Global Sentiment Index indicator

Hy FF Junkies!

I would like to use this indicator:

"Where “qi” are weight constants for 17 euro crosses: EUR vs. U.S. dollar, pound, Swiss Franc, yen, Canadian dollar, Australian dollar, New Zealand dollar, Argentinian Nuevo peso, Brazilian real, Chinese renminbi, Indonesian rupiah, Indian rupee, South Korean won, Mexican peso, ruble, Turkish lira and South African rand . The variable di(t) is a digital sentiment function for these crosses. Our index reflects the weighted sentiment for the euro on a global scale and is quite an accurate indicator. Similarly, we can calculate indexes for USD, GBP, CHF, JPY, etc."

Can you help me?

Lot of thanks, and hope for your big accounts!

Nobody? I think that the picture is good to see the signals... it's not bad...

Hi,

Looks like your graphic was sourced from May's edition of Futures mag.

The di sentiment value is apparently an average of all of the listed currencies, each being weighted by its respective qi value. However, I couldn't find any info there on how the qi values are obtained. Assuming you're thinking about creating a MT4 indy, you'd need to either (1) find a MT4 br0ker who provided all of the necessary crosses, and also derive your own qis, or (2) obtain the data from some external source, and use something like the Plot External Data indy (in my old Plot News thread) to plot it.

The predictive quality of the plots in the Futures mag look impressive, but these may or may not be typical. Personally, I'd want to see evidence that the sentiment index outperforms a 'standard' currency strength plot (as is being used here, for example), in order to justify any kind of development time and effort.

David