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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');
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
