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03.freeman

Strenght and Momentum

03.freeman  
Oscillators Relative Strength Index (RSI) EURUSD DXY EXY strength multi-timeframe multi timeframe
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oscillator relativestrengthindex eurusd dxy exy strength multi-timeframe multi timeframe
The scope of this script is to measure momentum and strenght of EURO and DOLLAR using their indexes.
Forza (line) above 0 means EURO is stonger than DOLLAR
Momento (histogram) above 0 means EURO has a positive momentum against DOLLAR
The added value to see MACD and RSI directly on EURUSD chart is that indexes consider also other pairs so their RSI and MACD has a larger view on forex markets.
Script has also an option for multi timeframes.
I think that could be used as filters for LONG or SHORT positions in lower time frames.
Open-source script

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