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)
• 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
• Symbol Suffix — leave empty for auto-detection, or set manually (e.g. ".m", "pro")
• Show Labels — enable/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 — depreciation.

How to Use

• Buy the strongest, sell the weakest — find the pair where one currency is at the top and the other at the bottom
• Divergence detection — when two currencies diverge, it signals a strong trending opportunity
• Convergence = mean reversion — when two currencies converge, consider range trading
• Session analysis — use Start Date mode to see how currencies moved since the session open
• Multi-timeframe confirmation — check strength alignment across H1, H4, D1

Color Scheme

• EUR — Magenta
• GBP — Black
• USD — Blue
• JPY — Orange
• CHF — Purple
• CAD — Cyan
• AUD — Lime
• NZD — Brown

Requirements

• MetaTrader 5
• Broker that provides the standard 28 Forex pairs (most brokers do)
• Pairs that are unavailable at your broker are automatically skipped — the indicator adapts

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

Links:

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