CPM Extended MT5

4.5

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.

Reviews 11
oaskari
14
oaskari 2023.04.09 11:19 
 

This is what I was looking for. Thank you for sharing.

apcruz01
180
apcruz01 2022.05.06 16:40 
 

Interesante hay pocos indicadores de fuerza para Mt5 solo que debería poder colocar temporalidades menos a una hora. gracias por el aporte

Alexandre Coutinho
18
Alexandre Coutinho 2025.02.15 22:49 
 

Muito bom, reuni informações preciosas.

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Alexandre Coutinho
18
Alexandre Coutinho 2025.02.15 22:49 
 

Muito bom, reuni informações preciosas.

Sutatong
398
Sutatong 2023.04.14 15:28 
 

User didn't leave any comment to the rating

oaskari
14
oaskari 2023.04.09 11:19 
 

This is what I was looking for. Thank you for sharing.

Troy
56
Troy 2022.10.13 14:46 
 

Превосходный индикатор. Не хватает только алерта/пуша на телефон о смене тенденции, когда один индекс силы валюты по индикатору становится выше/ниже другой.

apcruz01
180
apcruz01 2022.05.06 16:40 
 

Interesante hay pocos indicadores de fuerza para Mt5 solo que debería poder colocar temporalidades menos a una hora. gracias por el aporte

[Deleted] 2019.01.14 07:13 
 

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sunnychow
9043
sunnychow 2019.01.12 16:57 
 

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Gennadiy Voltornist 2017.12.24 19:16 
 

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Daniel Andrejczuk 2017.11.09 14:10 
 

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Nork 2016.12.21 07:31 
 

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Rodrigo da Silva Boa
7137
Rodrigo da Silva Boa 2016.01.09 13:27 
 

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