GBP Relative Strength Comparison to the basket of other major currencies. gbp = (gbpusd + gbpjpy/100 + gbpcad + 1/eurgbp + gbpchf + gbpaud + gbpnzd)/7
Simple indicator implementing relative strength against the equally weighted basket of major currencies. Perhaps I will coin it the Equally Weighted Index (EWI) and trademark it like ICE did with DXY. usd = (usdjpy/100 + usdcad + 1/gbpusd + 1/eurusd + usdchf + 1/audusd + 1/nzdusd)/7 DXY is hard to compare against other indices because of it's weightening....
// TTPro CurrencyImpulse V11 is a powerful indicator that measures the strength or weakness of the seven major currencies. // Trading opportunities can be spotted very quickly when the currency lines cross over.
based CSI major x major pair range about +-20 major x minor pair range about +-40 show pair eurusd/usdjpy/eurjpy/audjpy/gbpjpy/gbpusd/audusd/nzdusd/eurgbp/usdchf/chfjpy/nzdjpy/usdcad/cadjpy dafault usdjpy/eurusd ON , another pair OFF, CSI OFF Known bugs: disabled drawing tool on showing below 2 pair
Forex currency strength indicator for the EUR/USD pair
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...
The script uses the average price of Major currencies to show their relative strength. Choose which currencies you wish to see in the format options. The script works based off of RSI so the currency with a higher value is stronger than the currency with the lower value. If for example USD is at 65 and CAD is at 30 then USD is stronger than CAD and buying USDCAD...
Republished: The original script violated house rules by including an external link to Backtest Rookies. Background The currency strength indicator takes up to 4 forex pairs and calculates the average strength across all pairs. The indicator uses the pair's daily percentage change to calculate the overall strength. For flexibility, it can accept any...
This is an updated script Originally written by @glaz Description: This study is a version of Currency Strength Meter, that utilises TradingView's built-in "True Strength Index" (TSI) function. The TSI uses moving averages of the underlying momentum of a financial instrument. Modifications: 10-Nov-2017 by JustUncleL Corrected the weighting on JPY pairs,...