i have been corresponding with a trader who was telling me he had never seen any potential in using strengthmeters .......we will probably agree to disagree (sadly) but my parting shot was below :-
so simple it hurts ..........just dropped todays 5 min chart out
on a simple default FXCorrelator 20/1 setting 5 min chart
tell me this ........
why would you not be looking to Buy GBP pairs at A onwards ?
why would you not be looking to SELL GBP pairs at B onwards ?
why would you not be looking to Buy Yen pairs at C and D onwards ? (in fact continuously)
why would you not be looking to Sell CAD pairs at E onwards ? (or even earlier)
this is the dumbest simplest most basic system i produced some 20 years back (started sharing it here in 2009 i think)
introduce some secondary strategies to confirm pair entries and you have the basis to start developing a sustem
sure the methods i use are a lot more sophisticated than this ....but we all have to start somewhere
all this is doing is showing you the strongest and weakest currencies coming through the pipe......
thats trading 101.......