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CPM Extended

The algorithm is based on the idea of the Currency Power Meter indicator. In this version, the number of displayed values is unlimited, its code is more compact and fast, values of the current bar can be obtained through indicator buffers.

What the indicator shows: a thin band and the upper number in front of the currency shows the relative strength index for the last N hours (N is set in the parameters in the variable 'Hours'), a wider band shows the daily index. The more currency pairs using this currency you specify in the input parameters (assuming that your broker provides quotes for the pairs), the more weighted the index will be (but be careful with pairs of "non-major" or exotic currencies, they can distort the overall picture). For example, if you specify only EURUSD, the relative index for Euro will be calculated only based on this pair, if you add EURGBP, then the Euro index will be calculated based on two pairs and a more weighted value will be obtained.

How to use the data: the lower/higher the index value, the more likely a technical correction or trend continuation is, in the absence of important news.

МetaТrader 5 version: https://www.mql5.com/en/market/product/5891

2017.01.11 06:26 

Very useful to monitor several currencies. Thanks.

Maksym Mudrakov
2016.08.30 19:40 

User didn't leave any comment to the rating

Daria Angkadiredja
2016.03.01 17:31 

Thank you! just download it and checked it, I think this product is the best among other same products!

2016.02.09 22:07 

Отличный индикатор! Спасибо за бесплатную версию!

2015.09.09 21:56 

nice, ty.

Pavel Korotaev
2015.06.26 02:23 

Прекрасный индикатор!

Пять баллов.


2015.04.03 22:33 

Works fine. Thanks !

Александр Настюхин
2015.03.28 14:53 

Очень полезный индикатор,спасибо за работу.

Aliaksandr Kryvanos
2014.10.19 23:07 

Ещё бы код глянуть :)

2014.10.10 09:46 

User didn't leave any comment to the rating

Ramil Minniakhmetov
2014.10.09 22:39 

User didn't leave any comment to the rating

Igor Semyonov
2014.09.04 17:30 

Отличная штука, спасибо!/It's brilliant, thanks!

Version 1.3 - 2015.12.16
Added the ability to shift indicator data by coordinate axes to any convenient place on the screen:
ShiftX - shift left/right
ShiftY - shift up/down
Version 1.2 - 2015.04.01
Added PairPreffix currency prefix parameter. Leave it blank for symbols without additional characters. Example of using with EURUSD.e:
Version 1.1 - 2015.01.30
Added the second method for calculating the daily currency power.
UseDayRangeCalculation=false - accumulative
UseDayRangeCalculation=true - range