Strength Divergence Finder
Currency-strength meters rank the eight majors (USD, EUR, GBP, JPY, AUD, NZD, CAD, CHF) by averaging each currency's signed percentage contribution across the 28 pairs that connect them - a standard way to turn a web of pairwise moves into one comparable score per currency. This indicator builds that same index every bar, then does one extra step most strength meters leave to the trader: it takes the CHART symbol specifically, works out what its move "should" have been given the strength gap between its own base and quote currency (strong base plus weak quote implies the pair should be rising, and vice versa), and compares that against what the pair actually did over the same lookback. When the two disagree - the pair moved one way while its own currencies' broader strength said it should have moved the other - that is flagged as a divergence. This typically means the move is concentrated in that one pair rather than reflecting a currency-wide trend: worth knowing before assuming a breakout on one chart is part of a broader currency move, when the strength index says the opposite is happening everywhere else that currency trades. The chart symbol must itself be one of the 28 major pairs (built from two of the eight tracked currencies); anything else - an exotic, a metal, an index - is refused cleanly at OnInit rather than guessed at. Notes and limitations - The strength index needs all 28 major-pair feeds selectable from the broker; any pair the broker does not offer drops out of that currency's average rather than stopping the indicator, and is logged once to the Experts tab. - A divergence flag is descriptive, not predictive - it says the pair is currently out of step with its currency-strength backdrop, not which side will "win" or when the gap will close. - Only major pairs built from the eight tracked currencies are supported on the chart symbol itself; crosses through a currency outside that set, metals, and indices are refused at OnInit.
Indicator · MT5 · v1.0 · Free
About Strength Divergence Finder
Strength Divergence Finder is an indicator for MetaTrader 5 based on Divergence. It can alert you with a pop-up, sound, email or push message. It has 9 settings, such as Timeframe, Lookback bars and Divergence threshold. MQL source code included.
Files in the download: StrengthDivergenceFinder.ex5, StrengthDivergenceFinder.mq5, StrengthDivergenceFinder.txt.
Settings
| Setting | Default | What it does |
|---|---|---|
| Timeframe | PERIOD_H1 | Timeframe the strength index and pair move are measured on |
| Lookback bars | 24 | Bars back the percentage change / strength gap is measured over |
| Divergence threshold | 0.15 | Minimum |strength gap| (%) required before a disagreement counts |
| Symbol suffix | Broker suffix appended to every major pair (e.g. ".pro"), leave blank if none | |
| Alerts | true | Alert once per new closed bar when a divergence is flagged |
| Corner | CORNER_LEFT_UPPER | Panel corner |
| X distance | 10 | Panel horizontal offset, pixels |
| Y distance | 20 | Panel vertical offset, pixels |
| Font size | 10 | Panel font size |
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: Divergence · Currency Strength · Alerts · MT5 Indicator · MQL5 Source Code