Currency Power Index (CPI) Indicator Download for Meta Trader 5 – Free – [Trading Search]

The Currency Power Index (CPI) Oscillations in the MetaTrader 5 indicator based on correlation analysis. This Technical analysis tool enables traders to identify relative strength of the base currency against various symbols . The CPI indicator provides traders with more accurate market trend insights into correlation data.

Indicator table (CPI)

Indicator function (CPI)

The Currency Power Index (CPI) is a correlation-based oscillator that measures the relative strength of a base currency against various symbols . This trading tool helps traders identify changes in base currency strength by analyzing fluctuations above or below the 0 line. Furthermore, CPI analyzes positive and negative correlation between symbols.

negative correlation

The 4-hour XAGUSD chart shows increasing silver as the dollar weakens and prices rise. This movement highlights the negative correlation between the silver symbol and the US dollar .

Positive correlation

On the 4-hour chart (WTI) , the oil price is exhibiting a downward trend. Simultaneously , the Commodity Price Index (CPI) indicated a weakening of the CAD currency , indicating a positive correlation between the Canadian dollar and oil.

Indicator Settings

• Select currency for computing power: Set currency type
• Calculation method: Set calculation method
• Short Moving Average Ratio: Sets the value of the short-term moving average
• Long Moving Average Ratio: Set the value of the long moving average
• Rate of Change: Set the change percentage
• Number of candles used to calculate currency: Set calculation based on the number of previous candles
• Number of previous candles: count which candle in the past
• Average range of output: Set the output percentage of the moving average
• MA_Short_Period: Set the short-term moving average period
• MA_Long_Period: Set the long-term moving average period
• Price: Set calculation type based on price

Conclusion

When the Currency Strength Index (CPI) Metatrader5 trading assistant indicator moves above or below the 0 line, it indicates an increase or decrease in strength of the base currency . The CPI indicator can identify positive and negative correlations between different symbols on a chart.