FX 8 Progression
- Utilità
- Versione: 1.0
is a multi-timeframe visual matrix that tracks the relative linear progression (log-return strength) of the eight major currencies — EUR, GBP, AUD, NZD, USD, CAD, CHF, and JPY — across selected timeframes in a single responsive panel.
Motive
Traders often struggle to quickly see which currencies are gaining or losing strength relative to one another across multiple timeframes. This indicator condenses that information into color-coded progression lines so you can immediately identify strong versus weak currencies and align your pair selection and direction with the dominant force.
Functionality
For every enabled timeframe the indicator:
- Scans available broker symbols for every unique pair combination among the eight currencies (direct or inverse).
- Calculates the logarithmic return of each pair over the defined lookback period (LinearLookback).
- Assigns the movement positively to the base currency and negatively to the quote currency.
- Averages the results and centers them so the eight currencies sum to approximately zero.
- Plots the last LinePoints values of each currency as a continuous colored line inside its timeframe cell.
A vertical zero line marks the neutral point. Currencies above zero are relatively strong; currencies below zero are relatively weak. The classic rule of thumb is: buy the strong currency against the weak currency.
The panel is fully responsive. Cell height, font size, and spacing automatically adapt to chart size. You can toggle individual timeframes, the currency legend, timeframe labels, cell borders, and the zero line. Native chart elements are suppressed so the matrix occupies the full chart area cleanly.
Benefits for the Trader
- Instant multi-timeframe currency strength overview without switching charts or using multiple indicators.
- Clear visual separation of strong and weak currencies helps filter high-probability pair combinations.
- Historical progression lines show whether strength is accelerating, decelerating, or reversing.
- Customizable colors, line width, and visual elements make the display easy to read under different lighting and monitor setups.
- Lightweight object-based drawing that updates only when data or chart dimensions change.
Limitations
- Accuracy depends on the broker offering a sufficient number of the cross pairs. Missing symbols reduce the number of inputs used for that currency.
- The calculation is a relative linear progression over a fixed lookback, not a volume-weighted or session-based strength index.
- On very low timeframes (M1/M5) with a large number of line points and many enabled timeframes, object count rises and redraws can become heavier.
- The indicator is designed for the eight listed currencies only; exotic or emerging-market currencies are not included.
- Results are sensitive to the chosen lookback length and whether closed or forming bars are used.
Recommended Use
Enable the timeframes you actively trade, set LinearLookback to match your style (shorter for scalping, longer for swing), and watch for alignment: a currency that is positive and rising on several higher timeframes while its counterpart is negative and falling offers a higher-probability directional bias.
The indicator is intended as a decision-support tool. Always confirm signals with price action, structure, and your own risk rules.
