OPEN-SOURCE SCRIPT
FX Majors (+CN) Currency Basket Comparison
Description:
This indicator shows how individual FX major currencies (including CNY) have performed relative to each other. It calculates each currency's performance against a "Trade Weighted" basket of other major currencies.
I created this because I couldn't find it, and I wanted an easy way to see currency behaviour and flows.
Purpose:
It lets you see the relative strength and weakness of each currency, similar to how the DXY measures USD strength, but for all the major currencies. Each basket and currency weights are based on Trade Weighted values from literature/economics.
This way you can maybe decide which crosses / pairs to trade.
Can helps you visualise how events (economic, news or otherwise) affect currency flows.
Features:
Relative Performance: Focuses on how a currency's value has changed over time, rather than its absolute level.
Normalization: Adjusts currency values to a starting date, making it easy to compare their performance.
Adjustable Start Date: You can set the anchor date to choose the starting point for calculating relative performance.
Customizable Weights: The indicator allows you to use custom weights for each currency basket should you wish.
This indicator shows how individual FX major currencies (including CNY) have performed relative to each other. It calculates each currency's performance against a "Trade Weighted" basket of other major currencies.
I created this because I couldn't find it, and I wanted an easy way to see currency behaviour and flows.
Purpose:
It lets you see the relative strength and weakness of each currency, similar to how the DXY measures USD strength, but for all the major currencies. Each basket and currency weights are based on Trade Weighted values from literature/economics.
This way you can maybe decide which crosses / pairs to trade.
Can helps you visualise how events (economic, news or otherwise) affect currency flows.
Features:
Relative Performance: Focuses on how a currency's value has changed over time, rather than its absolute level.
Normalization: Adjusts currency values to a starting date, making it easy to compare their performance.
Adjustable Start Date: You can set the anchor date to choose the starting point for calculating relative performance.
Customizable Weights: The indicator allows you to use custom weights for each currency basket should you wish.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.