Plotting only the base currency on a chart?

[TraderYoda]

Hello Support,

Instead of plotting a currency pair like GBPUSD on a chart, I want to be able to plot just the base currency - GBP

Is Ninjatrader 8 able to do this? Would I need to contact my data provider about this?

Appreciate your help

[NinjaTrader_PatrickG]

There must be another pair for comparison or you would receive only 1s on your chart. In other words, 1 GPB is always 1 GBP. It is only when you compare it to another currency that you see a changing value. For example, right now the GBPUSD is around 1.319. This means 1 GBP is worth approximately 1.32 USD. The GBPUSD chart is showing you how much 1 GBP (the base currency of the pair) is worth in USD (the quote currency of the pair).

With that said, I have seen some custom add-ons which provide a value for only a single currency. If you write into PlatformSupport[AT]NinjaTrader[DOT]com a colleague will provide you with more information about these add-ons.

Additionally, if I am misunderstanding what you're asking for, please provide me with additional information about what you'd like to see within NinjaTrader. If you have any links to examples, that would be helpful as well.

[TraderYoda]

Hi Patrick

Thanks for the information. What I'm after is something similar to what these Currency Strength Meter indicators offer. They are able to plot the momentum/direction of each base currency individually. From looking around the internet, I think they may be using the Currency Index principle like the USD Index?
If these indicators can plot individual base currencies (which I think is being compared to a basket of other currencies), then I was hoping to use the same principle so I could plot charts of each base currency and then use my own indicators on that base currency.........if that makes sense?

I don't know if the base currency Index is the only way to do this? I have seen vendors offering USD Index, JPY Index and EUR Index which are indicators themselves - each one being measured against four other currencies.

I have sent an email to NinjaTrader Platform Support referencing this post and asking for information on the add-ons you mentioned

Thank you for the assistance