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Currency Strength MeterCurrency Strength Meter — 8 Majors Track real-time relative strength across the 8 major currencies in a single panel: USD, EUR, JPY, GBP, AUD, CHF, CAD and NZD. Each currency is benchmarked against the average performance of the group, so you can instantly see which currencies are bid and which are offered — without flipping between a dozen FX charts. What it shows Each line represents a currency's strength relative to the basket average, expressed in basis points (bps) of percentage move since the anchor reset. A currency above the zero line is outperforming the average, below zero it's underperforming. The relative ranking matters more than the absolute values — if USD is at +40 bps and JPY is at -60 bps, you're looking at a 100 bps gap of relative momentum that typically shows up in USD/JPY price action. The math: the script pulls EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, USDCHF, USDCAD, computes each currency's percentage move since the anchor (inverted for the quote currencies), then subtracts the basket mean so all 8 strengths sum to zero. This removes the USD bias inherent to most "strength meters" that just measure pairs against the dollar. Why it matters Currency strength meters cut through the noise of individual pair charts. When you see the same pattern repeated across multiple pairs (EUR weak vs USD, EUR weak vs JPY, EUR weak vs GBP), it's no longer about one pair — it's about EUR itself. This indicator surfaces that signal in one glance. Particularly useful for: Pair selection — long the strongest, short the weakest for maximum dispersion Avoiding chop — when two currencies are clustered near zero, their cross is likely to range Spotting regime shifts when a currency suddenly breaks away from the pack Confirming or fading reactions to central bank decisions, CPI, NFP across the FX complex Filtering out fake breakouts on individual pairs that aren't backed by broader strength Viewport-following labels (the killer feature) Unlike most strength meters where labels stick to the latest bar, the labels here follow the right edge of your visible viewport . Scroll back in history and the labels update to show the strength values at that point in time — not at the current bar. This lets you study historical setups with the same readability as the live state, no zooming and hovering required. Labels are automatically positioned to avoid overlap when multiple currencies are clustered, with configurable spacing (auto or manual). Anchor modes Daily : reset at the start of each trading day (default — best for intraday) Weekly : reset at the start of each week (best for swing trading) Session (Lookback) : rolling N-bar window for continuous measurement (best for context-free relative strength) Settings Reset anchor : Daily, Weekly, or rolling Session lookback EMA smoothing : optional smoothing to filter intrabar noise (1 = raw, no smoothing) Line width : 1 to 4 Currency toggles : show or hide each of the 8 currencies independently Custom colors : each currency line can be recolored Label gap : auto (scales with range) or manual (fixed bps gap) Zero line : visual reference for relative strength sign Recommended setup Apply on any forex pair, on a 15m to 1h timeframe for intraday work, or 4h to daily for swing analysis. The indicator uses the chart's symbol only as a time base — the strength calculation is independent of which pair you're viewing. Best paired with the underlying price action: when a currency breaks out on the strength meter, look at its strongest/weakest counterpart to find the best pair to trade the move. Notes Strength is measured against the 7 majors using direct or inverted USD crosses. JPY, CHF and CAD are inverted (since they're quote currencies vs USD in their major pair), so a rising USDJPY shows as JPY weakness, not strength. The mean-subtraction step normalizes the basket so all 8 values sum to zero, giving you true relative momentum rather than dollar-skewed readings. Feedback and suggestions welcome.
Penunjuk Pine Script®
oleh ValentinH-5
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. ________________________________________________________________________________ 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.
Penunjuk Pine Script®
oleh HayeTrading
4
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).
Penunjuk Pine Script®
oleh HayeTrading
7
Daytrader strategies for major currenciesHello, This technique is for those who want the most simple method that is almost fool-proof. It must be done only during the busiest trading hours, 3 am to 11 am EST. This method doesn't work in sideways markets, only in volatile trending markets. Indicators: Ema 3 MA 20 Awesome Oscillator. Enter Long: when the red 3 EMA has crossed up through the middle band at the same time, the AO should be approaching or crossing it's zero line, going up. Enter Short: when the red 3 EMA has crossed down through the middle band at the same time, the AO should be approaching or crossing it's zero line, going down. In this strategy, both the entry and exit happen only during the london session.
Strategi Pine Script®
oleh SoftKill21
4