The FCPI Indicator, otherwise known as Forex Currency Power Index, is a multi-currency pairs indicator designed to optimize Forex trading. It features an impressive array of 28 currency pairs, consisting of 8 Major Pairs and 20 Cross pairs. The major pairs include EURUSD, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF, and USDJPY, among others. The indicator automatically detects symbols that bear a symbol prefix and/or a symbol suffix.

Unique Calculation Methods

The FCPI Indicator utilizes a unique calculation method to scan the forex market and identify the strongest extreme currency strength versus the weakest extreme currency strength. To accomplish this, the indicator provides two options for calculation formulas: Price Power and ADX Power.

The default selection for the calculation formula is Price Power. The options can be selected using a drop-down menu. The accuracy of these calculations and identification of currency strength is reportedly 100 percent, depending on the speed of price changes, particularly on the Low Timeframes M1-H1.

Identifying Extreme Currency Strengths

Apart from its unique calculation formulas, the FCPI Indicator also offers two modes for identifying extreme currency strengths: Extreme and Side Extreme. Like the calculation formulas, these options can also be selected from a drop-down menu, with Extreme being the default selection.

The results of the calculations and identification of currency strengths are represented in two distinct colors: blue indicates the strongest extreme currency strength, while red represents the weakest extreme currency strength. These colors can also be customized using a drop-down menu.

Timeframes and Forex Strategies

The FCPI Indicator functions across 21 Timeframes, ranging from M1 to MN1, which can be selected by simply clicking the Timeframe period on the MT5 indicator panel. This feature contributes to the versatility of the tool, allowing it to be used for various forex strategies, including both scalping and day trading.

The blue color in the indicator corresponds to the BUY signal, while the red color signifies the SELL signal for the respective pair. To view the calculation results and identify extremum currency strength, users only need to click on the name of the red or blue pair. The chart symbol and timeframe will then adjust accordingly.

FAQs

Where can I test the FCPI Indicator for MT5?

Users can conduct independent testing of this product on the forexroboteasy.com website.

Can I subscribe for updates on the product testing?

Yes, you can subscribe to updates on the results of testing this product.

Can I share my experience using the FCPI Indicator?

Definitely! We encourage users to share their experiences with this product.

This article presents an independent review of the FCPI Indicator for MT5. It is not associated with the product creators. The FCPI Indicator serves as a valuable tool for forex traders looking to optimize their trading strategies and improve their market analysis.