Alternative to Apollo currency strength indicator

Does anybody know of a free or cheaper alternative to this indicator.

Essential that it has the chart part of the software. I have been using a lot of the methods of Anna Coulling with some success and Volume spread analysis.

Also, if anyone has purchased this software I would be interested in your views.

Is it worth the hefty price tag?

Thanks

Not sure if this will help. I did a utube search " Apollo currency strength indicator " Got lots of video’s showing how to use it. I’m not vouching for anything that or if they are selling, just the list of video’s to help you get more info.

Again I’m not sure if this comparing apples to apples
but take a look at this . Do us a favor if it is similar let us know by posting your thoughts.
Currency Strength Meter Indicator

I use Henry liu currency strength meter I find it handy and it’s free. It’s from currencynewstrading.com

I do have a question about volume spread analysis. Since Forex has no volume how is it actually supposed to work? The volume I get the my data feed is different from the volume you get through your data feed and it’s likely not of us get the volume from the “A” market So wouldn’t that make volume spread analysis totally worthless and Forex?

You’re partially right. the forex isn’t centralized so in theory volume numbers aren’t available. Traders apply and analyze tick volume. As well Forex volume can be represented by the amount of activity in a price bar or candle stick. Here’s a great video on VSA, skip the first 10 minutes where he talks about himself, and the last 10 minutes where is selling his services but in between is well worth the investment of time. YouTube
Hope that helps
Gp

I will try that indicator thank you. I have found something very similar after a 2 hour search today however it only comes as a iPhone app. It is £6.99 so a lot less than the Apollo/quantum indicator. It has a similar style chart but only shows 4hr upwards. It would be interesting to compare the data on both.

On the Apollo site it has a video showing it’s uses and one is how the strength of a currency “snaps back” once overbought or sold. This seemed to work very well and seemed off the cuff.The specific indicator has a chart which identifies this very well on all timeframes. It really helped focus on the right pairs at the right time.

It also looked like a great tool for helping confirm a currencies overall strength/weakness before taking a trade.

I am trading myself using price action along with volume. Anna coullings book on volume spread analysis is superb for identifying large orders and anomalies in the relationships between candlesticks and volume. I bought it as I like paper copies but I believe there is a kindle edition along with a PDF via Google.

It really explains volume and it makes a lot of sense to me and helps validate any genuine moves along with fake outs etc.

The indicators something new I have only recently come across so If anyone else has any experiences with this type of indicator it would be great to hear your input.

Thanks again for the suggestion :slight_smile:

I just read back my reply and I sound like a salesman for anna coulling! That I am not. Just got a lot from her book.

The indicators something she uses so it’s what I was looking for to get the best from her methodology. Just not at that price :-p

Just had a look at the link and it looks very similar… And FREE- thank you. I am not sure how both are calculated and if that makes a difference to it’s success. More research tomorrow I think.

Computational (sorry can’t post links yet!, just google computational robocod) have a currency strength indicator for £30. But its only for marketscope/fxcm trading station platform.