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Economic events surprise

by QuantShare, 822 days ago
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Those who have downloaded and are using one of the historical calendar events downloader for forex pairs (Historical economic calendar data by currency symbol or Historical Economic Events or Currency Pairs Calendar Data) may find this function very useful.
The function accepts two inputs: A symbol name (the one that contains the historical calendar events) and an event name.

It reads the symbol events and searches for the events that have the same name as the 'eventname' parameter value. It then calculates the difference between the event actual value and the event forecasted value. A time-series of the differences is then displayed. The difference is positive when the actual value is higher than the forecasted value; otherwise, the difference is negative.

Here is an example: (The following downloader - Currency Pairs Calendar Data - was used)
a = eco_surprise('audusd', 'Consumer Confidence');
Plot(a,'Consumer Confidence',colorBlack,ChartBar,StyleSymbolNone);
Plot(0,'Zero line',colorBlack,ChartLine,StyleSymbolNone);

The first line assigns the current function to the variable 'a'. The first function parameter is 'audusd' with is the symbol of the Australian Dollar / U.S. Dollar forex pair. The second function parameter is 'Consumer Confidence', which is the name of an event.
Variable 'a' will contain the surprise values or the difference between the 'Consumer Confidence' event actual and forecasted values for the bars where the event was released. The first 'plot' displays the surprise time-series, and the second one displays the zero line.

If you want to plot a surprise time-series for the current symbol (the one that is used by the chart or the analyzer), you can change the first parameter of the 'eco_surprise' function to the following function: Name()
a = eco_surprise(Name(), 'Consumer Confidence');


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Type: Trading Indicator

Object ID: 223


Country:
All

Market: Forex Market

Style:
Fundamental Analysis




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