Well the CCY strength is interesting.

Actually I did like it too once I did read about it.
My thought was to actually extend it, not only by the pairs available to me to trade, but also extend it somehow.

The basic thought was, download more pairs (e.g. from Stooq) to extend the calculation (amount and pairs must match, e.g. download USD/HKD, also of course would require EUR/HKD, NZD/HKD, etc.).

The second is, the basic idea, if e.g. EUR/GBP is stronger / weaker than GBP/USD, not trade the strongest / weakest, but trade their Cross pair.
I actually already had something glued together, and it is valid.

Cause, although you have strongest/weakest, the direct cross pair still behaves different.
There is people saying, there is no arbitrage, that might be true for Broker Arbitrage, but triangular Arbitrage exists, often by a lag of 1 to 3 days.


That is of course understadable, cause if somewhere, someone sells a big cung of GBP/USD, someone else holding EUR/GBP, is totally in a different situation.
Moneyflow does not change direction one day to the other, of yourse you will always see, that the pairs seem to move with the big moves in the market too, just their beta is different.

Buyers in EUR may need GBP, so what we see in the e.g. 1 min chart, does not always preveil in the 1 hour or higher chart.