I've been working with currency strength for several years, and no indicator fit my way of thinking about trading order and philosophy. I decided to create an expert advisor (EA) capable of detecting the strength of a currency within all currencies, so I created the MT5 EA "Multi_Scanner Score IBD v4.22." This EA is also capable of doing the same with stock CFDs and others; in this version, it's only for "FOREX." It calculates an overall weighted score and a percentile ranking for each instrument. The result is what you see. It's fully configurable and adapts to any type of trader, whether momentum or not; you just need to configure it to your liking.

Note: When you put it on the chart, be patient, as it takes a few seconds to load. This process can be done faster with an indicator I have, but with the EA, it's better, especially for the future, to automate a system based on this EA.

Here's some general information and the EA.

I hope you like it; let me know how it goes.

The EA is called "Multi_Scanner Score IBD_v4.22 (FOREX)". It is a multi-timeframe scanner that analyzes 28 currency pairs (majors, minors, and exotics) and assigns them a relative strength score based on the IBD (Investor's Business Daily) system.

Main Features:

Multi-Timeframe Analysis: Evaluates four timeframes: W1, D1, H4, H1.

Relative Strength Score: Calculates a weighted overall score (1-99) for each pair.

Real-Time Ranking: Ranks pairs from strongest to weakest.

Continuous Update: Updates every 15 seconds.

Visual Interface: Displays a table on the chart with intuitive colors (green, yellow, red) to identify strength.

Easy to Use: Click on the symbol to open its chart.

Specific Forex Settings (default):

Timeframes: W1, D1, H4, H1

Lookbacks: 1, 25, 60, 36 (periods for each TF)

Weights: 25%, 30%, 20%, 25% (weight of each TF in the score)

28 Currency Pairs: Includes majors, minors, and exotics.

Benefits for Forex Traders:

Identifies the strongest and weakest pairs in real time.

Helps find momentum and rotation opportunities between currencies.

Multi-timeframe confirmation for entries and exits.

Ideal for day trading, swing trading, and carry trading.

Summary:
Professional Forex relative strength scanner, based on the IBD method, which analyzes 28 pairs across 4 timeframes and ranks them with a score from 1 to 99. All in a visual table updated every 15 seconds.

EXCLUSIVE FOREX-SPECIALIZED SCANNER

OPTIMIZED CURRENCY SETTINGS:

Timeframes: W1, D1, H4, H1 (Less and more can be configured)
Lookbacks: 1, 25, 60, 36 periods
Weights: 25%, 30%, 20%, 25%
Update: 15 seconds
28 Pairs: Majors + Minors + Exotics (More or less can be set)

IMPROVED VISUAL INTERFACE:
Real-time table with ranking from 1 to 99
GREEN: Score > 70 (Strong pairs)
YELLOW: Score 40-70 (Medium pairs)
RED: Score < 40 (Weak pairs)
Direct buttons to open charts

TECHNICAL FEATURES:
IBD Enhanced Forex System
Weighted Multi-Timeframe Analysis
Momentum Detection in Forex
Percentile Ranking (1-99)
Smart Filters by Instrument Type

PRACTICAL FOREX APPLICATIONS:
Identify currencies with the greatest bullish/bearish momentum
Detect rotations between currency pairs
Confirm multi-timeframe setups
Carry trade and swing trading strategies
Analyze relative strength between currencies

EXCLUSIVE ADVANTAGES:
100% Forex-Specialized
Currency-Optimized Settings
Simultaneous Analysis of 28 Currency Pairs
Intuitive and Professional Interface
Ideal for Serious Forex Traders