Currency Strength & Regression Analysis eBook Included with Purchase!
Price Distribution Part 2
Here is a sample video from the training library. This is Part 2 of the Price Distribution Lessons and it teaches Skew and Kurtosis, which are not as well known as some of the other stats, but are key metrics to watch. Learn more in this training video.
Here is another sample video from the training library, which teaches the Efficiency Ratio and how to use it with the Linear Regression Channel.
In the Efficiency Ratio video above, there was an example setup that was already in progress. Here's how it turned out:
Linear Regression Channel Entry
The trade is entered when the candle closes below the upper channel line. For this setup, the Efficiency Ratio was falling, signaling a possible change in direction (see video above).
Best Fit Line Exit
The trade is closed when price crosses below the Best Fit Line.
METATRADER 4 VERSION INCLUDED
Here's the MT4 version, which is a simplified version of the SmartTrader Dashboard (which is used in the videos) and includes price distribution plus stats, as well as the linear regression channel.
COMPANION TRAINING COURSE
The Companion Training Course comes free with the WSI Dashboard and was recorded to help reinforce and explain the concepts and strategies from the eBook. The video lessons also demonstrate how to apply those strategies using the Dashboard!
Video #1: WSI Dashboard Inputs
Learn what the inputs mean and what to adjust when you add the WSI Dashboard to a chart.
Video #2: Intro to Currency Strength
Learn more about the basics of Currency Strength and how it can be useful in your analysis.
Video #3: Correlation Analysis
Find out how to use the Correlation Coefficient with price and with the WSI.
Video #4: Linear Regression
Learn how to use Linear Regression and the Linear Regression Channel for trend and range trading.
Video #5: Price Distribution Part 1
Dive deeper into how to use the Linear Regression Channel, Standard Deviation, and the Correlation Coefficient.
Video #6: Price Distribution Part 2
Learn how to combine Skew and Kurtosis to give you two perspectives on price and the WSI.
Video #7: The Efficiency Ratio
Learn more about the Efficiency Ratio with examples and strategies, like Divergence.
Walton Strength Index
Select the currencies you want to compare and the WSI will calculate their overall strength using 28 major currency pairs. Keep it compact or stretch it out to see more detail!
Symbol Breakdown
This shows you how each of the currency pairs scored that were used in the overall currency strength calculation.
WSI Compass
This unique display allows you to select a higher timeframe to run the calculations from. For example, you can choose a 5 minute WSI that will start calculating at the beginning of each day.
Base Currency Linear Regression Channel
Finds the Linear Regression Line of Best Fit for the Base currency, then draws a channel around the Best Fit Line using the Standard Deviation (similar to Bollinger Bands)
Quote Currency Linear Regression Channel
Finds the Linear Regression Line of Best Fit for the Quote currency, then draws a channel around the Best Fit Line using the Standard Deviation (similar to Bollinger Bands)
Correlation Coefficients
Displays the Correlation Coefficient for both currencies individually and combined, and for the actual instrument prices.
Skew and Kurtosis
Displays the Skew and Kurtosis for both currencies individually and for the actual instrument prices.
WSI Distribution
Shows how the WSI values for both currencies are distributed against each other.
Efficiency Ratio
See how efficiently price for the current chart is moving on a scale from 0-1, 1 meaning every candle within a range of candles is moving in the same direction.
Currency Pair Distribution
Shows the distribution of candle close prices, the blue distribution bars are prices above the average and the red bars are the prices below the average.
Currency Pair Linear Regression Channel
This shows the Linear Regression Line of Best Fit for the current chart, along with upper and lower channels created using the Standard Deviation.
