ADX currency strength

The average directional index (ADX) indicator is used to determine when price is trending strongly. This indicator uses the ADX (inbuilt) indicator and returns two ADX strength scores (2 lines in window) - one for the base currency and other for counter currency.

It combines the group of correlated (base & counter) currency pairs dynamically from the chart, as per:

• AUD="AUDUSD","AUDCAD","AUDCHF","AUDJPY","AUDNZD" / "EURAUD","GBPAUD"
• USD="USDJPY","USDCHF","USDCAD","USDNOK","USDSEK" / "AUDUSD","NZDUSD","EURUSD","GBPUSD"
• NZD="NZDCAD","NZDCHF","NZDJPY","NZDUSD" /  "AUDNZD","EURNZD","GBPNZD"
• GBP="GBPUSD","GBPAUD","GBPNZD","GBPCAD","GBPCHF","GBPJPY","GBPSEK","GBPNOK" / "EURGBP"
• EUR="EURUSD","EURAUD","EURNZD","EURCAD","EURCHF","EURGBP","EURJPY","EURSEK","EURNOK"
• CHF="CHFJPY" / "EURCHF","USDCHF","AUDCHF","NZDCHF","GBPCHF","CADCHF"
• CAD="CADCHF","CADJPY" / "AUDCAD","NZDCAD","EURCAD","GBPCAD","USDCAD"
• JPY="USDJPY","AUDJPY","NZDJPY","CADJPY","CHFJPY","EURJPY","GBPJPY","SEKJPY","NOKJPY","SGDJPY"

When base score > counter score, means base currency is showing bullish indicator momentum and vice versa.

Parameters:

• ADX_PERIOD - number of periods to calculate for indicator.
• PriceType - PriceOpen,PriceHigh,PriceLow,PriceClose