Multi-Currency Pair Indicator - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

The author is a researcher and is studying the stock and foreign exchange markets. This indicator has been tested extensively on historical data, but there is no guarantee that past performance will be indicative of future results.

This indicator looks at major currency pairs to find out the current candlestick status (bullish or bearish) of USD, EUR, and GBP against other currencies such as EUR, JPY, GBP, CHF, AUD, and CAD.

For example, if all boxes in the USD row are red, it means that the USD current candle is weak or bearish relative to all other major currencies. The same approach can be used to analyze GBP and EUR candles. The column reads in the opposite direction.

For example, if all the boxes in the CHF are green, it means the CHF is bearish against the EUR, GBP, and USD. This indicator is best used in conjunction with other indicators such as moving averages, Bollinger Bands, support and resistance levels.

suggestion:

This indicator has two main parameters:

HistoryShift: If 0, it represents the current candle. To trade, you should set it to 0. If you want to test the previous performance of this indicator, you should change this number. For example, if you enter 10, the indicator will return 10 candles.

DrawVline: This will draw a vertical line matching the HistoryShift parameter

I would be very interested in your feedback, suggestions for improvements, and collaboration on improving the metrics.

Attachment download

📎 MCP.mq4 (12.32 KB)

Source: MQL5 #10575