Test for IQoption chat by Noah N — Indicator by UnknownUnicorn870832

The script uses the average price of Major currencies to show their relative strength. Choose which currencies you wish to see in the format options. The script works based off of RSI so the currency with a higher value is stronger than the currency with the lower value. If for example USD is at 65 and CAD is at 30 then USD is stronger than CAD and buying USDCAD is better idea than selling it.

Sourcecode is open to see.

Release Notes:

I changed the strength from showing individuals currencies to showing each pairs. It takes the values given by the previous version and calculates the distance. So if previously usd was at 70 and cad was at 50 it would show that usd is stronger. Now instead the indicator shows USD-CAD to give the strength of the pair. So the example of usd at 70 and cad at 50 now shows as 20 or if cad was higher at 60 and usd lower at 30 it would show -30.

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

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