Currency Strength Trading System
Study Guide
This study guide focuses on understanding a currency strength trading system, primarily based on the insights and strategies developed by Bernhard.
Key Topics:
Currency Strength Indicators: Understand the role of indicators like the Advanced Currency Strength28 (ACS28), Advanced Currency IMPULSE, Advanced Accumulated Currency Volume, and Advanced Supply Demand.
Hello Bernhard, and everyone,
I have had the ACS28 indicator for a couple of months and since then I have been studying the manual but I have not understood how this thing works. Something hasn't clicked for me.
For example, if I use it on GPPJPY D1 TF, it shows that the GBP blue line is above the Orangr JPY line, how can I use it to know when the Retracement will likely start on the D1, and when to enter in line with the overall trend direction on the D1 TF?
I also have the ASD Dashboard but I still don't understand how to combine it's use with the ACS28 indicator. I don't have the time to sit in front of the computer everyday as I have a day job, so swing trading is my best option.
Kindly help me put my hands on the missing puzzle with visual…
Hi,
can someone tell me and show me with screenshots how to get an acoustic signal when dGAB, IMP and IMP2 show a buy or sell signal?
Can you please tell me how to get ACS28, CS Impulse, Advanced Supply Demand and CS EXOTICS on one chart? I would also like to know how I can insert all exotic currencies.
Hello Bernhard, I was wondering if you could explain with probably visual aids how to know when a currency's strength is weakening and going into a correction before probably regaining strength and continuing with the trend? I would like to know how to get this information using the currency strength & speed.
Secondly, how can one combine a Break of Structure with the signals generated by the Dashboard?
Thanks
Certainly! To identify when a currency's strength is weakening and potentially going into a correction, you can use a strategy similar to what we employ with ACS28. One technique is to watch for a HOOK alert, especially when it appears on a supply and demand zone. Although the Dashboard does not have a specific HOOK alert, you can visually observe extreme currency strength (indicated by bold and pink or yellow CS values) and also monitor the reversal of the speed value.
USD: CS strong 159 but speed sell -28
NZD CS weak -163 but speed buy +18
The same you can see on ACS28.
Additionally, it is recommended to use the Advanced Supply Demand indicator to confirm the entry zone for a trade.
Regarding combining a Break of Structure with the signals generated by the Dashboard, it is important to note that the Dashboard itself does not provide specific signals for a Break of Structure. However, you can use the information provided by the Dashboard, such as the currency strength and speed values, to support your analysis of potential breakouts. By combining the insights from the Dashboard with your understanding of breakouts and market structure, you can make informed trading decisions.
HIT+HOOK Alert please check comment 9
https://www.mql5.com/en/blogs/post/697384#comment_5308066
If you have any further questions or need more clarification, feel free to ask.
Yes you right, I hardly trying to be profitable long term, I got access also about that great tool , my question was about simplify or automatise those strategies and to know about all settings did more than 20 wins in a row, thanks.