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ForexCurrencyStrength
The "ForexCurrencyStrength" indicator is a powerful tool designed to analyze the relative strength of the eight major currencies in the Forex market: EUR, USD, GBP, JPY, CHF, CAD, AUD, and NZD.
🔍 What does this indicator do?
The ForexCurrencyStrength indicator calculates the strength of each currency based on price changes across a variety of major currency pairs. It analyzes logarithmic returns (Log Returns) from 28 Forex pairs to give a comprehensive view of the market strength of each individual currency.
⚙️ How does it work?
The indicator calculates the strength of each of the 8 currencies by analyzing the changes in relevant currency pairs.
The strength is calculated based on the cumulative price changes since a user-defined start date.
Each currency is plotted as a separate line on the chart for easy comparison and identification of trends.
📅 Custom Start Date
You can set a custom start date for the calculation, allowing you to begin analysis from an important event or any preferred date.
📈 Use Cases
Identify the strongest and weakest currencies at a glance.
Help in choosing optimal Forex pairs for long or short trades.
Ideal for trend-following and relative strength strategies in Forex trading.
🎨 Features
Clear line plots for each currency.
Color-coded for easy visual differentiation.
Real-time values displayed as labels directly on the chart.
🔍 What does this indicator do?
The ForexCurrencyStrength indicator calculates the strength of each currency based on price changes across a variety of major currency pairs. It analyzes logarithmic returns (Log Returns) from 28 Forex pairs to give a comprehensive view of the market strength of each individual currency.
⚙️ How does it work?
The indicator calculates the strength of each of the 8 currencies by analyzing the changes in relevant currency pairs.
The strength is calculated based on the cumulative price changes since a user-defined start date.
Each currency is plotted as a separate line on the chart for easy comparison and identification of trends.
📅 Custom Start Date
You can set a custom start date for the calculation, allowing you to begin analysis from an important event or any preferred date.
📈 Use Cases
Identify the strongest and weakest currencies at a glance.
Help in choosing optimal Forex pairs for long or short trades.
Ideal for trend-following and relative strength strategies in Forex trading.
🎨 Features
Clear line plots for each currency.
Color-coded for easy visual differentiation.
Real-time values displayed as labels directly on the chart.
Skrip dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
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 dilindungi
Skrip ini diterbitkan sebagai sumber tertutup. Akan tetapi, anda boleh menggunakannya dengan percuma dan tanpa had – ketahui lebih lanjut di sini.
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.