OPEN-SOURCE SCRIPT
Index Meter
This is a currency index strength meter.
Plots Dollar index by default.
Switch between other indexes of the same pair you are trading.
Exotic pairs included.
This indicator helps you understand the broad dynamic strength of the currency as calculated from numerous other pairs as opposed to just the pair you are trading, giving you the advantage of anticipating a real turn in the market when other strength indicators are giving false turn signals.
You need a good understanding of trading with the help of indexes.
For those needing exotic pair indexes, this indicator will help you.
Plots Dollar index by default.
Switch between other indexes of the same pair you are trading.
Exotic pairs included.
This indicator helps you understand the broad dynamic strength of the currency as calculated from numerous other pairs as opposed to just the pair you are trading, giving you the advantage of anticipating a real turn in the market when other strength indicators are giving false turn signals.
You need a good understanding of trading with the help of indexes.
For those needing exotic pair indexes, this indicator will help you.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.