What is LuxAlgo – Currency Strength?
LuxAlgo – Currency Strength plots several currency-strength lines in one MT4 subwindow. Each currency has its own color, making it possible to compare the currencies themselves rather than judging every pair from price candles alone.
The example displays USD, EUR, GBP, JPY, and AUD. A gray vertical marker identifies the start of a new MT4 trading day.
How to use LuxAlgo – Currency Strength
A rising line suggests improving relative strength, while a falling line suggests weakness. When lines are tightly crossed, leadership is unclear; when they separate, a strong-versus-weak pairing may become easier to identify.
Use the panel for market selection before looking for an entry. For example, a strong base currency paired with a weak quote currency can support the direction already visible on the price chart. Confirm the idea with structure rather than trading line crossings alone.
Where it helps
See whether a pair is moving because one side is strong, the other is weak, or both.
Strength separation can help prioritize pairs with clearer relative momentum.
Check broad currency behavior before acting on a short-term signal.
Best Settings & MT4 Parameters for LuxAlgo – Currency Strength
- Display
- Selects the strength calculation/display mode.
- Timeframe
- Sets the analysis horizon, shown as 1 Day in the example.
- Symbol Prefix / Suffix
- Adapts pair names to the broker’s naming convention.
- Currency A–E
- Chooses up to five displayed currencies.
- Currency colors
- Assigns a separate line color to each currency.
- Show Strength Meter
- Displays the optional strength meter.
- Strength Meter Resolution
- Controls meter detail; the example uses 20.
- Dashboard location / size
- Positions and scales the on-chart panel.
- Scatter Graph resolution
- Controls scatter-plot detail.
- Strong / Improving / Weakening / Weak colors
- Customizes state colors.
How to Install .ex4 Indicator in MetaTrader 4
- Download the ZIP file and extract it.
- In MT4, select File → Open Data Folder.
- Open MQL4 → Indicators and copy the EX4 or MQ4 file into it.
- If the package includes library files, copy them to MQL4 → Libraries. Copy TPL files to the top-level templates folder.
- Restart MT4, find the indicator in the Navigator, and drag it onto a chart.
Test the tool on a demo account first. File contents and required folders can vary between packages.
