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

The Currency Power Index (CPI) indicator oscillates in MetaTrader 5 (MT5) based on correlation analysis. This tool enables traders to identify the relative strength of the base currency against various symbols. The CPI indicator provides traders with a more accurate insight into market trends by utilizing 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 indicator helps traders identify changes in the base currency's strength by analyzing fluctuations above or below the 0 line. Additionally, the CPI analyzes positive and negative correlations between symbols.

Negative correlation

The 4-hour XAGUSD chart shows an increase in silver prices as the US dollar weakens. This movement underscores 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) indicates a weakening of the CAD currency, suggesting a positive correlation between the Canadian dollar and oil.

Indicator Settings

• Select the currency for Calculate Power: Set the currency type
• Methods of calculation: Set the method of calculation
• Rate of Short Moving Average: Set the value of the short moving average
• Rate of Long Moving Average: Set the value of the long moving average
• Rate of Change: Set the percentage of change
• Number Of Candle For Calculate Currency: Set the calculation based on the number of previous candles
• Number Of Previous Candles: Calculate from which candle in the past
• The average range from the output: Set the output percentage of the moving average
• MA_Short_Period: Set the short moving average period
• MA_Long_Period: Set the long moving average period
• Price: Set the calculation type based on the price

Summary

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