OPEN-SOURCE SCRIPT

Relative Major Currency Volume (RMCV)

The point of this indicator is to determine which currencies as a whole, rather than pairs, are experiencing high volume.

It does this by drawing volume information from all 28 major pairs. It then takes two simple moving averages, one short-term and one long-term, and compares and normalizes the difference between these two (this difference is called relative volume). These relative volumes for each pair are then averaged together to find the relative volume for the entire currency. If relative volume is greater than 0, then the currency is experiencing higher volume than average as a whole. If relative volume is less than 0, the currency as a whole is experiencing low volume.

This can be used as a starting point to find specific pairs that are experiencing high volumes, or to determine which currencies are likely to undergo major changes in the near future.
currencydrivecurrencytradingMoving AveragesVolatilityVolume

Script open-source

In pieno spirito TradingView, l'autore di questo script lo ha pubblicato open-source, in modo che i trader possano comprenderlo e verificarlo. Un saluto all'autore! È possibile utilizzarlo gratuitamente, ma il riutilizzo di questo codice in una pubblicazione è regolato dal nostro Regolamento. Per aggiungerlo al grafico, mettilo tra i preferiti.

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