Hey all snoop here with another basket idea: this time I'm tackling a triage trading system for EG EU and GU.
If you have been following the Euro Dollar strength script at all you would have seen that the last 2 or 3 trades that I was using it for were successful. Presented here is an indicator that is actually 3 of the same 'kind' of script that the euro dollar strength script was where the indicator essentially outputs that for the XXX/YYY pair if XXX gains against the basket and YYY loses against the basket green coloring and if XXX loses against the basket and YYY gains against the basket red coloring; the lines are plotted at 3 (the top line) as the Euro GBP strength, line at 2 as Euro Dollar strength, and the 1 line (bottom) as GBP dollar strength.
Essentially you can use this exactly the same as the EU strength script was used (go long on green of the corresponding line for the symbol [3 for EG, 2 for EU, 1 for GU] or another way would be if all the signals were printing a 'clear' relationship.
example:
3 reads red, 2 reads red, 1 reads red ... meaning: E<G, E<U, G<U ; we can then use logic to deduce that E<G<U.... we would want to short EU in this case.
example: 3 reads green, 2 reads green, 1 reads red... meaning: E>G, E>U, G<U ; we can then use logic to deduce that E>U>G... we would want to long EG in this case.
another riskier way to use this script is to 'carry over' the last printed signal.
for example see how EG is printing black (E=G) well the last signal was red (E<G) so if one was willing to tolerate the risk one could 'carry over' that signal and still consider this as a short until a green long is printed.
Like almost all of my work this will be a protected script; I put a lot of work and thought into these ideas and am constantly improving them on my end for my own personal usage and gain.
If you really want access (and want to support me as well) PM me 'snoop pls' with a link to this (or any of my indicators that are private)
I already have one for AN AU NU and one for GU GJ UJ in the works, but if someone has a specific request or visual enhancement I would be willing to take your suggestions.