Currency Strength Meter Premium 1.52 for MT4: Complete User Manual

Currency Strength Meter Premium 1.52 for MT4: Complete User Manual

Currency Strength Meter Premium is an analytical indicator for MetaTrader 4. It compares the relative strength of selected currencies across the currency pairs available in the terminal, then presents the result as lines, an equalizer-style display, or both. It is designed to help narrow pair selection and add multi-currency context before a trader applies a separate entry, exit, and risk process.

This manual is limited to the verified public Market version 1.52 and the matching local source version 1.52. The indicator does not open, modify, or close trades. It does not predict price, guarantee a signal, or replace confirmation and risk management. Calculation results depend on the symbols, price history, timeframe, broker naming scheme, and method selected in the Inputs tab.

Current product page: https://www.mql5.com/en/market/product/60321

1. What the Indicator Does

The indicator builds a separate strength series for each configured currency. For every relevant symbol, it evaluates the selected calculation method and assigns the contribution to the base currency and the quote currency in opposite directions. Contributions are combined across available pairs so that the display represents a relative comparison rather than the movement of one pair alone.

Up to ten currencies can be displayed. The default list contains USD, EUR, AUD, CAD, NZD, CHF, JPY, and GBP. You can use a smaller list when you only need a focused comparison. A large list requires more symbols and more historical data, so begin with the currencies and pairs that are actually available from the connected broker.

The line view is useful for observing changes over time. The equalizer view is useful for a quick snapshot of the latest relative values. A strong reading does not by itself mean that a currency must continue rising, and a weak reading does not by itself mean that it must continue falling. Treat the display as context for pair selection and confirmation.

2. Requirements and Installation

You need MetaTrader 4, access to the product through the MQL5 Market, and enough history for the symbols used in the calculation. The indicator reads broker symbols and their price series. Missing symbols, unavailable timeframes, incomplete history, unusual prefixes or suffixes, and inactive Market Watch entries can change or reduce the calculation set.

1. Open MetaTrader 4 and sign in to the MQL5 account that owns the product.
2. Install Currency Strength Meter Premium from the Market or the Purchases section.
3. Open a liquid forex chart and confirm that the relevant symbols are available from the broker.
4. If you plan to restrict calculations to Market Watch, first add every required pair to Market Watch and load its history.
5. Drag the indicator from Navigator onto the chart.
6. Start with the default currency list, current timeframe, MovingAverage method, and DisplayBoth view.
7. Confirm that all expected lines and labels appear before enabling alerts or increasing the number of calculated bars.

Attach one controlled instance first. If you use several instances with different methods or timeframes, keep their settings visually distinct and compare them only after each instance has loaded the required data.

3. How the Strength Calculation Works

The source supports five methods: CCI, DeMarker, Momentum, MovingAverage, and RVI. The selected method is applied to the available currency pairs on the selected monitoring timeframe. The contribution of a currency is averaged across the pairs in which it appears.

MovingAverage compares the pair close with a simple moving average. A base-currency contribution and a quote-currency contribution are applied in opposite directions. CCI uses the Commodity Channel Index value, DeMarker uses the DeMarker value, Momentum uses the Momentum value, and RVI uses the main Relative Vigor Index value with the source-defined direction handling.

The numerical scale is method-dependent. A threshold that is useful with MovingAverage may not be suitable for CCI, DeMarker, Momentum, or RVI. After changing the calculation method, review the displayed range and retune the upper and lower levels instead of assuming that the old thresholds remain meaningful.

The indicator needs synchronized data for each included symbol and the selected timeframe. If a required bar cannot be matched, that symbol does not contribute to that point. For this reason, first-run values can change as MetaTrader downloads history. Wait for data loading to finish before evaluating the display.

4. Quick Start Workflow

1. Keep Currencies to monitor at its default list for the first run.
2. Leave Use symbols only from Market Watch for calculations disabled if the broker makes a clean set of standard forex symbols available, or enable it after building a controlled Market Watch list.
3. Choose MovingAverage in indicatorToCalculateStrength .
4. Keep Indicator period at 25 and Timeframe to monitor at PERIOD_CURRENT.
5. Select DisplayBoth in Display only lines, equalizer or both .
6. Confirm that the current chart's base and quote currencies are visually emphasized when Mark currencies of current instrument with bold lines is enabled.
7. Observe several completed bars before interpreting a cross or divergence between currencies.
8. Enable alerts only after the threshold levels have been tested on the selected method and timeframe.

This workflow provides a stable baseline. Change one group of settings at a time so that the effect of each change remains visible.

5. Input Parameters

The names below follow the MT4 Inputs display. Where the source provides a comment after the input declaration, that user-facing comment is used exactly. One declaration has no display comment; MT4 therefore shows indicatorToCalculateStrength as written.

Currency universe

• Currencies to monitor accepts a comma-separated list. Use standard three-character currency codes and keep the list to ten currencies or fewer.
• Use symbols only from Market Watch for calculations limits symbol discovery to Market Watch when enabled. Make sure the necessary pairs and histories are present before using this mode.
• Currency pairs to exclude (split by comma) is present in version 1.52, but the verified source does not complete its skip flag after finding a match. Do not rely on pair exclusion in this version. Control the calculation universe with Market Watch and verify the actual lines until a later public version explicitly corrects this path.

Method, period, timeframe, and display

• indicatorToCalculateStrength selects CCI, DeMarker, Momentum, MovingAverage, or RVI.
• Indicator period controls the period passed to the selected calculation method.
• Timeframe to monitor selects the MT4 timeframe used for the calculations. PERIOD_CURRENT follows the current chart timeframe.
• Display only lines, equalizer or both accepts OnlyLines, OnlyEqualizer, or DisplayBoth.
• Upper level and Lower level define horizontal reference levels. A zero value suppresses the corresponding level.
• Upper level color and Lower level color control the reference-line colors.

Currency and disabled-state colors

• Currency #1 color
• Currency #2 color
• Currency #3 color
• Currency #4 color
• Currency #5 color
• Currency #6 color
• Currency #7 color
• Currency #8 color
• Currency #9 color
• Currency #10 color
• Color for temporarily disabled currencies

Color positions follow the order in Currencies to monitor . When a visible currency label is clicked, its line can be temporarily hidden and the label changes to the disabled-state color. Click the label again to restore the line.

Alerts

• Turn on alerts is the master switch for threshold-cross notifications.
• Turn on mobile alerts for updwards cross controls push notifications. The spelling shown here matches the version 1.52 MT4 input label. In the verified source, the same switch is used for both an upward cross of the upper level and a downward cross of the lower level.
• Turn on terminal alerts for updwards cross controls terminal pop-up alerts and likewise applies to both threshold directions in version 1.52.

Mobile notifications also require a valid MetaQuotes ID and enabled push notifications in the MetaTrader options. Test a terminal alert first, then test the mobile route without assuming that terminal success proves phone delivery.

Line emphasis and calculation depth

• Mark currencies of current instrument with bold lines emphasizes currencies whose codes are found in the current chart symbol.
• Size of bold lines controls the emphasized width.
• Bars to calculate limits the historical calculation depth. A larger value increases the amount of work and required history.

Currency labels

• Show currencies labels shows or hides the interactive currency labels.
• Locate currency labels accepts Vertically or Horizontally.
• Corner to locate currency labels accepts TopRight, TopLeft, BottomRight, or BottomLeft.
• Vertical indent for currency labels controls the distance from the selected vertical edge.
• Horizontal indent for currency labels controls the distance from the selected horizontal edge.
• Distance between currency labels controls label spacing.
• Font size controls the currency-label text size.

6. Choosing a Calculation Method

MovingAverage is a practical baseline because its source calculation expresses price relative to a simple moving average. It can be useful when you want a normalized view of whether constituent pairs are above or below their recent average, but it is still sensitive to period and timeframe.

CCI can create a wider, oscillator-like scale. Review its actual values before setting thresholds. DeMarker operates on its own bounded scale, so MovingAverage thresholds should not be copied to it. Momentum is centered around its method-specific baseline rather than the MovingAverage scale. RVI uses the main RVI series with the direction defined in the product source.

Do not compare the raw numeric value from one method with the raw numeric value from another as though they represented the same unit. Compare currencies within the same instance, method, timeframe, and symbol universe. If you need confirmation from a second method, run a separate instance and treat agreement as additional context, not as proof of a future move.

7. Reading Lines, Equalizer, and Interactive Labels

OnlyLines displays the historical currency series. Use it to observe relative changes, crossings, separation, and convergence. OnlyEqualizer focuses on the latest state. DisplayBoth combines the two views.

The indicator can emphasize the currencies contained in the current chart symbol. On a standard EURUSD chart, for example, EUR and USD can be drawn with the configured bold width. The broker prefixes or suffixes can affect this identification because version 1.52 relies on currency codes within symbol names.

The visible labels are interactive. Clicking a currency label hides its line and applies Color for temporarily disabled currencies ; clicking again restores it. This is a display action. It does not rebuild the calculation universe or change the configured currency list. To permanently remove a currency from the instance, edit Currencies to monitor and reload the indicator.

8. Alerts and Threshold Testing

Alerts are generated when a currency moves from below to above the upper level or from above to below the lower level using completed recent values. One alert state is retained per currency for the current chart-bar context.

Before enabling alerts:

1. Select the final calculation method and monitoring timeframe.
2. Observe the normal value range across several sessions.
3. Set Upper level and Lower level for that method rather than copying defaults blindly.
4. Enable Turn on alerts .
5. Enable the terminal or mobile route required for the test.
6. Confirm the alert currency and threshold against the chart before taking any action.

An alert reports a threshold crossing; it is not an instruction to buy or sell. Spread, volatility, market state, price structure, execution conditions, and risk limits remain separate decisions.

9. Broker Symbols, History, and Version 1.52 Boundaries

The calculation expects currency codes in broker symbol names and uses available symbols as its pair universe. Standard six-character names are the cleanest case. Prefixes, suffixes, synthetic symbols, CFDs, metals, and nonstandard currency naming can reduce matching accuracy, especially for quote-currency recognition.

When Use symbols only from Market Watch for calculations is enabled, an incomplete Market Watch list produces an incomplete comparison. When it is disabled, a large broker symbol catalog can increase initial loading and calculation work. Build a controlled symbol set, confirm history availability, and compare results after the terminal has synchronized.

The verified version 1.52 source contains the Currency pairs to exclude (split by comma) field, but its match branch exits before establishing the exclusion state. This manual therefore does not claim that pair exclusion works in the public version. Use Market Watch as the practical scope control and validate every intended exclusion from the visible output.

The indicator supports up to ten display buffers. Keep Currencies to monitor at ten entries or fewer. Empty or malformed currency codes, spaces inside the comma-separated list, and broker symbols that do not contain the expected codes can result in missing or misleading lines.

10. Controlled Testing Procedure

Use a demo account or a chart that does not affect an active trading workflow.

1. Load eight default currencies and DisplayBoth on the current timeframe.
2. Confirm that the expected lines and equalizer blocks appear.
3. Enable the Market Watch restriction and compare the result before and after adding one required pair.
4. Switch between MovingAverage and one alternative method, noting that the scale changes.
5. Change Indicator period and confirm that line responsiveness changes without assuming that faster means better.
6. Set a different Timeframe to monitor and wait for the terminal to download the required history.
7. Click one visible currency label, confirm that the line hides, then click it again to restore it.
8. Test terminal alerts with deliberately observed thresholds before enabling mobile notifications.
9. Restart MetaTrader or reload the indicator and confirm that the intended Inputs are still applied.
10. Repeat on the same broker and symbol set that will be used in the actual analysis workflow.

Record the method, period, timeframe, currency list, Market Watch scope, thresholds, and broker symbol format. Without that context, screenshots or readings from different instances are not directly comparable.

11. Troubleshooting

A currency line is missing

Check Currencies to monitor , the ten-currency limit, broker symbol names, Market Watch scope, and available history. Make sure at least one usable pair contains the currency code in a format version 1.52 can recognize.

Values appear late or change after attachment

MetaTrader may still be downloading history for several symbols or the selected timeframe. Wait for synchronization, reduce Bars to calculate , and verify that the relevant charts can load data.

The excluded pair still affects the result

Do not rely on Currency pairs to exclude (split by comma) in public version 1.52. Restrict the usable symbols through Market Watch, reload the instance, and verify the visible result.

Push notifications do not arrive

Confirm the MetaQuotes ID, terminal notification settings, internet connection, and Turn on mobile alerts for updwards cross . Test the terminal route separately. Alerts also require Turn on alerts and an actual threshold cross.

Thresholds behave differently after changing the method

Each method uses a different numerical scale. Re-observe the range and configure new upper and lower levels.

Current-pair lines are not bold

Check Mark currencies of current instrument with bold lines , Size of bold lines , and the broker's symbol naming. Prefixes or suffixes can affect currency-code matching.

12. Frequently Asked Questions

Does the indicator place trades?

No. Version 1.52 is an analytical indicator and contains no order-submission or position-management workflow.

Can I monitor higher timeframes from a lower-timeframe chart?

Yes. Select the required value in Timeframe to monitor , then wait for the corresponding history to load.

Which method is best?

There is no universally best method. MovingAverage, CCI, DeMarker, Momentum, and RVI have different scales and behavior. Test the method that fits your analysis process and validate it on historical and current data.

Can I monitor cryptocurrencies or exotic currencies?

The currency list can contain other three-character codes, but calculation quality depends on the broker symbols and whether version 1.52 can recognize them consistently. Validate the actual pair universe and output.

Does hiding a label remove the currency from calculations?

No. Clicking a label temporarily changes the display. Edit Currencies to monitor to change the configured list.

Can I exclude one problematic pair?

The input exists, but the verified version 1.52 source does not complete the exclusion flag. Use a controlled Market Watch list and verify the visible calculation instead.

13. Final Checklist

• The installed Market product reports version 1.52.
• The configured currency list contains ten codes or fewer.
• The required broker symbols and histories are available.
• The Market Watch restriction matches the intended calculation universe.
• The method, period, and timeframe are recorded.
• Thresholds were tuned for the selected method.
• Terminal and mobile alert routes were tested separately.
• Broker prefixes and suffixes were reviewed.
• Pair exclusion is not assumed to work in version 1.52.
• The display is used as relative analysis context, not as a guaranteed trade signal.

Currency Strength Meter Premium can make multi-currency comparison more structured when its symbol universe, calculation method, timeframe, and limitations are controlled. Validate the setup on the same broker environment used for analysis and combine the relative-strength view with independent price and risk rules.