Hi guys … I was researching a bit on the concept of this thread and came across this free heatmap which seems to do the job quickly…you guys might want to check it out Currency Strength Heatmap | OANDA fxTrade
How do you even get the strenght of the currency using sma?
It just shows a graph.
What shows a graph?
To get the strength of a currency, the exercise is to list each currency, like USD, EUR, GBP, JPY, CHF, AUD…on paper or a spreadsheet. Then you go through each pair that has those currencies in them and record their relationship with the 200 SMA on a 4hr chart. For example if the EURUSD is trading above the 200 SMA that means that the EUR is stronger than the USD at that point in time, so you’d record this on your list by giving the EUR an up arrow and the USD a down arrow. Then go through the same process for each pair until you’ve done all the pairs.
When done, count the up arrows for each currency and then count the down arrows. If the EUR has 5 up arrows and 2 down arrows and the JPY has 3 up arrows and 4 down arrows, that means that the EUR, overall, is stronger than the JPY. I then focus on up to 6 pairs that have the currencies with the most up arrows with the ones that have the most down arrows, and go from there. You’d want to do this just before or at the open of each session…Asian, London, NY.
Hope that helps 
Hello Medisoft, Are you determining the strong weak by the 4 hour chart and the 200 sma, or are you using the 120 sma with 30 minute chart? Thanks for your feedback!
Thanks for the thread sweet pip! At the start of the thread you mentioned using a 120 sma with 30 minute charts, but now you are posting to use the 200 sma with the 4 hour charts. Are you having success with this system still and which way are you determining the strong weak analysis now?The 120 or 200?
Hi there,
Well I switched back to the original concept as per Richard Krivio of Daily FX…he uses the 200 SMA on a 4 hour chart. Of course it’s not a standalone system, it’s just a tool to be used with whatever system one uses to help pick the pair that will deliver. I am in limbo right now as I am on a learning curve on some other tools. Feel free to try it out and report back with what you find
I’ve got the sheet made but can’t figure out how to get the sum cells (up and down) to calculate just 1’s or 2’s. THANX
Sheela
I’ve got the sheet made but can’t figure out how to get the sum cells (up and down) to calculate just 1’s or 2’s. THANX
Sheela
I think you are looking for the COUNTIF function. [B]=COUNTIF(Q:Q=1)[/B] for example.