Which currency strenght indicator is the best?
its not really a question of what is best as there are so many variations and derivatives of this type of indicator Presentation
You have Heatmaps which represent real time data only (no historic data) , and then more time based traditional indicators (historic data shown on charts). Indicator methods
You can have just about any form of method / algorithm that drives the indicator. these can be based around the traditional indicators available for TF based charts (and non timebased charts like Renko and Range bars). MA based RSI based ATR based CCI based MACD based the list is endless ..... my main expertise is using MA based strengthmeters ....(for example my free FXCorrelator) ...but i have worked with most other algorithmic derivatives as well in partnership with some great traders and programmers my advice is to start with something simple and understandable (like an MA based strengthmeter)