Oscar118

OJLJ Sintetic EUR Index

This script uses information of the principal EUR pairs to create an Index:

(). Look at the increase in the EUR INDEX, it is very good and stable while the EURCHF             pair is having problems
(X). While EURCHF             goes down slowly, we can see that the real EUR force is not growing but it is not going down, is just stable
(Y). The EURCHF             goes down rapidly, but we dont see the same effect on the EURCHF             chart, this means that the CHF force increase is not the enough strong to make the EUR INDEX to go down

The mathematic methodology is private, but it uses percentile changes to be calculated and I have made some tests to make sure that results work perfectly fine, If you want to know more about the calculation or the test I have made, please send me a message

This indexes offer a way to:
+ Measure changes in an economy without being compared with another as the Forex pairs do
+ Analyze macroeconomic variables in the exchange rate of a determinate economy
+ Use candles instead of lines
+ The script have an input option were you can decide if use wicks or not (Not recomendable)
+ White color means it goes up while red means it goes down
+ The script works perfectly with all the time frames
+ Itcan be used with all the Forex pairs that include USD

Because of all the data used to be calculated this script normally compile after 10-20 seconds

I thought a lot about it and I did a lot of tests, Technical Indicators don’t work the same way that Forex, this index were created and published principaly for users who have more interest in the Fundamental analysis but It can be useful for everyone

Do you like this Index or have any Ideas ? Please let me know with a comment :)
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