_xMeter_mini_v1
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This script functions as a visual "Price Meter System," designed to provide traders with a real-time overview of currency strength within the Forex market. Instead of just showing price movements on a standard chart, it analyzes multiple currency pairs simultaneously to calculate and display a relative "power" score for major currencies.
Core Logic and Functionality
1. Data Collection and Analysis The system automatically monitors a predefined list of 12 major currency pairs (such as EURUSD, GBPUSD, USDJPY, etc.). For every pair, it continuously gathers three specific types of market data:
- Daily Highs and Lows: To determine the total price range traveled during the current day.
- Current Bid/Ask Prices: To see where the currency is currently trading in relation to its daily boundaries.
- Price Ratios: It calculates how far the current price has moved from the day's low relative to the total range.
2. Strength Grading (The "Lookup" System) Once the ratio for each pair is calculated, the script assigns a numerical "grade" based on the currency's performance. This is essentially a classification system that ranks how dominant a currency is performing compared to its peers. By converting these ratios into specific grades, the tool can determine which currencies are trending strongly and which are lagging.
3. Multi-Currency Correlation The logic does not look at currencies in isolation. To arrive at the final "Meter" value for each individual currency (USD, EUR, GBP, CHF, CAD, AUD, and JPY), the script performs weighted calculations. It aggregates the grades and strengths from all related pairs to produce a unified score. For example, the strength of the USD is derived from its performance across multiple different pairings, providing a more holistic view of its global market position.
4. Visual Representation The final output is an on-screen visual meter for each of the seven major currencies. The system uses a color-coded bar logic to represent these scores:
- Dynamic Coloring: As a currency's strength score increases, different segments of its specific meter change color (ranging from Red and Orange to Gold, Yellow-Green, and Lime).
- Real-Time Updates: The script runs in an infinite loop, refreshing the data every second. This ensures that as market conditions shift, the meters move and change color instantly to reflect the newest price action.
- User Interface: It automatically creates a clean dashboard on your chart, including labels, separators, and a title, allowing you to monitor the entire "mood" of the market at a glance without needing to click through multiple different charts.
Summary for the User
Think of this tool as a market thermometer. Rather than telling you exactly where to trade, it tells you how hot or cold specific currencies are behaving today. By looking at which meters are glowing with "high strength" colors and which are staying in the "low strength" zones, you can quickly identify which currencies are leading the market and which are being pressured.
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_xMeter_mini_v1
/*
!xMeter.mq4
Copyright © 2007, MetaQuotes Software Corp.
Price Meter System ©GPL
Robert Hill
5/16/2007 Corrected problem with IBFX mini Account
*/
#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;
string mySymbol;
for (index = 0; index < ARRSIZE; index++) // initialize all pairs required value
{
RefreshRates(); // refresh all currency's instrument
mySymbol = StringSubstr(aPair[index],0,6); // Only look at first 6 characters of pair
point = MarketInfo(mySymbol,MODE_POINT); // get a point basis
aHigh[index] = MarketInfo(mySymbol,MODE_HIGH); // set a high today
aLow[index] = MarketInfo(mySymbol,MODE_LOW); // set a low today
aBid[index] = MarketInfo(mySymbol,MODE_BID); // set a last bid
aAsk[index] = MarketInfo(mySymbol,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);
}
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