Currency Strength Meter [HeWhoMustNotBeNamed]

⬜ Note: This is not the strength of currency pairs. But, in this script we are trying to derive strength of individual currencies by matching against single base currency.

⬜ Process
This is based on similar concept as that of Magic Numbers for stocks. Idea is simple.
▶ Calculate strength of each currency against USD. Derive the strength for both price movement and volume movement.
▶ Similarly calculate momentum of price and volume change.
▶ If USD is base currency, inverse momentum and strength index for the given symbol.
▶ Once these calculations are done, rank each currencies based on individual score on given things.
▶ Add up all the ranks to derive combined rank
▶ sort the currencies in the ascending order of overall rank.

⬜ USAGE
▶ Identify a base currency. In our case, we have used USD as base currency as it is easy to get pairs of all currencies with USD.
▶ Identify most used combos for all other currencies which are paired with USD. Fx pair can either have USD as base currency or quote currency. It is desirable to use the pair which is most traded. For example, USDJPY is more traded pair than JPYUSD - hence it is advisable to use USDJPY instead of JPYUSD . Similarly AUDUSD is more traded than USDAUD - hence choosing AUDUSD for the purpose of this exercise is better approach. Notice that USDJPY has USD as base currency whereas AUDUSD has USD as quote currency. These calculations are handled internally to derive the right outcome irrespective of position of USD in the pair.
▶ Identify the forex broker which has all the selected forex tickers. All comparison is done against a single broker. Hence, choosing broker which does not wide range of forex pairs will show NAN for many rows.
▶ Once we set these, we get tabular output containing strength and oscillator based trend indexes for both price and volume indicator. Currencies are ordered in descending order of strength. Hence, top of the list can be considered as currency having highest strength and bottom of the table can be considered as currency having lowest strength. Please note that the calculation is valid only for selected timeframe and users can set other parameters such as moving average type, oscillator type, length etc which can alter the outcome.
▶ Use multiple timeframes to find out stronger and weaker currencies. Use directional indicators to understand where they are heading. Combine all these info to come up with currency pair you would like to trade :)

⬜ Settings

▶ Main settings and Currencies
• Base Currency : This is set to USD by default as rest of the tickers used are paired with USD. Whatever the base currency is selected, rest of the tickers should follow the same combination.
• Timeframe : Timeframe for which rankings need to be calculated.
• Currencies : These should be the currency pair which involve base currency defined in the setting on either side.

▶ Display

• Table : Allows users to set table location and size of the table. By default this is set to middle center and default size is normal. If user want to use multiple timeframes side by side, they can do so by changing these display settings.
• Stat Type : To show either comparative ranking or actual indicator values
Notes de version: Updated chart and few small error handing.

• Now you can leave any space for ticker empty. This enables users to keep ticker list minimal
• Added custom runtime error if ticker is not valid (If does not contain the reference currency in it)

Reach me on telegram: https://t.me/HeWhoMustNotBeNaamed