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This Forex indicator is almost the same as Forex Trading Indicator - Better than expected Economic Calendar Events. It calculates the percentage of economic releases that are better than expected for a country. The difference is that this trading indicator doesn't take into account economic releases that have no forecast value.
Using the example provided here Forex Trading Indicator - Better than expected Economic Calendar Events. This indicator will return a value equal to 33% on April 2, 2010 because on that date, two events had no forecast value ("Average Hourly Earnings (YoY)" and "Average weekly Hours").
This Forex trading indicator requires the following economic calendar downloader: Currency Pairs Calendar Data. It provides economic releases history with several fields such as the economic impact of the release, the actual value, the expected value, the previous value and the country that is releasing the event.
Usually, an economic release is considered to be better than expected when its actual value is higher than the forecast value. However, for some economic events, the indicator considers that an economic release is better than expected when the actual value is lower than the forecast value.
These events are:
Unemployment Rate: A lower value is better
Initial Jobless Claims
Claimant Count Change: A measure of the change in the number of unemployed people in the UK.
This Forex indicator can be used to create trading rules, trading systems, strategies and neural network prediction models.
The indicator name is "PerBetterExpectedEventsNoNaN".
Here is another Forex trading indicator: Economic events surprise calculates the difference between the actual value and the forecast value of an economic release.
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.
