Infinite Currency Strength Meter All Pairs MT5
- Indicators
- Emir Revolledo
- Version: 2.0
- Updated: 7 April 2022
- Activations: 10
Think of the rarest pair you can think of. And I assure you that this indicator can compute it is strength.
This Currency Meter will literally calculate any currency pairs, either it is a major pair, metal, CFD, commodity, cryptocurrency like Bitcoin/BTC or Ethereum/ETH and even stocks. Just name it and you will get it! There is no currency pair this Currency Meter cannot solve. No matter how rare or exotic is that currency, it will always be solved by this Currency meter on a real-time basis. Sounds good, right? Check it out and backtest it, because I really mean it.
All you need to do is name four currencies and let the currency meter do all the calculations. This currency meter also has a very useful specification: just name the currency you want and the meter will scan all the pairs on your MetaTrader 4 and look for the best pair that will fit your currency and all of this is on a real-time basis.
If the currency you named is strong, the currency meter will simply scan all your pairs and look for the weakest currency that could be traded on your currency of choice. And if your Currency is weak, the indicator will scan all your pairs to look for the strongest pair that can be traded with your currency of choice! You can refer to the screenshots below.
So, this is how to use it:
- TIME_FRAME - Strength Meter works in all timeframes! Just choose timeframe from M1 to MN. *Note: choosing "current" means you choose your current timeframe on your chart.
- PERIOD - input number of candles you want to choose. *Note: Period "0" means choosing the current candle.
- First_Currency - name the 1st currency you want to get the strength (case-sensitive).
- Second_Currency - name the 2nd currency you want to get the strength (case-sensitive).
- Third_Currency - name the 3rd currency you want to get the strength (case-sensitive).
- Fourth_Currency - name the 4th currency you want to get the strength (case-sensitive).
- First_COLOR - color of the 1st currency.
- Second_COLOR - color of the 2nd currency.
- Third_COLOR - color of the 3rd currency.
- Fourth_COLOR - color of the 4th currency.
- Font_1 - font of objects on the right side of the chart.
- Font_2 - font of objects on the left side of the chart.
- ALERT
- Alert_PAIR - activate alert if there are two currencies going in different directions meaning one is strong, the other one is weak. This would mean that one currency is above 70% and the other one is below 30%.
- Alert_CURRENCY - activate alert if there is one currency that is strong or weak. Meaning, either it is higher than 70% or lower than 30%.
- ALERT_OFF - choose if you do not want alerts.
- Sound_Alert__1 - choose sound alert when a currency is above 70% (ALERT_LEVEL_1_STRONG) or below 30% (ALERT_LEVEL_1_WEAK).
- Sound_Alert_2 - choose sound alert when a currency is above 90% (ALERT_LEVEL_2_STRONG) or below 10% (ALERT_LEVEL_2_WEAK).
- ALERT_WHEN_STRONG
- ALERT_LEVEL_1_STRONG - first level where the currency is getting strong. This should be lower than ALERT_LEVEL_2_STRONG. By default, its value is 70.
- ALERT_LEVEL_2_STRONG - second level where the currency is getting extremely strong. This should be higher than ALERT_LEVEL_1_STRONG. You will hear a different sound alert here which can be edited on Sound_Alert_1. By default, its value is 90.
- ALERT_WHEN_WEAK
- ALERT_LEVEL_1_WEAK - first level where the currency is getting weak. This should be higher than ALERT_LEVEL_2_WEAK. By default, its value is 30.
- ALERT_LEVEL_2_WEAK - second level where the currency is getting weak. This should be lower than ALERT_LEVEL_1_WEAK. By default, its value is 30.
*NOTE: This is for MetaTrader 5 and the counterpart of my product "All Currency Meter".
Link to the product: https://www.mql5.com/en/market/product/25026
Excellent Tool. I use it like a dashboard with all markets inclusive.