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Currency Strength Meter - Relative Strength
📊 Currency Strength Meter (CSM) — Relative Currency Strength
Description
The Currency Strength Meter measures the relative strength of 8 major currencies (USD, EUR, GBP, CHF, CAD, AUD, JPY, NZD) in real time, calculated from 26 Forex pairs.
Instead of looking at pairs in isolation, the CSM aggregates each currency's behavior across every pair it appears in, generating a score from 0 to 9 that reflects how strong or weak that currency currently is on the selected timeframe.
How it works
For each of the 26 pairs, the indicator calculates where the closing price sits within the high/low range of the last N candles — a calculation similar to a stochastic oscillator.
That value is converted into a score from 0 to 9 (0 = extremely weak, 9 = extremely strong).
The base currency of the pair receives the calculated score, while the quote currency receives the complementary value (9 − score).
Each currency's final strength is the average of all scores it received across the pairs it's part of.
An optional smoothing filter (with triangular weighting) reduces noise by giving more weight to recent candles.
Key features
📈 8 strength lines plotted on the panel, one per currency
📋 Real-time ranking table, sorting currencies from strongest to weakest
🔲 Mini visual histogram (block bars) showing each currency's intensity
🟢🔴 Configurable reference zones (strong limit and weak limit)
▲▼ Buy/Sell signals when the chart's base currency is strong and the quote currency is weak (or vice versa)
🔶 "Market imbalance" alert, triggered when one currency crosses into the strong zone and another crosses into the weak zone — a hint of a strong trend forming
🔔 Ready-to-use alertconditions for setting up TradingView alerts
Settings
Timeframe used for calculation (independent of the chart's timeframe)
Number of candles analyzed
Smoothing and triangular weighting (on/off)
Upper and lower thresholds for signals
Panel position and display options
How to use
This indicator works best as a confirmation and market-context tool, not as a standalone entry system. Combine the strength/weakness signals with your own technical analysis (price action, support/resistance, other indicators) before making entry decisions.
⚠️ This indicator is an analysis tool and does not constitute investment advice. Always manage your own risk.
Description
The Currency Strength Meter measures the relative strength of 8 major currencies (USD, EUR, GBP, CHF, CAD, AUD, JPY, NZD) in real time, calculated from 26 Forex pairs.
Instead of looking at pairs in isolation, the CSM aggregates each currency's behavior across every pair it appears in, generating a score from 0 to 9 that reflects how strong or weak that currency currently is on the selected timeframe.
How it works
For each of the 26 pairs, the indicator calculates where the closing price sits within the high/low range of the last N candles — a calculation similar to a stochastic oscillator.
That value is converted into a score from 0 to 9 (0 = extremely weak, 9 = extremely strong).
The base currency of the pair receives the calculated score, while the quote currency receives the complementary value (9 − score).
Each currency's final strength is the average of all scores it received across the pairs it's part of.
An optional smoothing filter (with triangular weighting) reduces noise by giving more weight to recent candles.
Key features
📈 8 strength lines plotted on the panel, one per currency
📋 Real-time ranking table, sorting currencies from strongest to weakest
🔲 Mini visual histogram (block bars) showing each currency's intensity
🟢🔴 Configurable reference zones (strong limit and weak limit)
▲▼ Buy/Sell signals when the chart's base currency is strong and the quote currency is weak (or vice versa)
🔶 "Market imbalance" alert, triggered when one currency crosses into the strong zone and another crosses into the weak zone — a hint of a strong trend forming
🔔 Ready-to-use alertconditions for setting up TradingView alerts
Settings
Timeframe used for calculation (independent of the chart's timeframe)
Number of candles analyzed
Smoothing and triangular weighting (on/off)
Upper and lower thresholds for signals
Panel position and display options
How to use
This indicator works best as a confirmation and market-context tool, not as a standalone entry system. Combine the strength/weakness signals with your own technical analysis (price action, support/resistance, other indicators) before making entry decisions.
⚠️ This indicator is an analysis tool and does not constitute investment advice. Always manage your own risk.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.