The best trend-finding indicator - page 4

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By the euro on the story. Made in haste, just for experimentation.

 
Integer:

The euro on the story. Made in haste, just for experimentation.

Your indicator was very helpful in understanding the essence of this "meter". And immediately I got an idea how to make it more objective or something.
That is, on the model of the dollar index

Try to make EUR index (if it is possible to put it that way) of considered currencies. In this case, from USD, JPY, GBP, CHF, AUD, finalizing your code:

ExtMapBuffer1[i]=100*(s1("EURUSD",i)+s1("EURJPY",i)+s1("EURGBP",i)+s1("EURCHF",i)+s1("EURAUD",i))/5;
where s1=(c-l)/(h-l);

Since the basic calculation of "meter" is done as an average of (c-l)/(h-l) values for each currency pair as a percentage and therefore we only need to enter correction factors for the corresponding summands and we will obtain something similar to the index:

ExtMapBuffer1[i]=100*(s1("EURUSD",i)*K1+s1("EURJPY",i)*K2+s1("EURGBP",i)*K3+s1("EURCHF",i)*K4+s1("EURAUD",i)*K5)/5,
where s1=(c-l)/(h-l);

Just what is the guideline for assigning these coefficients?
It would be interesting to know the opinion of forum regulars on the degree of delirium of the idea.

P.S.Maybe someone will be useful article on the calculation of the dollar index.
 
VBAG, I don't think coefficients are needed here. The readings from each character are already normalised between 0 and 100. However, you can experiment with coefficients too, they should be equal to 1 in total. And to select according to your needs, decide on the criterion, for example channel optimization - 20% of bars outside the channel, the rest inside the channel, and here...... nothing comes to mind. .... maybe in proportion to the gross output of each country :-)
 
Look for the MIndex indicator, it is available here in the libraries, and you can find it on the forum.
It calculates indices for all currencies, and all calculated indices are expressed in the same units.
 
Integer, at first this "meter" attracted me by its unusual (in my opinion ergonomic) way of displaying in the form of bars directly on the chart and I was wondering how it is all programmatically implemented. And it probably makes sense to make fun of it. It might be a good tool, in the sense that we could get, roughly speaking, an "index" of a currency pair from a certain set of other currencies.
For example, we want to see how GBP looks only relative to EUR and JPY. It would be very useful, especially last Thursday after the Bank of England's interest rate announcement, when the whole world was mocking the cable.
 
Mak:
Look for the MIndex indicator, it is available here in the libraries, and you can find it on the forum.
It calculates indices for all currencies, and all calculated indices are expressed in the same units.
Thank you, I didn't know about it, I will definitely look for it.
 
GSB:
Do you mean _xMeter_mini_v.1.3?


yes
 

I wanted to put my currency index indicator in Code Base, but they don't allow it yet. This year's screenshot is just as a refresher :-)

 
xMeter_mini_v.1.3 does not start in the terminal...Why?
 
VBAG:
Your indicator was very helpful in understanding the essence of this "meter". And immediately I got an idea of how to make it more objective or something.
I.e. to try to make the EUR index (if I may say so) for the currencies in question.

Try to make EUR index (if it is possible to put it that way) of considered currencies. In this case, from USD, JPY, GBP, CHF, AUD, finalizing your code:

ExtMapBuffer1[i]=100*(s1("EURUSD",i)+s1("EURJPY",i)+s1("EURGBP",i)+s1("EURCHF",i)+s1("EURAUD",i))/5;
where s1=(c-l)/(h-l);

Since the basic calculation of "meter" is done as an average of (c-l)/(h-l) values for each currency pair as a percentage and therefore we only need to enter correction factors for the corresponding summands and we will obtain something similar to the index:

ExtMapBuffer1[i]=100*(s1("EURUSD",i)*K1+s1("EURJPY",i)*K2+s1("EURGBP",i)*K3+s1("EURCHF",i)*K4+s1("EURAUD",i)*K5)/5,
where s1=(c-l)/(h-l);

Just what is the guideline for assigning these coefficients?
It would be interesting to know the opinion of forum regulars on the degree of delirium of the idea.

P.S.Maybe someone will be useful article on the calculation of the dollar index.

I tried it once, didn't like it.
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