Group Relative Strength Meter
A symbol's raw percentage move does not say whether it is genuinely standing out or simply moving with everything else in its group that day. Comparing it against a single reference symbol answers a narrower question than comparing it against its whole peer group, and comparing it against the group AVERAGE has its own trap - one outlier in the group (a news-driven spike in a single pair) can drag a mean-based benchmark with it, making the whole group look like it moved when only one member did. This indicator uses the MEDIAN of the peer group's percentage changes instead of the mean, specifically to resist that single-outlier distortion, then plots the chart symbol's own percentage change minus that group median. A rising line means the chart symbol is out-performing the typical (median) member of its own peer group; a falling line means it is lagging - independent of whether the group as a whole is up or down. The peer group itself is plain user input (a comma-separated symbol list) so the same indicator serves a majors group, a metals group, an indices group, or any other grouping the trader defines, rather than assuming one fixed classification. Notes and limitations Group members with insufficient history are excluded from that bar's median rather than counted as a false 0% change; if every group member lacks history, or the chart symbol itself lacks history, that bar plots no value at all. History depth is capped on first calculation (1000 bars) to bound recomputation cost. The median is computed by a simple insertion sort per bar, which is intentionally simple rather than optimised - peer groups here are expected to be a handful to a few dozen symbols, not thousands.
Indicator · MT5 · v1.0 · Free
About Group Relative Strength Meter
Group Relative Strength Meter is an indicator for MetaTrader 5. It can alert you with a pop-up, sound, email or push message. It has 5 settings, such as Group symbols, Timeframe and Lookback bars. MQL source code included.
Files in the download: GroupRelativeStrength.ex5, GroupRelativeStrength.mq5, GroupRelativeStrength.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Group symbols | EURUSD,GBPUSD,USDJPY,AUDUSD,USDCHF,USDCA | Comma-separated peer group (broker names, no spaces) |
| Timeframe | PERIOD_H1 | Timeframe the percentage change is measured on |
| Lookback bars | 24 | Bars back the percentage change is measured over |
| Include chart symbol | true | Include the chart's own symbol in the group median if it appears in the list |
| Alert on cross | false | Alert once when the chart symbol crosses above/below the group median |
How to install
- Download the ZIP from your PolyMaria library and unzip it.
- In MetaTrader 5 open File → Open Data Folder, then go to MQL5 → Indicators.
- Copy the .mq5 file(s) there. Put any .mqh files in MQL5 → Include.
- Open the .mq5 file in MetaEditor and press Compile (F7) if MetaTrader does not show it.
- Drag the indicator from the Navigator onto a chart and adjust the settings.
Tags: Currency Strength · News Trading · Alerts · MT5 Indicator · MQL5 Source Code