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Base or Counter Currency

by Tom Huggens, 4932 days ago
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This simple function can be used in Forex trading; it returns for a given symbol whether the specified currency is the base currency or the counter/quote currency.

The function is named "isbase", it accepts the currency name and it returns one if the specified currency is the base currency, minus one if the specified currency is the counter currency and zero if the specified currency does not belong to the current symbol.
For example, if you are working with the EURUSD forex pair, the following formula: isbase("USD"), returns -1.

This Forex function can be used in different scenarios:
Create a conditional trading rule that uses different rules depending on whether the currency tested is the base currency of the pair or not.
Create a composite index that creates an index for a particular currency. In this case, you must be able to detect whether the currency is a base currency and modify the calculation accordingly. For example, if you want to calculate the number of times the USD closed higher against other currencies, you should use "close > ref(close, 1)" in case USD is the base currency and "close < ref(close, 1)" in case the USD if the counter currency.

Forex Pairs historical data can be downloaded using one of the following downloaders:
Forex Quotes downloads EOD quotes for the following forex pairs: CHFJPY, EURCHF, EURGBP, EURJPY, EURUSD, GBPUSD, USDCHF, USDDEM (U.S Dollar / Germany Deutsche Mark), USDJPY, USDRUB (U.S Dollar / Russian Ruble)
Futures and Forex historical data gets historical data for futures, as well as for the following forex pairs: AUDJPY, AUDUSD, AUDCAD, GBPJPY, GBPCHF, EURAUD, EURCAD, EURJPY, EURCHF, EURGBP, EURUSD, USDCAD, USDJPY, USDCHF, GBPUSD, USDCNY (U.S Dollar / Chinese Yuan), USDINR (U.S Dollar / Indian Rupees), USDBRL (U.S Dollar / Brazilian Real), USDKRW (U.S Dollar / Korean Won)


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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.