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Yes, Complex is an indicator which could be used to get picture on the comparative Momentum of single currencies.
Now in this indicator Momentum of 5 major currencies is calculated. It is calculated as an average of the Momentum of 4 currencies pairs for each one of them, e.g. to calculate the Momentum for USD, EURUSD, GBPUSD, USDCHF and USDJPY pairs are used, their Momentum calculated and the average is presented as the Momentum for the single currency USD.
Now I wonder if somebody here could build similar indicator by just replacing the Momentum with RSI, which I believe will give more accurate picture since it is always presented on the scale from 0-100 thus converting the strength to one uniform scale for all currencies (not the case with Momentum) and is better in determine overbought/oversold levels, which is not the case with the Momentum which is the measurement of the speed or velocity of price changes and is better for trending.
Good trading all
ID
Last edited by idejan; 09-15-2006 at 06:23 PM.
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