Currency Strength Ranking Panel - indicator for MetaTrader 5

The indicator shows a small panel that ranks the eight major currencies: USD, EUR, GBP, JPY, AUD, NZD, CAD and CHF. For every currency it takes the rate of change against each of the other seven over the last InpLookback bars of InpTimeframe and averages the results. A currency that rises against most of the others moves to the top of the list, and a currency that falls moves to the bottom.

The latest price is compared with the close InpLookback bars ago, so the ranking keeps updating while the current bar is forming. Positive values are drawn in the strong colour and negative values in the weak colour, and the bar length is proportional to the largest value on the panel. A common way to read it is to look for pairs that combine a currency from the top of the list with one from the bottom.

The indicator reads the 28 pairs built from the eight currencies. Pairs that are missing at your broker are skipped. If your broker adds a suffix to symbol names, enter it in InpSuffix. When the indicator is attached for the first time, the terminal may need a few seconds to load the history of all pairs, and the values stay at zero until it arrives.

Input parameters

• InpLookback - number of bars used for the rate-of-change calculation (default 24).
• InpTimeframe - timeframe used for the calculation (default H1).
• InpSuffix - symbol suffix used by the broker, for example ".raw" or "m". Leave empty if there is none.
• InpCorner - chart corner the panel is attached to.
• InpX, InpY - distance from that corner in pixels (scaled with the screen DPI).
• InpFontSize - font size of the panel text.
• InpUpColor, InpDownColor - colours for strong and weak currencies.
• InpTextColor, InpBgColor - text and panel background colours.

The panel scales with the screen DPI and can be placed in any corner of the chart. The indicator only displays information. It does not place or manage trades.

Currency strength panel on EURUSD M30