Pair Strength (JPY) - Currency Strength Indicator
๐ What is Pair Strength (JPY)?
Pair Strength (JPY) is an advanced indicator that analyzes and compares the relative strength of 6 major currencies in real-time: EUR, GBP, JPY, USD, AUD, and CAD. It uses the True Strength Index (TSI) to measure the momentum and strength of each currency, allowing you to identify which currencies are stronger or weaker in the market.
๐ฏ Main Features
โ Multi-Currency Analysis: Monitor 6 currencies simultaneously in one window โ Trend Identification: Detect the strongest and weakest currencies in the market โ Overbought/Oversold Signals: Levels at 50, 0, and -50 to identify extremes โ Trade Confirmation: Helps validate your entries by comparing relative strength โ Visual and Clear: Each currency has its own color for easy identification
๐น Compatible Pairs
IMPORTANT: This indicator analyzes the strength of 6 currencies: EUR, GBP, JPY, USD, AUD, and CAD
The indicator works ONLY with pairs that include JPY (Japanese Yen), meaning:
- EURJPY (Euro / Yen)
- GBPJPY (Pound / Yen)
- USDJPY (Dollar / Yen)
- AUDJPY (Australian Dollar / Yen)
- CADJPY (Canadian Dollar / Yen)
โ ๏ธ Your broker MUST offer these 5 pairs with JPY for the indicator to work correctly.
Does NOT work with:
- Gold, silver, or other metals
- Stock indices
- Cryptocurrencies
- Pairs that don't include JPY (like EURUSD, GBPUSD, etc.)
You can apply the indicator on the chart of any of the 5 pairs mentioned above.
๐ How to Use the Indicator
Line Interpretation:
Each colored line represents the strength of a currency:
- Line up (positive values): The currency is STRONG
- Line down (negative values): The currency is WEAK
- Line crossovers: Change in relative strength between currencies
Key Levels:
- Level 50: Overbought zone - The currency may be very strong and close to reversing
- Level 0: Neutral line - Balance between strength and weakness
- Level -50: Oversold zone - The currency may be very weak and close to reversing
Basic Strategy:
- Identify the STRONGEST currency (highest line)
- Identify the WEAKEST currency (lowest line)
- Trade the pair combining both (example: if EUR is strong and JPY is weak โ buy EURJPY)
- Confirm with levels: Avoid buying when the strong currency is at +50 or selling when the weak one is at -50
โ๏ธ Adjustable Parameters
- Fast Period (Default: 5): Fast period of TSI - lower values = more sensitive
- Slow Period (Default: 15): Slow period of TSI - higher values = smoother
Default values work well for most situations. Adjust them according to your trading style.
๐ฎ Future Updates
We are evaluating the possibility of adding more currency pairs (NZD, CHF, etc.) in future versions, depending on user response and feedback. However, this is not guaranteed and will depend on the indicator's performance and market demand.
๐ก Usage Tips
โ Use it in conjunction with your main strategy, not as a standalone system โ Combine with price action analysis and support/resistance levels โ Practice first on a demo account before trading live โ Not all signals are winners - apply proper risk management โ Works best on M15 timeframes and above
๐ Support
If you have questions about the installation or use of the indicator, contact us.
Final Note: This indicator is an analysis tool. Trading success depends on multiple factors including risk management, psychology, and experience.
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