Strength meter

[Ingvar Engelbrecht]

Before starting coding a relative stength indicator that compares the major pairs with each other I wonder if there is any good MT4 versions around.

Have tested 2 but are not happy with the results

[Alexander Voronkov]

Ingvar Engelbrecht:

Before starting coding a relative stength indicator that compares the major pairs with each other I wonder if there is any good MT4 versions around.

Have tested 2 but are not happy with the results

Aye!

[Ingvar Engelbrecht]

Not much.

So, any good ideas on how to make an indicator like this?

[PRADIP RUPARELIA]

upto date accurate reliabe

[Ingvar Engelbrecht]

upgradeableea:
upto date accurate reliabe

  And?

That is just a picture.  More info please

[PRADIP RUPARELIA]

There are plentry of free ones around , none with a single answer  of  what is the strength.

 

Add the strength of all time frames , giving more emphasis to 1 hour and 4 hour  and dailies.............but also the lower time frames for entry 

[Stanislav Korotky]

Here is just one example - https://www.mql5.com/en/articles/1472

[David Raine]

Ingvar Engelbrecht:

Before starting coding a relative stength indicator that compares the major pairs with each other I wonder if there is any good MT4 versions around.

Have tested 2 but are not happy with the results

I guarrantee you'll never find one that will make you happy, so it is best for you to go ahead write your own. That's how innovation happens!

[Ingvar Engelbrecht]

David Raine:
I guarrantee you'll never find one that will make you happy, so it is best for you to go ahead write your own. That's how innovation happens!

Of course you are right. I am just lazy. I guess there are many ideas on how floating around.  Anyone?

[Marco vd Heijden]

i usually add up then divide like so

   high[i]=
            ((iHigh("USDCHF",period,shift)-iOpen("USDCHF",period,shift))+
            (iHigh("USDCAD",period,shift)-iOpen("USDCAD",period,shift))+
            (iOpen("NZDUSD",period,shift)-iLow("NZDUSD",period,shift))+
            (iOpen("AUDUSD",period,shift)-iLow("AUDUSD",period,shift))+
            (iOpen("GBPUSD",period,shift)-iLow("GBPUSD",period,shift))+
            (iOpen("EURUSD",period,shift)-iLow("EURUSD",period,shift)))/6;

   low[i]=
           ((iOpen("USDCHF",period,shift)-iLow("USDCHF",period,shift))+
           (iOpen("USDCAD",period,shift)-iLow("USDCAD",period,shift))+
           (iHigh("NZDUSD",period,shift)-iOpen("NZDUSD",period,shift))+
           (iHigh("AUDUSD",period,shift)-iOpen("AUDUSD",period,shift))+
           (iHigh("GBPUSD",period,shift)-iOpen("GBPUSD",period,shift))+
           (iHigh("EURUSD",period,shift)-iOpen("EURUSD",period,shift)))/6;

and display like so

however as many said you need to know exactly what strength you are interested in.

for timeframes i usually do like so

[JD4]

Ingvar Engelbrecht:

  And?

That is just a picture.  More info please

Look up the indi name in the linked file name.  See if that gets you there.  I say it this way because not all the indis I have seen are listed on the platform or here on this site.