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Re: Various (Specialist) indicators for MT4

naluvs01, Thu Feb 24, 2022 5:46 am

Hi Mr Tools and Coders receptively,

I found this indicator multi currency indicator that reveals the strength of each currency based on percentage change. All currencies start at zero sum from the beginning of the timeframe you select and as the momentum increases/decreases, you can see where the high probably trade setups are. The coder name is Rafei and here’s his formula and explanation:

I have created a new indicator which shows the strength of each (individual) currency based on change percentage. Change percentage of each currency at any time (in a day) according to the open price of the day is calculated according to the following formula:

(the formula is edited)
for ( j = each pair of currency )
currency = currency + ( iClose( Pair[j] , Period() , i ) - iOpen( Pair[j] , PERIOD_D1 , dayCount ) ) / iOpen( Pair[j] , PERIOD_D1 , dayCount ) * 100;

I wanted to know if we had anything similar (or that can be easily created) that has alerts on crosses and a unique ID. Because when using multiple instances, the lines and data become obscured (for the StrengthDaily201 version).
Thanks in advance for any advance and response!
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