Currency Strength Suite
- Indicators
- Version: 9.1
- Updated: 14 September 2026
- Activations: 10
This is an actively maintained release, rebuilt and expanded for current MT5 builds.
Currency markets move in relative terms. A strong-looking EURUSD setup can fail if the Euro is weakening broadly, or succeed only because the Dollar is falling everywhere else. Reading one pair in isolation misses that context.
Currency Strength Suite gives a structured, real-time view of relative strength and correlation across nine instruments (USD, EUR, GBP, JPY, CHF, AUD, NZD, CAD and Gold), helping you avoid stacking correlated risk without realising it.
Each instrument is scored on the Strength Ladder, a -10 to +10 scale combining RSI momentum, SMA trend confirmation and ATR volatility measurement into a single reading.
What makes Currency Strength Suite different?
Most strength meters stop at a ranking. This one adds:
- A full correlation matrix (-1.0 to +1.0), so overlapping trades don't hide as diversification
- Automatic currency clustering, grouping the strong and weak instruments together
- Strength/price divergence detection
- A three-timeframe scanner (H1/H4/D1) checking gap, divergence and breakout conditions across the whole currency board
What the dashboard includes
- Strength: the live Strength Ladder ranking for all nine instruments
- Sessions: session-based strength context
- Scanner: multi-timeframe gap, divergence and breakout scan across the board
- Analysis: pair-level breakdown
- Correlation: full correlation matrix
- Clusters: automatic strong/weak currency grouping
- Settings: thresholds, alert scheduling and colour themes
Alerts & automation
Configurable GAP, divergence, breakout and extreme-strength alerts, each with its own cooldown, delivered via popup, sound, push or email. A scheduler restricts notifications to chosen hours and can exclude weekends.
Use Currency Strength Suite to:
- Identify the strongest and weakest currencies before choosing which pair to trade
- Avoid opening multiple positions that are really the same trade wearing different symbols
- Confirm underlying strength before entering a trend continuation
- Spot divergence between price and strength before a reversal shows on the chart
How to use it
- Attach to any chart and set your currency list (default: 7 majors plus Gold).
- Check the Strength tab for the day's strongest and weakest instruments.
- Check the Correlation tab before opening a second position in a related pair.
- Enable the alerts you want and set your preferred hours in the scheduler.
Installation
Download from the MQL5 Market and attach to any chart. Enter the currencies to track (default covers all seven majors plus Gold) and the panel initialises automatically.
Requirements
MetaTrader 5 build 3280 or higher. Compatible with any broker and symbol naming convention.
Who it's for
Traders running multiple pairs, or trading a currency-basket approach, get the most from the full seven-tab dashboard. Traders who only watch one pair at a time are better served by Phoenix Trend Strength Meter (free).
Important Notes
This indicator analyses relative strength and correlation from price data. It does not predict future price movement or guarantee trading outcomes.
Feedback & Reviews
If this dashboard changes how you read the market, a review from the Reviews tab above helps the next trader find it.
Support
Questions or a setup issue? Message us via MQL5 Private Message; we reply personally to every message.
Interested in the rest of the Phoenix suite? View all our MQL5 Market products
Developed by Phoenix Global Investments Ltd.
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