!xMeter_v1
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This script functions as a real-time visual "Price Meter" for the Forex market. It is designed to give traders a quick, bird's-eye view of the relative strength and performance of various major currencies by monitoring multiple currency pairs simultaneously.
Core Logic Overview
The script operates on a continuous loop, constantly refreshing data from the market to calculate and display the "power" of seven primary currencies: USD, EUR, GBP, CHF, CAD, AUD, and JPY.
Here is the step-by-step breakdown of how it processes this information:
1. Data Collection The system monitors a specific set of 12 major currency pairs (such as EURUSD, GBPUSD, USDJPY, etc.). For every pair in this list, the script captures four key pieces of data in real-time:
- The highest price reached today.
- The lowest price reached today.
- The current "Bid" price.
- The current "Ask" price.
2. Performance Calculation Once the data is collected, the script performs a series of mathematical calculations for each pair:
- Range: It determines how much the currency pair has moved between its high and low points today.
- Ratio: It calculates where the current price sits within that daily range. This tells the system if the currency is currently trading near its daily high, daily low, or somewhere in the middle.
- Grading: The script converts these ratios into a numerical "grade." This grade represents the immediate strength of the currency based on its performance during the current trading session.
3. Weighted Averaging Rather than looking at just one pair to determine a currency's strength, the script aggregates the grades from all relevant pairs. For example, to determine the strength of the Euro (EUR), it combines the data from several different pairs involving the Euro and averages them. This provides a more balanced and accurate "Meter" reading for each individual currency.
4. Visual Representation (The Dashboard) The final result is displayed as a visual dashboard on your trading chart. Each major currency has its own dedicated bar/meter:
- Color Coding: The bars change color dynamically based on the strength value. Higher strength levels transition through colors like Red, Orange, Gold, Yellow-Green, and finally Lime (the strongest).
- Numerical Value: Next to each currency name, a specific number is displayed representing its calculated power score.
- Real-Time Updates: The script refreshes this entire calculation every second, ensuring that the visual meters move in harmony with live market fluctuations.
Summary of User Experience
For the user, this tool acts as a "heat map" for the Forex market. Instead of checking dozens of charts individually, you can glance at one screen to see which currencies are currently dominating the market (turning Lime/Green) and which ones are struggling (staying Red/Orange), allowing for faster decision-making in volatile trading environments.
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!xMeter_v1
/*
!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!!!
string aPair[ARRSIZE] = {"EURUSD","GBPUSD","AUDUSD","USDJPY","USDCHF","USDCAD",
"EURJPY","EURGBP","EURCHF","EURAUD","GBPJPY","GBPCHF"};
//+------------------------------------------------------------------+
// expert initialization function |
//+------------------------------------------------------------------+
int init()
{
//----
initPair();
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()
{
//----
deleteObject();
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 aMajor[PAIRSIZE] = {"USD","EUR","GBP","CHF","CAD","AUD","JPY"};
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[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
}
int initPair() // this function will initialize pair
{ // string based on type of account
int index;
if (StringFind(Symbol(),"m") == EMPTY) return(0);
for (index = 0; index < ARRSIZE; index++)
{
aPair[index] = StringConcatenate(aPair[index],"m");
}
return(0); // end of initPair function
}
void initGraph()
{
deleteObject();
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("line99",10, 6,"-----------------------------------",10,"Arial",DimGray);
objectCreate("line98",10,27,"-----------------------------------",10,"Arial",DimGray);
objectCreate("line97",10,69,"-----------------------------------",10,"Arial",DimGray);
objectCreate("sign",11,1,"»»» Price Meter System ©GPL «««",8,"Arial Narrow",DimGray);
}
//+------------------------------------------------------------------+
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 deleteObject()
{
ObjectDelete("usd_1");
ObjectDelete("usd_2");
ObjectDelete("usd_3");
ObjectDelete("usd_4");
ObjectDelete("usd_5");
ObjectDelete("usd");
ObjectDelete("usdp");
ObjectDelete("eur_1");
ObjectDelete("eur_2");
ObjectDelete("eur_3");
ObjectDelete("eur_4");
ObjectDelete("eur_5");
ObjectDelete("eur");
ObjectDelete("eurp");
ObjectDelete("gbp_1");
ObjectDelete("gbp_2");
ObjectDelete("gbp_3");
ObjectDelete("gbp_4");
ObjectDelete("gbp_5");
ObjectDelete("gbp");
ObjectDelete("gbpp");
ObjectDelete("chf_1");
ObjectDelete("chf_2");
ObjectDelete("chf_3");
ObjectDelete("chf_4");
ObjectDelete("chf_5");
ObjectDelete("chf");
ObjectDelete("chfp");
ObjectDelete("cad_1");
ObjectDelete("cad_2");
ObjectDelete("cad_3");
ObjectDelete("cad_4");
ObjectDelete("cad_5");
ObjectDelete("cad");
ObjectDelete("cadp");
ObjectDelete("aud_1");
ObjectDelete("aud_2");
ObjectDelete("aud_3");
ObjectDelete("aud_4");
ObjectDelete("aud_5");
ObjectDelete("aud");
ObjectDelete("audp");
ObjectDelete("jpy_1");
ObjectDelete("jpy_2");
ObjectDelete("jpy_3");
ObjectDelete("jpy_4");
ObjectDelete("jpy_5");
ObjectDelete("jpy");
ObjectDelete("jpyp");
ObjectDelete("line99");
ObjectDelete("line98");
ObjectDelete("line97");
ObjectDelete("sign");
}
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("line98",OBJPROP_COLOR,CLR_NONE);
ObjectSet("line97",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("line98",OBJPROP_COLOR,DimGray);
ObjectSet("line97",OBJPROP_COLOR,DimGray);
}
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