How does it work?
Let me tell you more about the bases of the indicator.
The indicator measures relative strength of major currencies on the basis of the analysis of 21 currency pairs (the standard basket). If any of them is excluded from the list, the user will get a notification about this when loading the indicator on the chart. Except this, it shows the relative progress (volatility) of each currency pair, from the beginning of the
The indicator displays a list containing 21 currency pairs. The numbers represent %, where 100% is the volatility of the whole trading day (the distance from the price minimum to the price maximum of the current day). A negative value indicates that the pair is traded below its opening price of the current day, a positive value indicates that the pair is traded above its opening price. The higher the numerical value is, the farther from the maximum or minimum of the current day the price is at the moment (i.e. volatility is higher).
The indicator also shows all the 8 currencies in the form of a histogram. The higher the column – the stronger the currency; the lower the column – the weaker the currency is. So, the indicator lets us embrace the whole market and quickly move on to trading on the most volatile currency pair, and shows the prevailing trends in the market as well.