Currency Strength Matrix

[Enivid]

Discuss Currency Strength Matrix indicator in this thread. Th is multi-timeframe and multi-currency indicator measure total strength of a given currency based on several currency pairs. It is a free indicator for MT4 and MT5 platforms. You can ask any questions about this indicator here.

 

[Enivid]

Version 1.04 released with multiple improvements for the Currency Strength Matrix.

 

[4tunembassy]

What other best indicator that can be used with this currency strength matrix? I mean for confirmation

 

[Enivid]

What other best indicator that can be used with this currency strength matrix? I mean for confirmation

Sentiment.

 

[4tunembassy]

Sentiment.

Please assist me with the link. Thanks

 

[Enivid]

Please assist me with the link. Thanks

https://www.earnforex.com/guides/how-to-measure-retail-forex-market-sentiment/

 

[Enivid]

Version 1.05 of the Currency Strength Matrix indicator released to fix some serious bugs. It's recommended to update.

 

[Jaynaire]

Thanks for this useful indicator.

Pls what's the meaning of the accelerator colors - pale green and yellow?

 

[Enivid]

Thanks for this useful indicator.

Pls what's the meaning of the accelerator colors - pale green and yellow?

Could you please show a screenshot of what you are asking about?

 

[Jaynaire]

Could you please show a screenshot of what you are asking about?

I mean the pale green and yellow colors. What do they signify?

 

[Enivid]

I mean the pale green and yellow colors. What do they signify?

Sorry! Now I see what you are asking about.
Pale green = Positive value but falling.
Yellow = Negative value but rising.

 

[oliveiratrading]

Version 1.05 of the Currency Strength Matrix indicator released to fix some serious bugs. It's recommended to update.

very useful indicator within my setup, in the mt5 version it does not have the MA DIFFERENCE option that it has in mt4. Would an update with this option be possible for mt5?

 

[Charlotte_Nguyen]

Why can't I spot this indicator in my MT5? It's not available?

 

[Enivid]

Why can't I spot this indicator in my MT5? It's not available?

Have you installed it?

 

[teunnatrejoddei14]

I am looking for MT5 too

 

[Enivid]

A big update for Currency Strength Matrix in its version 1.06:

• Added RSI and Stochastic methods for currency strength calculation.
• Added MA smoothing option to the MT5 version of the indicator. (@oliveiratrading)
• Added indicator buffers to enable using the Currency Strength Matrix output values in other indicators and expert advisors.
• Fixed some delays with chart objects in MT5.
• Improved input parameter descriptions.

 

[oomeysh]

I have set my currency metre to the m15 and H1 time frame but I see they the colour and pair change very very rapidly very fast up and down up and down but so how I can figure this out that which currency is stronger at which currency is weak for my h1 tf because the colours fluctuate very fast up and down, so it ges difficult to choose the right pair, ho to fixthis.

 

[Enivid]

View attachment 37211


I have set my currency metre to the m15 and H1 time frame but I see they the colour and pair change very very rapidly very fast up and down up and down but so how I can figure this out that which currency is stronger at which currency is weak for my h1 tf because the colours fluctuate very fast up and down, so it ges difficult to choose the right pair, ho to fixthis.

The simples way to avoid fast re-sorting of the table is to set the 'Sort Strength by' parameter to MN1 in your case.
You can also increase the 'Bars Of Difference Between Calculation Values' from 1 to 2 or 3 - this will reduce the noise.

 

[oomeysh]

The simples way to avoid fast re-sorting of the table is to set the 'Sort Strength by' parameter to MN1 in your case.
You can also increase the 'Bars Of Difference Between Calculation Values' from 1 to 2 or 3 - this will reduce the noise.

i understood , instead of making it to the MN1, I can make it to the daily I hope that daily will also filter out the noise well, as i trade only at h1 and m15,

and as you have described about the "You can also increase the 'Bars Of Difference Between Calculation Values' from 1 to 2 or 3 - this will reduce the noise." bars of difference can you please elaborate more on that

• Bars Of Difference: the distance in bars to compare the price/indicator changes.

 

[Enivid]

i understood , instead of making it to the MN1, I can make it to the daily I hope that daily will also filter out the noise well, as i trade only at h1 and m15,

and as you have described about the "You can also increase the 'Bars Of Difference Between Calculation Values' from 1 to 2 or 3 - this will reduce the noise." bars of difference can you please elaborate more on that

• Bars Of Difference: the distance in bars to compare the price/indicator changes.

If it's set to 1, it compares the current bar to the previous bar. If you set it to 3 (for example), it will compare the current bar to the value 3 bars ago.