Currency Power Index MT5

Currency Power Index MT5 — All 8 Currencies in One Window

Currency Power Index MT5 calculates and displays the relative strength of 8 major currencies (EUR, USD, GBP, JPY, CHF, AUD, NZD, CAD) by analyzing all 28 cross pairs simultaneously. See at a glance which currency is strengthening and which is weakening right on your chart.

Key Features

• 28 Forex Pairs Analyzed — Every possible combination of the 8 major currencies.
• Two Reference Modes:
  • Period Mode — Strength relative to N bars back (dynamic, follows price).
  • Start Date Mode — Strength relative to a fixed date (ideal for session or weekly analysis).
• Currency Display Toggle — On-chart button to instantly switch between viewing all 8 currencies or only the two belonging to the current symbol.
• MA Smoothing — Optional Moving Average filter (SMA, EMA, SMMA, LWMA) with adjustable period to reduce noise.
• Auto Suffix Detection — Works with any broker, automatically detects symbol suffixes (e.g. EURUSD.m, EURUSDpro).
• Sorted Labels — Real-time overlay showing all currencies ranked by strength with percentage values.
• Optimized Performance — Bulk data loading (single CopyClose per pair), minimal CPU impact even on M1.
• Works on all timeframes from M1 to MN.
• No DLL required.

Parameters

Main Settings:

• Reference Mode — Period (N bars back) or Start Date (fixed point in time).
• Lookback Period — Number of bars for comparison (default: 10). Used in Period mode.
• Start Date — Fixed reference date. Used in Start Date mode.
• Show Only Chart Currencies — Toggle to limit the displayed lines to the current symbol's currencies.
• Symbol Suffix — Leave empty for auto-detection, or set manually (e.g. ".m", "pro").
• Show Labels — Enable or disable the ranked currency labels on the chart.

MA Smoothing:

• MA Period — 0 = no smoothing (raw values), any value > 1 applies the selected MA.
• MA Method — SMA, EMA, SMMA or LWMA.

How It Works

For each bar, the indicator computes the percentage change of every currency relative to the reference point. Each currency participates in exactly 7 pairs out of the 28. The final strength value is the average across all valid pairs. Positive values indicate appreciation, negative indicate depreciation.

Interpretation & Chart Analysis

• Relative Strength Display — Allows visual comparison between currencies that are outperforming or underperforming relative to the selected reference point.
• Divergence & Convergence Visualization — Helps traders identify when currencies are moving apart or converging on the chart.
• Session & Multi-timeframe Analysis — Enables tracking of currency movements relative to a fixed start date or across different chart timeframes.

Color Scheme

EUR (Blue), USD (Black), GBP (Red), JPY (Orange), CHF (DarkOrchid), AUD (Magenta), NZD (LimeGreen), CAD (Chocolate).

Requirements

• MetaTrader 5 platform.
• Broker providing standard 28 Forex pairs (unavailable pairs are automatically skipped).

Recommended Settings

• Scalping / Intraday: Period 5–10, Timeframe M15–H1, MA 0 (no smoothing).
• Swing Trading: Period 10–20, Timeframe H4–D1, MA 3–5 (SMA or EMA).
• Session Strength: Start Date mode set to today's session open.

For technical questions or further information, please contact me via my MQL5 Profile.