Creating currency strength charts in TradingViewĬreating currency strength charts in TradingViewįirst of all, we need to create a currency strength chart in TradingView.I've been studying and trading relative strength using this subs RS/RW method since November 2021 and want to share my insights. I like to flip u/HSeldon2020's adage 'put the market first' into 'put 2x markets first', referring to the need to analyse each currency before you can get a good view of RS/RW. It is entirely possible that you go long the Euro into strength, but because the Dollar is also strong, EURUSD may go nowhere or even down. If you are trading the Euro Dollar (EURUSD), not only do you need to consider if the Euro is strong or weak, you also need to consider if the Dollar is strong or weak. Hi all, I am not sure if this post is useful to everyone, but given there is not a lot of info on using this sub's method in Forex, I wanted to share my setup and learnings.įorex is a completely different beast than stocks.
