Currency strength indicator

[zen4x]

Hello all. I wanted to ask you if somebody knows what formula I can use to develop a strength meter.
I would like to code an indicator that shows the 8 major components: usd, chf, eur, gbp, aud,nzd, jpy and cad. I saw few formulas but I wanted to ask you if anybody has experience with this concept.

The goal would be to develop an oscillator to trade when two inverted correlated pair cross a certain value.

Another point is about the backtesting that seems impossible under Empty4.

I would love to test the behavior in backtesting to check what are the results of a strategy.

Any help is very appreciated.

[SteveHopwood]

Instead of flogging through this yourself, is there anything at http://www.stevehopwoodforex.com/phpBB3 ... f=45&t=629 that will do the job for you? Or here at http://www.stevehopwoodforex.com/phpBB3 ... f=45&t=639.

These two guys are astonishing programmers. Maybe there is something in their threads that can save you a shed-load of programming time? I don't know, but no harm in having a look.

[zen4x]

Hello Steve, thank you for your reply.

Basically I was looking to do something similar to this post.

http://www.pimpmyea.com/currencies-strength-weakness/

I wanted to take some code from the Xmeter to calculate the strength of the pairs, but there is much more to do.