New Formula for calculating Currency Strength (Excel)

mtharwat
129
mtharwat  

Hello everyone,

This is something I created and I want to share it with you. 


I am calculating currency strength in three time frames.
In each time frame, the formula is as follows
(Current Price - Low)/Low * 100 The result will always be positive
(Current Price - High)/High * 100 The result will always negative

Add the two results and if the net one is positive, it implies (potential) bullishness, and the opposite is true.


Try it in demo only and test it! 

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I am attaching two workbooks: (One for Excel RTD) and another for (DDE MT4). The latter will obviously be for a one-time frame due to its limitations.

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The first workbook is for Excel RTD:

All you need to do is to type the time frames on the top right corner in the second sheet.  All headers and charts will be adjusted accordingly.

And in the first one, you just type your account number in the top left corner. 

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The second workbook is for DDE if you do not have Excel RTD
Documentation on MQL5: Constants, Enumerations and Structures / Environment State / Account Properties
Documentation on MQL5: Constants, Enumerations and Structures / Environment State / Account Properties
  • www.mql5.com
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