Wednesday, August 21, 2019

Sentiment / Outlook Data from MyFxBook

I developed a sentiment indicator for MarketScope based on the "Outlook" data from MyFxBook. The indicator extracts the data from the MyFxBook website and maps it to the subscribed currency symbols. The MyFxBook sentiment data is based on real user account information and shows the number (and size) of positions long and short on many instruments.


The data can be shown in a number of ways. Here it is shown sorted as increasing long %.

The MyFxBook data also shows the "average long price" and "average short price" (volume-weighted), as shown below.


The indicator is available for a small fee from my store.

Monday, May 20, 2019

FXCM JPY Currency Basket

FXCM recently launched a couple of new currency basket / indices. They now have a "JPYBasket"  (JPY currency basket) and "EMBasket" (Emerging Market currency basket).

Here's a quick comparison of he JPYBasket with my Currency Strength Indicator (JPY Index).


The absolute value of the index or basket is not so important (it is just scaled from some arbitrary reference) - it's the shape of the index that is relevant. The Currency Strength Indicator can only show the line value (not candle). However, the Currency Strength Indicator can generate baskets for all major base currencies (USD, EUR, GBP, JPY, AUD, CAD, NZD and CHF).

More information on the Currency Strength indicators can be found here.