WS Currency Strength
The indicator shows the relative strength of eight major currencies by comparing each currency with all the other ones, and presents the result in an easy to interpret graphical way.
The currencies are: EUR, USD, GBP, JPY, CHF, AUD, CAD and NZD.
Have you ever wondered which currency is moving a pair?
For instance, if you see EURUSD go up, then is it because the EUR is getting stronger or because the USD is getting weaker?
Well, this nifty little indicator will tell you in a blink of an eye!
- "Number of Bars": how many bars to calculate and show. Default is 300.
- "Pairs Prefix": if your pairs have any prefix, enter it here. Example x.EURUSD --> enter "x."
- "Pairs Suffix": if your pairs have any suffix, enter it here. Example EURUSD.m --> enter ".m"
How to Use and Requirements
The indicator can be applied to any instrument.
The only requirement is that all possible combinations which can be made with these eight currencies are visible in the Market Watch window.
So simply open your Market Watch window, right-click it and click "Show All".
If necessary, it will first automatically download all the required pairs' history.
You can follow its progress on that in the Experts tab of your terminal.
If there is no history for some of the required pairs to calculate (or pair is not available), then the affected currencies will be disabled! (see the screenshots)
- EURUSD, EURJPY, EURGBP, EURCHF, EURAUD, EURCAD, EURNZD
- USDJPY, GBPUSD, AUDUSD, NZDUSD, USDCHF, USDCAD
- GBPAUD, GBPCHF, GBPCAD, GBPJPY, GBPNZD
- AUDJPY, CHFJPY, CADJPY, NZDJPY
- AUDCHF, CADCHF, NZDCHF
- AUDNZD, AUDCAD
And finally the pair on which you will apply the indicator.
For further details, please see the Screenshots tab.
I am always available for support.
Many green pips!
To prevent this, selecting another TF than H1 will remove the indicator and the tester will be stopped.
Also while testing, the TF selector of the indicator is disabled.