_xMeter_mini_v1.1

Author: x Meter System� �GPL

System Overview

The Price Meter System is a visual monitoring tool designed to track and display the relative strength of major global currencies in real-time. Instead of looking at individual charts, this script aggregates data from multiple currency pairs to provide a "snapshot" of how each specific currency is performing against the rest of the market.

How the Logic Works

The system operates through a continuous cycle of data collection, calculation, and visual updating. Here is the step-by-step breakdown of that logic:

1. Data Collection The script constantly monitors 12 different major currency pairs (such as EURUSD, GBPJPY, USDCAD, etc.). For every pair, it identifies three key pieces of information:

The highest price reached today.
The lowest price reached today.
The current live market price.

2. Performance Evaluation Once the data is collected, the system calculates the "Range" (the distance between today's high and low) and the "Ratio" (where the current price sits within that range).

If a currency is trading near its daily high, it is considered relatively strong.
If it is trading near its daily low, it is considered relatively weak.

3. Strength Scoring The system converts these ratios into numerical grades using a predefined scale. It then calculates an overall "Strength Score" for each of the seven major currencies (USD, EUR, GBP, CHF, CAD, AUD, and JPY).

To ensure accuracy, the score for a single currency is derived from its relationship with several other currencies. For example, the strength of the US Dollar (USD) is calculated by averaging its performance across multiple pairs where it is the primary driver.

4. Visual Representation (The "Meter") The final scores are used to update a visual meter on your trading platform:

Dynamic Gauges: Each currency has its own dedicated section on the display.
Color Coding: The meters use a heat-map style color system. As a currency's strength score increases, the bars change colors—moving from Red (weak) through Orange, Gold, and Yellow-Green toward Lime (strong).
Live Updates: The system is designed to refresh these values every second, ensuring that as market volatility shifts, the meters reflect the current "power balance" of the currencies instantly.

Summary for the User

Essentially, this tool takes complex market data from 12 different pairs and simplifies it into a single visual dashboard. It allows you to see at a glance which currencies are dominating the market and which are retreating, helping you identify broader trends without having to manually analyze multiple charts simultaneously.

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_xMeter_mini_v1.1

/*
!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

//+------------------------------------------------------------------+
//     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[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);
  }

_xMeter_mini_v1.1

System Overview

How the Logic Works

Summary for the User

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