MTF Currency Strength Lines Alert
MTF Currency Strength Lines Alert is a multi-timeframe currency strength indicator for MetaTrader 5. It plots currency strength lines for the eight major currencies: EUR, USD, GBP, JPY, AUD, NZD, CAD, and CHF.
The indicator uses averaged percentage movement from the 28 major FX crosses to create a clean strength view in a separate indicator window. It is designed to help traders compare currency strength, monitor base-versus-quote movement, and receive alerts when the chart pair's base and quote strength lines cross.
Key features:
- Multi-timeframe currency strength calculation
- Eight major currency lines: EUR, USD, GBP, JPY, AUD, NZD, CAD, CHF
- Right-side currency labels on the chart
- Optional chart-pair-only display for cleaner charts
- Optimized chart-pair calculation mode for running on many charts
- Base and quote strength cross alerts
- Popup, push notification, email, and sound alert options
- Broker symbol prefix and suffix support
- Adjustable lookback, smoothing, and maximum bars to calculate
- Self-contained indicator with no external dependencies
Speed-focused default mode:
By default, the indicator is set to show and calculate only the current chart's base and quote currencies. This is useful for traders who want to load the indicator on many FX charts at the same time while keeping the platform responsive.
Example:
On AUDUSD, the default chart-only mode focuses on AUD and USD strength. Users can turn off chart-only mode if they want to display all eight currency lines.
v1.5
- Added main-chart strength cross signal dots for the chart base and quote currencies.
- Added two selectable signal modes:
- Any chart-currency strength-line cross.
- First opposite zero-line entry when one chart currency is above zero and the other is below zero.
- Added alerts for the selected chart-currency signal mode.
- Added customizable cross dot colors, size, symbol, offset, initial scan depth, and maximum signal dots kept on chart.
- Kept the signal dot layer bounded for multi-chart use.
v1.5 usage note:
- Cross dots are generally more useful when currency strength is read from a higher timeframe than the execution chart, such as H4 strength on M5, D1 strength on H1, or W1 strength on H4.
- Lower and execution-matched strength timeframes can react faster, but they can also produce noisier cross behavior.
- Traders can choose Any Cross mode to see when one chart currency begins outstrengthening the other.
- Opposite Zero-Line Sides mode is the more selective option because it waits for one chart currency to be above zero while the other is below zero, which can provide a clearer strength bias.
Important:
This indicator is a visual analysis and alert tool only. It does not open, manage, or close trades. It does not guarantee future market direction or trading results. Always test settings on a demo account first and use proper risk management.
