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Free currency strength indicators

  • #1
  • First Post: Aug 26, 2020 5:31am Aug 26, 2020 5:31am
I put together these indicators to measure the "absolute" strength of each currency. It basically adds up the value of all of the currencies pairs and puts it on a line graph. So EURUSD + EURCHF + EURJPY, etc. Of course it turns the quotes round for the pairs where the indexed currency is listed second.

There are some quirks I can't figure out like it won't display on a daily chart. I put them all on the weekly chart corresponding to the pair so eurindex on EURUSD and so on. I put a timeframe option on EURUSD but found it better on daily charts anyway so set that to 1440. The suffix option allows you to add any suffix that your broker might use. Leave it blank if not needed.

I also added a 10 sma of the previous indicator to give it some sort of trend context. I've got this saved on a profile and it looks like the screenshot. This enables you to see where a currency is going overall so NZD getting weaker, EUR maybe about to get weaker, USD could be turning round, etc. I like to keep an eye on it to consider where the next long term trend might be about to occur.

I'm putting these on here for free so I hope you find them useful.
Attached Image (click to enlarge)
Click to Enlarge Name: currency absolute strength indicies.PNG Size: 106 KB
Attached File(s)
File Type: zip currency strength indicies.zip   4 KB | 516 downloads
  • #2
  • Aug 26, 2020 7:10am Aug 26, 2020 7:10am
Quoting Hugh Briss
I put together these indicators to measure the "absolute" strength of each currency. It basically adds up the value of all of the currencies pairs and puts it on a line graph. So EURUSD + EURCHF + EURJPY, etc. Of course it turns the quotes round for the pairs where the indexed currency is listed second. There are some quirks I can't figure out like it won't display on a daily chart. I put them all on the weekly chart corresponding to the pair so eurindex on EURUSD and so on. I put a timeframe option on EURUSD but found it better on daily charts...
Hello Hugh!
Thanks for the indis, but they do not display on any of my time frames... any clue why?
I am suspecting the bars it looks back to are not enough, but I will try to adjust them...
Thanks
Those who don't believe in magic will never find it
  • #3
  • Aug 26, 2020 7:14am Aug 26, 2020 7:14am
Hello, do you have the suffix set correctly? My broker is _SB (Pepperstone), yours might be different? If that's wrong then it can't find the data. Also you would need to have had a daily chart open of every pair of the major crosses, not open all the time, just once so it can download the data. Check those and let me know. Thanks.
  • #4
  • Aug 26, 2020 7:17am Aug 26, 2020 7:17am
Quoting Hugh Briss
Hello, do you have the suffix set correctly? My broker is _SB (Pepperstone), yours might be different? If that's wrong then it can't find the data. Also you would need to have had a daily chart open of every pair of the major crosses, not open all the time, just once so it can download the data. Check those and let me know. Thanks.
No , no suffix or prefix, I have Global Prime and Blueberry markets, tried them on both with no luck
Will thy to find what is wrong, if I do will get back to you
Thanks Hugh!
Those who don't believe in magic will never find it
  • #5
  • Aug 26, 2020 9:39am Aug 26, 2020 9:39am
Ok, no problem, please do let me know if you find a solution. I know I had trouble putting it on daily charts even though it calculates using dailies, no idea why. Could it be you haven't had every pair open on a daily to download the data?
  • #6
  • Aug 26, 2020 10:42am Aug 26, 2020 10:42am
Quoting Hugh Briss
Ok, no problem, please do let me know if you find a solution. I know I had trouble putting it on daily charts even though it calculates using dailies, no idea why. Could it be you haven't had every pair open on a daily to download the data?
Ok, found the problem..lol
On your indicator setting you have as a suffix _SB, well I have to erase that, once I erase that and leave it blank they appear

Thanks again!
Those who don't believe in magic will never find it
  • #7
  • Aug 26, 2020 10:51am Aug 26, 2020 10:51am
Quoting Hugh Briss
Ok, no problem, please do let me know if you find a solution. I know I had trouble putting it on daily charts even though it calculates using dailies, no idea why. Could it be you haven't had every pair open on a daily to download the data?
Ok Hugh, I think I found the problem..
The only indicator that has an "time frame" input is the EUR, all the other do not have one so the user can change it
So look at the picks below, as you can see we can view the 4h and daily on this one but not on the other ones,
can you please post the ones with an TF input this was we can change ans needed

Thank you!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCHFH4.png Size: 16 KB
Click to Enlarge Name: USDCHFDaily.png Size: 15 KB
Those who don't believe in magic will never find it
  • #8
  • Aug 26, 2020 11:00am Aug 26, 2020 11:00am
Glad you got some of it working. As I said in the original post there's not a lot of benefit to changing timeframes so you just need to set it to 1440 on the eurindex. Also as I said I just put them all on separate weekly charts rather than trying to put them all on one chart. If you do that then it's not easy to read them as well.
  • #9
  • Aug 26, 2020 11:09am Aug 26, 2020 11:09am
Quoting Hugh Briss
Glad you got some of it working. As I said in the original post there's not a lot of benefit to changing timeframes so you just need to set it to 1440 on the eurindex. Also as I said I just put them all on separate weekly charts rather than trying to put them all on one chart. If you do that then it's not easy to read them as well.
Thank you I just put them together to post them here
I will change the code so all of them can be visible
Those who don't believe in magic will never find it
  • #10
  • Last Post: Aug 27, 2020 7:07am Aug 27, 2020 7:07am
Here is a version where you can change the timeframe. It may be useful for shorter term traders to see where a whole currency is going rather than just one pair. I actually quite like it on weekly and monthly charts but that's more my timeframe.
Attached File(s)
File Type: zip version 2.zip   4 KB | 478 downloads
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