OPEN-SOURCE SCRIPT
Simple Currency Strength Measurer IV
Version IV of the SCSM, this time thanks to SAACI I learned more about the financial markets and some math stuff. This time I switched the formula a bit to use Zscores:
(close-sma(close,shortma))/stdev(close,dev)
This creates a nice oscillator like view, if you overlay TWO of them, one longer and one shorter you can get almost perfect absolute highs and absolute lows. Enjoy.
(close-sma(close,shortma))/stdev(close,dev)
This creates a nice oscillator like view, if you overlay TWO of them, one longer and one shorter you can get almost perfect absolute highs and absolute lows. Enjoy.
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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