DuoFX Currency Strength Meter MT5
- Indicators
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Dragos Mihai Ofrim
DuoFX Labs: trading tools for MetaTrader 5 and MetaTrader 4
We build the tools we use ourselves: fast, clean and honest about what they do. Every product ships for both MT5 and MT4 from the same code, is tested on live charts before release, and gets updates when traders ask for something. - Version: 1.1
- Updated: 10 November 2026
- Activations: 10
Know exactly who is strong and who is weak, before you place a single trade.
User guide and articles
Every forex pair is a tug of war between two currencies. Trade the wrong side of that fight and the best setup in the world will not save you. DuoFX Currency Strength Meter cuts through the noise: it scans all 28 major and cross pairs, crunches the strength of all eight majors (USD, EUR, GBP, JPY, CHF, CAD, AUD, NZD) and puts the answer right on your chart. Strongest on top. Weakest at the bottom. The pair that matches them, flagged for you. In one second, not twenty minutes of flicking charts.
Scalping, day trading or swing trading: multi timeframe currency strength
- Scalper, day trader or swing trader, it speaks your language: strength is split into Short term (M5, M15, M30), Medium term (H1, H4) and Long term (D1, W1), plus an Overall score.
- Use it for pair selection: trade the strongest currency against the weakest, and skip pairs where two currencies sit in the middle of the table.
- Spot the moment every horizon lines up behind one currency, and the moment they disagree.
- Want the full picture? One click opens a column for every single timeframe.
- Fully yours to configure: up to 12 timeframes across the groups, from M1 all the way to MN1 (MT5 also offers M2 to H12).
Strongest currency vs weakest currency: the heat map
- A bold heat map from deep red (weakest) to vivid green (strongest). No squinting, no maths.
- All eight currencies ranked live, each with its own strength bar.
- "Strongest vs weakest" pair served up with its direction, ready for your analysis. It frames the trade; you still time the entry with your own method.
- Works on gold charts too: the meter reads the 28 forex pairs, so it shows the USD, EUR and JPY backdrop that often drives XAUUSD (it does not rate gold itself).
- Your choice of a clean 0-10 score or the raw % change.
Currency strength alerts: know the moment the leader changes
- Get an alert when the strongest vs weakest pair changes: "New top pair USDJPY (buy): USD strongest, JPY weakest". Buy when the strong currency is the base, sell when it is the quote, exactly as your broker quotes the pair.
- Optional gap alert: hear about it when the strongest currency pulls further ahead of the weakest than the level you set.
- Popup, push notification, email and sound. Push and email use the settings in Tools > Options.
- Built not to nag: a new leader must hold for 5 minutes (you choose) before it alerts, there is a minimum pause between alerts (15 minutes by default), one alert per change, and nothing fires when you load the meter or switch timeframe.
- Off by default, so nothing changes until you switch it on. With the meter on several charts, switch alerts on in one copy.
Strength alerts on Telegram and Discord with the free DuoFX Alert Relay
- Switch on "Send to DuoFX Alert Relay" and run the free DuoFX Alert Relay on any one chart: every strength alert also goes to Telegram, Discord, MetaTrader push or email, with the pair and the direction.
- Off by default. The meter works exactly the same without the relay.
- If the relay sends push or email, switch off the meter's own push or email so nothing arrives twice.
A currency strength dashboard built like premium software
- Solid, razor-sharp panel that always sits on top of your chart. Candles never bleed through.
- Drag it anywhere. It remembers its spot when you switch timeframes.
- Collapse it into a sleek bar that still shows the strongest and weakest currency. One click and it rolls back open.
- Dark, light, or automatic to match your chart.
- The layout rebuilds itself around your font size and screen scaling, so it stays tight and crisp.
Engineered to be fast and featherweight
- Runs on a timer, not on every tick, so your terminal stays fast even in the busiest sessions.
- Redraws only when something actually changes.
- Plug and play with any broker: symbol prefixes and suffixes (EURUSD.a, EURUSDm and others) are detected automatically, and any missing pairs are skipped gracefully.
- No DLLs, no internet connections, nothing to install. Drop it on a chart and go.
Available for MetaTrader 5 and MetaTrader 4.
Currency strength meter FAQ
- What is a currency strength meter? A tool that ranks the eight major currencies by how strongly each has moved against the others, so you pick pairs by strength instead of guessing.
- How do I use it to pick pairs? Look for the strongest and the weakest currency, then take their pair in the direction shown, after you confirm with your own entry signal. When two currencies sit close together, the pair between them has little to offer.
- Does it work for scalping? Yes, set the Short term group to M1, M5 and M15 and shorten the lookback. It is an analysis tool and does not give entry signals.
- Does it need internet or DLLs? No. It reads your own broker's prices.
- Which timeframes? Up to 12, from M1 to MN1, grouped any way you like. Defaults: Short M5/M15/M30, Medium H1/H4, Long D1/W1.
- Does it work with my broker? Yes: prefixes and suffixes such as EURUSD.a or EURUSDm are detected automatically.
- MT4 or MT5? Both, same features, sold as two products.
- Does it have alerts? Yes, from version 1.1: a currency strength alert when the strongest vs weakest pair changes, and an optional gap alert, by popup, push, email or sound, and on Telegram and Discord with the free DuoFX Alert Relay.
Settings
- Short / Medium / Long term timeframes (comma separated, e.g. M5,M15,M30)
- Lookback in bars on each timeframe (default 12)
- Values: Score 0-10 or % change
- Sort by: Overall, Short, Medium, Long term, or fixed order
- Columns at start: groups or every timeframe
- Refresh interval (seconds)
- Symbol prefix / suffix (blank = automatic)
- Alerts: when the strongest vs weakest pair changes (default off), when the strength gap rises above a level (0 = off), hold time (5 min), minimum pause between alerts (15 min)
- Alert by: popup, push, email, sound, sound file, send to DuoFX Alert Relay (default off)
- Corner, horizontal and vertical offset, theme, font, font size, start minimised
How strength is calculated
For each timeframe, the indicator takes the % change of every available pair over the lookback, adds it to the base currency and subtracts it from the quote currency, and averages each currency over its pairs. Scores rescale the eight currencies to 0-10 on each timeframe; groups and Overall average them.
What's new in 1.1
- Currency strength alerts: get told when the strongest vs weakest pair changes, with buy or sell as your broker quotes the pair.
- Optional gap alert when the strongest currency pulls ahead of the weakest by more than your level.
- Popup, push, email and sound, with a hold time and a minimum pause between alerts so they never flip-flop.
- New "Send to DuoFX Alert Relay" setting (off by default): run the free DuoFX Alert Relay and get every strength alert on Telegram, Discord, push or email.
- MT4: timeframe lists with spaces, such as "M5, M15, M30", are now read correctly.
Disclaimer: Trading forex and CFDs is high risk and markets can move fast. This indicator is a market analysis tool for educational and informational purposes only. It is not financial advice and does not guarantee results. Past performance does not indicate future results.
