everyone
I have to make an indicator which draws its value for currency (AUD, CAD, etc…).
I think that:
1) when normalized 0-100 (ex. RSI, STOCH…) the formula is:
when currency interested is in base of symbol [x += indicator value] while when it is quoted [x += 100 indicator value]. Now result / 7 to get average value.
Ex. to get RSI of AUD
(AUDCAD + AUDCHF + AUDJPY + AUDNZD + AUDUSD + (100 - EURAUD) + (100 - GBPAUD)) / 7
Is it right or is preferred other formula?
2) when it isn’t normalized (ex. Momentum and similar…)
In this case first I invert Bid (1/Bid) and then calculating the normal formula of the indicator.
Thanks to everyone who help me
I have to make an indicator which draws its value for currency (AUD, CAD, etc…).
I think that:
1) when normalized 0-100 (ex. RSI, STOCH…) the formula is:
when currency interested is in base of symbol [x += indicator value] while when it is quoted [x += 100 indicator value]. Now result / 7 to get average value.
Ex. to get RSI of AUD
(AUDCAD + AUDCHF + AUDJPY + AUDNZD + AUDUSD + (100 - EURAUD) + (100 - GBPAUD)) / 7
Is it right or is preferred other formula?
2) when it isn’t normalized (ex. Momentum and similar…)
In this case first I invert Bid (1/Bid) and then calculating the normal formula of the indicator.
Thanks to everyone who help me
Be Water My Friens