Coensio USD Strength Indicator (CUSIV01)
Info
The Coensio USD Strength Indicator (CUSIV01) is a Indicator for MetaTrader 4 that coensio usd strength indicator (cusiv01) measures the momentary usd strength, using combined data from the following four usd pairs: eurusd, gbpusd, audusd, and usdjpy. The USD momentary strength of each pair is determined by measuring the distance (in pips) of each closed candle with respect to the exponential moving average line.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Coensio USD Strength Indicator (CUSIV01)
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
Coensio USD Strength Indicator (CUSIV01) measures the momentary USD strength, using combined data from the following four USD pairs: EURUSD, GBPUSD, AUDUSD, and USDJPY.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: absolute strength indicator suite - another powerful indicator for MetaTrader 4 traders.
Coensio USD Strength Indicator (CUSIV01) measures the momentary USD strength, using combined data from the following four USD pairs: EURUSD, GBPUSD, AUDUSD, and USDJPY.Also recommended: at r strength index - similar indicator with strong performance on MetaTrader 4.
The USD momentary strength of each pair is determined by measuring the distance (in pips) of each closed candle with respect to the exponential moving average line.
Example: \u2206EURUSD = (close[n]-ema50[n]) / pipvalue.
The combined USD currency strength can be simply expressed by:
USD
Strength
= (-ΔEURUSD-ΔGBPUSD-ΔAUDUSD+ΔUSDJPY)/4
Notes: Load the indicator on any chart, any time frame. Set "EMASIZE" to the desired value (EMA value is used as a reference point of relative USD strength). Note that on a USDJPY chart, the indicator will display the strength of the USD currency, so the histogram will be displayed in the opposite direction.
Input Parameters:
EMASIZE - Period for calculation of the indicator.
You may also like: Figurelli RSI: Enhanced Relative Strength Index for Trend Detection - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
#property indicator_buffers 6
#property indicator_color1 purple
#property indicator_color2 royalblue
#property indicator_color3 yellow
#property indicator_color4 lightblue
#property indicator_color5 lime
#property indicator_color6 red.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.