WM4X tools (dashboards and other useful programs)

It's as easy as it looks in this picture.

You are most welcome!

Looks like a nice compact strength meter, what are the numbers in brackets showing ?

This is a value normalized according to my own method. I had to develop my own "proprietary" method, as standard normalization (0-1, or -1-1) and z-score normalization (around 0) cannot be applied here. My method shows the relationship between individual values proportionally!

please check the screenshot. a small request for a quick close trade tool for MT4, please check if you can make it in your free time. thanks in advanced!

it's not for all global order. like i have multiple pair chart. i will attached to lets say EURUSD. it will close only for EURUSD.

I do not accept individual requests.
But: check this out!

ah ohkies, no problem, thanks anyway.

i saw that tools but i think it's only close open order both buy and sell.

I'm not sure I understand exactly what you want, the wording is a little confusing, but I think the program I showed you can do what you want.


PS: TradePanel closes (or reverses) all open trades (buys+sells) together. If you want to manage buy and sell trades separately, you will need a different program.

For example, if you are only interested in daily (D1) data, it looks like this:


The numbers show the exact strength ratios. For example, this image shows that the EUR is exactly as strong as the CHF is weak.

WM4X-CSM-Dashboard
Multi-currency and multi-timeframe Currency Strength Meter (CSM) dashboard indicator for MT4
WM4X-Dashboard series






Animated GIF image, click on it to see it in action:






The WM4X-CSM-DB indicator is the most accurate of all CSM indicators, as it is not based on a moving average (or other lagging indicator), but on ROC (Rate Of Change). This means that the resulting value is completely direct, i.e. not derived. Definition: the ROC is a momentum indicator. It calculates the percent change in price between periods. ROC takes the current price and compares it to a price "n" periods ago.
The ROC period can be set as desired. The classic value is 1, but especially in the case of low time-frames, this results in very rapid fluctuations in terms of signals, so it may be worth using a larger period (or even ignoring low TFs completely, if you don't specifically need them). If you want to use several different ROC periods for different TFs, run multiple instances of the indicator (using different IDs).

Since standard and z-score normalization cannot be used in this case, WM4X-CSM uses a proprietary, specialized normalization procedure. As a result, the values accurately reflect the differences in strength between each currency, proportionally. The values can range from +100 to -100, but since the strongest and weakest currencies are not usually equally strong and weak, their values can differ significantly (for example, the strongest is +100 and the weakest is -50, i.e., the strongest is twice as strong as the weakest is weak).

Each currency has a different color code and is ranked in order of strength within the time-frames in real time.

The dashboard displays the top performers for each time-frame (i.e., the pairs formed by the strongest vs. weakest currencies and their directions).

Signal threshold: its role is to filter out immature signals that are not yet fully established. Thus, if the strength value fluctuates around 0, it will not give a new signal at every plus-minus change, only when it has moved sufficiently away from zero. The default setting is 10, which means that currencies between +10 and -10 strength value are ignored. If you no need this filter, just set it to zero.
It is also possible to ignore certain currencies; to do so, use the "Forbidden currency" input.

You can set which time-frames will generate alerts, i.e., you can run all time-frames (so you can see the whole palette), but only the ones you set will generate signals. The name of the time-frame selected for alerting will be followed by "[A]" - for example, H4 [A].
Intelligent alerts (you won't be bombarded with alerts, you will only receive a notification when a new signal is generated - or during indicator reinitialization).
Specific example: you received a buy signal for EURUSD. Then the pair moves in such a way that the signal disappears and then reappears. At this point, you will not receive another buy notification, as there has been no change in the original direction. However, if a sell signal occurs, you will receive a new notification, as there has been a change.
Available alerts: sound, pop-up, email and push notification.
However, be aware that if the ROC period is low (especially if it is 1) or if the signal-generating time-frames are low, the signals may change frequently. Similarly, signal fluctuation may be high if a new candle has just started on the given time-frame at low period.


Signal modes:
1./ Top performers only: in this mode, signals are generated by the top performers in each time-frame. A top performer is a pair formed by the strongest and weakest currency pairings. In a strong market, these pairs are expected to continue in the direction of the signal. In a weak, uncharacteristic, or range-bound market, however, we can expect their direction to reverse soon, so this can be interpreted as a reverse signal.
2./ Only strong vs. only weak: in this mode, signals will be generated that give the same signal on all selected signal time-frames. A concrete example: let's say you have selected 3 signal time-frames (M15, H1, and H4). On these 3 TFs, the EUR and GBP have only positive values, while the USD and JPY have only negative values (the other currencies are mixed, with both positive and negative values, so they do not generate a signal). Thus, the signals will be: EURUSD, EURJPY, GBPUSD, and GBPJPY, all of which are bullish in this example.

An important note: this indicator is a "snapshot" of the current state of the market. It is worth comparing the signals with those of other indicators (especially in terms of support/resistance) in order to make more informed decisions about which trades to open.

4-type display:




Settings:




Features:
- Customizable currency list
- Movable (click/release > move > click/release in the header)
- Resizable (and stretching)
- Remembers its position, so it stays the same when you switch charts
- Color schemes
- Custom font
- Magnet pixels, this is useful if you are running multiple copies of the WM4X-programs and want to align them horizontally or vertically (for a more organized look)
- Refreshing time (you can adjust the refresh rate - in milliseconds - to match the power of your CPU)
- Close button for convenient and quick removal


For instrument settings and troubleshooting, check the relevant sections in the dashboard description:
WM4X-Dashboard series - General description


Download:

Hello, thank you very much for the panels. Would it be possible to add gold to the CSM?

My answer was here.

1. OMG, if coders had a dollar for every time that question was asked and answered!

2. Gold is at ATH = All Time High - what do you think the strength of Gold is?

DOH

Looking good so far, watch all day to see what develops during Europe sessions.

Thanks for all the work you and sharing it all.

Hello, thank you for creating and sharing the dashboard. It’s really useful and well-designed. Would it be possible to add the indicator buffers?

Why do you ask? Do you want to use the data with iCustom? That would be terribly difficult, just take a look at the long list of Input settings. Furthermore, each piece of data has two components: currency and strength values, which cannot be put into a buffer.
The individual values can be easily queried based on the text of each button using ObjectGetString().
If you study the object list, you can see how the names of the objects are structured, which will help you obtain the data.

Spot on today, if you want to check the code, here it is, one of the few indicators that TRO doesn't complain when you share it, don't tell TooSlow either.

Uhhh ...
My honest opinion: that code is a disaster in every respect. Considering how simple the program's functionality is, the code itself is ugly and chaotic. The program does not handle prefixes and suffixes, so it does not work at all with many brokers. The calculation is based on the bid ratio, which is not very good, but somewhat acceptable. It roughly shows the order of strength, but does not provide information about the strength ratios (so you cannot know, in this particular case, whether the fundamental factor behind the rising EURNZD chart is the strengthening of the EUR or the weakening of the NZD. In contrast, the WM4X-CSM provides accurate information that the movement is primarily driven by the significant weakening of the NZD). Just a few quick impressions ..

Great review and information, convinced me, I'll go full WM4X indicators now.

NZDCHF just missed my T.P. yesterday, have 6 wins and 1 loss this week purely going with trend, but USD total reversal for last days is not helping now, my bad timing as usual, I should know by now that the market is watching what I do.

Thanks for the feedback!
(Just a quick note: I see you're using an older version of ChartChanger. The newer version also supports slideshows! - if you think it's useful.)