MT5 Indicator TC-Currency Strength plus CFD

In the forex (foreign exchange) market, the relative strength or weakness of currencies is a very important factor; forex trading is the strength or weakness of a currency itself!
This is because the strength or weakness of a currency indicates whether the value of that currency is rising or falling relative to other currencies.
Forex trading is a profit-making activity in which you buy currency pairs that are relatively strong and sell currency pairs that are relatively weak.
Therefore, knowing the strength or weakness of a currency or currency pair is essential in forex trading.

This indicator allows you to see at a glance which currencies are strong and weak right now.

Besides, you can also check how strong or weak a currency is by displaying its strength or weakness in numerical values.

This indicator will become an indispensable trading aid for you in the near future.

First, let me explain the screen.

(1) Currency Pair Monitoring Targets
10 currencies including USD/JPY, Dow, NASDAQ, SP500, Nikkei, DAX, and Gold (Gold) are registered as currency pairs to be monitored.
*Registration can be changed, but some functions may not function due to hard-coded parts.

(ii) MAPO
If 4 hours, 1 hour and 15 minutes are available, a blue dot will be displayed if there is strong buying pressure, and a red dot if there is strong selling pressure.
The blue quatrefoil will be displayed when the currency is the strongest among them, and the red quatrefoil will be displayed when the currency is the weakest.

	Blue dot Buy
	Red Dot Sell
	Blue Four-Leaf Best Buy
	Red four leaves Strongest Seller

(3) Direction in 15M, 1H, 4H

Direction at 15m, 1h, and 4h is indicated by blue dots, red dots, blue quads, and red quads. ⓸ Correlation of currency pairs

A dot is displayed when the correlation of a currency pair is aligned. The correlation is based on the Pearson correlation coefficient.

What is Pearson correlation coefficient?

The Pearson correlation coefficient is a statistical measure used to quantify the relationship of prices between different currency pairs. The Pearson correlation coefficient takes values ranging from -1 to 1.

The correlation of a currency pair is indicated by a dot when the correlation coefficient (default is between 0.75 and 1 for buying and between -0.75 and -1 for selling) is met.
The correlation pairs for a currency pair are hard-coded by position in the following pairs

Yen pair of USDJPY(1), EURJPY(2), GBPJPY(3)
GBPJPY(3), GBPUSD(4), GBPAUD(6), EURGBP(10) in pounds
GBPUSD(4), EURUSD(5), AUDUSD(8), USDJPY(1) in US dollars
EURJPY(2), EURUSD(5), EURAUD(7), EURGBP(10)
Aussie pair of GBPAUD (6), EURAUD (7), AUDUSD (8), AUDJPY (9)
Dow (11), NASDAQ (12), SP500 (13)
Other pairs of Nikkei (14), Dax (15), Gold (16)
*Positions in parentheses

(5) Strength of currency pairs

The current volatility is based on the ADX value and is considered to be in a strong trend if the ADX value is above 25 by default and below 25 by default, indicating a weak trend.

What is ADX?

ADX (Average Directional Index) is one of the indicators of technical analysis and is used to indicate the strength or direction of a trend within a specific time frame. Currency volatility is an indicator of the degree and speed of price fluctuations.
ADX values are expressed on a range of 0 to 100. A higher value indicates higher trend strength, while a lower value indicates lower trend strength. Normally, an ADX of 25 or higher is considered a strong trend.

⑥ Currency Pair Volatility
Displays the volatility of the currency pair over the past 20 days/past 5 days/today.

(7) Currency Pair and Currency Strength
Displays the currency pair and currency strength in numerical form. For a currency pair, the left side is the candidate to buy and the right side is the candidate to sell.
For a currency, the left side is the currency that is being bought and the right side is the currency that is being sold. The larger or smaller the number, the more likely it is to be bought or sold.

8) Strength of 28 currency pairs
The strength of 28 currency pairs is quantified and displayed.
The currency pair on the left of the first row is the currency pair that is most bid right now.
The currency pair on the left of the second row is the currency pair that is most sold right now .

(ix) Strength of the monitored currency pairs in 4-hour, 1-hour and 15-minute time frames

The strength of the monitored currency pair is quantified and displayed on the 4-hour, 1-hour, and 15-minute time frames.

TC-Currency Strength plus CFD Example

Example of use 1: Sell or buy a currency pair that is MAPO
First, check the volatility of the currency pair today. If there is still enough volatility, there is a high probability that the pair will continue to move in that direction.
Then, we check the strength/weakness of the currency pair to see if there is a sufficient trend, and then we target the push of that currency pair.
Example 2: Buying and selling the strongest and weakest currency pairs on the watch list
Same as Example 1, but checking the resistance and support lines on the 1-hour chart or longer, the probability is high that the pair will extend to that point, so we will target that point.
Example 3: Sell and buy the strongest and weakest pairs of 28 currency pairs
If the currency pair you are monitoring is not moving well, you can target the strongest or weakest currency pair among the 28 currency pairs by looking at the chart.
Example 4: Reversal by looking at the fluctuation range of a currency pair
This will probably be traded during or after European hours, but if the daily fluctuation range is greater than that of the past 20 days and 5 days, there is a possibility of a reversal and we will aim for a reverse move. Check the strength and value of the currency pair and confirm that the value has weakened, and then reverse the price.
The fluctuation range may double or triple depending on the indicator, so be sure to confirm that the value has weakened.
Example 5: Confirming whether the price will rebound at the resistance and support lines on the one-hour or longer chart.
Draw resistance and support lines on the one-hour or longer chart. When they are reached, check the daily fluctuation range and confirm the strength or weakness of the currency pair in numerical values, and aim for a reversal if it appears to reverse.
Example 6: Correlated Currency Pairs
Currency pairs that are correlated tend to be very strong. There is a possibility to trade in that currency pair.

*What is described here is only an example of useand does not guarantee profit.

Do not trade with this indicator alone. Check the chart at the time of entry and use this indicator only as an auxiliary tool for trading.

Q & A

Q: What currency pairs does the indicator apply to?

A: Any currency pair can be used, but please apply it to the 5-minute EURUSD.

Q: Which vendor should I use?

A: The best is to use a firm that offers MT5 and can also trade CFDs, but you can use any firm that offers 28 currency pairs. Gaikai Finest and OANDA can display 28 currency pairs, andAvatrade Japancan display 28 currency pairs and CFDs.

As an internal process, information on the following 28 currency pairs is acquired and currency correlations are calculated.

This function is not available for FX firms that do not have these currencies.

"AUDCAD", "AUDCHF", "AUDJPY", "AUDNZD", "AUDUSD", "CADCHF", "CADJPY",.

"CHFJPY","EURAUD","EURCAD","EURCHF","EURGBP","EURJPY","EURNZD",

"EURUSD", "GBPAUD", "GBPCAD", "GBPCHF", "GBPJPY", "GBPNZD", "GBPUSD",

"NZDCAD", "NZDCHF", "NZDJPY", "NZDUSD", "USDCAD", "USDCHF", "USDJPY"

Q:The indicator is not displayed after it is applied.

A:If the indicator does not appear, try the following

Solution (1)

Right-click on the chart and select "Refresh. Solution(2)

Right-click on the chart, select "Template", and then click on "Save Template Chart".

Save the chart by specifying a file name.

Right-click on the chart and select "Template" to save the template.

Coping 3)
Initially, there may be insufficient candlesticks for display.
Open the EURUSD chart and set the time period settings to the following order with intervals in between.
Please switch the time leg.
MN -> W1 -> D1 -> H4 -> H1 -> M30 -> M15 -> M5

Q:How do I determine the value of a currency pair?

A:There is no specific number here , but please gain experience by actually using it .

Q: Is there a version for MT4?

A: This is only for MT5.

TC-Currency Strength plus CFD Parameters

Parameter Description:

--Indicator Setup--.

List of symbols (separated by ";"): Enter the currency pairs to monitor. Separate each currency pair with a semicolon.
Title: Set the title in the upper left corner of the screen.

Paraboric SAR Steps: Set the parabolic steps.

Paraboric SAR Maximun: Set the parabolic Maximun.

Time Frame used for Correlation: Sets the time frame used for correlation.

Correlation Level: Set the correlation coefficient value.

Correlation Level N: Set the negative correlation coefficient.

ADX Period: Sets the ADX period used for volatility.

ADX Main Level: Sets the level of volatility.

Time Frame used for Volarity: Sets the MA period used for volatility.

MA Period used for Currency Strength: Sets the MA period used for currency strength.

Time Frame used for Currency Strength: Sets the time frame used for currency strength and weakness.

ATR Period 1: Volatility over the past X days Default is 20 days

ATR Period 2: Volatility over the past X days defaults to 5 days.

--Display Setup-- ■Up Color

Up Color: Sets the color of the up condition.

Down Color: Sets the color of the downside.

Text Color: Sets the text color.

Dot Color: Sets the dot color.

Font Type: Sets the font size.

Dot Font Size: Sets the dot font size.

Font Type: Sets the font type.

--Currency Strength Display Setup--

Show Currency Strength: Sets whether to display the strength of currency pairs and currencies.
Show All Currency Strength: Sets whether to display the strength and weakness of 28 currency pairs.
Show 15MA, 1H MA, 4H MA data: Sets whether to display the strength and weakness of the currency pair in 15-minute, 1-hour, and 4-hour units.
Display type: Toggles between displaying the strength and weakness of the currency pair.
Horizontal position: Sets the X-axis of the currency's strength or weakness.
Vertical position: Sets the currency strength on the Y axis.
Vertical position: Sets the Y-axis for currency strength and weakness.CS plus Color: Sets the plus color of the currency pair's strength or weakness.
CS minus Color: Sets the minus color of the currency pair's strength/weakness.
Use Custom Chart Color: If you want to change the custom chart color, set this to True.
Update Frequency (seconds): Default is every 5 seconds.
Print Logs: Set the log output.
Enabling this setting will cause logs to be output to the expert log.

TC Currency Strength plus CFD for MT5