Currency Strength Meter is the easiest way to identify strong and weak currencies. This indicator shows the relative strength of 8 major currencies: AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD.

By default, the strength value is normalized in the range from 0 to 100 for the RSI algorithm:

• A value above 60 indicates a strong currency;
• A value below 40 indicates a weak currency;

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This indicator is created and optimized for its external use in expert Advisors and custom indicators.

For direct use as an indicator, there are several special versions:

• Currency Strength Meter Pro for MT5
  
• Currency Strength Meter Pro Dashboard for MT5
  
• Currency Strength Meter Pro Graph for MT5

• Chart with currency strength values (shows the strength of currencies with graphical lines);
• Allows you to calculate the average strength of the currency on the specified timeframes;
• Multiple algorithms for calculating currency strength (RSI, CCI, RVI, MFI, Stochastic, DeMarket, Momentum);
• Smoothing the moving average (allows you to smooth the result using certain algorithms);
• Latency (allows you to calculate the strength of the currency at a specified interval, so it takes less time to calculate);

This indicator requires data for all 28 major currency pairs and 9 timeframes. The history data should be loaded automatically when the indicator starts.

Read this article to gain knowledge How to use this indicator to create your own Expert Advisor for MT5

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