MA Strength Indicator EnhancedThe "MA Strength" is an indicator that measures market trend strength or (in the case of forex pairs) the relative strength of individual currencies based on up to five different moving averages (MA). It offers multiple calculation methods, such as simple summation, normalized value, or measuring ATR/percentage distance from the price. The results are summarized in a clear table, and it provides customizable alerts for trend changes or shifts in currency strength. The high level of configurability (e.g., MA weighting, "all MA alignment" requirement) allows for fine-tuning the strategy.
💬 Interpreting the Table (Top Rows)
The top row of the table shows the final output of the indicator. This changes according to the set "Table Mode".
Trend Mode: The top row shows the final, aggregated trend status (e.g., "BULLISH", "NEUTRAL") and the corresponding "Trend Value". This is the value the indicator compares to its thresholds.
Forex Mode: (Only on 6-character pairs): The top two rows show the strength of the Base currency and the Quote currency separately.
Calculation of the top rows:
The indicator calculates the individual score of all active MAs (according to the chosen method).
Trend Value: This is the final value calculated from the scores.
If "Enable Averaging" is ON, this will be the average of the scores (e.g., MA1 score is 5.0, MA2 score is 7.0 -> Trend Value is 6.0).
If averaging is OFF, this will be the sum of the scores (e.g., 5.0 + 7.0 = 12.0).
Forex Calculation: "Forex Mode" uses this "Trend Value". If the Trend Value is +6.0 (on an EURUSD pair):
The Base currency (EUR) value will be +6.0.
The Quote currency (USD) value will be -6.0.
The indicator compares these values to the thresholds to determine the "STRONG" status for EUR and "WEAK" status for USD.
📊 Calculation Methods
The indicator can calculate trend strength using 5 methods. The final "Trend Value" is derived from the results of these calculations.
Sum:
Description: Simply adds up the individual scores of all enabled moving averages (MA).
Formula: If the price is above an MA, it gets the "Score Above" value (e.g., +2.0); if below, it gets the "Score Below" value (e.g., -2.0).
Example: Result = (MA1 score) + (MA2 score) + ...
Normalized:
Description: Takes the sum obtained by the "Sum" method and converts it to a scale between -100% (maximally bearish) and +100% (maximally bullish). It takes into account the maximum possible positive and negative scores.
Formula: Result = (Total Score / Max Possible Score) * 100
Percentage Distance:
Description: This method also considers distance. The further the price is from the MA in percentage terms, the higher the score.
Formula: MA Score = (|Close Price - MA| / MA * 100) * Weight (The "Weight" is the "Score Above/Below" value set in settings).
ATR Distance:
Description: Similar to percentage distance, but normalizes the distance using volatility via ATR (Average True Range).
Formula: MA Score = (|Close Price - MA| / ATR) * Weight
Candle Count:
Description: Counts how many consecutive candles have been above or below the MA. It multiplies this number by the set weight.
Formula: MA Score = (Number of consecutive candles) * Weight
⚙️ Settings Options
Moving Averages (MA 1-5)
For each moving average, you can set:
Enable MA: Turn the specific MA on or off.
Type: The type of moving average (SMA, EMA, WMA, etc.).
Period: The period of the MA (e.g., 50, 200).
Score Above / Below: The most important setting. This defines the "weight" of the MA in the calculation. In "Sum" mode, this is a fixed score; in distance-based modes, this is a multiplier (weight). It is advisable to write a positive number for "Score Above" and a negative number for "Score Below".
Calculation Settings
Enable Averaging: If this is on, the indicator shows the average of the active MA scores, not the total score.
Exception: This function is not available in "Normalized" mode.
Require All MA Alignment: This is a strict filter. If enabled, the indicator only gives a "BULLISH" (or "STRONG") signal if the price is above all enabled moving averages. Similarly, a "BEARISH" signal only occurs if the price is below all moving averages. If the price is on the opposite side of even just one MA (e.g., above 4, below 1), the status becomes "NEUTRAL", regardless of the scores.
Strength / Trend Thresholds
Enable Extra Levels: If active, statuses are expanded: "EXT. BULLISH" / "EXT. BEARISH" (Trend mode) or "EXT. STRONG" / "EXT. WEAK" (Forex mode). This indicates stronger, overbought/oversold conditions.
Threshold setting: The thresholds (e.g., "Strong Above - ATR") determine when the calculated value counts as a "STRONG" or "WEAK" status.
🔢 Setting Thresholds via Calculation
If "Enable Averaging" is OFF, the "Trend Value" shown in the table will be the sum of the individual MA scores. Therefore, we must define the threshold by adding up the minimum expected performance from each moving average. This allows us to set different expectations for short, medium, and long-term averages.
Step 1: Determine MA weights
In our example, we use 3 active MAs with the following weights (Score Above values):
MA1 (Short): Weight = +2
MA2 (Medium): Weight = +3
MA3 (Long): Weight = +4
Step 2: Determine the minimum expected distance
Define a minimum distance expected from each MA to trigger a "Strong" signal.
Step 3: Calculate target scores and the final threshold
Note: If "Enable Averaging" is ON, the resulting value (sum of target scores) must be
averaged to get the final threshold.
Example 1: ATR Distance
-Goal: I want a "Strong" signal if the price is...
...at least 1.0 ATR above MA1 (Short),
...at least 1.5 ATR above MA2 (Medium),
...and at least 2.0 ATR above MA3 (Long).
-Calculation (Expected Distance * Weight):
MA1 Target Score: 1.0 * 2 = 2.0
MA2 Target Score: 1.5 * 3 = 4.5
MA3 Target Score: 2.0 * 4 = 8.0
-Final Threshold (Sum of Target Scores): 2.0 + 4.5 + 8.0 = 14.5
-Setting: Set "Strong Above - ATR" threshold to 14.5.
If "Enable Averaging" is ON, the obtained value must be averaged, and the result will be the
threshold: 4.8 (14.5 / 3 = 4.83).
Example 2: Percentage Distance
-Goal: I want a "Strong" signal if the price is...
...at least 0.5% above MA1,
...at least 1.0% above MA2,
...and at least 1.5% above MA3.
-Calculation (Expected Distance * Weight):
MA1 Target Score: 0.5 * 2.0 = 1.0
MA2 Target Score: 1.0 * 3.0 = 3.0
MA3 Target Score: 1.5 * 4.0 = 6.0
-Final Threshold (Sum): 1.0 + 3.0 + 6.0 = 10.0
-Setting: Set "Strong Above - Percentage" threshold to 10.0.
If "Enable Averaging" is ON, the obtained value must be averaged, and the result will be the
threshold.
Example 3: Candle Count
-Goal: I want a "Strong" signal if...
...at least 3 consecutive candles are above MA1,
...at least 5 consecutive candles are above MA2,
...and at least 10 consecutive candles are above MA3.
-Calculation (Expected Candle Count * Weight):
MA1 Target Score: 3 * 2.0 = 6.0
MA2 Target Score: 5 * 3.0 = 15.0
MA3 Target Score: 10 * 4.0 = 40.0
-Final Threshold (Sum): 6.0 + 15.0 + 40.0 = 61.0
-Setting: Set "Strong Above - Candle" threshold to 61.0.
If "Enable Averaging" is ON, the obtained value must be averaged, and the result will be the
threshold.
Example 4: Sum
In this mode, distance does not matter, only whether the price is above or below the MA.
-Goal: "Strong" signal if the price is above the long-term averages, but can be below the short-term (MA1).
MA1 (Short): Can be below (Weight: -2.0)
MA2 (Medium): Must be above (Weight: +3.0)
MA3 (Long): Must be above (Weight: +4.0)
-Calculation: -2.0 + 3.0 + 4.0 = 5.0
-Setting: Set "Strong Above - Sum" threshold to 5.0.
If it must be above all three moving averages, the threshold would be 2.0 + 3.0 + 4.0 = 9.0.
If "Enable Averaging" is ON, the obtained value must be averaged, and the result will be the
threshold.
Example 5: Normalized
The basic logic is similar to the "Sum" method.
-Goal: "Strong" signal if price is above MA2 and MA3, but potentially below MA1.
-Calculation: Target Sum: 5.0. Max Possible Score (above all): 9.0.
-Threshold: (5.0 / 9.0) * 100 = 55.5
In this calculation method, averaging cannot be set.
The Usage of the "ATR %" Row
The "ATR %" row shows the percentage movement of an average candle.
How to use this with "Percentage Distance" mode:
This number gives a baseline. It helps decide if the "Percentage Distance" threshold is realistic.
Example: You see the "ATR %" value is hovering around 1.2%. This means a "normal" candle moves about 1.2%.
If you set the Percentage threshold to 0.5%, it is too low. The indicator will constantly give a "Strong" signal because even average movement (noise) exceeds the threshold.
Correct Usage: If "normal" movement is 1.2%, then a "strong" movement (trend) needs to be significantly larger. For example, set the threshold to double the ATR %: 2.4 (2 * 1.2). Thus, you only get a "Strong" signal if the movement is twice the average volatility.
Supplementary Information
Rounding Differences:
The numbers displayed in the table and the precision of calculations in the background differ.
Table Display: The indicator rounds numbers to two decimal places in the table. So, if the value is 0.996, the table shows 1.00 (rounded up).
Internal Calculation: The background calculation uses much higher precision. When determining status (STRONG vs NEUTRAL), the program compares the precise, unrounded value to the threshold.
Result: Due to rounding, it may happen that if the threshold is 1.00 and the table shows 1.00, the status flickers between Strong and Neutral. If this is bothersome, it is advisable to set a slightly lower threshold (e.g., 0.98).
🔔 Alert Settings
The indicator can send alerts when the status changes.
Alert Method:
Trend: Alerts when the main trend status changes (e.g., from "NEUTRAL" to "BULLISH"). You can specify which direction to alert for (e.g., only "BULLISH").
Forex: Works only on 6-character forex pairs. You can set separate alerts for the Base or Quote currency.
Forex Strength Level: You can specify at which status level to alert (e.g., "WEAK" or "EXT. STRONG").
📈 Trading Tips
Trend Confirmation: Use the "BULLISH" / "BEARISH" status to confirm your existing strategy (e.g., breakouts, bounces off support).
Forex Pairing: In Forex mode, look for pairs where the Base currency is "STRONG" and the Quote currency is "WEAK" (or "EXT. STRONG" / "EXT. WEAK") for a long position.
Short Position: Reverse the above (Base: WEAK, Quote: STRONG).
Currencystrength
Period Range AnalyzerThis indicator analyzes a specific periodic range, which can start from a fixed date or a defined lookback period. It draws percentage levels and colored zones between the highest and lowest price. It also displays a detailed information table, which shows the price's position within the range in "Trend" mode, and the relative strength of currency pairs in "Forex" mode. The current price position is also indicated by a label with a percentage value and the name of the corresponding zone.
User Guide
Calculation Method
This setting determines how the indicator defines the range used for the calculation.
Lookback Period: In this mode, the indicator uses the last N candles (the number can be specified in the "Lookback Period (bars)" field). The range (the highest and lowest price) is "floating," meaning it is recalculated with each new candle based on the last N candles.
Date Based: In this mode, the calculation starts from a fixed date and time you select. The indicator finds the opening price of the start date and continuously tracks the highest and lowest price from that point on. This mode is ideal for measuring performance from a specific event (e.g., start of a week/month/year, news).
Data Handling Note: If you select a date in "Date Based" mode for which no data is available on the current timeframe (e.g., switching to a very low timeframe), the indicator will automatically use the earliest available candle as the starting point. All calculations (Open, Max, Min, Range, Percentage, Change, Trend) are based on this actual start date.
Start Date & Time
This setting is only active in "Date Based" mode.
Here you can specify the fixed starting point for the calculation.
The specified time is in the Exchange timezone.
Important limitation: Due to TradingView platform limits, visual elements (levels, zones) are only drawn for a maximum of 250 candles back. If the set date is older than this, the calculation still applies to the entire period (from the set date), but the drawing only covers the last 250 candles. The table always displays accurate data for the entire period.
When switching to a higher timeframe, the range may restart from a slightly later bar due to TradingView's bar alignment. For best accuracy, set your timeframe first, then select the start date.
Table Mode
This setting controls what data the information table displays.
Trend: This is the default mode, which works on any symbol (stock, index, crypto, etc.). It displays information related to the trend and the range.
Forex: This is a special mode used to measure the strength of currency and crypto pairs. It only works on symbols with exactly 6 characters (e.g., "EURUSD", "BTCUSD"). It treats the first 3 characters as the base currency (e.g., EUR) and the last 3 as the quote currency (e.g., USD). If the symbol does not have 6 characters, the table will automatically display in "Trend" mode.
Trend
This trend determination operates based on the formation order of the high and low within the analyzed range:
Its switch is located in the “Table Additional Rows” menu.
Bullish: Indicated if the low was formed before the high (on different candles). Or if they formed on the same candle, it was a bullish candle.
Bearish: Indicated if the high was formed before the low (on different candles). Or if they formed on the same candle, it was a bearish candle.
Neutral: Indicated if the high and low formed on the same candle, and it was a "doji" candle (close = open).
Upper & Lower Threshold
These settings (Upper Threshold (%) and Lower Threshold (%) in the "Label Coloring" section) primarily determine the state (Bullish/Bearish/Neutral) of the top row of the table.
The logic is not based on the percentage change of the price movement, but on the current price's position within the range, where the bottom of the range is 0% and the top is 100%.
Upper Threshold (%): The percentage level (e.g., 60.0) above which the indicator considers the price position "Bullish" (or "Strong").
Lower Threshold (%): The percentage level (e.g., 40.0) below which the indicator considers the price position "Bearish" (or "Weak").
If the price is between the two (e.g., between 40% and 60%), the signal is Neutral.
Secondary function: These thresholds also control the color of the label next to the price, provided the "Dynamic Label Coloring" option is enabled.
Range Percentage Analyzer This indicator is a tool for analyzing the market range and trend. It calculates the extent of price movement between a specified starting point and the current price, displaying it as a percentage.
The calculation can be based on a fixed lookback period (e.g., the last 30 candles) or from a fixed start date. It also provides a clear table that shows the general trend in "Trend" mode, and the relative strength of the base and quote currencies of forex pairs (e.g., EURUSD) in "Forex" mode.
User Guide
Calculation Method
This setting determines how the indicator defines the starting point for the calculation.
Lookback Period: In this mode, the indicator uses the last N candles (the number can be specified in the "Lookback Period (bars)" field, maximum 250).
The starting point is "floating," meaning it shifts with each new candle. For example, with a setting of 30, the 30th candle from the current one will always be the starting point.
Date Based: In this mode, the calculation starts from a fixed date and time you select.
This mode is ideal for measuring performance from a specific event (e.g., news, start of a week/month).
Note: If you select a date in "Date Based" mode for which no data is available on the current timeframe (e.g., switching to a very low timeframe), the indicator will automatically use the earliest available candle as the starting point.
Start Date & Time
This setting is only active in "Date Based" mode.
Here you can specify the fixed starting point for the calculation.
The specified time is in the Exchange timezone.
Important limitation: Due to TradingView platform limits, visual elements (box, line) are only drawn for a maximum of 250 candles back.
If the set date is older than this, the calculation still applies to the entire period (from the set date), but the drawing only covers the last 250 candles.
When switching to a higher timeframe, the range may restart from a slightly later bar due to TradingView's bar alignment. For best accuracy, set your timeframe first, then select the start date.
Table Mode
This setting controls what data the information table displays.
Trend: This is the default mode, which works on any symbol (stock, index, crypto, etc.). It displays information related to the trend.
Forex: This is a special mode used to measure the strength of currency pairs.
It only works on symbols with exactly 6 characters (e.g., "EURUSD", "BTCUSD"). It treats the first 3 characters as the base currency (e.g., EUR) and the last 3 as the quote currency (e.g., USD).
If the symbol does not have 6 characters, the table will automatically display in "Trend" mode.
Extremes Trend Row
If this is enabled, the table displays an additional row that determines the trend based on the formation order of the high and low within the analyzed range.
The logic is as follows:
Bullish: Indicated if the low was formed before the high.
(Or if they formed on the same candle, which was a bullish candle).
Bearish: Indicated if the high was formed before the low.
(Or if they formed on the same candle, which was a bearish candle).
Neutral: Indicated if the high and low formed on the same candle, and it was a "doji" candle (close = open).
Upper & Lower Threshold
These settings control the logic for the "Change Trend" and "Forex Display" rows at the top of the table.
They determine when the total percentage change for the entire period is considered "Bullish/Strong", "Bearish/Weak", or "Neutral".
Upper Threshold (%): The percentage value (default 0.1%) above which the indicator considers the change "Bullish/Strong".
Lower Threshold (%): The percentage value (default -0.1%) below which the indicator considers the change "Bearish/Weak".
If the change is between the two, the signal is Neutral.
Normalized FX Weighted Daily % Change vs DXYThis indicator tracks international liquidity flows by measuring the USD’s relative strength against major currencies—EUR, CNY, JPY, GBP, and CAD. It calculates the weighted percentage change of each pair over a specified interval. A positive reading means the USD is weakening (liquidity flowing out of the US), while a negative reading indicates the USD is strengthening (liquidity flowing in). Additionally, the indicator incorporates the DXY index and VIX, with all components normalized using Z-scores for clear, comparable insights into market dynamics.
Forex Power Indicator [FindBetterTrades]The Forex Power Indicator is designed to help traders quickly assess the relative strength and weakness of key forex pairs over a set period.
This tool calculates the percentage change in price over the last 5 days and highlights the strongest and weakest performing pairs in a simple table format.
Features:
Scans 10 major forex pairs (EURUSD, GBPUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, CHFJPY, EURGBP, EURJPY, GBPJPY).
Calculates the percentage change over the last 5 days.
Identifies and labels the strongest and weakest pair based on performance.
Displays results in a customizable table, allowing traders to quickly interpret market trends.
How to Use:
The strongest pair (🟢) indicates the currency with the highest performance in the selected period.
The weakest pair (🔴) shows the currency that has lost the most value.
Alerts feature:
Once you add the script to your chart, go to "Create Alert"
Under "Condition", select "Forex Power Indicator ".
The system will use the messages set in the alert() function.
When triggered, the alert will display the message like:
"New strongest currency pair: USDJPY"
"New weakest currency pair: AUDUSD"
Use this information to spot momentum opportunities, potential reversals, or trend continuations in forex trading.
This indicator is for informational purposes only and should be used alongside other technical analysis tools to support trading decisions.
Currency StrengthThis innovative Currency Strength Indicator is a powerful tool for forex traders, offering a comprehensive and visually intuitive way to analyze the relative strength of multiple currencies simultaneously. Here's what makes this indicator stand out:
Extensive Currency Coverage
One of the most striking features of this indicator is its extensive coverage of currencies. While many similar tools focus on just the major currencies, this indicator includes:
Major currencies: USD, EUR, JPY, GBP, CHF, CAD, AUD, NZD
Additional currencies: CNY, HKD, KRW, MXN, INR, RUB, SGD, TRY, BRL, ZAR, THB
This wide range allows traders to gain insights into a broader spectrum of the forex market, including emerging markets and less commonly traded currencies.
Unique Visual Presentation
The indicator boasts a clear and user-friendly interface:
Each currency is represented by a distinct colored line for easy identification
A legend is prominently displayed at the top of the chart, using color-coded labels for quick reference
Users can customize which currencies to display, allowing for a tailored analysis
This clean, organized presentation enables traders to quickly grasp the relative strengths of different currencies at a glance.
Robust Measurement Methodology
The indicator employs the True Strength Index (TSI) to calculate currency strength, which provides several advantages:
TSI is a momentum oscillator that shows both trend direction and overbought/oversold conditions
It uses two smoothing periods (fast and slow), which helps filter out market noise and provides more reliable signals
The indicator calculates TSI for each currency index (e.g., DXY for USD, EXY for EUR), ensuring a comprehensive strength measurement
By using TSI, this indicator offers a more nuanced and accurate representation of currency strength compared to simpler moving average-based indicators.
Customization and Flexibility
Traders can fine-tune the indicator to suit their needs:
Adjustable TSI parameters (fast and slow periods)
Ability to show/hide specific currencies
Customizable color scheme for each currency line
Practical Applications
This Currency Strength Indicator can be used for various trading strategies:
Identifying potential trend reversals when a currency reaches extreme overbought or oversold levels
Spotting divergences between currency pairs
Confirming trends across multiple timeframes
Enhancing multi-pair trading strategies
By providing a clear, comprehensive, and customizable view of currency strength across a wide range of currencies, this indicator equips traders with valuable insights for making informed trading decisions in the complex world of forex.
Bond Yield SpreadThe Bond Yield Spread Script is developed for forex traders, offering an automated tool to calculate the bond yield spread between two countries associated with the forex pair displayed on the chart.
Functionality:
The script starts by identifying the base and quote currencies of the current forex pair and aligns them with their corresponding national bond symbols based on user-selected maturity, with options ranging from 01Y to 30Y. It calculates the yield spread by subtracting the bond yield associated with the quote country from that of the base country, following the formula:
Yield Spread = Yield(Base Country) − Yield(Quote Country)
which is then displayed as a plot line on the chart.
This script relies solely on TradingView's internal yield symbols, with the following calculation:
"currency" => "first two letters" + maturity
And maturity, in this case, is the value that is configured in the indicator settings, for example:
"EUR" => "EU" + "02Y" will result in EU02Y -> which will be used in the formula, depending on the quote or base currency.
Application in Trading:
This indicator is invaluable for traders employing carry trading strategies or assessing currency strength based on traded interest rates as an indicator. A higher yield spread typically indicates a stronger currency, because the return obtained for holding the currency is higher.
Originality and Practicality:
This script is self-developed, aiming to fill the gap in automatic bond yield comparisons within the TradingView environment. It is particularly beneficial for traders focusing on macroeconomic factors affecting forex markets. Unlike other scripts, it integrates various bond maturities into one tool, enhancing its utility and application range.
Conclusion:
Designed for traders incorporating macroeconomics in their strategy, this script will be useful to calculate the bond yield differences automatically without having to enter a new formula for every new currency pair.
Compliance and Limitations:
The script complies with TradingView scripting standards, ensuring no lookahead bias and maintaining real-time data integrity. However, its utility depends on the comprehensive availability of bond yield data within TradingView. As not all countries issue bonds for each listed maturity, this may limit the script’s application for certain currency pairs or specific maturities.
Multi-Asset Performance [Spaghetti] - By LeviathanThis indicator visualizes the cumulative percentage changes or returns of 30 symbols over a given period and offers a unique set of tools and data analytics for deeper insight into the performance of different assets.
Multi Asset Performance indicator (also called “Spaghetti”) makes it easy to monitor the changes in Price, Open Interest, and On Balance Volume across multiple assets simultaneously, distinguish assets that are overperforming or underperforming, observe the relative strength of different assets or currencies, use it as a tool for identifying mean reversion opportunities and even for constructing pairs trading strategies, detect "risk-on" or "risk-off" periods, evaluate statistical relationships between assets through metrics like correlation and beta, construct hedging strategies, trade rotations and much more.
Start by selecting a time period (e.g., 1 DAY) to set the interval for when data is reset. This will provide insight into how price, open interest, and on-balance volume change over your chosen period. In the settings, asset selection is fully customizable, allowing you to create three groups of up to 30 tickers each. These tickers can be displayed in a variety of styles and colors. Additional script settings offer a range of options, including smoothing values with a Simple Moving Average (SMA), highlighting the top or bottom performers, plotting the group mean, applying heatmap/gradient coloring, generating a table with calculations like beta, correlation, and RSI, creating a profile to show asset distribution around the mean, and much more.
One of the most important script tools is the screener table, which can display:
🔸 Percentage Change (Represents the return or the percentage increase or decrease in Price/OI/OBV over the current selected period)
🔸 Beta (Represents the sensitivity or responsiveness of asset's returns to the returns of a benchmark/mean. A beta of 1 means the asset moves in tandem with the market. A beta greater than 1 indicates the asset is more volatile than the market, while a beta less than 1 indicates the asset is less volatile. For example, a beta of 1.5 means the asset typically moves 150% as much as the benchmark. If the benchmark goes up 1%, the asset is expected to go up 1.5%, and vice versa.)
🔸 Correlation (Describes the strength and direction of a linear relationship between the asset and the mean. Correlation coefficients range from -1 to +1. A correlation of +1 means that two variables are perfectly positively correlated; as one goes up, the other will go up in exact proportion. A correlation of -1 means they are perfectly negatively correlated; as one goes up, the other will go down in exact proportion. A correlation of 0 means that there is no linear relationship between the variables. For example, a correlation of 0.5 between Asset A and Asset B would suggest that when Asset A moves, Asset B tends to move in the same direction, but not perfectly in tandem.)
🔸 RSI (Measures the speed and change of price movements and is used to identify overbought or oversold conditions of each asset. The RSI ranges from 0 to 100 and is typically used with a time period of 14. Generally, an RSI above 70 indicates that an asset may be overbought, while RSI below 30 signals that an asset may be oversold.)
⚙️ Settings Overview:
◽️ Period
Periodic inputs (e.g. daily, monthly, etc.) determine when the values are reset to zero and begin accumulating again until the period is over. This visualizes the net change in the data over each period. The input "Visible Range" is auto-adjustable as it starts the accumulation at the leftmost bar on your chart, displaying the net change in your chart's visible range. There's also the "Timestamp" option, which allows you to select a specific point in time from where the values are accumulated. The timestamp anchor can be dragged to a desired bar via Tradingview's interactive option. Timestamp is particularly useful when looking for outperformers/underperformers after a market-wide move. The input positioned next to the period selection determines the timeframe on which the data is based. It's best to leave it at default (Chart Timeframe) unless you want to check the higher timeframe structure of the data.
◽️ Data
The first input in this section determines the data that will be displayed. You can choose between Price, OI, and OBV. The second input lets you select which one out of the three asset groups should be displayed. The symbols in the asset group can be modified in the bottom section of the indicator settings.
◽️ Appearance
You can choose to plot the data in the form of lines, circles, areas, and columns. The colors can be selected by choosing one of the six pre-prepared color palettes.
◽️ Labeling
This input allows you to show/hide the labels and select their appearance and size. You can choose between Label (colored pointed label), Label and Line (colored pointed label with a line that connects it to the plot), or Text Label (colored text).
◽️ Smoothing
If selected, this option will smooth the values using a Simple Moving Average (SMA) with a custom length. This is used to reduce noise and improve the visibility of plotted data.
◽️ Highlight
If selected, this option will highlight the top and bottom N (custom number) plots, while shading the others. This makes the symbols with extreme values stand out from the rest.
◽️ Group Mean
This input allows you to select the data that will be considered as the group mean. You can choose between Group Average (the average value of all assets in the group) or First Ticker (the value of the ticker that is positioned first on the group's list). The mean is then used in calculations such as correlation (as the second variable) and beta (as a benchmark). You can also choose to plot the mean by clicking on the checkbox.
◽️ Profile
If selected, the script will generate a vertical volume profile-like display with 10 zones/nodes, visualizing the distribution of assets below and above the mean. This makes it easy to see how many or what percentage of assets are outperforming or underperforming the mean.
◽️ Gradient
If selected, this option will color the plots with a gradient based on the proximity of the value to the upper extreme, zero, and lower extreme.
◽️ Table
This section includes several settings for the table's appearance and the data displayed in it. The "Reference Length" input determines the number of bars back that are used for calculating correlation and beta, while "RSI Length" determines the length used for calculating the Relative Strength Index. You can choose the data that should be displayed in the table by using the checkboxes.
◽️ Asset Groups
This section allows you to modify the symbols that have been selected to be a part of the 3 asset groups. If you want to change a symbol, you can simply click on the field and type the ticker of another one. You can also show/hide a specific asset by using the checkbox next to the field.
Currency Strength [LuxAlgo]The Currency Strength indicator displays the historical relative strength of 5 user selected currencies over a user selected period of time. Users can also display relative strength of currencies as a scatter plot, further informing on the evolution of currency strength.
🔶 SETTINGS
Display: Determines the type of data displayed by the indicator. By default, the trailing relative strength of currencies is displayed, with the other option displaying the scatter plot.
Timeframe: Timeframe period used to calculate currency relative strength.
🔹 Meter
Show Strength Meter: Displays the currency strength meter on the indicator panel.
Strength Meter Resolution: Resolution of the currency strength meter, higher resolutions allow to observe smaller difference in strength.
Location: Location of the currency strength meter on the indicator pane.
Size: Size of the currency strength meter.
🔹 Relative Strength Scatter Graph
Scatter Graph Resolution: Horizontal and vertical width of the scatter plot (in bars). Higher values allow a more precise position on the X axis.
🔶 USAGE
Measuring the relative strength of a currency allows users to assess the relative performance of a currency against a basket of other currencies.
The term "strength" can convey various interpretations depending on the indicator. Here "strength" is interpreted as an indicator of performance, with stronger currencies having greater performances over the selected period (positive changes of higher magnitude).
The Currency Strength indicator allows users to analyze the relative strength of currencies over a user selected period - the returned results will reset periodically and will accumulate afterward.
The above chart shows the hourly relative strength of various currencies on the 1min TF.
🔹 Scatter Graph
The scatter graph displays the relative strength of a currency over its value during the previous period. This not only allows users to see if a currency is strong... but also if it's getting stronger compared to the previous period.
In order to quickly interpret results, the graph is divided into four areas. A currency (displayed as a point) being in a specific area returns the following information:
Strong(Green): Currency has a positive relative strength (bullish) and is greater than its value over the previous period.
Improving (Yellow): Currency has a negative relative strength (bearish) and is greater than its value over the previous period.
Weakening (Aqua): Currency has a positive relative strength (bullish) and is lower than its value over the previous period.
Weak (Red): Currency has a negative relative strength (bearish) and is lower than its value over the previous period.
🔶 DETAILS
There is a wide variety of methods for the calculation of a currency's relative strength. The primary focus of the indicator is on the meter as well as the relative strength scatter graph. The currency strength calculation can be considered more basic.
Given two currencies, B (base) and Q (quote), the proposed indicator calculation process is as follows:
Exchange rate BQ(t) over time t is obtained, a rising value of BQ(t) means that a unit of B is now worth a higher amount of Q , highlighting strength of B over Q on that precise variation.
The individual relative strength over time IRS(t) is obtained as the percentage relatively close to the open difference of BQ(t) , that is:
IRS(t) = / open(t) * 100
Normalizing the close to open difference allows for the various currencies' relative strengths to approximately share the same scale.
The above operation is performed n times over a space of n currencies O( n ) . The obtained individual relative strengths for one specific currency are then added together, forming the final composite relative strength ( CRS ) of that currency:
CRS (t) = IRS (t) + IRS (t) + ... + IRS (t)
The cumulative sum of CRS(t) over the user selected period is then obtained.
In Chart Currency TickersQuick View of Multiple Currencies & Gold Price on Chart
In Chart Currency Tickers will help quick view of Multiple Currencies (Up/Down points & Percentage), you can change symbols on settings as per your requirement
മെയിൻ കറൻസികളും സ്വർണവിലയും റിയൽ ടൈം മോണിറ്റർ ചെയ്യുന്നതിനും മാർക്കറ്റ് സെന്റിമെൻറ് അറിയുന്നതിനും അതിനനുസരിച്ച് ട്രേഡിങ്ങ് ഡിസിഷൻ എടുക്കുന്നതിനും നിങ്ങളെ സഹായിക്കുന്നു
Happy Trading to All..!!!
Asif Kerim Naduvilaparambil
Currency Strength by Bollinger BandsOVERVIEW
This indicator is a currency strength by bollinger band.
CONCEPTS
- The currency strength of the passage is determined by each deviation of the Bollinger Bands.
- Wins if price is above MA, ±1σ, ±2σ. Mark is "○".
- Lose if price is below MA, ±1σ, ±2σ. Mark is "●".
- Display up to 9 currency combinations
- Support for bar indexes other than the latest
Currency Strength V2An 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 that increases color intensity the further it gets from 50.
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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 arrow in the current RSI column shows the difference in average RSI value between current and X bars back (user defined), telling you whether the combined RSI value has gone up or down in the last X bars.
Using the average RSI allows us to get a sense of the currency strength vs an equally weighted basket of the other majors, as opposed to using Indexes which are heavily weighted to 1 or 2 currencies.
The additional security calls for the extra timeframe make this slower to load than the original, but this was a user request so hopefully it will prove worthwhile for some people.
Those who find the loading too slow when switching between charts may be better off still using the original, which is why this is posted as a separate script and not an update to the original.
This is the table with Flat Color option enabled.
Currency Strength Index by zdmreCurrency strength expresses the value of currency. For economists, it is often calculated as purchasing power, while for financial traders, it can be described as an indicator, reflecting many factors related to the currency; for example, fundamental data, overall economic performance (stability) or interest rates.
The method used in this indicator is its strength against the US Dollar (xxxUSD)
Currencies:
EUR
GBP
AUD
NZD
JPY
CNY
CAD
Your Symbol (Optionally) defval: TRYUSD
You can also optionally add a symbol. However, this unit must be in the form of xxxUSD
Trend Trading with Currency Strength MeterThis is a trend trading strategy designed mainly for forex made of two big components:
First we have the currency meter, which is made of taking TSI of different INDEXes such as EUR, USD, GBP, JPY, NZD, AUD , CHF and CAD.
Once we establish which one is the weakest and most powerful, we pair them together and we go on that chart.
Lastly we check with the EMA 200 to confirm our direction.
We can see in this example for the USDJPY chart, that USD is the strongest, JPY is the weakest and ema confirm our bullish trend.
For timeframe in general I recommend big timeframes, 1-4h+ , and as a mentality a swing trading mentality, we can stay in trade for days/weeks.
For exit in general I recommend to exit when either one of the pairs losses/gain power or when the EMA is crossing with current candle
If you have any questions, let me know !
Currency StrengthThis 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. value looks at the difference in average RSI value between current and X bars back (user defined), telling you whether the combined RSI value has gone up or down in the last X bars.
Using the average RSI allows us to get a sense of the currency strength vs an equally weighted basket of the other majors, as opposed to using Indexes which are heavily weighted to 1 or 2 currencies.
The table doesn't load super fast as we are making 15 Security requests to get the values for each pair (where possible we reverse the values of the pair to reduce Security requests, e.g. we don't need to request EURUSD and USDEUR, we reverse the value to calculate the USD RSI).
Currency Strength DashboardDrawing Currency Strength (consists of: USD, EUR, JPY, GBP, AUD, CHF, CAD, NZD) historical plots in parallel with currency strength heat map and dynamic legend, which makes this script unique as Dashboard.
Calculation criteria is based on user's input: Session, by which you can recalculate based on D, W, M.
CCFp (Complex Common Frames percent) ,Currency StrengthCCFp displays the strength of a currency pair.
It is based on the CCFp of MT4.
It is available for USD, EUR, GBP, CHF, JPY, AUD, CAD, NZD.
TIL Currency Strength IndexTrading Indicator Lab’s Currency Strength Index for TradingView is a “multitool” of currency indices. It can calculate the strength index of major currencies namely:
- US Dollar (USD)
- Euro (EUR)
- British Pound (GBP)
- Swiss Franc (CHF)
- Japanese Yen (JPY)
- Canadian Dollar (CAD)
- Australian Dollar (AUD)
- New Zealand Dollar (NZD)
Instead of using traditional formulas for index such as the Dow Jones FXCM Dollar Index, the Currency Strength Index indicator uses a close formula that factors in all the 8 currencies to calculate a whole and accurate representation of each currency’s strength.
Inputs
- Currency – allows the user to select one of 8 currencies to calculate and display its strength index. Choices are USD, EUR, GBP, CHF, JPY, CAD, AUD, and NZD.
- Bullish Candle Color – sets the color of bullish candlesticks in the index
- Bearish Candle Color – sets the color of the bearish candlesticks in the index
Best Currency Strength Indicator By Mahfuz AzimBest Currency Strength Indicator is a visual guide that demonstrates which currencies are currently strong, and which ones are weak.
FX Currency strength indicators include multiple calculation to choose from
1. Relative Strength Index ( RSI )
2. True Strength Index (TSI)
3. Absolute Strength Index (ASI)
4. Linear Regression Slope ( LRS )
5. Rate of Change ( ROC ) and
6. Z-Score
Quantum Currency HeatmapTrading the currency markets is a complex business. With so many pairs and multiple timeframes it is almost impossible to monitor them all – but with the Currency Heatmap you can. The Currency Heatmap indicator delivers the information you need to base your trading decisions on the entire spectrum of currency pairs derived from the 8 major currencies: namely the US dollar, the Euro, the British Pound, the Swiss Franc, the Japanese Yen, the Canadian Dollar, the Australian Dollar and finally the New Zealand Dollar. In one clear and simple table, you can see instantly the entire weight of market sentiment across all 28 pairs and across all timeframes. A global view of risk and sentiment on one chart.
It instantly displays the “hottest” and “coldest” areas of the financial landscape. Vertically, 28 currency pairs are listed and ranked from the most bullish (top) to the most bearish pair (bottom) and reflect the data ranking on the associated currency matrix indicator. And this is where it gets interesting: horizontally, the performance scores of each currency pair are displayed in 5 customizable timeframes.
Interpreting the colors
Each cell of the Currency Heatmap indicator is color coded making it possible to interpret it instantly with just a glance, much like looking at a sophisticated thermal imagery scanner, but for Forex. If you check out the indicator, you will see how easy and intuitive it is, but let us just expand on them here.
If we start with the performance scores. This is the value the indicator assigns to each currency pair representing how positively or negatively its price moved over a certain period. If you have the Currency Matrix indicator, you will also notice that the figures are the same. This is because both use the same algorithm in calculating the performance scores. The cells can be any of the two colors depending on the performance score. This is the color coding used when viewing the currency pairs ACROSS the 5 timeframes or what we like to call the time horizon:
- Green – if the currency pair’s performance score for the aligned timeframe is POSITIVE.
- Red – if the currency pair’s performance score for the aligned timeframe is NEGATIVE.
However, the pairs are then ranked VERTICALLY using a dynamic graded color code transitioning from green, to yellow and to red in that order. The performance scores of the currency pairs in 5 timeframes are added together. The currency pairs are then ranked by their sum from the most positive to the most negative and are color coded as follows:
- Green shades – the sum of the currency pair’s performance scores in 5 timeframes is well above the fulcrum of zero.
- Yellow shades – the sum of the currency pair’s performance scores in 5 timeframes is relatively flat and around the fulcrum of 0. It can either be positive or negative but trails the numbers closest to 0.
- Red shades – the sum of the currency pair’s performance scores in 5 timeframes is well below the fulcrum of zero.
The gradation of color is dynamic and hence the transition of colors will depend entirely on the sum of the currency pair’s performance scores in 5 timeframes as explained above. As with all our other indicators, this is dynamic and is constantly shifting in real time to reflect the ebb and flow of sentiment across the timeframes.
Customizable timeframes
The Currency Heatmap for TradingView allows you to change the timeframe of each of its 5 columns. This can be configured in the indicator settings where you can select 1 of many timeframe options namely:
- 1 min
- 2 min
- 3 min
- 4 min
- 5 min
- 10 min
- 15 min
- 30 min
- 45 min
- 1 hr
- 2 hrs
- 3 hrs
- 4 hrs
- 1 day
- 2 days
- 3 days
- 1 wk
- 1 mo
The 5 default timeframes (from left to right) are listed below:
- Timeframe 1: 1 min
- Timeframe 2: 1 hr
- Timeframe 3: 4 hrs
- Timeframe 4: 1 day
- Timeframe 5: 1 wk
The ranking of the 28 currency pairs changes depending on the timeframes you select for each column. This flexibility allows you to monitor the strength of the pairs within your own range of timeframes in real time.
Weight of the timeframes
One important factor to consider when interpreting the Currency Heatmap indicator and the ranking aspect, is the fact that the performance scores in each timeframe inherently possess weight, and this is reflected in how the indicator has been developed. As you can appreciate, the weight of sentiment in a slower timeframe is greater than that in a faster timeframe. Simply put, the weight of each timeframe is directly proportional to the timeframe itself. Faster timeframes carry less weighting to the overall ranking, whilst slower timeframes carry more. This means currency pairs ranking near or at the bottom of the ladder (bearish) are most likely to have red cells through the slower timeframes or the columns at the right-hand side of the indicator. Similarly, the currency pairs at the top and ranking as bullish or very bullish, again are most likely to have green cells through the slower timeframes.
Stepping back, the changing colors deliver a heatmap reflecting the relative performance of the 28 currency pairs across ALL timeframes in real time. This gives a horizontal analysis of the currency pairs across time. Immensely powerful. And empowering you as a trader to make clear, logical, and fast decisions.
Currency filter
The Currency Heatmap allows you to filter the currency pairs relevant to the currency you are analyzing. An input is provided in the indicator’s settings window which you can click to select a currency.
- USD selects all currency pairs that contain the US Dollar.
- EUR selects all currency pairs that contain the Euro.
- GBP selects all currency pairs that contain the British Pound.
- CHF selects all currency pairs that contain the Swiss Franc.
- JPY selects all currency pairs that contain the Japanese Yen.
- CAD selects all currency pairs that contain the Canadian Dollar.
- AUD selects all currency pairs that contain the Australian Dollar.
- NZD selects all currency pairs that contain the New Zealand Dollar.
Click the Filter option box and select a currency in the list to apply a filter. If you like to undo a filter, simply select NONE. When a certain currency filter is in effect, the currency pairs that include the selected currency in the heatmap appear in color.
Getting started
Here are some further details on the Currency Heatmap indicator to help you get started:
- Your Quantum Currency Heatmap indicator must always be applied in a 1 min chart.
- The indicator occupies its own indicator window in the chart. We recommend expanding the indicator vertically to get a complete view.
- When you first apply the indicator, please allow a few seconds for the data to build in history.
Currency Dashboard
By itself, the Quantum Currency Heatmap indicator is a powerful trading tool for identifying trading opportunities, quickly, easily on a single chart. However, its development is part of a new indicator bundle that we like to call the Quantum Currency Dashboard which consists of the following indicators:
- Quantum Currency Strength Indicator (CSI)
- Quantum Currency Matrix
- Quantum Currency Array
- Quantum Currency Heatmap
These four indicators then provide a unique and compact insight into all the various aspects of strength and weakness for both currencies and currency pairs from trend and momentum to overbought and oversold. What is unique is that using four charts you are then able to monitor the myriad combinations of strength, weakness, momentum, congestion and divergence across the entire forex complex at a click of a button. And even more powerfully giving you the confidence to get in and stay in for maximum profits. No more missed opportunities, no more struggling with multiple charts, and no more trader regret whatever your trading style approach.
Quantum Currency ArrayThe Currency Array indicator has been developed to measure and display quickly and easily, the speed at which currency pairs are rising and falling. Just like the Quantum Currency Matrix, the Quantum Currency Array indicator displays the complete array of 28 currency pairs derived from the 8 major currency pairs as featured in the Quantum Currency Strength Indicator (CSI):
- US Dollar
- Euro
- British Pound
- Swiss Franc
- Japanese Yen
- Canadian Dollar
- Australian Dollar
- New Zealand Dollar
In displaying all the pairs in an array this gives an instant view of the relative trend strength and displays this relationship in a visual and intuitive manner in three ways. Each one shows a different perspective and insight into the complex world of currency strength concepts.
Ranked list
First, the indicator displays 28 major currency pairs in a ranked list ordered by the strength of the trend. The currency pair with the greatest momentum and steepest uptrend appears at the top of the list while the one with the greatest momentum and steepest downtrend appears at the bottom. All the other pairs are then ranked accordingly, and color coded from red at the bottom, to yellow and into green at the top of the ranking table. Currency pairs in congestion appear in the middle of the table.
In the ranked list, alongside the ranks of currency pairs is a second column that provides signals as to whether a particular currency pair is approaching an overbought or an oversold state. These are then signaled in two ways. First a signal the currency pair is approaching such a state, and second when it has arrived in this condition. These are coded as follows:
- (OB) – This signal appears as a dark shade of blue which means that the currency pair is APPROACHING an OVERBOUGHT state.
- OB – This signal appears as a bright shade of blue which means that the currency pair is IN an OVERBOUGHT state.
- (OS) – This signal appears as a dark shade of red which means that he currency pair is APPROACHING an OVERSOLD state.
- OS – This signal appears as a bright shade of red which means that the currency pair is IN an OVERSOLD state.
Once any of these signals appears beside a currency pair, it indicates the potential change in direction of the trend, which can then be considered further by analysis of the chart. For example, if the EURGBP is seen at the very top of the list and beside it is an OB signal, it means that although the uptrend is seemingly strong, the bullish strength driving it may be reaching an exhaustion point, starting to diminish with a possible change in direction in due course.
Currency Array
Secondly, it displays the same 28 major currency pairs as lines in a graph that diffuse out into the array and with varying magnitudes depending on the strength and inclination of each currency pair’s trend. This means the order in which they appear vertically follows the same ranking in the table alongside, but as a graphical display, instantly, visually and numerically revealing the actual steepness of each currency pair’s trend. As you would expect the currency pair with the fastest and steepest uptrend also has the steepest UPWARD line in the graph. Likewise, the fastest and steepest downtrend also has the steepest DOWNWARD line in the graph. Currency pairs with the least steepness in their trend (and in congestion) are found closest to the 0 level of the graph and appear horizontal.
You can also see each line in the array has one of 2 different line styles. Its style depends on the state of its corresponding currency pair as defined above.
- Dashed – This means the currency pair is trending, but not close to an overbought or oversold condition.
- Solid – This means the currency pair is at an overbought or oversold condition.
One of the most powerful features of the array when watching trends develop in real time is not only considering one pair, but how pairs move together ‘en masse.’ This can give you huge confidence when taking a position in the market, as you will see all the currency pairs for that complex “marching together” stretching higher or stretching lower and reflecting market sentiment for that currency and its associated pairs. This is immensely powerful, and will give you the confidence, not only to take a position, but then to hold it to maximize your profits from the trend.
Currency filter
The Currency Array indicator allows you to filter the currency pairs relevant to the currency you are analysing. Just like the Quantum Currency Matrix indicator, an input is provided in the indicator settings window which you can click to select a currency.
- USD selects all currency pairs that contain the US Dollar.
- EUR selects all currency pairs that contain the Euro.
- GBP selects all currency pairs that contain the British Pound.
- CHF selects all currency pairs that contain the Swiss Franc.
- JPY selects all currency pairs that contain the Japanese Yen.
- CAD selects all currency pairs that contain the Canadian Dollar.
- AUD selects all currency pairs that contain the Australian Dollar.
- NZD selects all currency pairs that contain the New Zealand Dollar.
Click the Filter option box and select a currency in the list to apply a filter. If you like to undo a filter, simply select NONE. When a certain currency filter is in effect, the currency pairs that include the selected currency in the table appear in color. Meanwhile, all currency pairs that include the selected currency in the array are the only ones displayed.
Divergence
And this leads on to the third aspect of the Currency Array indicator which is this – it will give you an instant heads-up to divergence across a currency complex, and the easiest example here is with the Japanese yen which is the counter currency for the major and cross pairs. On the array we should expect to see all the currency pairs on one side of the mid point or the other. After all, if the flow of sentiment for the Yen is universal, then we would expect to see all the currency pairs aligned accordingly, whether selling or buying the Japanese Yen. If not, then we have some divergence, and the flow of sentiment is not universal. If you are trading a pair which is perhaps counter to broad sentiment, then this is a high risk proposition. The Currency Array will tell you this instantly and visually and across all the timeframes with a single click and on ONE chart. No need to try to scan 28 charts. It is all here for you.
Dynamic graded color coding
One of the coolest features we have introduced across all our indicators is the dynamic graded color coding, found in both the ranked list and the graph which makes analysis intuitive and fast. You can probably see instantly just from the images how easy it is, but here is a walkthrough.
The currency pairs appear as a color in the range of a green-yellow-red gradient (in that order). Simply put, the color of each currency pair varies depending on its value, in this case the steepness of the trend:
- Green shades – the steepness of the currency pair’s trend is positive and is well above the fulcrum of zero.
- Yellow shades – the steepness of the currency pair’s trend is relatively flat and around the fulcrum of 0. It can either be positive or negative but trails the numbers closest to 0.
- Red shades – the steepness of the currency pair’s trend is negative and is well below the fulcrum of zero.
The same color gradation applies on the array itself. It is important to note the yellow levels are not precisely in the middle of the list (rank 14 of 28). The gradation of color is dynamic and hence the transition of colors will depend entirely on the steepness of the trend of each currency pair as explained above. As with all our other indicators, this is dynamic and is constantly shifting in real time to reflect the ebb and flow of sentiment across the timeframes.
Getting Started
Here are some further details on the Currency Array indicator to help you get started:
- Your Quantum Currency Array indicator can be applied to any chart for any currency pair. The chart does not influence or affect the appearance or performance of the indicator. For example you can apply the indicator to a EURUSD, a GBPUSD, or a USDCHF, or any other pair. The indicator will display in an identical way on each chart.
- The indicator occupies its own indicator window in the chart. We recommend expanding the indicator vertically to get a complete view.
- The indicator works in all timeframes.
- When you first apply the indicator, please allow a few seconds for the data to build in history.
Currency Dashboard
By itself, the Quantum Currency Array indicator is a powerful trading tool for identifying trading opportunities, quickly, easily, and on ONE chart. However, it was developed as part of what we like to call the Quantum Currency Dashboard which consists of the following indicators:
- Quantum Currency Strength Indicator (CSI)
- Quantum Currency Matrix
- Quantum Currency Array
- Quantum Currency Heatmap
These four indicators then provide a unique and compact insight into all the various aspects of strength and weakness for both currencies and currency pairs, from trend and momentum to overbought and oversold. What is unique is that using four charts, you are then able to monitor the myriad combinations of strength, weakness, momentum, congestion and divergence across the entire forex complex at a click of a button. And even more powerfully, giving you the confidence to get in and stay in for maximum profits. No more missed opportunities, no more struggling with multiple charts, and no more trader regret, whatever your trading style or approach.
NVME Currency Strength ProNVME Currency Strength Pro was made to help confirm the trends, to help stay in winning positions longer and to help you get out of losing trades sooner. So why is ours unique? The answer is simple, unlike other currency strength indicators, ours loads in 2 seconds rather than 15 seconds or longer, which will cause less frustration when changing settings. Also, we have done a different approach to the usual line base for the currency strengths, with ours we have made implemented it with our module and used the data provided to create a price following bubble and oscillator that shows you what is in an uptrend or a downtrend. There are multiple options for you to customise and it is really easy to use and understand.
The steps to follow for using this indicator since data will be inputted manually:
1) Goto settings and change pair id 's input to the pair that you are currently analysing.
2) Change pair id 's input to a pair that begins with the ending of the first pair, for example 1st pair is EURUSD so 2nd pair would be any USD pair.
3) Play around with the calculation module pre-sets and the length settings to find what you like the look off.
4) Enjoy :)
NVME Currency Strength Pro works well with NVME Vanquisher X Algorithm and NVME Oscillator X.
CSM Slope Changes [FB]The script highlighted in this chart is what I call the slope changes of the CSM trigger lines,. The trigger lines refer to a special non-lagging moving average derived off currency indices that will act as the potential signal to enter into positions if the rest of conditions as part of the CSM strategy agree. The script acts as an inflection point when an imbalance of flows in currency indices are expected based on the slope of the CSM trigger lines.
When the signal occurs, an area will be colored in green (long) or red (short), depending on the trade direction, of the quality of the signal is sudden in nature. If the slope change doesn't not happy in synchronicity but there is a delay of 1 candle in either index, the color of the signal will be in blue (long) or orange (short).
