Currency Power Index (CPI) Indicator for Meta Trader 4 Download - Free - [Trading Finder]

The Currency Power Index (CPI) indicator is an oscillator based on MetaTrader 4 (MT4) correlation. The CPI indicator helps traders identify the relative strength of a base currency compared to various symbols through correlation analysis and data, enabling them to make better trading decisions.

Indicator Table (CPI)

Negative Correlation

In the 15-minute chart of XAGUSD, the Commodity Channel Index (CCI) indicates that the US Dollar's strength is increasing while the price of silver is decreasing. This movement demonstrates a negative correlation between the silver symbol and the US Dollar.

Positive Correlation

On the 30-minute chart (WTI), the strength of the Canadian dollar is weakening. Simultaneously, the price of oil is also trending downward. This indicates a positive correlation between the Canadian dollar and oil price.

Indicator Settings

• Select the currency for Calculate Power: Select the currency type
• Methods of calculation: Choose the calculation method
• Rate of Short Moving Average: Set the short moving average value
• Rate of Long Moving Average: Set the long moving average value
• Rate of Change: Percentage of change
• Number Of Candles for Calculate Currency: Choose the number of candles for calculation
• Number Of Previous Candles: Number of candles to look back
• The average range from the output: Percentage of the moving average output
• MA_Short_Period: Short moving average period
• MA_Long_Period: Long moving average period
• Price: Select the price type for calculation

Summary

When the currency strength index (CPI) oscillator is above the 0 level, the base currency's strength has increased. Conversely, when the CPI falls below the 0 level, it signifies a decrease in the base currency's strength.