The indicator compares Forex major assets strengths in real time. The algorithm calculates the currency tool strength using the price fluctuation value. It provides an easy market analysis and allows creating a successful trading strategy applying the strongest currency pair.
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Buy the Currency Strength Indicator to compare currency pair strengths.
Works on MetaTrader 4®
MetaTrader®, MetaTrader 5®, MT4®, MT5® are the registered trademarks of MetaQuotes Software Corp. | 4xDev.com is not associated with MetaQuotes Software Corp.
$ 90$ 49
The indicator uses all currencies for calculation. It displays them on the chart by default. You can customize the currency list by organizing the currency display on the indicator panel. The indicator supports the following currencies: AUD, CAD, CHF, EUR, USD, JPY, GBR, NZD. When the indicator is launched, all currency pairs applying for calculations are added to the terminal automatically.
There are two operating modes:
The currency strength is represented in the numerical equivalent in the Total Strength mode. The higher the currency value is, the more relevant it is to trade. The maximum strength value is nine, and the minimum one is zero.
You can track down the relationship of one strength to another in the Cross Strength mode. The left column represents the major currency, and the top row displays the currency for comparison. When you click on the table data, a currency pair chart opens in a new pop-up window (the value is highlighted in a golden hue). In this mode:
Strong — the major currency is stronger;
Weak — the major currency is weaker;
Equal — the currency values are equal or close to each other (you can adjust the deviation using the Deviation parameter).
Moreover, you can enable the trend line display of the selected currency. It is crucial to provide an accurate profile analysis of the given trading tool. These calculations are based on the chart timeframe with the added indicator.
Indicator basic mode calculations and trend line indicators may differ. Everything is calculated based on symbol data that the indicator obtains in real time in the basic mode. Trend lines are calculated based on the current chart timeframe or Moving Average indicator calculations.
The trend mode is the additional filter to analyze the currency tool relevance.
Currencies — the currencies that will be calculated;
Mode — the indicator display mode selection;
Deviation — the minimum difference in the currency strength to determine the superiority of one over another;
Refresh Rate — the indicator data refresh rate (per second);
Show Trend Lines — the trend lines display for currencies entered in the Currency field;
Trend Lines Width — the thickness of trend lines.
The following eight paragraphs are responsible for the currency line color.
Total Strength Mode
Cross Strength mode
Show Trend Lines parameter is enabled
Here is what you need to run this indicator:
A computer capable of running MetaTrader 4® desktop version;
MetaTrader 4® installed on your desktop or laptop computer.
What is your refund policy? All sales are final since downloadable products cannot be returned. Please be sure that you are using MetaTrader 4® before buying. If you are having issues with your indicator, please contact 4xDev Support, and we will be happy to help you.
Will it work with my broker? This indicator will work with any broker that uses the MetaTrader 4® platform.
Should I use a demo account? It is highly recommended that you use this indicator in a demo account before you trade live. Then you will get a feel for how it works.
Can this indicator be used on more than one computer? Yes, you are allowed to use the indicator on any computer you own.
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