Currency Strength Meter

Basic php or javascript outputting to Google gauges via JSON using AJAX. Required is a Currency Strength meter which output top 10 currencies on the Forex in JSON format. The formula is based on: (PIPS / [DAILY HIGH-LOW] ) * BIS Weighted Formula + (PIPS / [DAILY HIGH-LOW] ) * BIS Weighted Formula… Then divide by Number of Pairs. PIPS = Amount of pips this pair is at in reference to the daily range. If EURUSD is at 1.3500 and the daily range is 1.3450 to 1.3550, this figure would be 50. Daily HIGH-LOW = This is the Daily High/Low range for the currency pair. If EURUSD’s low is 1.3450 and high is 1.3550, the daily range would be 100. The daily range is calculated from 5:00pm EST to 4:59pm EST 24 hour period, standard day for the Forex market, BIS Weighted Formula = Once you get the reading and based on the pair, you’d multiply that using Bank of International settlement Forex volume distribution list to get the right weight. + = Repeat this process for every pair that contains your currency. For instance, the reading of EUR will require the meter to repeat the process 7 times: EURUSD, EURGBP, EURCHF, EURJPY, EURAUD, EURCAD, EURNZD. Finally, you take the average reading and divide the result by the number of pairs, which is 7. You repeat the same process for all 8 majors. You also have to keep in mind for reverse calculations as per the naming convention, because sometimes your currency could be either the base or quote currency in a pair, like USD is to USDJPY and EURUSD.