OPEN-SOURCE SCRIPT
Currency Relative Strengths [GM] - Data Indicator
I created this tool for the purpose of determining strongest and weakest currencies over different periods of time. Each major currency is compared to the field of other majors and its average change is measured over a predetermined period of time. The result is displayed as a percentage. I use it for trend following but it can also be used to fade exhaustion.
Instructions
Instructions
- Add indicator to chart
- Select a time frame under settings
- Place cursor over period of interest
- Click "Data Window" on right hand side bar
- View % change avg values for each currency
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
Disclaimer
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