Thanks for this thread, which I am just reading (in its entirety ) over the weekend.
Where does your currency strength index come from?
Can’t find that one. I used to use currency indices on tradingview (AXY, BXY, CXY, EXY, JXY, SXY, ZXY and XAUWCU, in addition to DXY). Insightful but so many charts add a lot of complexity to the mix!
I’ve downloaded the MT4 indicator you linked to & getting ready to use it in my trading on Monday!
A couple of practical comments:
-As someone said, SMA is not new. What’s new & exciting is having a clear visible indication of when the SMA is rising and when it’s falling.
-SMA is a lagging indicator. My analysis provides a leading indicator, but there’s almost always a time gap between first signal generation and best time to take action. Too often, that caused me to jump the gun on entry, and I’d be vulnerable to whipsaw as a result. That would lead to missing out on trades and/or losing money. By adding the color-coding to the SMA (which I already use), my plan is to get an early signal, which will put the security on my radar, then I will wait for the color-coded SMA rising/falling signal to provide an actionable entry point in real time.
-I only use SMA, not EMA, as a matter of personal preference. If I want to emphasize longer or shorter time frames in a market, I take a look at a higher or lower degree fractal pattern than the degree I’m actually trading. Again, just my preference.