There are many ways to use the currency strength meter in your trading, and they all depend on your trading style. How to trade FX with the Currency Strength Meter? Any changes will be displayed when you refresh the page. Our site checks forex data every minute in real-time and determines the strength. If you are a long-term trader, you need monthly values. If you are an intraday trader, you need more recent data. It allows us to determine, for example, whether the US dollar is strengthening or weakening, which is always essential to know.Īnother thing to note is that a particular currency's strength is always determined by the timeframes you set for it.įor example, EUR can be solid for today's timeframe, but it is one of the weakest on the list in monthly analysis.ĭepending on your Forex trading style, you may need to look at other time frames. The basic idea of the strength meter is to think of it as a 'filter' in decisions.

Calculate the relative strength of each paired currency.

Match the base currency with all available Forex pairs.

Let's look at how this technical indicator works and how it can help traders make informed trading decisions. It's a quick way for Forex traders to see whether market conditions positively or negatively affect their positions. Those who don't know what currency meters do - they measure main currencies' strengths in the Forex market (USD, GBP, EUR, CHF, JPY, CAD, NZD, and AUD) by comparing all 28 crosses between them. Usually, the data obtained as a result of calculations are displayed as a chart. The algorithm looks at the previous 24 hours to calculate overall strength and combines all currency pairs associated with a currency.

In addition, our calculation method shows the direction of the change (pointed with arrow close to the name of the currency). Simple meters may not use weighted calculations, while more advanced, like this one, use their weighting factors. Realtime exchange rates are used to measure the aggregate, comparable strength. Also can be found online at sites like this one.

It exists for MT4, MT5, and other trading platforms. What is a Currency Strength Meter or CS Indicator?Ĭurrency Strength Meter is a technical indicator that determines the relative strength of currencies.

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