thread: Recent Strength indicator

Where do I down load the RSAlert indior?? Not on article 1 I can find.
thnx. And cudos to - you are shirts.

Where can I download the RSAlert indior?? Not on post 1 that I can find.
thnx. And cudos to - you are tops.

Where do I download the RSAlert indior?? Not on article 1 I can find.

Explained in'Instructions' section in post #1.
Please read the last two paragraphs of post #520 also.

Thank you for the quality indi.

Am incorporating this superb bit of work as a filter for H1/H4 based price action transactions.

Currently I am looking on RS D1 and watching the recent slopes of 6 currencies, over say the last 3-4 periods. Then drilling down to H4 for relative position (RS amount ). Though logically it sounds these should be reversed. Still working this out

cheers

although logically it seems these ought to be reversed

-- Should you have plots dispersing from vertex on left of chart, set LegendValues to 0D
-- Should you have plots converging at right of chart, set LegendValues to -1A
this will guarantee that strongest currency (across the entire plot) is always at the top of the list, and weakest at the bottom.

But I don't use the number values, as I find the variations in slope provide a more comprehensive picture.

thanks Hanover I do possess LegendValues at 0D along with the plot diverging in the left.

Yesterday took 2 trades based on D1 price action patterns, both long. USDCAD and EURCAD. E/C is currently up more than U/C. Note that on the graph EU is considerably stronger than USD in place and slope.

About the H1 graph, representing the current condition of those trades, note that USD struck 100 and then bounced down. The question I am working here is, does a currency within the very top or bottom 10% tend to undo just because it forms an extreme versus other currencies, or could it remain at an extreme for a protracted time; with 0 and 100 not creating any type of hard border.

Will report backagain.
cheers

the matter I am working on here is, does a currency within the very top or bottom 10% have a tendency to undo just because it creates an extreme vs other currencies, or can it remain in an intense for an extended period; with 0 and 100 not generating any sort of hard border.

Good question. Finally the indy is a derivative of price, therefore upward/downward slopes reflect recent strength/weakness in these currencies, averaged across all of their relevant pairs; either this strength will continue, or it won't. It's the same question as with any chart: e.g. it's currently in an uptrend, so will the trend continue, or is price overbought now, therefore a reversal is expected? In the Recent Power plots, the values from 0 to 100 have no real significance, they simply reflect how the plots are re-scaled to fit them into a 0/100 scale. Changing the indy's settings may change the plot shapes, and therefore worth, crossovers etc, quite dramatically.

JumpJack drew my attention to the http://www.forextradermark.com/apoll...rength-indior/. It uses RSI instead of price/momentum as the calculation for the plots. I guess an oscillator-based calculation might be more useful for picking reversals according to overbought/oversold. If I get some spare time, I'll bravely reevaluate the monster I've established, i.e. try to bring a'calculation kind' alternative to Recent Power.

follow up to preceding trade:

equally E/A and E/C tanked last night as the Euro took a major dive and the CAD strengthened.

In my preceding article EUR had hit 100% and has in fact turned around difficult after hitting this advantage. Same with CAD which turned up and struck bottom. The strengthening of the CAD was sufficient to induce U/C to tank, although the USD is in a motion that is general.

Quite simply, comparative strength seems to better give a comparative overbought/oversold type of indiion over an intuitive comparative STRENGTH vs other currencies. Looking at the numbers because extreme amounts and extreme amounts both suggest pullbacks, rather than the slope of these lines could be useful. At least in this example I am posting.

In short, I think Mark Boardman in Apollo strength might be right. His indi is calculated a little differently however he waits for a currency to hit the top or lower 30% and plays REVERSALS, not strength. The trades in his movies are short lived countertrend, rather than precise.

Everyone, we need more study as there is confusion on the best way to use comparative strength profitably.

Hanover this is a wonderful piece of work.
thank you.
Praise aside what are the favourate indiors?
regs abp

Hanover that is a fantastic bit of work. Thank you. Praise aside what are your favourate indiors? regs abp

Answered here.