A Multi-Timeframe Currency Strength Meter from Pair Returns
Summary
The article describes an MQL5 dashboard that estimates the relative strength of major currencies from percentage changes across the pairs in which each currency appears. It computes changes over lookback windows on M15, H1, and H4, reverses the sign when the currency is quoted second, and averages the signed values into a per-currency score for each timeframe. A timer refreshes the readings and dashboard, while logs classify currencies as strong, weak, or neutral. The tool also plots account equity and drawdown.
The article explains implementation choices such as symbol selection, configurable lookbacks, update frequency, and dashboard interaction. Shorter lookbacks are described as more responsive but noisier, while longer ones are smoother but slower. It provides no backtest, signal rules, or evidence that the strength scores predict profitable trades; the meter is an analytical display whose usefulness depends on data availability and user interpretation.
Key ideas
- Currency strength is estimated by averaging signed percentage changes across pairs containing that currency.
- The sign is inverted when the measured currency is the quote currency in a pair.
- Separate lookback windows produce strength scores for M15, H1, and H4.
- Shorter lookbacks respond faster but can be noisier, while longer lookbacks respond more slowly.
- The dashboard visualizes strength alongside account equity and drawdown but does not establish predictive performance.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.