Alpha Currency Strength Pro

Alpha Currency Strength Pro measures the relative strength of the eight major currencies (USD, EUR, GBP, JPY, AUD, NZD, CAD, CHF) in real time and shows it in a compact dashboard on the main chart. You can see which currencies are being bought, which are being sold, and which pair combines the strongest and the weakest currency.

How it works

For every available cross pair, the indicator measures momentum (RSI) and price action (position of the close inside the recent high-low range). Each pair adds strength to its base currency and removes the same amount from its quote currency. The values are averaged over all pairs of each currency, scaled from -100 to +100 and smoothed with an EMA. Three methods are available: RSI, Price Action and Hybrid (default).

Non-repainting

Closed bars are calculated once and never change. When a higher calculation timeframe is selected (for example H4 on an H1 chart), each chart bar receives the value of the last fully closed higher-timeframe bar. The current bar is updated in real time; this can be disabled to work with closed bars only.

Dashboard

• Currencies ranked from strongest to weakest, with value and momentum arrow
• Strength history chart with the strongest and weakest currency highlighted
• Suggested pair (strongest against weakest), shown with your broker's symbol name
• Four corner positions, three sizes, dark and light themes, adjustable opacity
• Adapts to the chart height and to the screen DPI; click the header to collapse it
• 10 languages: English, Portuguese, Spanish, German, French, Italian, Russian, Turkish, Chinese and Japanese

Exotic currencies and metals

Up to four extra currencies can be added, for example MXN, ZAR, TRY, SEK, NOK, SGD or XAU. The indicator finds the available symbols automatically, including broker prefixes and suffixes such as EURUSD.m or EURUSDpro. Pairs with extra currencies have an adjustable weight, so they do not distort the strength of the major currencies.

Alerts

Optional popup, push and e-mail alerts when the strength gap between the strongest and the weakest currency exceeds a level you choose. Alerts are checked on closed bars only.

For Expert Advisors

Twelve buffers contain the strength of each currency, in the order of the currency inputs. They are visible in the Data Window and can be read with iCustom.

Main inputs

• Method, calculation timeframe, RSI and Price Action periods, EMA smoothing, live bar on/off
• Major and extra currencies, symbol prefix and suffix, weight of extra pairs, minimum pairs per currency
• Corner, offsets, size, theme, language, opacity, sorting and history chart
• Color of each currency and alert settings

Notes

• Your broker must offer the cross pairs of the currencies you want to analyze. On the first start, the terminal downloads their history, which takes a few seconds.
• In the Strategy Tester, use visual mode to see the dashboard.
• The indicator does not open or manage trades. It is an analysis tool.