!xMeter_mini

Author: x Meter System� �GPL

System Overview

The Price Meter System is a visual monitoring tool designed for the MetaTrader platform. It provides traders with a real-time "strength meter" for several major global currencies. Instead of showing just the raw price of a single currency pair, this script analyzes multiple pairs simultaneously to calculate how much momentum or "power" each individual currency possesses in the current market environment.

Core Logic and Workflow

The script operates through a continuous cycle that follows these three primary stages:

1. Data Collection and Market Analysis

The system constantly scans a predefined list of 12 currency pairs (including common combinations like EURUSD, GBPJPY, etc.). For every pair, it retrieves four key pieces of information:

The highest and lowest prices reached during the current day.
The current "Bid" and "Ask" prices.

Using this data, the script calculates two specific values for each pair:

Daily Range: How much the currency has moved total today.
Relative Position: Where the current price sits within that daily range (e.g., is it trading near its daily high, mid-point, or low?).

2. Strength Calculation

Once the relative position of each pair is determined, the system assigns a "Grade" to that movement. It then performs a sophisticated averaging process to determine the strength of the seven major currencies (USD, EUR, GBP, CHF, CAD, AUD, and JPY).

The logic works by aggregating the performance of various pairs:

Interdependency: Because many currencies are traded against one another, the script looks at how a currency behaves across multiple different partners.
Weighted Scoring: It combines "Grades" (which measure specific price progress) and "Strengths" (which represent the inverse of that movement) to create a single weighted average for each individual currency.
Normalization: The final scores are normalized to ensure they are represented on a consistent scale, allowing for an accurate side-by-side comparison of different currencies.

3. Visual Representation

The final output is a dynamic dashboard displayed directly on the trading chart.

The Meters: Each currency has its own visual "meter" consisting of five segments.
Color Coding: The colors change based on the strength score:
- Red/Orange: Indicates lower relative strength or downward momentum.
- Yellow/Green/Lime: Indicates higher relative strength or upward momentum.
Real-time Updates: The script refreshes these visual meters every second, ensuring that the trader can see shifting market sentiment at a glance without having to manually check multiple charts.

Summary for the User

Think of this tool as a "Weather Map" for currencies. Instead of looking at one individual storm (a single currency pair), it looks at the entire atmosphere to tell you which way the wind is blowing for each major currency. It simplifies complex multi-pair data into a simple color-coded visual, helping you identify which currencies are currently dominating the market and which are losing steam.

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!xMeter_mini

/*
!xMeter.mq4     
Copyright © 2007, MetaQuotes Software Corp.     
Price Meter System ©GPL     
*/


#property copyright "x Meter System ©GPL"
#property link      "forex-tsd dot com"

#define ARRSIZE  12                     // number of pairs !!!DON'T CHANGE THIS NUMBER!!!
#define PAIRSIZE 7                      // number of currencies !!!DON'T CHANGE THIS NUMBER!!!
#define TABSIZE  10                     // scale of currency's power !!!DON'T CHANGE THIS NUMBER!!!
#define ORDER    2                      // available type of order !!!DON'T CHANGE THIS NUMBER!!!
//+------------------------------------------------------------------+
//     expert initialization function                                |       
//+------------------------------------------------------------------+
int init()
  {
   int   err,lastError;
//----
   initGraph();
   while (true)                                                             // infinite loop for main program
      {
      if (IsConnected()) main();
      if (!IsConnected()) objectBlank();
      WindowRedraw();
      Sleep(1000);                                                          // give your PC a breath
      }
//----
   return(0);                                                               // end of init function
  }
//+------------------------------------------------------------------+
//     expert deinitialization function                              |       
//+------------------------------------------------------------------+
int deinit()
  {
//----
   ObjectsDeleteAll(0,OBJ_LABEL);
   Print("shutdown error - ",GetLastError());                               // system is detached from platform
//----
   return(0);                                                               // end of deinit function
  }
//+------------------------------------------------------------------+
//     expert start function                                         |       
//+------------------------------------------------------------------+
int start()
  {
//----

//----
   return(0);                                                               // end of start funtion
  }
//+------------------------------------------------------------------+
//     expert custom function                                        |       
//+------------------------------------------------------------------+    
void main()                                                                 // this a control center
  {
//----
   string aPair[ARRSIZE]   = {"EURUSD","GBPUSD","AUDUSD","USDJPY","USDCHF","USDCAD",
                              "EURJPY","EURGBP","EURCHF","EURAUD","GBPJPY","GBPCHF"};
   string aMajor[PAIRSIZE] = {"USD","EUR","GBP","CHF","CAD","AUD","JPY"};
   string aOrder[ORDER]    = {"BUY ","SELL "};
   double aMeter[PAIRSIZE];
   double aHigh[ARRSIZE];
   double aLow[ARRSIZE];
   double aBid[ARRSIZE];
   double aAsk[ARRSIZE];
   double aRatio[ARRSIZE];
   double aRange[ARRSIZE];
   double aLookup[ARRSIZE];
   double aStrength[ARRSIZE];
   double point;
   int    index;
   
   for (index = 0; index < ARRSIZE; index++)                                // initialize all pairs required value 
      {
      RefreshRates();                                                       // refresh all currency's instrument
      point            = MarketInfo(aPair[index],MODE_POINT);               // get a point basis
      aHigh[index]     = MarketInfo(aPair[index],MODE_HIGH);                // set a high today
      aLow[index]      = MarketInfo(aPair[index],MODE_LOW);                 // set a low today
      aBid[index]      = MarketInfo(aPair[index],MODE_BID);                 // set a last bid
      aAsk[index]      = MarketInfo(aPair[index],MODE_ASK);                 // set a last ask
      aRange[index]    = MathMax((aHigh[index]-aLow[index])/point,1);       // calculate range today
      aRatio[index]    = (aBid[index]-aLow[index])/aRange[index]/point;     // calculate pair ratio
      aLookup[index]   = iLookup(aRatio[index]*100);                        // set a pair grade
      aStrength[index] = 9-aLookup[index];                                  // set a pair strengh
      } 

   // calculate all currencies meter         
   aMeter[0] = NormalizeDouble((aLookup[3]+aLookup[4]+aLookup[5]+aStrength[0]+aStrength[1]+aStrength[2])/6,1);
   aMeter[1] = NormalizeDouble((aLookup[0]+aLookup[6]+aLookup[7]+aLookup[8]+aLookup[9])/5,1);
   aMeter[2] = NormalizeDouble((aLookup[1]+aLookup[10]+aLookup[11]+aStrength[7])/4,1);
   aMeter[3] = NormalizeDouble((aStrength[4]+aStrength[8]+aStrength[11])/3,1);
   aMeter[4] = NormalizeDouble((aStrength[5]),1);
   aMeter[5] = NormalizeDouble((aLookup[2]+aStrength[9])/2,1);
   aMeter[6] = NormalizeDouble((aStrength[3]+aStrength[6]+aStrength[10])/3,1);     
             
   objectBlank();   
   paintUSD(aMeter[0]);
   paintEUR(aMeter[1]);
   paintGBP(aMeter[2]);
   paintCHF(aMeter[3]);
   paintCAD(aMeter[4]);
   paintAUD(aMeter[5]);
   paintJPY(aMeter[6]);
   paintLine();
                                                                            
//----
  }
  
int iLookup(double ratio)                                                   // this function will return a grade value
  {                                                                         // based on its power.
   int    aTable[TABSIZE]  = {0,3,10,25,40,50,60,75,90,97};                 // grade table for currency's power
   int   index;
   
   if      (ratio <= aTable[0]) index = 0;
   else if (ratio < aTable[1])  index = 0;
   else if (ratio < aTable[2])  index = 1;
   else if (ratio < aTable[3])  index = 2;
   else if (ratio < aTable[4])  index = 3;
   else if (ratio < aTable[5])  index = 4;
   else if (ratio < aTable[6])  index = 5;
   else if (ratio < aTable[7])  index = 6;
   else if (ratio < aTable[8])  index = 7;
   else if (ratio < aTable[9])  index = 8;
   else                         index = 9;
   return(index);                                                           // end of iLookup function
  }
  
void initGraph()
  {
   ObjectsDeleteAll(0,OBJ_LABEL);

   objectCreate("usd_1",130,43);
   objectCreate("usd_2",130,35);
   objectCreate("usd_3",130,27);
   objectCreate("usd_4",130,19);
   objectCreate("usd_5",130,11);
   objectCreate("usd",132,12,"USD",7,"Arial Narrow",SkyBlue);
   objectCreate("usdp",134,21,DoubleToStr(9,1),8,"Arial Narrow",Silver);
   
   objectCreate("eur_1",110,43);
   objectCreate("eur_2",110,35);
   objectCreate("eur_3",110,27);
   objectCreate("eur_4",110,19);
   objectCreate("eur_5",110,11);
   objectCreate("eur",112,12,"EUR",7,"Arial Narrow",SkyBlue);
   objectCreate("eurp",114,21,DoubleToStr(9,1),8,"Arial Narrow",Silver);
   
   objectCreate("gbp_1",90,43);
   objectCreate("gbp_2",90,35);
   objectCreate("gbp_3",90,27);
   objectCreate("gbp_4",90,19);
   objectCreate("gbp_5",90,11);
   objectCreate("gbp",92,12,"GBP",7,"Arial Narrow",SkyBlue);
   objectCreate("gbpp",94,21,DoubleToStr(9,1),8,"Arial Narrow",Silver);
   
   objectCreate("chf_1",70,43);
   objectCreate("chf_2",70,35);
   objectCreate("chf_3",70,27);
   objectCreate("chf_4",70,19);
   objectCreate("chf_5",70,11);
   objectCreate("chf",72,12,"CHF",7,"Arial Narrow",SkyBlue);
   objectCreate("chfp",74,21,DoubleToStr(9,1),8,"Arial Narrow",Silver);

   objectCreate("cad_1",50,43);
   objectCreate("cad_2",50,35);   
   objectCreate("cad_3",50,27);
   objectCreate("cad_4",50,19);
   objectCreate("cad_5",50,11);
   objectCreate("cad",52,12,"CAD",7,"Arial Narrow",SkyBlue);
   objectCreate("cadp",54,21,DoubleToStr(9,1),8,"Arial Narrow",Silver);
   
   objectCreate("aud_1",30,43);
   objectCreate("aud_2",30,35);
   objectCreate("aud_3",30,27);
   objectCreate("aud_4",30,19);
   objectCreate("aud_5",30,11);
   objectCreate("aud",32,12,"AUD",7,"Arial Narrow",SkyBlue);
   objectCreate("audp",34,21,DoubleToStr(9,1),8,"Arial Narrow",Silver);

   objectCreate("jpy_1",10,43);
   objectCreate("jpy_2",10,35);
   objectCreate("jpy_3",10,27);
   objectCreate("jpy_4",10,19);
   objectCreate("jpy_5",10,11);
   objectCreate("jpy",13,12,"JPY",7,"Arial Narrow",SkyBlue);
   objectCreate("jpyp",14,21,DoubleToStr(9,1),8,"Arial Narrow",Silver);
   
   objectCreate("line",10,6,"-----------------------------------",10,"Arial",DimGray);  
   objectCreate("line1",10,27,"-----------------------------------",10,"Arial",DimGray);  
   objectCreate("line2",10,69,"-----------------------------------",10,"Arial",DimGray);
   objectCreate("sign",11,1,"»»» Price Meter System ©GPL «««",8,"Arial Narrow",DimGray);
   WindowRedraw();
  }
//+------------------------------------------------------------------+
void objectCreate(string name,int x,int y,string text="-",int size=42,
                  string font="Arial",color colour=CLR_NONE)
  {
   ObjectCreate(name,OBJ_LABEL,0,0,0);
   ObjectSet(name,OBJPROP_CORNER,3);
   ObjectSet(name,OBJPROP_COLOR,colour);
   ObjectSet(name,OBJPROP_XDISTANCE,x);
   ObjectSet(name,OBJPROP_YDISTANCE,y);
   ObjectSetText(name,text,size,font,colour);
  }

void objectBlank()
  {
   ObjectSet("usd_1",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("usd_2",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("usd_3",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("usd_4",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("usd_5",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("usd",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("usdp",OBJPROP_COLOR,CLR_NONE);

   ObjectSet("eur_1",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("eur_2",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("eur_3",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("eur_4",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("eur_5",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("eur",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("eurp",OBJPROP_COLOR,CLR_NONE);

   ObjectSet("gbp_1",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("gbp_2",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("gbp_3",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("gbp_4",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("gbp_5",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("gbp",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("gbpp",OBJPROP_COLOR,CLR_NONE);

   ObjectSet("chf_1",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("chf_2",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("chf_3",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("chf_4",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("chf_5",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("chf",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("chfp",OBJPROP_COLOR,CLR_NONE);

   ObjectSet("cad_1",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("cad_2",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("cad_3",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("cad_4",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("cad_5",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("cad",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("cadp",OBJPROP_COLOR,CLR_NONE);

   ObjectSet("aud_1",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("aud_2",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("aud_3",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("aud_4",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("aud_5",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("aud",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("audp",OBJPROP_COLOR,CLR_NONE);

   ObjectSet("jpy_1",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("jpy_2",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("jpy_3",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("jpy_4",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("jpy_5",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("jpy",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("jpyp",OBJPROP_COLOR,CLR_NONE);
   
   ObjectSet("line1",OBJPROP_COLOR,CLR_NONE);
   ObjectSet("line2",OBJPROP_COLOR,CLR_NONE); 
  }
  
void paintUSD(double value)
  {
   if (value > 0) ObjectSet("usd_5",OBJPROP_COLOR,Red);
   if (value > 2) ObjectSet("usd_4",OBJPROP_COLOR,Orange);
   if (value > 4) ObjectSet("usd_3",OBJPROP_COLOR,Gold);   
   if (value > 6) ObjectSet("usd_2",OBJPROP_COLOR,YellowGreen);
   if (value > 7) ObjectSet("usd_1",OBJPROP_COLOR,Lime);
   ObjectSet("usd",OBJPROP_COLOR,SkyBlue);
   ObjectSetText("usdp",DoubleToStr(value,1),8,"Arial Narrow",Silver);
  }

void paintEUR(double value)
  {
   if (value > 0) ObjectSet("eur_5",OBJPROP_COLOR,Red);
   if (value > 2) ObjectSet("eur_4",OBJPROP_COLOR,Orange);
   if (value > 4) ObjectSet("eur_3",OBJPROP_COLOR,Gold);   
   if (value > 6) ObjectSet("eur_2",OBJPROP_COLOR,YellowGreen);
   if (value > 7) ObjectSet("eur_1",OBJPROP_COLOR,Lime);
   ObjectSet("eur",OBJPROP_COLOR,SkyBlue);
   ObjectSetText("eurp",DoubleToStr(value,1),8,"Arial Narrow",Silver);
  }

void paintGBP(double value)
  {
   if (value > 0) ObjectSet("gbp_5",OBJPROP_COLOR,Red);
   if (value > 2) ObjectSet("gbp_4",OBJPROP_COLOR,Orange);
   if (value > 4) ObjectSet("gbp_3",OBJPROP_COLOR,Gold);   
   if (value > 6) ObjectSet("gbp_2",OBJPROP_COLOR,YellowGreen);
   if (value > 7) ObjectSet("gbp_1",OBJPROP_COLOR,Lime);
   ObjectSet("gbp",OBJPROP_COLOR,SkyBlue);
   ObjectSetText("gbpp",DoubleToStr(value,1),8,"Arial Narrow",Silver);
  }

void paintCHF(double value)
  {
   if (value > 0) ObjectSet("chf_5",OBJPROP_COLOR,Red);
   if (value > 2) ObjectSet("chf_4",OBJPROP_COLOR,Orange);
   if (value > 4) ObjectSet("chf_3",OBJPROP_COLOR,Gold);   
   if (value > 6) ObjectSet("chf_2",OBJPROP_COLOR,YellowGreen);
   if (value > 7) ObjectSet("chf_1",OBJPROP_COLOR,Lime);
   ObjectSet("chf",OBJPROP_COLOR,SkyBlue);
   ObjectSetText("chfp",DoubleToStr(value,1),8,"Arial Narrow",Silver);
  }

void paintCAD(double value)
  {
   if (value > 0) ObjectSet("cad_5",OBJPROP_COLOR,Red);
   if (value > 2) ObjectSet("cad_4",OBJPROP_COLOR,Orange);
   if (value > 4) ObjectSet("cad_3",OBJPROP_COLOR,Gold);   
   if (value > 6) ObjectSet("cad_2",OBJPROP_COLOR,YellowGreen);
   if (value > 7) ObjectSet("cad_1",OBJPROP_COLOR,Lime);
   ObjectSet("cad",OBJPROP_COLOR,SkyBlue);
   ObjectSetText("cadp",DoubleToStr(value,1),8,"Arial Narrow",Silver);
  }

void paintAUD(double value)
  {
   if (value > 0) ObjectSet("aud_5",OBJPROP_COLOR,Red);
   if (value > 2) ObjectSet("aud_4",OBJPROP_COLOR,Orange);
   if (value > 4) ObjectSet("aud_3",OBJPROP_COLOR,Gold);   
   if (value > 6) ObjectSet("aud_2",OBJPROP_COLOR,YellowGreen);
   if (value > 7) ObjectSet("aud_1",OBJPROP_COLOR,Lime);
   ObjectSet("aud",OBJPROP_COLOR,SkyBlue);
   ObjectSetText("audp",DoubleToStr(value,1),8,"Arial Narrow",Silver);
  }

void paintJPY(double value)
  {
   if (value > 0) ObjectSet("jpy_5",OBJPROP_COLOR,Red);
   if (value > 2) ObjectSet("jpy_4",OBJPROP_COLOR,Orange);
   if (value > 4) ObjectSet("jpy_3",OBJPROP_COLOR,Gold);   
   if (value > 6) ObjectSet("jpy_2",OBJPROP_COLOR,YellowGreen);
   if (value > 7) ObjectSet("jpy_1",OBJPROP_COLOR,Lime);
   ObjectSet("jpy",OBJPROP_COLOR,SkyBlue);
   ObjectSetText("jpyp",DoubleToStr(value,1),8,"Arial Narrow",Silver);
  }
  
void paintLine()
  {
   ObjectSet("line1",OBJPROP_COLOR,DimGray);
   ObjectSet("line2",OBJPROP_COLOR,DimGray);
  }

!xMeter_mini

System Overview

Core Logic and Workflow

1. Data Collection and Market Analysis

2. Strength Calculation

3. Visual Representation

Summary for the User

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