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is there any indicator thats can show how strong the price is? i mean when the candle goes up,how can we know that the candle will go further up... maybe someone has this kind of indicator like a bars or some sort of histo or what ever.. as long as it tell the strength off the price... thanks
is there any indicator thats can show how strong the price is? i mean when the candle goes up,how can we know that the candle will go further up... maybe someone has this kind of indicator like a bars or some sort of histo or what ever.. as long as it tell the strength off the price... thanks
The best approach to your question is market profile which is a statistical approach to the analysis of price data.
:: I'm working on something like that... Cluster/Correlation strength between currencies... this will be added in the next NewsReader release... also have a market profile/analysis indicator/EA (not for free release), but market profile/analysis will give you a more overall guidance in direction while Cluster/Correlation indicator will give a instant overall strength/weakness view (where the action is )
:: the problem with this spreadsheet is that it doesn't give you a total 24 hour view, this means that just after midnight you have a history of one minute, the real 24hour view is at 23:59, then you have only 1 minute to look at it ... so every progress in time in that day is a new time span, there is NO static comparison possible like for example between every hour or 24 hour,... so with this you get a false view of the market.
Quote:
Originally Posted by brownknoser
here is an excel sheet that may be what you are looking for
is there any indicator thats can show how strong the price is? i mean when the candle goes up,how can we know that the candle will go further up... maybe someone has this kind of indicator like a bars or some sort of histo or what ever.. as long as it tell the strength off the price... thanks
limestreamx,
You may want to look into the Probability Meter developed by Ferrufx. It has our Strength Signal in it along with his other custom indicators. It may do the job for you.
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NEW UPDate! 04 Nov. 09 
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