FX Order Flow MT5

This powerful tool is engineered to transform the way traders analyze currency strength. Built for every experience level, it offers clear, actionable guidance on when to trade and in which direction. Its versatility extends across all currency-related symbols, including gold (XAU/USD) and bitcoin (BTC/USD). By delivering deep, data-driven insights, it empowers traders to make smarter, more confident decisions.

Whether you're a beginner or a seasoned professional, this indicator equips you with the clarity and confidence to navigate the currency market effectively.

The model is based on two key moving averages—a fast 5-period EMA and a slow 10-period EMA—used to classify the trend direction of each currency pair as bullish, bearish, or neutral. While these settings are customizable, the default configuration is generally recommended. The 5-period EMA represents roughly one week of trading, while the 10-period EMA reflects about two weeks—both widely accepted intervals for analyzing order flow.

To evaluate the strength of a specific currency (e.g., EUR), the indicator analyzes all currency pairs that include it (such as EUR/USD, EUR/JPY, EUR/CAD, etc.). For each pair, the moving averages are assessed as follows:

• Rising → +1

• Falling → -1

• Flat → 0

For example, if the EUR/USD moving averages are rising, EUR receives a +1.

The scores are then summed to produce an overall strength score. For EUR, this ranges from -7 to +7, reflecting its relative performance against the seven other major currencies. If more currencies are included in the analysis, the range expands accordingly—for instance, comparing EUR against eight currencies would yield a range of -8 to +8.

Finally, the indicator compares the strongest currency against the weakest and categorizes the strength level:

• +5 or higher → Very Bullish: EUR is outperforming most or all other majors

• +1 to +4 → Bullish: Moderate buying pressure

• 0 → Neutral: Minimal directional bias

• -1 to -4 → Bearish: Moderate selling pressure

• -5 or lower → Very Bearish: EUR is underperforming across the board

The results are displayed on a panel, while a histogram tracks the historical strength over time.

Parameters

• Histogram Bars: 1000

• Symbols: ← Insert assets here

• Time Frame: Current (1 Minute to Monthly)

• Fast MA: 5

• Slow MA: 10

• MA Type: Simple/Exponential/Smoothed/Linear Weighted

• Panel Font Size: 12

• Sound for Update: tick.wav

• Broker Suffix:

• Very Bullish: ForestGreen

• Bullish: LimeGreen

• Neutral: Gainsboro

• Bearish: Salmon

• Very Bearish: Red