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Best Currency Strength Meter and why? 425 replies

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Currency Strength Meter

Quoting reese777
At one time an earlier version(without graphics) of the Strength Meter was free.
If someone can read an Excel spreadsheet, maybe that can make a Metatrader ex4.
I can't open it it always restart the excel file.
Forex Price Action Hacked - Price Action Rockstar
Quoting Pipsqueak4x
Here is a tool which is a nice tool for your toolbox. It's been around for a while but is very useful for looking at the strength / weakness of individual currencies. Although it displays on your chart like an indicator it is ACTUALLY A Non-trading EA (Expert Advisor) and is put into the Experts folder of MT4 and NOT the Indicators folder. It will not open or close trades as many EAs can do. (Save in c: /program files/ yourMT4folder/experts). Attach it to your charts from your Experts folder. [b]This is because the algorithm is run...
Hi,

I am an advocate of intermarket analysis. However price shows the strength n weakness of currency pair and like any indicator it shows signal after price have moved significantly by then aren't we chasing trend? Also the live meter display the strength n weakness base on the timeframe we put it?

Many thanks
It works just as well as T101 basket trading IA
Forex Price Action Hacked - Price Action Rockstar
merry christmas and happy new year ,

Mr.,

I've downloaded the meter and tried to open it many times . But , I failled to open it and error message shown to me everytime I've tried . I'm so happy if you can share the meter direct to me because many EA and indicator I've used but the result are so sad (always lost).

thanks .
I am quite new to currency trading and stumbled over the currency meter and want to apply it to my trading.

The problem is that atm I am trading with CMC markets spread betting and I cannot attach the meter to the platform.

Does anybody have a good solution for my problem?

Maybe an online currency meter?

Thanks in advance...
Quoting Papicholo
I am quite new to currency trading and stumbled over the currency meter and want to apply it to my trading.

The problem is that atm I am trading with CMC markets spread betting and I cannot attach the meter to the platform.

Does anybody have a good solution for my problem?

Maybe an online currency meter?

Thanks in advance...
Many brokers offer MT4 with free unlimited time demo accounts you can download & attach the meter to any one of their charts assuming your pc has the memory etc to run two platforms at the same time.
You'd probably want to watch the MT4 broker price action to make sure it's not lagging behind the price of your live account 1st, but if it's leading maybe a bit a good thing.

I also found an online heat map at actionforex.com but don't know if they use the same math or not.
I found this free http://www.currencystrengthmeter.com/ currency meter today.

No idea how well it works or how early you get a signal but it does show right now gbp as weak and chf strong and thats run down 125 pips. So after the event is great, how early it gave a signal will be interesting.
Hi,
I'm interested in knowing the systems you use with the strength meter. I got a strength meter, but I will like to know how other people are using it so it can better my experience.
I will appreciate it if you share.

thanks

Quoting juicyt
Thanks for replying.

I have had it for a while myself and although I have been learning to trade different ways I always feel more confident in my shorter term trades when I use the meter. Infact it is not too often I have losing trades when using it.

I never really liked Tom's system he gives with the meter though. I know it does work but I just personally didn't like it much because of a few different reasons. I used it on the 15min chart with possibly better success than the 5min chart.

What I guess I wanted to do is find out if many others...
Quoting Pipsqueak4x
Here is a tool which is a nice tool for your toolbox. It's been around for a while but is very useful for looking at the strength / weakness of individual currencies. Although it displays on your chart like an indicator it is ACTUALLY A Non-trading EA (Expert Advisor) and is put into the Experts folder of MT4 and NOT the Indicators folder. It will not open or close trades as many EAs can do. (Save in c: /program files/ yourMT4folder/experts). Attach it to your charts from your Experts folder. [b]This is because the algorithm is run...
I'm using this indicator, which I find really good. The only thing is that I would like to see how the currency strength changed over a given period of time ... Anyone has an idea where I could find such tool ?
"A goal without a plan is just a wish" - Antoine de Saint-Exupery
Quoting Pipsqueak4x
Here is a tool which is a nice tool for your toolbox. It's been around for a while but is very useful for looking at the strength / weakness of individual currencies. Although it displays on your chart like an indicator it is ACTUALLY A Non-trading EA (Expert Advisor) and is put into the Experts folder of MT4 and NOT the Indicators folder. It will not open or close trades as many EAs can do. (Save in c: /program files/ yourMT4folder/experts). Attach it to your charts from your Experts folder. [b]This is because the algorithm is run...
THIS IS ONE IMPORTANT ADVICE I HAVE EVER READ AND PUT INTO USE I SAW THE RESULTS INSTANTLY.....A BILLION THANKS Pipsqueak4x.....JAH BLESS
Hi Frodo,
How did you attach the EA to your chart? When I view the EA in the EA directory it appears greyed out and won't allow me to drag to chart.
Any ideas much appreciated.

Cheers

Quoting frodo
THIS IS ONE IMPORTANT ADVICE I HAVE EVER READ AND PUT INTO USE I SAW THE RESULTS INSTANTLY.....A BILLION THANKS Pipsqueak4x.....JAH BLESS
Downloaded and subscribed to the currency strength meter newsletter. Also known as the news profiteer indicator.

Seems like an amazing community. Daily news updates and predictions to help choose the right trades throughout the day.
For those having difficulty using the currency meter that Pipssqueak4x posted as an expert I have attached an updated version that you can apply as an indicator.


Attached File(s)
File Type: ex4 xMeter_Indicator2_updated.ex4   12 KB | 10,371 downloads
Find The Pain Points On Your Chart & Trade Off Those Levels
I don't see why anyone would buy Toms currency meter and pay a monthly fee for a data feed when we have CCFp for free which is nearly identical,
looks to me as he just copyed the the idea CCFp is built upon and trying to make a fast buck. definitely not worth the money
Bulls are stupid Animals!especially when Im short!
NinjaTrader version of Currency Strength Meter

http://img24.imageshack.us/img24/822...etterrenko.jpg
Quoting GPips
For those having difficulty using the currency meter that Pipssqueak4x posted as an expert I have attached an updated version that you can apply as an indicator.


Hi GPips

Excuse the silly question bow how is this used?

Thanks in advance

HX
Hi Highlanderx

The higher the strength of a currency on the meter shows the stronger it is against say,... one that is showing a low strength. You could assume that you would want to buy the stronger or sell the weakest against it. However, I have known those that see that scenario & would expect a reversal soon so they wait for the set up on their charts to take a reversal or pull back.

To me me it can be played either way.

Do not just use this indicator as a signal. Be sure you have other confluences in line to take the trades.

If you are interested in another meter, Henry Liu provides a free download of his version here... http://www.currencystrengthmeter.com/

Also, you can watch the video's from him to see how to use it.

G
Find The Pain Points On Your Chart & Trade Off Those Levels
Quoting GPips
Hi Highlanderx

The higher the strength of a currency on the meter shows the stronger it is against say,... one that is showing a low strength. You could assume that you would want to buy the stronger or sell the weakest against it. However, I have known those that see that scenario & would expect a reversal soon so they wait for the set up on their charts to take a reversal or pull back.

To me me it can be played either way.

Do not just use this indicator as a signal. Be sure you have other confluences in line to take the trades.

If...
Thanks for that but neither of them seem to work, they haven't changed since last night?

HX
This instant, real time currency strength meter below is a quick and simple way to view current strengths. Go to the site and select your currencies and time frame by clicking the buttons at the top:
http://newyork.wyfxco.com/currency-strength-meter.png

You do not need to refresh the page to update currency strengths. Just click whichever chart time frame button you are using and it will refresh within the page.
Quoting highlanderx
Thanks for that but neither of them seem to work, they haven't changed since last night?

HX
Mmm ... strange, they both worked for me.
Find The Pain Points On Your Chart & Trade Off Those Levels
Quoting Wyfx
This instant, real time currency strength meter below is a quick and simple way to view current strengths. Go to the site and select your currencies and time frame by clicking the buttons at the top:
http://newyork.wyfxco.com/currency-strength-meter.png

You do not need to refresh the page to update currency strengths. Just click whichever chart time frame button you are using and it will refresh within the...
Sweet!!!

Great job Wyfx!

GPips
Find The Pain Points On Your Chart & Trade Off Those Levels
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