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Currency Strength Meter (CSM)

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  • First Post: Edited 6:21pm Sep 18, 2020 3:17pm | Edited 6:21pm
sharing my Currency Strength Meter (CSM) in case anyone interested to use it.

basically using the same calculation method as the oscillator which I've shared previously.

have fun.

Note : kindly check the required symbols to be available in the Market Watch. special attention to the XAUAUD, XAUEUR and XAUUSD. this strength meter does use gold to get its strength index. without it, it will cause an error. read several response below. just to clarify, I'm using IC Markets 5 digits ECN, this CSM does work without issue there..

edit : adding version without requiring any gold symbols for brokers without XAUAUD, XAUEUR and XAUUSD.

link to the oscillator : https://www.forexfactory.com/thread/...oscillator-cso?
Attached Images
Attached File(s)
File Type: mq4 me_Currency_Strength_Meter v2.mq4   31 KB | 1,918 downloads
File Type: ex4 me_Currency_Strength_Meter v2.ex4   30 KB | 1,213 downloads
File Type: mq4 me_Currency_Strength_Meter v2 (no gold).mq4   28 KB | 962 downloads
File Type: ex4 me_Currency_Strength_Meter v2 (no gold).ex4   27 KB | 737 downloads
Thank you qkcode but is shows like this:
Attached Image
Quoting Peretola
Thank you qkcode but is shows like this: {image}
can you check you have all the symbols required to be available in the Market Watch? of does your broker use pair name extension like GBPUSD.mic or something like that??
I have all symbols in the Market Watch and my broker don't use extensions or suffix. The problem remains the same. I reload the indicator in a new fresh chart but nothing changes, It shows the same image... Thanks anyway!
I noticed the same error, within your code you reference
Inserted Code
    //double XAUAUD_B  = ((MarketInfo ("XAUAUD" + PairName_Extension, MODE_BID) - MarketInfo ("XAUAUD" + PairName_Extension, MODE_LOW)) / (MarketInfo ("XAUAUD" + PairName_Extension, MODE_HIGH) - MarketInfo ("XAUAUD" + PairName_Extension, MODE_LOW)))*100;
    //double XAUEUR_B  = ((MarketInfo ("XAUEUR" + PairName_Extension, MODE_BID) - MarketInfo ("XAUEUR" + PairName_Extension, MODE_LOW)) / (MarketInfo ("XAUEUR" + PairName_Extension, MODE_HIGH) - MarketInfo ("XAUEUR" + PairName_Extension, MODE_LOW)))*100;
    //double XAUUSD_B  = ((MarketInfo ("XAUUSD" + PairName_Extension, MODE_BID) - MarketInfo ("XAUUSD" + PairName_Extension, MODE_LOW)) / (MarketInfo ("XAUUSD" + PairName_Extension, MODE_HIGH) - MarketInfo ("XAUUSD" + PairName_Extension, MODE_LOW)))*100;
This is where the code errors out as Peretola and I dont have these symbols in the market watch! Thank you for the upload.
Quoting SerbSerb
I noticed the same error, within your code you reference //double XAUAUD_B = ((MarketInfo ("XAUAUD" + PairName_Extension, MODE_BID) - MarketInfo ("XAUAUD" + PairName_Extension, MODE_LOW)) / (MarketInfo ("XAUAUD" + PairName_Extension, MODE_HIGH) - MarketInfo ("XAUAUD" + PairName_Extension, MODE_LOW)))*100; //double XAUEUR_B = ((MarketInfo ("XAUEUR" + PairName_Extension, MODE_BID) - MarketInfo ("XAUEUR" + PairName_Extension, MODE_LOW)) / (MarketInfo ("XAUEUR" + PairName_Extension, MODE_HIGH) - MarketInfo ("XAUEUR" + PairName_Extension, MODE_LOW)))*100;...
yepp.. this strength meter does use gold to calculate the strength value. that's why it requires those symbols...
Quoting qkcode
sharing my Currency Strength Meter (CSM) in case anyone interested to use it. basically using the same calculation method as the oscillator which I've shared previously. have fun. Note : kindly check the required symbols to be available in the Market Watch. special attention to the XAUAUD, XAUEUR and XAUUSD. this strength meter does use gold to get its strength index. without it, it will cause an error. read the respond below. just to clarify, I'm using IC Markets 5 digits ECN, this CSM does work without issue there.. link to the oscillator...
None of my brokers I use have XAUAD or XAUEUR available to trade. Can you make a version that doesn't use those pairs just the currencies along with XAUUSD? Thanks
Quoting forexaz
{quote} None of my brokers I use have XAUAD or XAUEUR available to trade. Can you make a version that doesn't use those pairs just the currencies along with XAUUSD? Thanks
as requested, now attached in first post.. have fun.
Well fixed it for nothing, didn't work even after removing the gold symbol so I fixed up the inefficiencies in the code and now it works perfectly for me
Attached File(s)
File Type: ex4 me_Currency_Strength_Meter v2.ex4   24 KB | 840 downloads
File Type: mq4 me_Currency_Strength_Meter v2.mq4   32 KB | 1,064 downloads
Quoting SerbSerb
Well fixed it for nothing, didn't work even after removing the gold symbol so I fixed up the inefficiencies in the code and now it works perfectly for me {file} {file}
great job dude.. that's why I'm providing the mq4 file, so everyone could make any changes to make it work on their broker/system. mine works without issue on my system.. soo not really sure why my version didn't on yours.

anyway, I've take a look on your changes and you need to fix the divisor used in your version. everything need to be divided by 7 on your version since you've not consider gold into the equations (gold is the 8th variable, since you've remove it, only 7 variables remaining).

change that and you're good to go.

have fun.
Attached Image (click to enlarge)
Click to Enlarge Name: 77.png Size: 18 KB
I've played with currency strength meters for a good while now and have come to the conclusion that they're usually all after the fact, in other words the move's happened....
But thanks for sharing qkcode
Quoting qkcode
{quote} great job dude.. that's why I'm providing the mq4 file, so everyone could make any changes to make it work on their broker/system. mine works without issue on my system.. soo not really sure why my version didn't on yours. anyway, I've take a look on your changes and you need to fix the divisor used in your version. everything need to be divided by 7 on your version since you've not consider gold into the equations (gold is the 8th variable, since you've remove it, only 7 variables remaining). change that and you're good to go. have...

  1. Well thank you for posting, no one asked you to yet you still did so it helps the community out as a whole. In my version I just split the MarketInfo() functions into variables then it worked, I think calling the function 3 times in the equation is to much for the compiler stack so it just errors out with no message lol gotta love MQL4. Ill change those variables!

Quoting SerbSerb
{quote} Well thank you for posting, no one asked you to yet you still did so it helps the community out as a whole. In my version I just split the MarketInfo() functions into variables then it worked, I think calling the function 3 times in the equation is to much for the compiler stack so it just errors out with no message lol gotta love MQL4. Ill change those variables!
yeah.. I get what you did coz that’s how I code it in my earlier versions. but nowadays I got the tendencies to reduce the number of lines of code to be as little as possible.

but still wondering why it work on my system and not on yours (and probably some others). maybe speed and type of processor, ram total, operating system, etc.. weird.. but it is what it is.
Quoting rover99x
I've played with currency strength meters for a good while now and have come to the conclusion that they're usually all after the fact, in other words the move's happened.... But thanks for sharing qkcode
yeah.. most indicators are at best only showing what the current situation is. it’s up to us to interpret it, make some projections and use it in our trading.
Quoting qkcode
{quote} yeah.. most indicators are at best only showing what the current situation is. it’s up to us to interpret it, make some projections and use it in our trading.
Spot on qkcode
I have been following some of your posts and you have been very generous with your indicators. I was wondering why you never responded to the last message to this post regarding the modification of this EA. https://www.forexfactory.com/thread/...17#post9752017 I know this is a different thread so u are more active here than there so I sent u this message here. Also, I will like one more addition to the EA. if u will not have the time how about some money for your time and effort?? lol
thank you for your outstanding work! I have two question, What time frame is the meter based on and can you change the parameters to fit the time frame?

Thank You!
Quoting qkcode
sharing my Currency Strength Meter (CSM) in case anyone interested to use it.

Hi the code owner, can you check, for the no gold csm, it seem like the data have 7, but you divided it by 8.
can you check the code again?


and thanks for sharing your CSM.
Quoting warbee
{quote} Hi the code owner, can you check, for the no gold csm, it seem like the data have 7, but you divided it by 8. can you check the code again? and thanks for sharing your CSM.
it's divided by 7. which file you're referring to?
Attached Image (click to enlarge)
Click to Enlarge Name: 7777777.png Size: 16 KB
Quoting shyvoodoo
thank you for your outstanding work! I have two question, What time frame is the meter based on and can you change the parameters to fit the time frame? Thank You!
it's based on daily data.
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