PROTECTED SOURCE SCRIPT
Z-SCORE Currency Strength Indicator by Lukas
Updated
"you must have" indicator if you trade Forex major pairs.
So far this is the most reliable script i have for trade forex pairs.
This indicator will give us information of momentum, strength and cycle.
What i like about Z-SCORE, it's calculate price and volume.
Setting :
1. Set Color 0 and Color 2 into thick line, it will give you strength information.
The strength information is base on cumulative Currency price Vs. 7 others currency,
When Source Price above EMA and Above LWMA "Color 0" active, above EMA "Color 2" active, below EMA "Color 1" active
so it's important to set the thickness.
2. You can set EMA length as thickness filter
3. You can set Signal line between EMA and LWMA
EMA = smoother
LWMA = reactive
Strong currency signal when Color 0 active and they are on upward movement, crossing -80 or above 0
Weak Color 1 active and they are on downward movement, crossing 80 or below 0
Trade Strong Vs. Weak
Any feedback are welcome.
Hope it useful!
I also have unpublished OBV and smooth RSI indicator,
OBV can give you earlier bull/bear sign, let me know if you are interested~
Thank you.
So far this is the most reliable script i have for trade forex pairs.
This indicator will give us information of momentum, strength and cycle.
What i like about Z-SCORE, it's calculate price and volume.
Setting :
1. Set Color 0 and Color 2 into thick line, it will give you strength information.
The strength information is base on cumulative Currency price Vs. 7 others currency,
When Source Price above EMA and Above LWMA "Color 0" active, above EMA "Color 2" active, below EMA "Color 1" active
so it's important to set the thickness.
2. You can set EMA length as thickness filter
3. You can set Signal line between EMA and LWMA
EMA = smoother
LWMA = reactive
Strong currency signal when Color 0 active and they are on upward movement, crossing -80 or above 0
Weak Color 1 active and they are on downward movement, crossing 80 or below 0
Trade Strong Vs. Weak
Any feedback are welcome.
Hope it useful!
I also have unpublished OBV and smooth RSI indicator,
OBV can give you earlier bull/bear sign, let me know if you are interested~
Thank you.
Release Notes
Updated, put EMARSI as Trend filter, so BUY only when Color 0 Active, you need to setup Color 0 of each currency in Setting, make it thick! :)Release Notes
Update, put configuration for EMA RSI as Filter in Setting
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