xMeter_mini_v1_2
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Price Meter System Overview
The Price Meter System is a visual monitoring tool designed to track and display the relative "strength" or performance of various major global currencies in real-time. Instead of looking at complex charts, this script provides a simplified dashboard that summarizes how each currency is performing against its peers.
How the Logic Works
The system operates through a continuous cycle of data collection, analysis, and visual updates:
1. Data Collection The script constantly monitors 12 specific currency pairs (such as EURUSD, GBPJPY, etc.). For every pair, it retrieves three primary pieces of information from the live market:
- The highest price reached during the current session.
- The lowest price reached during the current session.
- The current live "Bid" and "Ask" prices.
2. Performance Calculation Once the data is collected, the system performs a series of mathematical calculations to determine the "health" of each currency:
- Range: It calculates the total distance between the high and low for each pair.
- Ratio: It determines where the current price sits within that daily range (e.g., is it currently near the top, middle, or bottom?).
- Grading: Each pair is assigned a "grade" or power level based on its ratio. This tells the system how much momentum a currency has.
- Strength Conversion: The system then distinguishes between "Power" (where a currency is leading) and "Strength" (where it is being pushed).
3. Weighted Averaging This is the core intelligence of the script. Rather than looking at one pair in isolation, the system calculates a final score for each individual currency by averaging its performance across multiple pairs. For example:
- The USD score is calculated by combining its performance against the Japanese Yen, Swiss Franc, and Canadian Dollar, while factoring in how much it is being pushed by the Euro, British Pound, and Australian Dollar.
- Every major currency (EUR, GBP, CHF, CAD, AUD, JPY) receives a final "Meter" value based on this balanced cross-analysis.
4. Visual Representation The final results are displayed on your trading screen as a set of meters for each currency. The logic translates the numerical scores into colors and progress bars:
- Higher Scores: As a currency's strength increases, the meter fills with more vibrant colors (moving toward Lime).
- Lower Scores: If a currency is weak, the meter reflects that using warmer colors like Orange or Red.
- Real-time Updates: The script refreshes this data every second, ensuring that the visual meters move dynamically as market prices fluctuate.
Summary for the User
In short, this tool acts as a "Power Gauge" for the Forex market. It does the heavy lifting of scanning 12 different pairs and doing the math to tell you which currencies are currently dominant and which are lagging, presenting all that information in a clean, color-coded visual dashboard.
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xMeter_mini_v1_2
/*
!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!!!
// Added to make code easier to understand
// Currency pair
#define EURUSD 0
#define GBPUSD 1
#define AUDUSD 2
#define USDJPY 3
#define USDCHF 4
#define USDCAD 5
#define EURJPY 6
#define EURGBP 7
#define EURCHF 8
#define EURAUD 9
#define GBPJPY 10
#define GBPCHF 11
// Currency
#define USD 0
#define EUR 1
#define GBP 2
#define CHF 3
#define CAD 4
#define AUD 5
#define JPY 6
extern bool AccountIsIBFXmini = false;
string aPair[ARRSIZE] = {"EURUSDm","GBPUSDm","AUDUSDm","USDJPYm","USDCHFm","USDCADm",
"EURJPYm","EURGBPm","EURCHFm","EURAUDm","GBPJPYm","GBPCHFm"};
string aMajor[PAIRSIZE] = {"USD","EUR","GBP","CHF","CAD","AUD","JPY"};
string aOrder[ORDER] = {"BUY ","SELL "};
//+------------------------------------------------------------------+
// 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
{
//----
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
if (AccountIsIBFXmini)
mySymbol = aPair[index];
else
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[USD] = NormalizeDouble((aLookup[USDJPY]+aLookup[USDCHF]+aLookup[USDCAD]+aStrength[EURUSD]+aStrength[GBPUSD]+aStrength[AUDUSD])/6,1);
aMeter[EUR] = NormalizeDouble((aLookup[EURUSD]+aLookup[EURJPY]+aLookup[EURGBP]+aLookup[EURCHF]+aLookup[EURAUD])/5,1);
aMeter[GBP] = NormalizeDouble((aLookup[GBPUSD]+aLookup[GBPJPY]+aLookup[GBPCHF]+aStrength[EURGBP])/4,1);
aMeter[CHF] = NormalizeDouble((aStrength[USDCHF]+aStrength[EURCHF]+aStrength[GBPCHF])/3,1);
aMeter[CAD] = NormalizeDouble((aStrength[USDCAD]),1);
aMeter[AUD] = NormalizeDouble((aLookup[AUDUSD]+aStrength[EURAUD])/2,1);
aMeter[JPY] = NormalizeDouble((aStrength[USDJPY]+aStrength[EURJPY]+aStrength[GBPJPY])/3,1);
/*
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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