Multi-Currency Pair Strength Indicator
Info
The Multi-Currency Pair Strength Indicator is a Indicator for MetaTrader 4 that this indicator monitors major currency pairs to determine the status of the current candle (bullish or bearish) for usd, eur, and gbp in relation to other currencies like eur, jpy, gbp, chf, aud, and cad. For instance, if all boxes in the USD row are red, it signifies that the current USD candle is weak or bearish against all other major currencies.
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 Multi-Currency Pair Strength Indicator
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
This indicator monitors major currency pairs to determine the status of the current candle (bullish or bearish) for USD, EUR, and GBP in relation to other currencies like EUR, JPY, GBP, CHF, AUD, and CAD.
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: spread indicator for pair trading - another powerful indicator for MetaTrader 4 traders.
This indicator monitors major currency pairs to determine the status of the current candle (bullish or bearish) for USD, EUR, and GBP in relation to other currencies like EUR, JPY, GBP, CHF, AUD, and CAD.Also recommended: pair trading indicator: i k pair-tr - similar indicator with strong performance on MetaTrader 4.
For instance, if all boxes in the USD row are red, it signifies that the current USD candle is weak or bearish against all other major currencies. This analysis method can also be applied to GBP and EUR candles. The columns are interpreted in reverse.
For example, if all boxes in the CHF column are green, it indicates that CHF is bearish against EUR, GBP, and USD. The optimal use of this indicator is in conjunction with other tools such as moving averages, Bollinger Bands, and support/resistance levels.
Recommendations:
For a strong bullish EURUSD signal, wait until all boxes in the EUR row are green and all boxes in the USD row are red.
The indicator features two primary parameters:
historyshift: Setting this to 0 analyzes the current candle. For trading, it should remain at 0. To evaluate the indicator's past performance, adjust this value. For example, entering 10 will make the indicator look back 10 candles.
drawvline: This parameter draws a vertical line corresponding to the historyshift setting.
I welcome your feedback, suggestions for improvement, and collaboration to enhance this indicator. The indicator was last updated in 2026.
You may also like: all usd pair indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_separate_window
extern int historyshift=0;
extern bool drawvline=false;
int eurlong=0;
int usdlong=0;
int gbplong=0;
extern int scalex=30,// horizontal interval at which the squares are created
scaley=20, // vertical interval.......
⚠ 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.