Forex Tool-Currency Power

 

Forex Tool-Currency Power

 

This indicator shows a value of 0 to 10 for each of 10 base currencies showing how strong the specific base currency is.
A value closer to 10 implies a strong base currency whose value is increasing.
A value closer to 0 implies a weak base currency whose value is decreasing.
This value is calculated by comparing a currency against several of its counter currencies to provide a general overview of how strong this base currency is in the markets and not just against a single currency.

Usage : As a general market overview.
Just look at the values each base currency carries. In that way you can determine which currencies have been rising and which have been falling. The higher their value the stronger the currency has been at that moment , the lower their value the weaker the currency has been at that moment. Also try to change timeframes to see how the values change. So in the above CAD and AUD are rising, while EUR,CHF,NZD, SEK are falling

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