This is an indicator that we've been using for a while to pinpoint currencies that are strong/weak. By knowing which currencies are strong and weak, you can focus your attention on the currency pairs that are actually moving, or plan ahead when researching trades.
This indicator gives the Relative Currency Strength, on any timeframe, for every major currency: USD, EUR, GBP, JPY, CHF, CAD, AUD, and NZD.
The indicator includes labels if you need them (you can toggle on/off - default=off), but you will quickly get used to which colour line represents which currency.
You can also choose to show/hide any currency, for isolation or clarity, e.g. only showing USD, EUR and JPY if that's all you're interested in.
Note: due to how much data is being pulled in and processed, this indicator does take a while to load.
Hello AG- You dont seem to respond/reply. I also wanted to ask what period of RSI did you use for the currency strength? Secondly can you kindly make the indicator an auto select too in terms of the indexes on chart pairs? Thanks and look forward to your updates. Where else can i follow you outside tradingview?
GhosTrader_GT
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Sorry ignore my last post. I see this one has all 8 pairs. Great tool. but can you make it have the auto select function. so that when you select a pair it automatically shows the indexes for the pair on chart alone and you can deactivate and activate the function if needed. (trading made easy). rather than unchecking boxes and checking index boxes when viewing any chart pair. I dont mind if it also has an alert notification when there is a cross over. I love the tool and have a good system for it. Cheers.
GhosTrader_GT
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Hi why do the currency index have either NZD of CHF in them (7) instead of (8)?