Discussing the article: "Currency pair strength indicator in pure MQL5"
It is ill-considered and extremely inefficient to use currency pairs in the form of a large list of crosscourses. It is correct to take only currencies relative to one base (usually USD) and get any combinations from them.
Everything is rightly done, and many times more obvious than starting from a single currency.
Excellent work!
It is ill-considered and extremely inefficient to use currency pairs in the form of a large list of crosscourses. It is correct to take only currencies relative to one base (as a rule, USD) and get any combinations from them.
bad variant, as the code will turn out to be small :-)) and dangerous - the meaning of the introduced term "currency strength" may be lost.
Done right, and many times more obvious than pushing back on a single currency.
Well done!
If it is not obvious for a trader that, for example, EURJPY is EURUSD*USDJPY, he is probably engaged in a wrong business. If we take only forex "majors", it is easier (in all senses) to process 7 pairs than 28. And what will you do if the broker (as it often happens) does not have some crosses? And if you want to add "minors", local currencies, metals to the basket? Are you suggesting to drag the whole Market Watch into the MQL-programme, although it is not required to evaluate the same basket? It is because of such advisors that questions regularly appear on the forum: oh, my indicator is slowing down, my tester agents have eaten up all the memory, etc.
I didn't start talking about some ripped out pieces of code, including those that don't compile in principle, such as UpdatePairDisplay.
Unsatisfactory.
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Check out the new article: Currency pair strength indicator in pure MQL5.
Imagine a trader who faces the chaos of the forex market every day. 28 currency pairs flicker across the screen, each moving at its own pace, creating a symphony of market movement. But how to catch the main melody in this financial orchestra? How can we determine which currency is currently leading the market, and which is faltering and losing ground?
Today we are going to create something special — an indicator that will turn this chaos into a clear picture of market strength. Imagine a tool that instantly shows how EUR is gaining strength on the hourly chart, while JPY is weakening on the daily timeframe. An indicator that doesn't just show data, but tells the story of each currency through the prism of three key timeframes.
In this guide, we will tread the path from an idea to a fully-fledged technical tool. Step by step, we will transform complex mathematical calculations and programming code into an elegant dashboard that will become your reliable trading assistant. We will not just write the code — we will create a tool that will change the way you look at market analysis.
Author: Yevgeniy Koshtenko