Currency Strength MT5 Trading Capital P

Currency Strength measures each of the 8 major currencies against the other seven and shows, at a glance, which one is strong, which one is weak and which pair puts them face to face.

How strength is measured

  • USD, EUR, GBP, JPY, CHF, CAD, AUD and NZD, calculated from the 28 pairs between them
  • Each currency is the average change of its 7 pairs over the last N bars (20 by default): + when it is the base currency, - when it is the quote
  • Two units: change in % (classic) or change in ATRs of each pair (volatility adjusted, so JPY and CHF pairs weigh the same as the others)
  • Closed bars never change; only the live bar moves with the market
  • The engine is unit tested (60 checks) and the live values are checked against an independent calculation

On the chart

  • Eight coloured lines in a separate window with a code label at the end of each line
  • The two currencies of the chart symbol are drawn thicker, so you see your pair at once
  • Lines on the chart timeframe or on a higher timeframe of your choice

Panel

  • Ranking from the strongest to the weakest currency with its value
  • Strongest vs weakest currency on four timeframes (M15, H1, H4, D1 by default) with the gap between them
  • The available pair with the biggest strength gap, with its direction (buy / sell)
  • The bias of the chart symbol: strength of its two currencies and the difference
  • Number of pairs found at your broker

Alerts and automation

  • On closed bars: new strongest or weakest currency, strength gap above your level
  • Pop-up, push notification and e-mail
  • Eight buffers (one per currency) for Expert Advisors

Works with your broker

  • Symbol names with a prefix or suffix (EURUSD.r, EURUSDm, fxEURUSD...) are found automatically, or set them by hand
  • Missing pairs are skipped and reported, the strength uses the pairs that exist
  • Movable, minimisable panel; every object is removed with the indicator

Inputs

  • Calculation: timeframe of the lines, change over N bars, unit (% or ATRs), ATR length, bars drawn
  • Broker symbols: prefix, suffix (empty = automatic)
  • Lines: one colour per currency, width, thick lines for the chart symbol, labels
  • Panel: show, corner, distance, four timeframes
  • Alerts: new strongest / weakest, gap level, pop-up, push, e-mail

Strength shows what has happened over the chosen bars; it is a reading of the market, not a signal or a promise of future moves.

Part of the Trading Capital P family. Free tools: Candle Timer Sessions, Position Size Calculator, Fair Value Gaps, VWAP Bands, Key Levels, Account Dashboard, Volatility Meter and Chart Drawing Toolkit. Paid tools: Trade Manager MT5, Market Structure MT5, Prop Firm Guardian MT5 and Currency Strength MT5.

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