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PipTick Currency Strength Indicator MT5

Knowledge of the strength and weakness of each currency is vital for every forex trader. Our currency strength indicator measures strength of eight major currencies (USD, EUR, GBP, CHF, JPY, CAD, AUD, NZD) by using Relative Strength Index indicator, also known as RSI. PipTick Currency Strength Indicator shows you in a simple and quick way, when a currency is oversold, overbought or in "normal area". In this way, you can simply identify, which currency is the strongest and which is the weakest.

The indicator is calculated from 28 currency pairs and works on every MT platform. PipTick CSI uses only 7 currency pairs for calculation of the rest of 21 pairs. For correct working of the indicator you need only these seven pairs in your MT platform: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, USDCHF and USDCAD.

Note: If the indicator is used in Strategy Tester, data of all pairs have to be downloaded in History Center before (How-to). If it is added to the chart as usual, no downloads are needed.

Interpretation of the indicator

Because PipTick CSI is based on the RSI, its interpretation is very simple. There are three areas
  • Oversold area (the value of CSI is 0 - 30)
  • Normal zone area (the value of CSI is 30 - 70)
  • Overbought area (the value of CSI is 70 - 100)

How to you use it?

There are two basic approaches how to trade currency strength and weakness:

  • Buy strong currency and sell weak currency - Trend Following strategy. For example, if you see the EUR is strengthening and AUD is weakening, buy EURAUD currency pair. Do not trade if one of currencies is overbought/oversold.
  • Sell strong currency and buy weak currency - Counter Trend strategy. For example, if USD is overbought (above the level of 70) and JPY is oversold (under the level of 30), sell USDJPY.

You can achieve great results if you use overbought/oversold concept of currency in conjunction with Price Action or Candlestick patterns. All you have to do is wait for overbought/oversold of one currency, followed by drawing candlestick pattern like hammer or shooting star. Of course, this is just one of thousands of possible ways of using of our currency strength indicator.

You can use this indicator for long-term, swing, intraday or even scalp trading.

It is possible to use PipTick CSI for manual backtest as well. All you have to do is set parameter "Bars_Ago = 0" in indicator settings and download historical data for seven currency pairs which our indicator needs to calculate.

Main features

  • The indicator shows strength and weakness of eight major currencies
  • Simple comparison of one currency against another
  • Overbought and oversold area for entering or exiting the trades
  • Works on every timeframe
  • The indicator is non-repainting
  • Ready for backtesting
  • Customizable parameters
  • Excellent results in conjunction with PA and Candlestick patterns
  • Ideal tool for scalping
  • Very fast calculation
  • Indicator works with prefix and suffix of symbols as well
  • Available for MT4 and MT5


  • Bars_Ago - Number of bars displayed by the indicator
  • RSI_Period - Period for RSI calculation
  • Weighted_Mode - Allows to choose between weighted or unweighted calculation
  • Smoothed_Mode - Allows to choose between raw or smoothed curve
  • Smoothed_Method - Allows to choose from for type of smoothing
  • Smoothed_Period - Period of smoothing calculation
  • Text_Size - Text size of labels
  • Line_Thickness - Thickness of lines
  • Weight_USD...NZD - USD...NZD weight coefficient
  • Visibility_USD...NZD - USD...NZD visibility
  • Color_USD...NZD - Color of USD...NZD curve and label


  • USD...NZD - Value of USD...NZD CSI

For more information, visit the PipTick Currency Strength Indicator.

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99% of indicators are based on price analysis. This indicator is based on volume. Volume is underestimated piece of information in most trading system. And this is a big mistake since volume gives important information about market participants. Normalized Volume is an indicator to confirm reversal points. You could enhance dramatically your trading system using Volume analysis. This is what most professional traders do. Inputs of the indicator are followings: MaxBars: number of bars in the char
97 USD
Turning Point Detector MT5
Young Ho Seo
The trajectories of Financial Market movement are very much like the polynomial curvatures with the presence of random fluctuations. It is quite common to read that scientist can decompose the financial data into many different cyclic components. If or any if the financial market possess at least one cycle, then the turning point must be present for that financial market data. With this assumption, most of financial market data should possesses the multiple of turning points because they consist
80 USD
An indicator that depends on liquidity and moving average > which give u the 98% of correct decision buy and sell. and the time to close the trade. PRICE will increase from time to time > and when the first EA will launch depend on this indicator will be more than 2k. 1-when to open buy or sell positions (depend on the cross of two lines X and points calculations depend on the Frame selected) (the cross should be outside the colored area) the candle must touch the cross during or(First or second
320 USD
Naked Forex Big Shadow for MT5
Renaud Candel
Big Shadow Indicator is a pattern recognition indicator for Forex and Binary Options. The Big Shadow is an enhanced pattern of the popular engulfing candle. The Big Shadow pattern is very effective and is very simple to trade. The strategy that comes with the Big Shadow is purely based on price action. Inputs of the indicator are : Distance: distance in pixel relative to top or bottom of candle to display the arrow symbol UseAlerts (true/false): to enable alerts PopAlerts (true/false): to enable
147 USD
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Version 5.1 2017.02.01
Added Constant Mode (allows set USD as a constant)
Version 4.0 2015.07.22
More accurate data loading
Added weighted mode
Added smoothed mode
Faster calculation
Changed the way of displaying labels
Improved reliability