CCYX Any Ideas?

[v101 10]

Any ideas on this indicator, screen shot attached? I was wondering if this would be possible to program something similar vs paying the hundreds of dollars a month. I need to safe money.. But this indicator is very helpful....:)

[v101 10]

The CCYX:

Currency Strength Index “CCYX” disassembles every pair and isolates the individual currencies.

 

Im trying to figure out what it measures the different pairs against...?

[Kiwi 16]

It will measure them against some sort of average/basket. Its like creating an index and the basket will probably consist of a weighted (by world trade?) combination of the other currencies.

 

So you might say the the ubercurrency was 50% usd, 30% euro, 20% yen, 5% aud, and 5% cad. Then the question is:

 

How much has USD moved against (0.5 USD, 0.4 EUR, 0.2 JPY, 0.05 AUD, 0.05 CAD) since the left hand edge of the chart.

[qwz 10]

Hi.I read about this indicators on wiki .. relative currency strength (RCS) an absolute currency strength (ACS) .. hope this help..

[v101 10]

Thanks for the suggestions, here are some screen shots of the "spaghetti" indicator talked about over at ForexFactory.com

Spaghetti Indicator !!! (28 Pair Relative Strength ) @ Forex Factory

[v101 10]

Found from another website:

---Quote---

Current USDX volume is calculating as weighed average geometrical volume of six word’s currencies rate changing (Japan yen, Euro, British pound, Canadian dollar, Swiss frank and Swedish crone) to the US dollar.

 

USDXt=50,14348112 x (EURt)–0,567 x (JPYt)0,136 x (GBPt)–0,019 x (CADt)0,091 x (SEKt)0,042 x (CHFt)0,036

 

The base of the index is the basket of six currencies which form the main volume of US foreign trade turnover. Most part of the international trade volume goes with Eurozone (57,6 %), then Japan - 13,6 %, Great Britain - 11,9 %, Canada - 9,1 %, Sweden - 4,2 % and Switzerland - 3,6 %

---End Quote---

The ratios are not good anymore, it was an old post. (was what someone else quoted)

[v101 10]

Thanks everyone for your input and suggestions.. Here is a stab at getting this working, and displaying in the same or similar format...

 

I've posted below some examples of the indicator vs the one developed in NT 7.0

 

As you can see it looks similar, but NOT exactly similar... Not sure if anyone had any input or suggestion on the math formula..

 

The formula used is summarized:

 

EURUSD is up .001 on the day(USD is base, so we give negative multiplier)

USDJPY is up .001 on the day (USD is quote, so we give positive multiplier)

USDCAD is down .002 on the day (USD is quote, so we give positive multiplier)

 

I then divide the net change for the day by the ticksize for the pair.

 

EURUSD = 10

USDJPY = 10

USDCAD = -20

 

So our formula would be:

 

EURUSD*-1 + USDJPY*1 + USDCAD*1

USD = (10*-1) + (10*1) + (-20*1) = -20

 

 

If the colors are hard to read, here is the output in comparison from mine to theirs (My Results are on the LEFT)

My 15 MIN WHITE IS: THEIR ORDER:

GBP GBP --> Correct

EUR EUR --> Correct

NZD CAD

USD AUD

CAD USD

AUD NZD

CHF CHF --> Correct

JPY JPY --> Correct

 

MY 1 MIN ORDER: THEIR ORDER:

GBP GBP --> Correct

EUR EUR --> Correct

NZD CAD

CAD AUD

USD USD

AUD NZD

CHF CHF --> Correct

JPY JPY --> Correct

 

MY 5 MIN ORDER: THEIR ORDER:

GBP GBP --> Correct

EUR EUR --> Correct

NZD CAD

CAD AUD

USD USD

AUD NZD

CHF CHF --> Correct

JPY JPY --> Correct

 

Any suggestions for getting it JUST right, would be very helpful.....

 

(the time difference is due to one displaying time in GMT, vs the other in EST...)