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Currency Strength Meter - Improvement

  • #1
  • First Post: Oct 17, 2012 5:26am Oct 17, 2012 5:26am
hi all

I have attached excel sheet for currency strength meter ( i found it before thru forums here ) done by tom.

anyhow : if you checked the code in ( strength 28 sheet ) you will find that it does import data from MT4 ( MT4 must be working while you open this excel sheet ) and it imports high / low price values on a daily basis.

my request : what can we do to the excel sheet so we can import WEEKLY high / low price values instead of DAILY ones in the high / low cells ?

It will be awesome if we can make 3 sheets ( daily / weekly / monthly ) so we let the each excel sheet to import high / low price values auto ?


regards
Attached File(s)
File Type: xlsx Currency Stength (28).xlsx   337 KB | 8,301 downloads
  • #2
  • Oct 17, 2012 1:44pm Oct 17, 2012 1:44pm
hi all

isn't there any interested coders ?

i wish it will be easy task

regards
  • #3
  • Oct 17, 2012 4:02pm Oct 17, 2012 4:02pm
I have an earlier version of this same spreadsheet. Another version also plots Fibonacci levels.

I'm sure you are aware it is using DDE to collect the data in real time and the continuously imported DDE data is High, Ask, Bid and Low for 28 pairs. Because the imported data is continuously updated, the only way to do as you ask is a procedure / macro to write (say) Daily and Weekly data to a new worksheet or linked workbook and modify the source data from DDE to use a lookup value.

e.g. replacing the formula in cells containing something like "='MT4'|HIGH!EURUSD" to Lookup formula for High (and the Low of each pair). I guess you'd need to improvise on how to replace the Bid and Ask values to say Close price and Close price minus a spread value.

I think it would be good exercise.
  • #4
  • Oct 17, 2012 10:51pm Oct 17, 2012 10:51pm
dear Newton51

honestly am not profesional in coding.

yes you are right : from my basic thoughts , there shall be an intermediate sheet to collect weekly / monthly of high / low values of all the 28 pairs and to collect bid/ask price for all the 28 pairs also and do the same calculations to get the final numbers of all currencies as strength / weakness.

i'll appreciate your helpful.

regards
  • #5
  • Oct 18, 2012 12:08am Oct 18, 2012 12:08am
I tried and failed to write DDE data at intervals of time. That's why I was so familiar with this. It would be quite straight forward using an indicator to create and populate a spreadsheet with daily data though. I might try it over the weekend.

If there are any Excel experts here that know how to write the required data every x minutes that would be great too.
  • #6
  • Oct 21, 2012 6:13am Oct 21, 2012 6:13am
Quoting Newton51
I tried and failed to write DDE data at intervals of time. That's why I was so familiar with this. It would be quite straight forward using an indicator to create and populate a spreadsheet with daily data though. I might try it over the weekend.

If there are any Excel experts here that know how to write the required data every x minutes that would be great too.



thanx newton

but isn't thier a way to import weekly data high low instead daily ?



ok : if it is hard to do it in excel : can't we make the same excel sheet code into MQ4 as an MT4 indicator ? i think this will be easy where we can have an option to select high / low price values as either daily / weekly / monthly timeframe ?

may you guys think about it and make the right matrix consisting of all 28 pairs and codt mq4 indicator ?


regards
  • #7
  • Oct 21, 2012 7:25am Oct 21, 2012 7:25am
DDE is pure raw data. Accept it as it is. The only alternative is lots of coding.
  • #8
  • Oct 23, 2012 11:43am Oct 23, 2012 11:43am
Quote
can't we make the same excel sheet code into MQ4 as an MT4 indicator ?

There for MetaTrader 4. script xMeter.mq4

http://1.bp.blogspot.com/-_dN6Ttx3g8...BIndicator.gif

I have programmed for MetaTrader 5.
http://mql5.com/8tl

Calculation of the High-Low range:
Current daily bar (default);
Last 8 hours;
Last 12 hour;
Last 24 hours.

I could but weekly/monthly Add?
  • #9
  • Oct 23, 2012 7:36pm Oct 23, 2012 7:36pm
Quoting FinGeR
There for MetaTrader 4. script xMeter.mq4

http://1.bp.blogspot.com/-_dN6Ttx3g8...BIndicator.gif

I have programmed for MetaTrader 5.
http://mql5.com/8tl

Calculation of the High-Low range:
Current daily bar (default);
Last 8 hours;
Last 12 hour;
Last 24 hours.

I could but weekly/monthly Add?

thanx so much Finger ;

but : to let me get the whole picture ?
1- in your indicator for MQ5 : Have u code it based on the same equations and ideas in the excel sheet i'v attached where we measure the bid ratio as a % of total high/low of that period combining all currency pairs ( 28 pairs minimum ) ?

2- If so : as i understand that you have the High-Low range for current daily bar + 8 hr + 12 hr + 24 hr options , right ?
If so : may you add another 2 options for the High-Low range for current Weekly bar + current Monthly bar ?

it will be ok if in MQ5 but prefered in MQ4.

Thanx FinGer.

Regards
  • #10
  • Oct 24, 2012 2:49pm Oct 24, 2012 2:49pm
hi finger


i have checked xMeter in MQ4 : it does not give same values when u attach it to chart as those given by the excel sheet.

I have also tried your MQ5 indicator : but it does not work !! I don't know why or what can i do ?

please check post 9 beside this post , and lets do it.


thnx
  • #11
  • Oct 28, 2012 1:34pm Oct 28, 2012 1:34pm
I am trying to program just your Currency Stength (28).xlsx as an indicator for MT4.
When I finished I will post it here.
  • #12
  • Oct 28, 2012 1:40pm Oct 28, 2012 1:40pm
Quoting FinGeR
I am trying to program just your Currency Stength (28).xlsx as an indicator for MT4.
When I finished I will post it here.


thanx FinGeR : This will be great to do the currency strength indicator in excell sheet.

to be noted : your xmeter.mq5 is working now on my laptop.

so : if it is easier for you to do it in MQ5 then it is ok !
you can just add the weekly/monthly option to your original indicator and thats it , pal.


anyhow : its up to you : either excel sheet or MQ5 is ok for me.
i prefer the MQ5.


thanx for you coporation .. looking to hear your feedback.

Have fun.
  • #13
  • Nov 2, 2012 6:38pm Nov 2, 2012 6:38pm
hi finger

what are the progress we have ?

i wish that u still follow up here

thanx
  • #14
  • Nov 3, 2012 4:09am Nov 3, 2012 4:09am
Here is a MQ4-based CSM that was coded directly from a XLS similar to Tom's. It works for up to 28 pairs (AC,AF,AJ,AN,AU,CF,CJ,EA,EC,EF,EG,EJ,EN,EU,FJ,GA,GC,GF,GJ,GN,GU,NC,NF,NJ,NU,UC,UF,UJ) if I recall correctly. I don't use it myself.

It's offered on a "take it or leave it" basis as I don't have time to modify the code any further. But anybody else, please feel welcome to do so.

Hope it helps.
  • #15
  • Nov 4, 2012 9:44pm Nov 4, 2012 9:44pm
Quoting hanover
Here is a MQ4-based CSM that was coded directly from a XLS similar to Tom's. It works for up to 28 pairs (AC,AF,AJ,AN,AU,CF,CJ,EA,EC,EF,EG,EJ,EN,EU,FJ,GA,GC,GF,GJ,GN,GU,NC,NF,NJ,NU,UC,UF,UJ) if I recall correctly. I don't use it myself.

It's offered on a "take it or leave it" basis as I don't have time to modify the code any further. But anybody else, please feel welcome to do so.

Hope it helps.

Thanx hanover for your input , but : unfortunately : this does not cover my requirements.

anyhow : everybody is welcomed.

thanx sir.
  • #16
  • Edited 3:48pm Nov 5, 2012 2:32pm | Edited 3:48pm
Update 1.2 for MetaTrader 5

i have add daily, weekly, monthly and last 24 hours bars.

Important: when the change of the parameter, the price data are downloaded, which can lead to a delay in the display.
I will try this in the next version to optimize. coming...

Copy the file FX Currencies Power Meter.ex5 to MQL5/Experts/

--
version 1.0 and description: http://mql5.com/8tl
--
Attached Image (click to enlarge)
Click to Enlarge Name: 2012-11-05_21-31-16.png Size: 59 KB
Attached File(s)
File Type: ex5 FX Currencies Power Meter.ex5   60 KB | 3,360 downloads
  • #17
  • Nov 7, 2012 5:48pm Nov 7, 2012 5:48pm
Quoting FinGeR
Update 1.2 for MetaTrader 5

i have add daily, weekly, monthly and last 24 hours bars.

Important: when the change of the parameter, the price data are downloaded, which can lead to a delay in the display.
I will try this in the next version to optimize. coming...

Copy the file FX Currencies Power Meter.ex5 to MQL5/Experts/

--
version 1.0 and description: http://mql5.com/8tl
--

thnx a lot finger : this is sooooooo great ! i like it ..

let me check the best way to use it , i will come back.

waiting for your enhancements ..

regards
  • #18
  • May 26, 2013 12:15pm May 26, 2013 12:15pm
Quoting FinGeR
Update 1.2 for MetaTrader 5 i have add daily, weekly, monthly and last 24 hours bars. Important: when the change of the parameter, the price data are downloaded, which can lead to a delay in the display. I will try this in the next version to optimize. coming... Copy the file FX Currencies Power Meter.ex5 to MQL5/Experts/ -- version 1.0 and description: http://mql5.com/8tl -- {file} {image}


hi FinGeR

THANX FOR YOUR EFFORT : ITS GREAT.

ok : can we make some improvement to the indicator you made ?

here we go :

as we see that the indicator is giving only one variable value to each currency which changes over time as ONLY one value : can we draw this variable as a line in a seperate window by which this variable value drawn as line for each currency going past 500 bars.

for example : we choose the option of high low range of weekly.
it will give variable values for the currencies as price float change.
suppose that at the close of 1 pm candle that we have values of : usd 3 / eur 4 / gbp 5.6 / cad 6.8 .. etc
then at close of 2 pm candle values goes to : usd 4 / eur 5 / gbp 6.3 / .. etc
then at close of 3 pm candle values .... etc
then at 4 pm close values ... etc etc
etc etc for past 500 hour candles.

so indicator will draw a line for each currency in seperate window ( all lines will be in one seperate window ) for past 500 values at the close of each hour candle.
it will looks like mixed lines crossing each other based on strength / weakness of each currency.

so we can have a broader view of the forex market.


how can we make such indicator ?

than finger in advance
  • #19
  • May 26, 2013 1:27pm May 26, 2013 1:27pm
Do you mean something like this indicator?



http://www.forexfactory.com/showthre...89#post4724389
  • #20
  • May 26, 2013 1:49pm May 26, 2013 1:49pm
Quoting FinGeR
Do you mean something like this indicator? http://www.forexfactory.com/showthre...89#post4724389

yes sir : it will looks like that indicator CCFp , but i need the calculation to be done as per your indicator (nnot as per CCFp ).

it will looks like CCFp , but we will do it as per the indicator you do for MQ5 : AT THE CLOSE OF EACH HOUR THEN IT WILL TAKE THAT VALUE AND DRAW A LINE FOR PAST 500 HOUR CANDLES.

Is it applicable ?

thanx sir


P.S : btw , we have to keep the options as per our high-low range is calculated : current day / past 24 hours / current week / current month ... so we can play the high-low range option and draw lines for all currencies for the past 500 hour candles.
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