Fx Currency Strength

WARNING: This is version 1 of this indicator. It may contain bugs and may be updated in the future. Use at your own risk.

This indicator plots the momentum-based currency pair strength, base currency strength and the quote currency strength. It can also be used in Market Analyzer to compare multiple currency pair strengths side by side (by selecting the "Pair" plot). A market analyzer template is attached as FXCS_MarketAnalyzer.xml

This indicator will work with any currency pairs (there are 28) that have both the base and the quote in this list:

USD, EUR, AUD, GBP, CHF, CAD, JPY, NZD

NOTE: When this indicator initializes it loads 14 data streams, your chart has not frozen, simply give the program a minute to load all the requisite data and it will run without issue.

Indicator Parameters:

1. FXPeriodType - The period type of the data series' used to calculate the currency strength. For easy viewing it is usually best to match this to the overall chart period type (ex. Minute, Tick, Range, etc)
2. FXPeriodValue - The period value of the data series' used to calculate the currency strength. For easy viewing it is usually best to match this to the overall chart period value (Ex. 1, 60, 5, etc)
3. PercentChange - The number of bars used to determine each percent change. Default is 13.
4. SimpleAverage - The number of percent change calculations averaged together to determine each plot point.

Default Indicator Colors:

Blue - Base Currency Color
Grey - Currency Pair Color
Gold - Quote Currency Color

Indicator calculations:

Each individual currency strength is calculated by summing each other currency pair's average momentum where it is the base and subtracting the sum of the currency pair's average momentum where it is the quote. For example:

U.S. Dollar Score = (USDCAD_Momentum_Average + USDCHF_Momentum_Average + USDJPY_Momentum_Average) - (AUDUSD_Momentum_Average + GBPUSD_Momentum_Average + EURUSD_Momentum_Average + NZDUSD_Momentum_Average)

The pair currency strength is simply the base currency strength + the quote currency strength.

The momentum average for each pair is normalized using the formula: (momentum average * 1000) / 7

Created By NinjaTrader_MichaelM
NinjaTrader Version 7
File Size 5.8 KB
Create Date(s) 05/27/2015
# of Downloads 459

Importing to NinjaTrader 7 is Easy!

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  1. Download the app or add-on file to your desktop
  2. From the NinjaTrader Control Center window, select the menu File > Utilities > Import NinjaScript
  3. Select the downloaded file from your desktop

Questions?

Visit the NinjaScript File Sharing discussion in the NinjaTrader user forum to interact with fellow traders and the NinjaTrader support team.