Indicator for MultiCharts in Easylanguage. (Same as Tradestation)
The indicator should plot relative strength between one symbol and a basket of symbols.
It should show:
1. Trend of basket and compared symbol.
2. Relative strength of basket and symbol.
Data1 = ES
Data2 = NQ
Data3 = YM
Data4 = DAX
Data5 = FESX
1. Calculate an index of Data2 - Data5
2. Calculate relative strength between index in point 1 and Data1.
3. Plot longer term.
4. Plot relative strength.
You need to understand the proper calculations to what determines strong and weak in relative strength.
There are a lot of similar indicators for forex and I believe that you need some experience in currency strength indicators.
I'll provide more info to the winning bidder.