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MQLTA Currency Strength Lines DEMO

The Currency Strength Lines (CSL) Indicator is a very useful tool for both beginner and experienced traders. This indicator is able to calculate the strength of single currencies and show them in a graph so that you can see the trend and spot trading opportunities.

This DEMO only shows AUD, NZD, CAD and CHF, for full version please check https://www.mql5.com/en/market/product/22398


How does it work?

The CSL Indicator gives you the possibility to choose from different methods, once the method is selected the Indicator will run calculations on all the 28 pairs, resulting in the overall strength across the market of individual currencies at any given moment. You can use this data to spot currencies that are strong, getting stronger, weak, getting weaker.


How to Read the Indicator

  • A line going upwards means that the currency is gaining strength.
  • A line pointing downwards means that the currency is becoming weak.
  • A line above another one means that one currency is stronger than the other.
  • Flat lines, or almost flat, represent currencies that are maintaining the current strength.
  • A line above zero is likely to have a bullish trend against currencies below zero and vice versa.

If the option is enabled, the indicator will draw arrows for possible BUY or SELL signals in the current symbol. Notifications are available only in the paid version.


How to Trade with the CSL Indicator

Depending on your trading style you can use the CSL Indicator for long term and or scalping, better to confirm the entry signals with another indicator or price action.

Following the basic rules above to read the indicator you should always trade the strong against the weak so:

  • Diverging lines, that is where a currency is gaining strength and the other is losing strength.
  • Better when a line above zero and one below.
  • BUY the STRONG and SELL the WEAK.


Why you should use the CSL Indicator?

The Currency Strength Lines Indicator is a very useful tool to:

  • spot trend continuation.
  • spot possible trend reversal.
  • filter the pairs to trade, showing which currencies are strong and which are weak.


How to Test and Backtest

MetaTrader 4 has known limitations when it comes to backtest indicators and expert advisors involving multiple currencies so if you are trying to try the demo or backtest the indicator follow these steps:

  1. Open all the 28 pairs containing the 8 major currencies and the timeframe that you want to test, allow some time to download the historical data.
  2. Load the indicator in the strategy tester and choose your preferred parameters.
  3. Select a period to test that is quite recent to make sure that the historical data for all the 28 pairs is available.

This DEMO is provided FREE, so that you can see the indicator in action. For the full version, please check https://www.mql5.com/en/market/product/22398.


Indicator Parameters

  • Indicator's Name - the name of the indicator, this must be different if you intend to add more than one instance.
  • Calculation Mode - calculation method, choose the more suitable to your trading style.
  • RSI Period - period of the RSI in case you select a method using the RSI, suggested between 10 and 50.
  • RSI Smoothing - period of the moving average to smooth the lines when RSI MA is selected, recommended between 2 and 10.
  • Show Arrow Signal - to enable the drawing or arrows
  • Draw when a currency is above the other - to draw an arrow every time the lines cross
  • Draw if lines are opposite to the zero - less signals but more reliable
  • Buy Signal Color - color for buy arrows
  • Sell Signal Color - color for sell arrows
  • Neutral signal color - color for stop signal
  • Number of bars to calculate - number of bars to consider, above 1000 will cause slow loading time.
  • Pairs Prefix - the prefix of the pair.
  • Pairs Suffix - the suffix of the pair.
  • Currencies to Analyze - true or false to consider or ignore the currency, recommended true
    • AUD.
    • NZD.
    • CAD.
    • CHF.
  • Currencies Colors and Width
    • Corner to show the labels - Top or Bottom, Left or Right.
    • Horizontal offset (pixels) - Horizontal Spacing.
    • Vertical offset (pixels) - Vertical Spacing.
    • Label Color - color of label.
    • AUD.
    • NZD.
    • CAD.
    • CHF.
    • Width for Currencies not on chart - recommended 1 to 5.
    • Width for Currencies on chart - recommended 1 to 5.

If you like this tool please take a minute to leave a review.

If you have suggestions to improve it please send me a message and we can discuss it further.

Feel free to visit my profile and "Add to friends" https://www.mql5.com/en/users/mql4autotrading.

Reviews 1
Tim Eubanks
5542
Tim Eubanks 2018.03.22 11:45 
 

Indicator looks good, I will consider an upgrade to paid version

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Alan Hull's moving average, more sensitive to the current price activity than the normal MA. Reacts to the trend changes faster, displays the price movement more clearly. When the indicator color changes, it sends a push notification to the mobile device, a message to the email and displays a pop-up alert. Parameters Period - smoothing period, recommended values are from 9 to 64. The greater the period, the smoother the indicator. Method - smoothing method, may range from 0 to 3. Label - text
24.90 USD
MTF Parabolic SAR with Alert and eMail
Leonid Basis
When you put this Multi TimeFrame Parabolic SAR indicator on the chart it will automatically use Parabolic SAR from next available 3 timeframes. Green arrow will show the beginning of Up trend and Red arrow will show the beginning of Down trend. If AlertsEnabled = true, the indicator will show the Alert (message window) with a text like this: "Price going Down on ", Symbol(), " - ", Period(), " min", " price = ", Bid; If eMailEnabled = true the Indicator will send you an eMail with the same text
50 USD
GBP
rajeh shili
GBP currency bar chart (HLC) in a separate window with Long and short term regression channel to easily detect the strength or the weakness of the currency. For GBPUSD : it is very easy to see the direction of the pair, if used in conjunction with US Dollar and VSA volume indicators. For EURGBP : it is very easy to see the direction of the pair, if used in conjunction with EURO and  VSA volume indicators. For GBPJPY : it is very easy to see the direction of the pair, if used in conjunction with
20 USD
ACeVectorBands2016OnChart
Alberto Cejudo
Background : Indicator On Chart based on my own oscillator ACe_Vector2016. As you can appreciate, this indicator draws two bands on the chart in order to identify long and short opportunities. When the momentum vector oscillator (ACe_Vector2016) crosses the zero line, the indicator On Chart draws a long/short signal (green/red arrow). Also you can identify the trend line on chart (MA): green colour if trend is moving up, and red colour if trend is moving down. This indicator draw up and down non
10 USD
VolumeWPR
Stanislav Korotky
The indicator calculates WPR formula on volume-aware indicators  Accumulation/Distribution , OnBalance Volume , or Price Volume Trend . WPR range is moved into positive domain [0..1] for convenience. Parameters WPR - period of WPR, by default 24; Base - type of the underlying indicator: AccumulationDistribution (by default), OnBalanceVolume, or PriceVolumeTrend; Price - applied price type for OBV and PVT, by default - Close; it's ignored in case of AD; Screenshots On the screenshots below th
12.50 USD
SR lines 4
Anton Gorin
SR lines 4 indicator draws the support and resistance lines on a chart. The lines are drawn using maximums and minimums. They are detected using intersections of two moving averages. The indicator has two input parameters: First MA Period and Second MA Period. They are used for specified the periods of the corresponding moving averages.
10 USD
MTF ADX with Histogram
Leonid Basis
Multi TimeFrame indicator MTF ADX with Histogram shows ADX indicator data from the TF by your choice. You may choose a TimeFrame equal or greater than current TF. Yellow line is representing a price trend from the upper TF. Green line is representing +DI from the upper TF. Red line is representing -DI from the upper TF. Green histogram is displaying an Up-trend. Red histogram is displaying a Down-trend.
30 USD
Angle Regression Line MT4
Vladimir Gotsulenko
The indicator allows determining the strength and direction of the trend precisely. The histogram displayed in a separate window shows changes of the slope of the regression line. A signal for entering a deal is crossing the zero line and/or a divergence. The indicator is also useful for wave analysis. Input Parameters: Period - period of calculation, 10 on default; Angle threshold - slope at which a flat is displayed, 6.0 on default (within the range from -6.0 to 6.0); Filter by volume - volume
10 USD
Extended Keltner Channel
Sergey Efimenko
This is an extended version of Keltner channel. You can use 21 types of Moving Average and 11 methods of calculating the indicator's center line. Moving Average types: Simple Moving Average, Exponential Moving Average, Wilder Exponential Moving Average, Linear Weighted Moving Average, Sine Weighted Moving Average, Triangular Moving Average, Least Square Moving Average (or EPMA, Linear Regression Line), Smoothed Moving Average, Hull Moving Average by Alan Hull, Zero-Lag Exponential Moving Average
30 USD
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Tim Eubanks
5542
Tim Eubanks 2018.03.22 11:45 
 

Indicator looks good, I will consider an upgrade to paid version

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Version 1.2 2018.05.22
- Bug Fix
Version 1.1 2017.07.12
- Improved graphical interface, more readable
- Added button to enable live update and pause
- Decreased default Bars loaded to improve performance
- Added arrows for possible BUY and SELL setups
- Removed unused calculation methods