Pair Currency Strength Meter MT5

Eight currencies, up to 28 pairs, and an overview of their movements on one screen. Pair Currency Strength Meter for MetaTrader 5 compares related currency pairs, calculates the relative strength of each currency, and helps you assess a selected pair in the context of the currency network.

The analysis covers USD, EUR, GBP, JPY, CHF, CAD, AUD, and NZD. The indicator first evaluates the available data and the state of each currency. It then selects a pair and creates an analytical plan when the model's conditions are met. Short-term movement, the main direction, and the longer-term context are assessed separately.

Main features

• Pair selection and data checks. The indicator accounts for broker prefixes, suffixes, and symbol families, selecting one instrument for each connection between currencies. Network Grade, from A to D, reflects the state of the network based on its connectivity, the number of available pairs, historical data coverage, and data synchronization.
• Relative strength calculation. A pair's movement is treated as the difference between the strength of its base and quote currencies. The calculation reduces the influence of individual outliers. Analysis and normalization use closed one-minute data, without incorporating later data into previously calculated states.
• Tracking currency movements. Campaign Engine tracks currency campaigns: the development of a currency's movement across related pairs. The model distinguishes candidate, formation, active, mature, fading, completed, and cancelled stages. It evaluates duration, consistency, and how widely the movement is supported across the network. Conflicting movements between pairs and insufficient data are assessed separately.
• Selecting a pair to monitor. Attention Engine pairs a currency with a higher strength score with one that has a lower score. Selection takes into account movement consistency, the pair's deviation from the network model, the campaign stage, spread, historical data, and price structure.
• Analytical planning. Signal Planner calculates entry and pullback zones, a target, a protective stop level, and the ratio of potential price movement to risk. A scenario moves through waiting, preparation, activation, completion, or cancellation. Once a plan is fixed, it is not retrospectively rebuilt to fit an outcome that is already known.
• A single overview panel. The full-screen panel displays the eight currencies, their relative strength, the selected pair, direction, the number of related pairs supporting the movement, consistency, data quality, and plan parameters. Current tick activity is displayed separately and does not change calculations based on closed one-minute data.

Buy scenarios are confirmed using Ask prices, and sell scenarios using Bid prices. For a buy scenario, the target and protective stop level are checked against Bid; for a sell scenario, they are checked against Ask. Session statistics record completed scenarios and their results in units of risk. These are records of the indicator's calculated scenarios, not reports of actual executed trades.

The event log preserves events and the active plan's state across reinitializations. If storage is unavailable, calculations continue without recording new events. The analytical calculations also continue if the main visual layer is unavailable.

With chart auto-scroll enabled, Auto Follow can switch the chart to the pair selected by the model once the conditions are confirmed and restore the pinned plan. Manual browsing of historical data takes priority. Symbol switching is disabled in the Strategy Tester.

Usage

To explore the indicator, use the visual Strategy Tester on the M1 timeframe with the "Every tick based on real ticks" modeling mode. Allow the available history for related pairs to load and the network calculation to complete. In the tester, the scenario remains tied to the symbol being tested. Check Network Grade, historical data coverage, and data synchronization before assessing the results.

Pair Currency Strength Meter is an indicator, not an Expert Advisor. It does not submit or modify trading orders. The displayed levels form an analytical scenario. The user is responsible for trading decisions, position size, execution, and risk management.

Results depend on the symbol selection, quotes, historical data, spread, and broker conditions. Session statistics and historical testing do not guarantee profits or that the same results will occur in the future.

Settings

Data and analysis style

• Universe mode. Default: Auto Server, which automatically selects the available network at the broker. Market Watch uses instruments from the Market Watch window. Saved Profile and manual mode let you restrict the set of symbols.
• Trading style. Default: Balanced. Intraday uses horizons of 15, 90, and 360 minutes; Balanced uses 30, 180, and 1440 minutes; Swing uses 240, 1440, and 7200 minutes. Swing requires a longer one-minute history.
• The interface language is detected automatically or can be selected manually from 11 available languages.

Scenario selection and confirmation

• Signal selectivity. Default: 1.00. Range: 0.70 to 1.40, in steps of 0.05. Lower values relax the requirements for campaigns and pair selection; higher values make them stricter. An example range for initial testing is 0.90 to 1.15.
• Confirmation strength. Default: 1.00. Range: 0.60 to 1.80, in steps of 0.10. Sets the requirements for the stability of calculated states and the confirmation duration. Lower values make confirmation less demanding; higher values make it stricter. An example range for initial testing is 0.8 to 1.3.
• Repeat cooldown. Default: 4 hours. Range: 1 to 12 hours, in steps of 1 hour. Limits the repeated formation of a similar scenario within the selected period.

Scenario levels and spread

• Entry depth. Default: 1.00. Range: 0.70 to 1.35. Adjusts the pullback depth used for the calculated entry zone.
• Target ambition. Default: 1.00. Range: 0.75 to 1.40. Adjusts the distance to the calculated target.
• Stop protection. Default: 1.00. Range: 0.80 to 1.35. Adjusts the protective stop level relative to the price structure.
• Spread tolerance. Default: 1.00. Range: 0.60 to 1.80. Sets the acceptable spread when checking a scenario.

For the first run, use the default settings and wait for historical data to synchronize. Then change one parameter at a time and assess its effect on a later segment of data. Default values are a starting point, not universal settings for every market condition.