An update to my original Currency Strength script to include a 2nd timeframe for more market context. Changed the formatting slightly for better aesthetics, as the extra column and colors became unsightly. Also added a new setting for "Flat Color", which changes the value background to a simple green/red for above or below 50, rather than using the Color Scale...
This script measures the strength of the 6 major currencies USD, EUR, GBP, CAD, AUD and JPY. Simply, it averages the RSI values of a currency vs the 5 other currencies in the basket, and displays each average RSI value in a table with color coding to quickly identify the strongest and weakest currencies over the past 14 bars (or user defined length). The Dir....
Version 2 of the ROC study that now puts them as a label on the same chart.
A simple study that shows the majors against the USD Rate of Change. Allows you to pick opposing strength pairs to trade. There are different ROC calculations for people to play with as I am not sure which way the ( ) should be so feedback is welcome.
EXPERIMENTAL: Oscillator with sum'd volume across the majors with panel showing volume over period results.
this script by RichardoSantos description -- Power oscillator to discern what currency's are stronger/weaker. added option to use a smoothed source(close) for pooling the change, giving longer term directional bias, note that this causes lag in the results as MA's turn slower than price. -- I added currency labels and changed line color only.
This script estimates the relative strength of forex major currencies. It works in any timeframe with no input required. The only parameter is used to smooth the curves and can be set to 1 to have the original, but noisy, signals. Comments are welcome, and please push the like button if you find it useful. Cheers. PS Curious that this kind of indicator is not...
Power oscillator to discern what currency's are stronger/weaker. added option to use a smoothed source(close) for pooling the change, giving longer term directional bias, note that this causes lag in the results as MA's turn slower than price.
Power oscillator to discern what currency's are stronger/weaker.