CurrencyStrengh

The CurrencyStrength shows the strongest and the weakest currency all time frame in the chart.

Usage

The CurrencyStrength has labels that indicate the time frame, the strongest currency, and the weakest currency. The strength is computed with latest OHLC in each time frame. You can check which currency is the strongest at a glance.

Input Parameters

• LabelColor — Color of time frame label.
• StrongColor — Color of the strong currency label.
• WeakColor — Color of the weak currency label.
• LabelLocation — TOP or RIGHT on chart. (Default: RIGHT)
• LabelMarginX — Label margin from left (LabelLocation set TOP) or right (LabelLocation set RIGHT).
• LabelMarginY — Label margin from top.
• Comparator — The algorithm using the comparison. HIGHLOW, SMA, and EMA is available. (Default: HIGHLOW)
• ComparatorParameter — The parameter of Comparator used in SMA and EMA.
• UseUSD — Use or not USD. (Default: true)
• UseEUR — Use or not EUR. (Default: true)
• UseJPY — Use or not JPY. (Default: true)
• UseGBP — Use or not GBP. (Default: true)
• UseAUD — Use or not AUD. (Default: true)
• UseNZD — Use or not NZD. (Default: true)
• UseCAD — Use or not CAD. (Default: true)
• UseCHF — Use or not CHF. (Default: true)

How to determine the currency strength

Table 1: Currency pairs

	USD	EUR	JPY	GBP	AUD	NZD	CAD	CHF
USD	-	EUR/USD	USD/JPY	GBP/USD	AUD/USD	NZD/USD	CAD/USD	USD/CHF
EUR	EUR/USD	-	EUR/JPY	EUR/GBP	EUR/AUD	EUR/NZD	EUR/CAD	EUR/CHF
JPY	USD/JPY	EUR/JPY	-	GBP/JPY	AUD/JPY	NZD/JPY	CAD/JPY	CHF/JPY
GBP	GBP/USD	EUR/GBP	GBP/JPY	-	GBP/AUD	GBP/NZD	GBP/CAD	GBP/CHF
AUD	AUD/USD	EUR/AUD	AUD/JPY	GBP/AUD	-	AUD/NZD	AUD/CAD	AUD/CHF
NZD	NZD/USD	EUR/NZD	NZD/JPY	GBP/NZD	AUD/NZD	-	NZD/CAD	NZD/CHF
CAD	USD/CAD	EUR/CAD	CAD/JPY	GBP/CAD	AUD/CAD	NZD/CAD	-	CAD/CHF
CHF	USD/CHF	EUR/CHF	CHF/JPY	GBP/CHF	AUD/CHF	NZD/CHF	CAD/CHF	-

The CurrencyStrength uses 8 currencies and 28 currency pairs at most. Used currency pairs are shown in Table 1. Note that available currency pairs depend on the broker.

Table 2: Comparator sign

	USD	EUR	JPY	GBP	AUD	NZD	CAD	CHF
USD		-	+	-	-	-	-	+
EUR	+		+	+	+	+	+	+
JPY	-	-		-	-	-	-	-
GBP	+	-	+		+	+	+	+
AUD	+	-	+	-		+	+	+
NZD	+	-	+	-	-		+	+
CAD	+	-	+	-	-	-		+
CHF	-	-	+	-	-	-	-

The comparator sign is shown in Table 2. Each sign corresponds to the currency pair of same position in Table 1. The comparator compares the latest value with one before. If all comparator result related to target currency are equal to the comparator sign in table 2, the currency is ''strong''.

ex. Target currency is USD.

Comparator results are ...

EUR/USD: -

USD/JPY: +

GBP/USD: -

AUD/USD: -

NZD/USD: -

CAD/USD: -

USD/CHF: +

All comparator result equals to the table, so that USD is ''strong''.

Target currency is JPY.

Comparator results are ...

USD/JPY: +

EUR/JPY: -

GBP/JPY: -

AUD/JPY: -

NZD/JPY: -

CAD/JPY: -

CHF/JPY: -

The sign of USD/JPY does not equal to the table, so that JPY is not ''strong''.

''Weak'' is computed with the negated table 2.