Aggregating Signed Volume Across Major Currency Pairs

Summary

This indicator builds a currency-centered view of activity across seven major foreign-exchange pairs. Users select a base currency, and the script maps it to related pairs, inverting quoted rates where needed. For each pair, volume is assigned a positive or negative sign according to whether that pair's close rose or fell from the prior bar. The signed values are summed across the selected pairs, with a short recent total plotted as a column oscillator.

A table reports each pair's current and longer-window sums, alongside aggregate totals, while reference circles mark the running positive maximum and a fraction of that level. The indicator is a descriptive volume aggregation, not a tested trading system, and it gives no entry, exit, or risk rules. Forex volume feeds can represent broker-specific tick activity rather than centralized traded volume, so pair coverage and comparability depend on the data source. The security calls use lookahead, which may also affect how historical values appear.

Key ideas

• The indicator aggregates signed volume from seven currency pairs related to a selected major currency.
• A rising close assigns positive volume, while a falling close assigns negative volume.
• Recent signed totals are plotted as an oscillator, with a table showing pair-level and aggregate windows.
• The display offers a measure of directional activity, but it does not define trade rules or demonstrate predictive value.
• Forex volume data and lookahead behavior can limit cross-provider and historical interpretation.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.