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Dual Custom Index with SpreadDual Custom Index with Spread Create powerful custom indices from any instruments and analyze their relative strength dynamics Overview This advanced indicator allows you to build two completely customizable indices from your choice of instruments and analyze their spread relationship. Perfect for inter-market analysis, sector rotation strategies, currency strength comparisons, and sophisticated relative performance studies. Key Features 🔧 Fully Customizable Index Construction Build each index from up to 6 instruments with individual weightings Enable/disable instruments on the fly without losing settings Automatic weight validation ensures mathematically accurate calculations Invert functionality for instruments that move opposite to index strength 📊 Advanced ADX-Based Methodology Uses sophisticated ADX +DI/-DI directional bias calculations Normalized bias calculation for consistent scaling across different instruments Optimized default settings for intraday trading with full customization options Professional-grade smoothing and filtering options 📈 Dual Analysis Modes Difference Mode: Shows absolute strength difference (Index1 - Index2) Ratio Mode: Shows relative performance ratio (Index1 / Index2) Additional spread smoothing for cleaner signals 🎨 Professional Display Options Custom labels with full color, size, and positioning control Dynamic "Follow Line" labels that move with your data Static corner positioning for reference displays Clean error messaging and validation feedback Use Cases Gold Trading: Create gold strength vs USD strength indices for precise market timing Sector Analysis: Compare technology vs financial sector strength for rotation strategies Currency Strength: Build custom currency baskets for advanced forex analysis Commodity Spreads: Analyze relative strength between different commodity groups Regional Markets: Compare strength between different geographical market indices Crypto Analysis: Track relative performance between different cryptocurrency sectors Technical Specifications Instruments per Index: Up to 6 with individual enable/disable Weight Validation: Automatic 100% total weight enforcement Calculation Method: ADX-based directional bias with trend strength weighting Smoothing Options: Multiple levels of customizable smoothing Error Handling: Professional validation with clear user feedback Optimization Tips Intraday Trading: Use DI Length 3-7 for faster response Daily Analysis: Use DI Length 10-14 for smoother signals Noisy Markets: Increase Final Smoothing for cleaner signals Trending Markets: Lower smoothing values for faster reaction Perfect for traders who need sophisticated inter-market analysis tools beyond standard indicators. Whether you're analyzing gold vs dollar dynamics, sector rotation opportunities, or custom currency strength relationships, this indicator provides institutional-grade analysis capabilities with complete customization flexibility.
Indicator
by d_day_80
FX Majors (+CN) Currency Basket ComparisonDescription: This indicator shows how individual FX major currencies (including CNY) have performed relative to each other. It calculates each currency's performance against a "Trade Weighted" basket of other major currencies. I created this because I couldn't find it, and I wanted an easy way to see currency behaviour and flows. Purpose: It lets you see the relative strength and weakness of each currency, similar to how the DXY measures USD strength, but for all the major currencies. Each basket and currency weights are based on Trade Weighted values from literature/economics. This way you can maybe decide which crosses / pairs to trade. Can helps you visualise how events (economic, news or otherwise) affect currency flows. Features: Relative Performance: Focuses on how a currency's value has changed over time, rather than its absolute level. Normalization: Adjusts currency values to a starting date, making it easy to compare their performance. Adjustable Start Date: You can set the anchor date to choose the starting point for calculating relative performance. Customizable Weights: The indicator allows you to use custom weights for each currency basket should you wish.
Indicator
by Things
Crypto Index (DXY) CandlesA modification of @loxx's "Dollar Index (DXY) Candles" allowing for a user selected basket of tickers using the same weights as the standard DXY. Ticker Inputs are in descending order so highest weight is at the top by default, although weighting can be changed manually by modifying the symbol's corresponding weight input in the settings. The Idea was to get a bird's eye view of the crypto space using some of the more relevant names in the space. User's can use the toggle in the settings for viewing the default DXY for comparison. Indicator should be used as a confirmation when looking at long term trend changes in the space, shorter time frames may, or may not be as useful.
Indicator
by EsIstTurnt
FTX Index Advance Decline LineAs of publishing, all the tickers from FTX with the word "index" in it, plus bitcoin. This is your regular ADL except instead of hundreds in the basket you've got them condensed into 7 (for now) and in open/close candle form instead of a line. I'm a bit disappointed because I thought I'd lever more utility from indexes. It may just need some tweaking. Doesn't it look like Renko? Some notes: Reason why it expands: Total number of constituents is a static 7, to fix that use time to change the total variable based on dates of introduction. Reallly looks like Renko: Renko with ATR, length 14, hourly chart.
Indicator
by NeoButane
1
Crypto Market Change in BTC [Fingers]Crypto Market Change provides an indication of whether the value of a basket of 19 coins traded in BTC on Binance (as of July 12, 2018) are headed up or down. A simple moving average of the percentage change in BTC price for each coin is calculated. The moving averages are then summed and displayed. A measure of price volatility is indicated by standard deviation bands. Period, moving average length, and number of standard deviations are adjustable.
Indicator
by fingersmcknee
Crypto Market Change in BTC [Fingers]Crypto Market Change provides an indication of whether the value of a basket of 19 coins traded in BTC on Binance (as of July 12, 2018) are headed up or down. A simple moving average of the percentage change in BTC price for each coin is calculated. The moving averages are then summed and displayed. A measure of price volatility of indicated by standard deviation bands. Period, moving average length, and number of standard deviations are adjustable.
Indicator
by fingersmcknee
Crypto Market Change in USDT [Fingers]Crypto Market Change provides an indication of whether the value of a basket of 16 coins traded in USDT on Binance (as of July 12, 2018) are headed up or down. A simple moving average of the percentage change in USDT price for each coin is calculated. The moving averages are then summed and displayed. A measure of price volatility of indicated by standard deviation bands. Period, moving average length, and number of standard deviations are adjustable.
Indicator
by fingersmcknee
Pair Strength BasketAgain thanks to LazyBear for bringing over the wavetrend indicator and glaz for the idea of the basket of currencies. This is a power index based on the wavetrend indicator, I cut it down to 5 securities per currency since the limit of securities I could call was 40. I like to use to see which pair is the most OB/OS as it likely presents the best profit potential. AUD = Yellow CAD = Gray CHF = Maroon EUR = Blue GBP = Red JPY = Purple NZD = Lime USD = Green
Indicator
by wpatte15
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