TIL Currency Strength Index

Trading Indicator Lab’s Currency Strength Index for TradingView is a “multitool” of currency indices. It can calculate the strength index of major currencies namely:

- US Dollar (USD)
- Euro (EUR)
- British Pound (GBP)
- Swiss Franc (CHF)
- Japanese Yen (JPY)
- Canadian Dollar (CAD)
- Australian Dollar (AUD)
- New Zealand Dollar (NZD)

Instead of using traditional formulas for index such as the Dow Jones FXCM Dollar Index, the Currency Strength Index indicator uses a close formula that factors in all the 8 currencies to calculate a whole and accurate representation of each currency’s strength.

Inputs

- Currency – allows the user to select one of 8 currencies to calculate and display its strength index. Choices are USD, EUR, GBP, CHF, JPY, CAD, AUD, and NZD.
- Bullish Candle Color – sets the color of bullish candlesticks in the index
- Bearish Candle Color – sets the color of the bearish candlesticks in the index