MQL5 - Language of trade strategies built-in the MetaTrader 5 client terminal

Source code library - Expert Advisors, Indicators and Scripts

Buy Latest Technical Indicators in MetaTrader Market
To post a new code, please log in or register

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

2010.07.12 08:55
USD Strength Effect Indicator

USD Strength Effect Indicator - indicator for MetaTrader 4

| English Spanish Portuguese


See what effect 7 pairs structured on a single base currency may have on the currency you are trading. Very configurable.

The Indicator assigns a value to each pair depending whether both moving averages are going up or down and a reduced value if the fast ma is moving opposite to the slow ma. There are finite levels with 10 being maximum and -10 being minimum. 10 denotes that your currency is overbought while -10 denotes oversold.

There is a distinction made between a Major pair such as USDCHF (base first) and a Minor pair such as AUDUSD (base last). You can elect 3 major pairs and 4 minor pairs to be used in calculations using the same base currency in all. The defaults work well and you will probably never need to change them.

As an interesting side note, if you wanted to use the AUD as the base currency you could elect three major AUD pairs and 4 minor AUD pairs and you would then get the effect of overall AUD performance. This may be of use if you only traded Tokyo or such.

Works well as a confirming signal to other indicators such as Williams Percent Range etc, and often appears predictive.

You can call the iCustom with the following code line if you want an extra confirmation inside an Expert Advisor or such.

double val=iCustom(NULL, 0, "Brooky_USD_Strength",".",".","USDCHF","USDJPY","USDCAD",".","AUDUSD","EURUSD","GBPUSD","NZDUSD",".",55,34,".",15,".",0,1,0);

Change the 55 and 34 at the end to reflect slow and fast Moving Averages which are used for strength calculations if you want.

if(val>=8) denotes overbought. if(val<=-8) denotes oversold.

Last comments | Go to discussion (3)
MQL4 Comments
mql4_comments | 6 Dec 2010 at 16:40

Hi dear its a nice indicator. I changed its priods 55,34,15 by 20,13,6 its gives me more good decisions. Also I made Brooky EUR strength effect indicator by replacing simply USD by EUR and 10,-10 by 3,-3. But i want to inverse or reciprocal in indicator window but do not how plz help me. you may send me also email at thanx a lot

MQL4 Comments
mql4_comments | 6 May 2012 at 23:08
what is main chart window showing then, dollar only?
MQL4 Comments
mql4_comments | 6 May 2012 at 23:10
also, can you make EA to *open buy or sell when black line touches 9 or -9? thanks if so please post notice on here so i can share test results