Forex Sentiment Index.
Shows the percentage of longs in the overall amount of open trades in the most popular currencies and currency pairs consolidated by liquidity consumers.
The sentiment ratio of Liquidity providers is opposite to Liquidity consumers (opposite to getIndexValue().
The index reflects the distribution of the current market conditions and is updated every 30 minutes.
If the number of traders selling a currency increases compared to those buying the currency (or instrument), the index approaches 0.
If there are more traders buying a currency than selling it, the index approaches 100.
Overbought/oversold zones are defined at the 70/30 level.
If the index reaches 30 or below, the currency (or instrument) has entered the oversold area and a reverse upward trend is very likely.
Accordingly, the opposite response is likely if the index reaches 70 or above (the overbought zone).
If the index is in the zone between 30 and 70, fluctuations are considered neutral.
In other words, the index value is percentage of LONG positions in the overall amount of open trades.
To calculate the percentage of SHORT positions in overall amount of trades use (100 - getIndexValue())
the percentage of LONG positions in the overall amount of open trades.
Returns the current index trend (percentage of LONG positions minus percentage of SHORT positions in overall amount of trades)