⬜ Note: This is not the strength of currency pairs. But, in this script we are trying to derive strength of individual currencies by matching against single base currency.
This is based on similar concept as that of Magic Numbers for stocks. Idea is simple.
▶ Calculate strength of each currency against USD. Derive the strength for both price movement...
This strategy is mainly designed for swing trading applied to FOREX.
In this case we make use of 2 moving averages but with different time frame, lets say 1h and 1 day.
When they cross above we would initially have a long trade, but in this strategy we trade it in reverse, so we would actually enter a short position.
The same for short trade.
At the same time...
This script could help to see edged level for a reverse on forex, not for yen pairs and is based on quarter and round number theory.
I suggest to use it on H4 timeframe or lower to have a confermation on support or resistance level.