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Euro Strength Index Pro is a custom Mt4 indicator that gauges the Euro’s relative strength across seven major Forex pairs (EURUSD, EURGBP, EURJPY, EURCHF, EURAUD, EURCAD, EURNZD) with equal weighting.

It computes the percentage change over a configurable LookbackPeriod (default 14 bars) for each pair, averages these moves into a single raw ESI value, and then applies two successive EMAs: one to smooth the raw index over SmoothPeriod (default 5) and another to generate a SignalLine over SignalPeriod (default 5).

Positive and negative values are plotted as a green/orangered histogram, while the smoothed ESI and its signal line (gold and blue) are drawn as optional lines in a separate window.

How to use

Attach to any chart; it auto-selects the seven EUR pairs.
Adjust inputs:
- LookbackPeriod controls sensitivity to recent price moves.
- SmoothPeriod and SignalPeriod tune the pace of EMA smoothing and trigger responsiveness.
- MaxBarsToProcess limits history depth for performance.
Interpret signals:
- When histogram bars rise above zero, the Euro is strengthening; below zero indicates weakening.
- A bullish (sell EUR) crossover occurs when the smoothed ESI falls below its signal line; a bullish (buy EUR) signal is generated when it crosses upward.
EnableAlerts to pop up MQL5 alerts on live crossovers at each new bar.
Combine with trend filters or multi-time-frame analysis for confirmation and improved reliability.

By downloading or installing any Indicators, you acknowledge that you have read, understood, and agreed to be bound by the Terms and Conditions.

Download Euro Strength Index Pro

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