IX Power - Complete Guide
This guide covers everything you need to get IX Power running and integrated into your trading workflow. IX Power is the sister product of FX Power NG, designed specifically for non-forex instruments like indices, metals, and crypto.
Setup & First Steps
- Open a chart of the instrument you want to analyze (e.g., US30, DAX40, BTCUSD, XAUUSD).
- Drag IX Power onto the chart. It appears in a separate subwindow below the main chart.
- The indicator automatically detects the chart symbol and starts calculating its relative strength.
- No additional symbol configuration is needed for basic use.
Unlike FX Power NG which shows 8 currency lines simultaneously, IX Power displays a single line representing the power index of whatever instrument is on your chart. It is always in "chart focus" mode.
Key Differences from FX Power NG
Before diving into the parameters, understand what IX Power does differently:
- One line, not eight. IX Power shows the strength of one instrument relative to its own historical performance.
- No Delta. There is no delta line or delta calculation.
- No Symbols panel. The secondary panel with pair comparisons is not available.
- No cross alert. Since there is only one line, currency crossing alerts do not apply.
- MT5 only. IX Power is exclusively available for MetaTrader 5.
Key Parameters
Calculation Mode
Works identically to FX Power NG. The mode sets the time window for strength measurement.
| Mode | Best For |
|---|---|
| H1-H2 | Scalping on indices or crypto |
| H4-H8 | Day trading (H8 is the default) |
| D1 | Swing trading |
| W1+ | Position trading, macro view |
Important: If you use both IX Power and FX Power NG (e.g., for Gold trading), set them to the same calculation mode so the readings are comparable.
Custom Mode
Select "Custom" as the calculation mode, then configure:
- Custom mode, base period: Your time unit (Hours, Days, etc.)
- Custom mode, period(s) count: Number of units
If you select Custom but forget to set the base period, you will get the error "Custom calculation mode must be defined."
Alias Function
Brokers often use unusual symbol names (e.g., "GERNIDEX" instead of "DAX40", or "US30.cash" instead of "Dow Jones"). The Display alias parameter lets you replace the broker name with something readable.
Set "Display alias rather than symbol's name" to your preferred name (e.g., "DOW" or "DAX"). This changes only the panel display, not the calculation.
Multi-Instance Setup
Like FX Power NG, you can run multiple instances on the same chart with different calculation modes. Give each a unique Instance ID. For example, run H4 (Instance ID 1) and D1 (Instance ID 2) on the same DAX chart to see short-term and medium-term strength side by side.
Understanding the Display
The Power Line
- Positive values: The instrument has gained strength in the selected time window
- Negative values: The instrument has lost strength
- Zero: Neutral, no significant movement
- Values above +20: Very strong, potential trend continuation or overbought warning
- Values below -20: Very weak, potential short opportunity or oversold warning
The Panel
The panel shows the current power value for the chart instrument. It is simpler than FX Power NG's panel since there is only one instrument to display. Use the header button to minimize or reposition the panel.
Heatmap Background
Enable "Show background heatmap" to add a color-coded background to the subwindow. Green shading indicates strength, red indicates weakness. This is purely visual and does not change the calculation.
Alerts
IX Power has two alert types (compared to FX Power NG's five):
| Alert Type | Default Threshold | What It Detects |
|---|---|---|
| Strength alert | +20 | Instrument rising above the threshold |
| Weakness alert | -20 | Instrument falling below the threshold |
Each alert supports two modes:
- at current candle: Real-time, may repaint
- at last closed candle: Confirmed, no repaint (recommended)
You can configure alert time schedules with up to 3 daily sessions and weekday filters, just like in FX Power NG.
Practical Tips
Combining IX Power with FX Power NG for Gold Trading
This is one of the most effective setups for XAUUSD traders:
- Open a XAUUSD chart
- Add IX Power - this shows Gold's own strength
- Add FX Power NG on the same or another chart - check USD strength
- Set both to the same calculation mode (e.g., H8)
The trading logic:
- Strong Gold (IX Power positive) + Weak USD (FX Power shows USD low) = favorable conditions for XAUUSD long
- Weak Gold + Strong USD = favorable conditions for XAUUSD short
- Both strong or both weak = mixed signal, proceed with caution
Comparing Multiple Indices
IX Power shows only the chart symbol, so to compare multiple indices you need multiple charts. Open separate charts for DAX, S&P500, and NASDAQ, each with an IX Power instance using the same calculation mode. This lets you spot which index is leading or lagging.
Performance on VPS
If you run IX Power on a VPS or slow machine:
- Reduce "History bars to calculate" to 500 or less
- Disable the heatmap background
- These changes do not affect current readings, only how far back the history line extends
iCustom Integration (For Developers)
IX Power exposes only Buffer 0, which contains the power index of the chart symbol. This makes integration straightforward.
File path for Market version: Market\IX Power MT5.ex5
Common Issues
- "Terminal max bars" warning: Increase "Max bars in chart" in MetaTrader settings (Tools > Options > Charts) or reduce "History bars to calculate".
- "Custom calculation mode must be defined": You selected Custom mode but did not configure the base period and count.
- Wrong values after symbol switch: Fixed in version 1.10. Update to the latest version.
- "Invalid IX Power handle" in EA: The indicator file is not found. Verify that "IX Power MT5.ex5" exists in the Market folder and the path in your EA is correct.
- Indicator only shows data for the current chart: This is by design. IX Power always focuses on the chart symbol. Use separate charts for different instruments.