Description: This study is a version of Currency Strength Meter, that utilises TradingViews built-in 8 Currency indices (?XY), rather calculate them from currency pair values. It also utilises the built-in TSI function, the TSI uses moving averages of the underlying momentum of a financial instrument. The advantage of using the Currency Indices for strength is the fact that they are based on multiple Exchange sources and so hopefully making it more representative.
***WARNING***The TradingView Currency Indices do tend to have gaps between candles especially on the low volume currencies like NZD and AUD, so strength chart can also jump around. I suggest using the indicator with higher TF (4H+) charts.
Thank you for sharing your indicator. What are the best setting to use? The indicator has many setting to chose. What would be the high probability settings for EUR/USD pair with this indicator? Thanks in advance.
dhruv2212
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Thanks a lot for this very useful tool.
I usually want to see only the two currencies of the chart and have to manually turn off the others, Is there any faster way to show only open instruments in the chart?
Thanks for your help!
Kuch
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Thank you for your effort and work.
and.bert
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Have you suggestions for trading strategy using this indicator?
Vibranium_Capital
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What happened to him? No posts in years, hope he didn’t pass away
Jrr7885
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Great indictor was wondering if there is a way to be able to test the daily candles with bar replay all other time frames seem to work except the Daily Thank You!!