalAlignment.Left, Color.Yellow);
Chart.DrawStaticText("4", "\n\n\n" + "4. Plot on H1 against 200SMA", VerticalAlignment.Top, HorizontalAlignment.Left, Color.Yellow);
Chart.DrawStaticText("5", "\n\n\n\n" + "5. Idenitify Entry/Exit", VerticalAlignment.Top, HorizontalAlignment.Left, Color.Yellow);
}
public override void Calculate(int index)
{
var dUSD = (double)(getResult(sUSD, USD, index)) / 100;
var dAUD = (double)(getResult(sAUD, AUD, index)) / 100;
var dCAD = (double)(getResult(sCAD, CAD, index)) / 100;
var dNZD = (double)(getResult(sNZD, NZD, index)) / 100;
var dCHF = (double)(getResult(sCHF, CHF, index)) / 100;
var dEUR = (double)(getResult(sEUR, EUR, index)) / 100;
var dGBP = (double)(getResult(sGBP, GBP, index)) / 100;
Chart.DrawStaticText("Labels", "USD:" + "\t\t\n" + "AUD:" + "\t\t\n" + "CAD:" + "\t\t\n" + "NZD:" + "\t\t\n" + "CHF:" + "\t\t\n" + "EUR:" + "\t\t\n" + "GBP:" + "\t\t", VerticalAlignment.Top, HorizontalAlignment.Right, Color.Yellow);
Chart.DrawStaticText("USD", "\t" + dUSD, VerticalAlignment.Top, HorizontalAlignment.Right, Color.DarkGreen);
Chart.DrawStaticText("AUD", "\n\t" + dAUD, VerticalAlignment.Top, HorizontalAlignment.Right, Color.Red);
Chart.DrawStaticText("CAD", "\n\n\t" + dCAD, VerticalAlignment.Top, HorizontalAlignment.Right, Color.Blue);
Chart.DrawStaticText("NZD", "\n\n\n\t" + dNZD, VerticalAlignment.Top, HorizontalAlignment.Right, Color.Brown);
Chart.DrawStaticText("CHF", "\n\n\n\n\t" + dCHF, VerticalAlignment.Top, HorizontalAlignment.Right, Color.White);
Chart.DrawStaticText("EUR", "\n\n\n\n\n\t" + dEUR, VerticalAlignment.Top, HorizontalAlignment.Right, Color.GreenYellow);
Chart.DrawStaticText("GBP", "\n\n\n\n\n\n\t" + dGBP, VerticalAlignment.Top, HorizontalAlignment.Right, Color.Gold);
}
private int getResult(MarketSeries Ticker, IndicatorDataSeries result, int index)
{
MovingAverage ma = Indicators.SimpleMovingAverage(Ticker.Close, 200);
int index2 = GetIndexByDate(Ticker, MarketSeries.OpenTime[index]);
result[index] = ((Ticker.Close[index2] - ma.Result[index2]) / Ticker.Close[index2]) * 100;
return (int)(((Ticker.Close.LastValue - ma.Result.LastValue) / Ticker.Close.LastValue) * 10000);
}
private int GetIndexByDate(MarketSeries series, DateTime time)
{
for (int i = series.Close.Count - 1; i >= 0; i--)
if (time == series.OpenTime[i])
return i;
return -1;
}
}
}
4X
4x.dunder
Joined on 15.08.2019
- Distribution: Free
- Language: C#
- Trading platform: cTrader Automate
- File name: Currency Strength JPY.algo
- Rating: 0
- Installs: 1728
- Modified: 13/10/2021 09:54
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Comments
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FE
This bot is very useful and can make my tasks easier. My bot is currently being outsourced
You are right, I outsource many of my projects, for example, blockchain development. I know many people who use outsourcing services https://wow24-7.io/ in all areas. Mainly IT development, customer support, and e-commerce, it is very profitable.