My udpdated version provide the following 3 features
1) the indicator refreshes itself for current bar, while the original does not.
2) the indicator can be used for brokers who has extra char in their symbol for pair, such as "EURUSD_fx", while the original does not.
3) the indicator has extra external variable, if ShowOnlyPairOnChart=True, then the indicator show the line for the current pair, however, it still takes all pairs into calculation.
Usage: it can be used to detect the relative strength for each currency by calculate their MAs. The MA settings are optimized by Simeon Semenych, so one best is not change it.
It is best to be used on H4 and larger timeframe.
If you want to chech the relative strength on small timeframe, then the T101 system is better in combination with cluster indicator. search Traders101 system on Forexfactory then.
The indicators takes around 1 minuet to load the first time to load up, since it calculates all the pairs MA. Be patient.
Indicator works with "ModeMA=0" - SMA and "ModeMA=1" - EMA.Simple daily range script
Script for calculation average daily range for last agoYear-"calendar" years, last agoMonth - calendar months, ......