Sintetic Index Creation (USD, CAD, EUR)
To be able to have access to my script please get in contact with me, is for free and IF you ask you will have access and also I will send a document with more information about the mathematic methodology (Is only in Spanish)
In the chart the first one is an USD index, the second a CAD index and the last is the EUR index
This script uses information of the following pairs to create an Index:
("FX:EURCAD"), ("FX:GBPCAD"), ("FX:NZDCAD"), ("FX:AUDCAD"), ("FX:USDCAD") // CAD
("FX:USDCAD"), ("FX:USDJPY"), ("FX:USDCHF"), ("FX:USDMXN"), ("FX:USDSEK") // USD
("FX:EURNZD"), ("FX:EURGBP"),("FX:EURJPY"), ("FX:EURCHF"), ("FX:EURUSD") // EUR
The mathematic methodology is private, but it uses percentile changes to be calculated
This indexes offer a way to:
+ Analyze macroeconomic variables in the exchange rate of a determinate economy
+ Measure changes in an economy without being compared with another as the Forex pairs do
+ The script have an input option were 1 creates an USD index, 2 creates a CAD index and 3 creates an EUR index
+ White color means it goes up while red means it goes down
+ The script works perfectly with all the time frames
Because of all the data used to be calculated this script normally compile after 20-30 seconds, the index is created as candles but is important to say that it only represent the open and close values because plot the high and low values is very hard and the script could use 3 or 4 times more to compile as it could have errors in calculation too
I thought a lot about it and I did a lot of tests, Technical Indicators don’t work on this index, this index were created and published for users who have more interest in the Fundamental analysis
In the chart the first one is an USD index, the second a CAD index and the last is the EUR index
This script uses information of the following pairs to create an Index:
("FX:EURCAD"), ("FX:GBPCAD"), ("FX:NZDCAD"), ("FX:AUDCAD"), ("FX:USDCAD") // CAD
("FX:USDCAD"), ("FX:USDJPY"), ("FX:USDCHF"), ("FX:USDMXN"), ("FX:USDSEK") // USD
("FX:EURNZD"), ("FX:EURGBP"),("FX:EURJPY"), ("FX:EURCHF"), ("FX:EURUSD") // EUR
The mathematic methodology is private, but it uses percentile changes to be calculated
This indexes offer a way to:
+ Analyze macroeconomic variables in the exchange rate of a determinate economy
+ Measure changes in an economy without being compared with another as the Forex pairs do
+ The script have an input option were 1 creates an USD index, 2 creates a CAD index and 3 creates an EUR index
+ White color means it goes up while red means it goes down
+ The script works perfectly with all the time frames
Because of all the data used to be calculated this script normally compile after 20-30 seconds, the index is created as candles but is important to say that it only represent the open and close values because plot the high and low values is very hard and the script could use 3 or 4 times more to compile as it could have errors in calculation too
I thought a lot about it and I did a lot of tests, Technical Indicators don’t work on this index, this index were created and published for users who have more interest in the Fundamental analysis