The detailed time frame change by individual currency
The above table 2 reflects the detailed time frame change by individual currency as calculated by the Forex Relative Strength MT4 Indicator . The above table puts the 3 hour time frame under a microscope and details the currency by currency changes. The user can change the look back period by clicking on the look back period on table 1.
The currency in the far left column is the base currency and the currency at the top of the table is the quoted currency. So to see how the EURUSD has performed in the last 3 hours start with the EUR row until you get to the USD in the top column. The answer is that the EURUSD when up 5 pips or the EUR strengthened by 5 pips over the USD.
The total column is the total of all the pip movements the base currency has experienced compared to all other quoted currencies. You will not that this total is what is reflected in the columns used for table 1.
So examples of conclusions you could make from this table are:
- In the last 3 hours the GBP strengthened compared to all other currencies
- In the last 3 hours the AUD weakened compared to all other currencies
- If you had bought the GBPAUD it would be 94 pips up
- The following would have been good trades –
- Buy the EURAUD + 62 pips,
- Buy the EURJPY +41 pips,
- Buy the GBPJPY +66 pips,
- Buy the GBPCAD +59 pips,
- Buy the GBPNZD + 58 pips.
Again the trick is to look back at the Forex trading charts 3 hours ago to see if any major trading signals were missed and why. Also were there any fundamental announcements pushing these gains.
So let’s look at the 3rd Table of the Forex Relative Strength MT4 Indicator :- Relative strength indicator 3rd Table