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Relative Pairs Correlation MT5

The indicator shows the relative correlation of 7 major currency pairs for the selected period. The value of each pair is calculated independently from the others and is compared to the extremums of the selected period. Averaging (4 types) is used for filtering the indicator values. For the reversal of the values of the inverse ratio pairs, for example when comparing the movements of EURUSD and USDCHF, the indicator uses the corresponding parameters for each pair (Revers calculation mode). To control the "gaps" in the charts of the analyzed pairs the indicator uses an additional buffer.

Alternative variants of calculation of the strength of the currencies:  Currency Power Meter Linear Currency power correlation MACD Real Currency Power Meter Linear


Parameters

  • Histogram mode - histogram display mode (only the difference between the currencies of the current chart is displayed)
  • Calculation period - correlation calculation period
  • Max bars - limitation of the bar calculation length on history
  • Smoothing period - averaging period
  • Smoothing method - averaging method
  • Histo mode sub smoothing period - smoothing period for the histogram mode
  • Histo mode sub smoothing method - smoothing method for the histogram mode
  • Show symbol labels - enable the display of the text labels of the analyzed currencies
  • Labels size - label font size
  • Ratio first symbol1-Ratio first symbol7 - a part of names of the currency pairs
  • Revers calculation mode1-Revers calculation mode7 - indicates that the currency is in second place (for example, USDJPY)
  • Ratio second symbol name - the name of the second currency
  • Pair name additional string - additional prefix in the names of the currency pairs, if necessary, for example: "EURUSD.m" set the value ".m"
  • Show warning comments - display warnings in the comments
  • Show holes count in comments - display the information on the presence of the chart "gaps" in the comments.


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