Z-SCORE Currency Strength Indicator by Lukas

2020年7月19日

"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I also have unpublished OBV and smooth RSI indicator,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.

2020年7月20日

版本注释

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! :)

2020年7月20日

版本注释

Update, put configuration for EMA RSI as Filter in Setting