FOREX Currency Powers provides an example of calculation of Forex currency strengths using synthetic financial instruments.
Similarly, we can calculate the strengths of RTS, USD and RUB of the FORTS futures market.
Using the values of futures contracts "MIX-3.18" (~RTSRUB), "RTS-3.18" (~RTSUSD), "Si-3.18" (~USDRUB), "Eu-3.18" (~EURRUB), we can create an indicator of currency strengths:
Copy the CurrencyPowerIndex.mqh file to <terminal_data_folder>\MQL5\Include.
After you launch FORTS_Currency_Power.mq5, the following synthetic instruments will appear in the Market Watch window: FORTS.RTS.M5, FORTS.USD.M5, FORTS.RUB.M5:
Fig.1. Synthetic symbols FORTS.RTS.M5, FORTS.USD.M5, FORTS.RUB.M5
Fig. 2. A tick chart of the synthetic instrument FORTS.RTS.M5
Fig. 3. A tick chart of the synthetic instrument FORTS.USD.M5
Fig. 4. A tick chart of the synthetic instrument FORTS.RUB.M5
Fig. 5. Strength of RTS, USD, RUB calculated based on FORTS futures contracts
Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/19545
MetaTrader 5 allows creating synthetic instruments. The price of such instruments can depend on the current values of a number of financial instruments. In trading, such symbols allow spotting the beginning and end of global market movements at an early stage. In this example we create synthetic instruments to analyze the strength of Forex currencies EUR, USD, GBP, JPY and CHF.x1
Simultaneous opening of opposing positions. Lot management