Currency Strength Meter - Page 28
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Thread: Currency Strength Meter

  1. #271
    Trader
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    Nov 2017
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    We cannot work alone with this currency meter trading strategy because we must use another trading strategy with it then we will take advantages from this trading strategy. I think if we are use moving average with this currency strength meter then its easy for traders to understand this market trend and earn profit from it.

  2. #272
    Taking trades in the forex market based on the strength of the currencies in the pair is always a very good and powerful strategy especially when we are looking to take trades in the direction of market trend. This is why a currency strength meter is very important for our trading. Although for my trading I don't use indicators to know the strength of currencies rather I use some online websites to check, so as to know which pairs might be favorable for my trading.

  3. #273
    Currency strength indicator is a simple way of trading in the market we don't have you stress ourselves analyzing the market that much we don't need any moving average indicator, or support and resistance levels, all we need is the currency strength indicators, this will show us the strongest and the weakest pairs.

  4. #274
    Banned
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    the main thing about this indicator that what makes it a good indicator in use and helpful that is you are always aware about currency that where it is weak or strong where it will be helpful in trading or not,where which currency is high or where it is low.So it is much helpful in trading.

  5. #275
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    Quote Originally Posted by zuhaib View Post
    the main thing about this indicator that what makes it a good indicator in use and helpful that is you are always aware about currency that where it is weak or strong where it will be helpful in trading or not,where which currency is high or where it is low.So it is much helpful in trading.
    A currency strength and weakness is not help you to make money because some time Euro is seems to be weak but when European session is open its can be strong any time. Its best for us to focus on this market with a good trading strategy and if you are use another trading strategy with this meter then its can help you to identify the market trend easily.

  6. #276
    Quote Originally Posted by Rola View Post
    Some time ago I had this indicator installed in my mt4. I have understood that it is connected to RSI or stochastics so I have unistalled it because I do not need a few indicators showing the same thing. If anybody sees it better than RSI so it is OK , everybody can use tools that he likes. But personally for me it was not very good.
    Seriously, I must confess that you made me get confused on what you have explained here. This software here has nothing to do with RSI, even the RSI is an inbuilt indicator, but the software here is an external program that could be only allowed with the help of the expert advisors. So, I see nothing useful in your claim and allegation here.

  7. #277
    Quote Originally Posted by zuhaib View Post
    it is a very good indicator of this platform that allows to you be aware of currencies strength that where it will help you and where it will be not helpful for you so can see the ups and downs in the currency that where the trading will be profitable and where it will be not.
    Yes, this is a good indicator for trading, it will not trade the market direction directly but it is tool for traders to know the currency strength. The trader can chose through that and also make a useful analysis with trendline strategy so that a good trend of the market can be revealed at that time. This is just a plain issue, we need to practice it and it will work fine.

  8. #278
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    Apr 2018
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    Quote Originally Posted by Toyen View Post
    Yes, this is a good indicator for trading, it will not trade the market direction directly but it is tool for traders to know the currency strength. The trader can chose through that and also make a useful analysis with trendline strategy so that a good trend of the market can be revealed at that time. This is just a plain issue, we need to practice it and it will work fine.
    This meter is not help traders to understand this market trend and its movement because we cannot trade on forex with this meter which is tell us only about the market strength and weakness. you are right the trend line trading strategy is best for traders and traders who are use it they will always make profit on their trading and their success will become easy for them.

  9. #279
    Currency strength indicator is a good indicator that will make trading very easy for us to trade, this indicator is simple and very easy for anyone to trade with, there is a similar indicator that am making use of and it work really good, you need to learn and understand the rules of the indicator for it to work good for you.

  10. #280
    Quote Originally Posted by jassim View Post
    This meter is not help traders to understand this market trend and its movement because we cannot trade on forex with this meter which is tell us only about the market strength and weakness. you are right the trend line trading strategy is best for traders and traders who are use it they will always make profit on their trading and their success will become easy for them.
    You are correct, this currency meter does not help traders to understand the trend, it can only tell traders the strength of the currency they want to trade. We have to be so careful with this trading programs always, the currency strength can be deceptive at times, it might be the actual time we want to enter a trade that the currency power will start reducing.

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