Tideline Currency Strength

Currency strength with an open formula: see which of the 8 major currencies leads and which lags.

Tideline Currency Strength calculates the strength of USD, EUR, GBP, JPY, CHF, CAD, AUD and NZD from the 28 major and cross pairs and draws one line per currency in a sub-window. A panel ranks the eight currencies, shows a bar for each strength value and compares the rank on four timeframes (default M15, H1, H4, D1). It also names the pair that combines the strongest and the weakest currency, as a display only.

It is an analysis tool. It does not open trades and it does not give buy or sell signals.

What you see

  • One line per currency in the sub-window, each with its own colour. A label at the right edge shows rank, currency and value; labels move apart so they do not cover each other.
  • Ranking panel: rank 1 (strongest) to 8 (weakest), the value and a bar for every currency. It can be collapsed and drawn at 90 to 150 % size. Light or dark colours follow your chart.
  • Timeframe matrix: the rank of every currency on four timeframes of your choice, shown as coloured cells (green strong, red weak). Each timeframe is calculated with the same formula and lookback.
  • Pair view: the strongest and the weakest currency and the pair that contains both. This is information about relative movement, not a recommendation.
  • Alerts (popup, sound, push, e-mail): rank change (strongest or weakest currency changes, or any rank change), two chosen currencies cross each other, a currency passes a threshold of your choice. Closed candles only by default, with a pause between alerts of one type.
  • Broker symbols are found automatically, including prefixes and suffixes such as EURUSD.r, EURUSDm or #EURUSD. If a pair is missing at your broker, it is skipped and the panel names the missing pairs. The remaining pairs are still used.

How it is calculated

For every pair BASE/QUOTE the change over the lookback of L candles (default 24) is measured. Two methods can be chosen:

Percent change: p = (Close now / Close L candles ago - 1) x 100.

Volatility-normalised change: p = (Close now - Close L candles ago) / (m x square root of L), where m is the average absolute close-to-close change of the last 50 candles of that pair. This makes quiet and fast pairs comparable.

The base currency receives +p and the quote currency receives -p. The strength of a currency is the average of these values over all of its pairs (seven pairs when all 28 are available). A currency is therefore strong when it rises against most others. The values are relative: they show how the currencies moved against each other, not how far a currency is from some fair value.

No repaint

The value of a closed candle depends only on prices up to that candle (its close, the close L candles before and, for the normalised method, the 50 candles before). It is never recalculated afterwards, unless the broker changes its price history. On the running candle the line stays flat at the last closed value by default; switch "Include the running candle (live)" on to see it move with the bid prices, once per second. Other symbols are lined up on the time axis of the first available pair, using the last known close.

Quick start

Attach it to any chart of any symbol; the chart only supplies the timeframe. The defaults (lookback 24, percent change, matrix M15 / H1 / H4 / D1) suit H1. The first start loads the history of up to 28 pairs, so the panel may show "loading history" for a few seconds. For fewer or other matrix timeframes change the four matrix inputs; set one to Current to leave a column out.

Editions

Tideline Core is the free edition: 8 currencies on one timeframe with lines and the ranking panel. This Pro edition adds the volatility-normalised method, the live candle option, the timeframe matrix, the pair view and the alerts.

Use in Expert Advisors and other indicators

The strength values are available as indicator buffers. Buffers 0 to 7 hold the strength of USD, EUR, GBP, JPY, CHF, CAD, AUD, NZD (in this order). Buffers 8 to 15 hold the rank of the same currencies (1 = strongest, 8 = weakest). Empty values mean "no data". Example: handle = iCustom(_Symbol, PERIOD_H1, "Market\\Tideline Currency Strength"); CopyBuffer(handle, 1, 1, 1, v) reads the last closed EUR strength. With the live option on, shift 0 is the running candle. The matrix and the alerts are not part of the buffers.

Strategy Tester

The indicator reads other symbols. In the tester the history of those symbols must be available; the tester downloads it on the first run, which can take time, and values may start later. Visual mode draws lines and panel; the matrix timeframes need the history of each timeframe. Push and e-mail alerts are not sent in the tester.

FAQ

Why does the panel say "Pairs 24 of 28"? Your broker does not offer all pairs or names them differently. Set prefix and suffix in the inputs if the automatic detection does not find them. The panel lists the first missing pairs.

Why do the lines start later than the chart? The number of candles to calculate is an input (default 1,500) and the lookback needs candles before the first value.

Why are the labels cut off? Turn on the chart shift (the indicator does this for you when labels are on) or widen the chart.

Resources: all pairs are read once per new candle of each timeframe, the running candle is updated once per second, no DLL, no web requests.

Important

An analysis tool, not a signal service. Currency strength describes past price movement and does not predict it. No result is promised. Trading leveraged products carries a high risk of loss.

Input parameters

General: language, candles to calculate (1500), colour theme, label font size (8). Calculation: method (percent or volatility-normalised), lookback in candles (24), include the running candle (off), broker prefix and suffix (empty = automatic). Timeframe matrix: on / off and four timeframes. Lines: line width (2), labels on / off. Panel: on / off, start position X / Y, size. Alerts: rank change (off, strongest or weakest, any), crossing with currency A and B (EUR / USD), threshold on / off and value (0.50), closed candles only, popup, sound and sound file, push, e-mail, pause in seconds (30). Colours: one colour per currency.

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