Mattrix Basket Strength

Short Description

On-chart strength analysis for synthetic currency baskets.
Shows pair breakdown, coherence, pip sum and signal label directly on basket charts.

Full Description

Mattrix Basket Strength is an on-chart indicator designed for synthetic currency basket charts.
It displays real-time strength analysis directly on the chart of any of the 8 major currency baskets
(EUR, GBP, AUD, NZD, USD, CAD, CHF, JPY).

What it shows

When attached to a basket chart such as #USD, the indicator breaks down the basket into its 7 component pairs.
Each pair shows its current pip change and direction for the active bar.
This reveals which pairs are driving the basket move and which ones are lagging or diverging.

The large pip sum at the top shows the total basket movement.
Below it, the coherence count indicates how many of the 7 pairs agree on direction.
The signal label translates this into a clear reading:

• STRONG means 6 or 7 pairs agree.
• EXTREME means strong coherence with high momentum. MIXED means partial agreement.
• CHOPPY means no clear direction.

How to read it

A basket showing STRONG with 7/7 coherence means all 7 pairs confirm the move.
This is a high-conviction signal.
When you see the strongest basket at STRONG and the weakest basket also at STRONG in the opposite direction,
the pair connecting them offers the cleanest setup of the day.

The pair breakdown panel shows exactly where the strength comes from.
If USD is weak at -400 pips but USDCHF shows +19, you know CHF is even weaker.
This level of detail is not visible from the basket chart alone.

Built-in chart refresh

Custom symbol charts in MT5 can show outdated candles, especially on lower timeframes.
This indicator includes an automatic refresh mechanism that keeps the chart candles up to date without Journal spam or performance issues.

Requirements

This indicator requires synthetic basket charts created by the Mattrix Basket Viewer EA (available separately on the MQL5 Market).
Attach it to any of the 8 basket charts: #EUR, #GBP, #AUD, #NZD, #USD, #CAD, #CHF, or #JPY.

Input parameters

• Broker suffix: Your broker symbol suffix if needed.
• Momentum lookback: Number of bars for momentum calculation (default 50).
• Momentum threshold: Pip threshold for STRONG signal (default 30).
• Momentum extreme threshold: Pip threshold for EXTREME signal (default 60).
• Panel X offset: Horizontal position from right edge.
• Panel Y offset: Vertical position from top.

Note

This indicator does not generate buy or sell signals.
It provides strength analysis to support your own trading decisions.
For best results, compare the strongest and weakest baskets and trade the pair that connects them.

Buy the strong. Sell the weak. Trade the best pair.

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