Currency Strength Meter - Page 31
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Thread: Currency Strength Meter

  1. #301
    Quote Originally Posted by jamey View Post
    This is a good indicator for trading and this indicator gives us market strength and weaknesses. If we know the strengths and weaknesses of the market, then it becomes easy for us to get profits for this business. I love to trade with these kinds of indices that make simple success for our business and I really want to know this currency meter as the market tide strength and weaknesses and use it to make big profits on this business.
    Forex traders need to know the kind of forex indicators they are using for their trading purposes. This is not an ordinary indicator too, it is not the kind of forex indicators who will be making the analysis on the signals to go for, it is the currency strength indicator who can help forex traders to know the best performing indicator. The forex traders can now make his own analysis with other forex strategies to analyze forex assets when the selected currency by the help of this indicator is paired with another currency. This can give traders big income.

  2. #302
    I came across a currency strength strategy on the internet and it's a web base strategy I use this indicator few times but later abandon it because it's not that accurate, I believe there are more better and accurate currency strength indicators out there that are very useful, but the current one that I came across is not that useful because it's not that accurate.

  3. #303
    Quote Originally Posted by rashid636 View Post
    In this thread i want to talk about currency strength meter because it is very good for trading and we can know about the power or currency . so this way we can decision for place order buy or sell. also we can use this indicator with different strategies and different trading system.
    so we see some example about currency strength meter.
    Attachment 12883
    so this image we can see usd is much strong and chf is weak so usdchf we can buy also we see the chart.
    Attachment 12884
    and other example is eur us weak and usd is strong so we sell eurusd let see chart.
    Attachment 12885
    so this will help us thanks

    currency strength meter or CSM is a Forex Indicator that displays a glimpse of what is happening on the market today. This CSM shows the strengths and weaknesses of all major world currencies so that it can help us to analyze markets and determine transaction decisions.
    This CSM is in the form of a custom indicator that can be installed on MT4 on a PC. You can also find this CSM in the playstore in the form of an application.
    I also used CSM. however, although it seems easy, but you still have to be careful because CSM is still a tool to analyze the strength of major currencies, but not a buy or sell signal that you should follow without thinking first.

  4. #304
    Banned
    Join Date
    Aug 2018
    Posts
    255
    These is something that I use to work on forex with it can work for you at about say 50 percent ,these gives you an idea of which currencies to put together and which to pair, say if you have a very strong GBP and a very weak JPY, then the best thing to do is to go and buy GBPJPY , these will increase in value and will give you something to do with profit, however do not rely on it solely it might make you lose some important point that would help you understand fully the pair.

  5. #305
    Quote Originally Posted by mkubwa View Post
    These is something that I use to work on forex with it can work for you at about say 50 percent ,these gives you an idea of which currencies to put together and which to pair, say if you have a very strong GBP and a very weak JPY, then the best thing to do is to go and buy GBPJPY , these will increase in value and will give you something to do with profit, however do not rely on it solely it might make you lose some important point that would help you understand fully the pair.
    50 percent change of survival is called 50-50 and therefore isn't good enough, we should try and develop a good strategy that will at least give us more winning trades than our losses, and a good currency strength indicator can help us make consistent profit if we really stick with the rules of the indicators and work according to plans.

  6. #306
    Trader
    Join Date
    Aug 2018
    Posts
    2,122
    I have tried this indicator but unfortunately it has not helped me. Nice colors and that it is all. I understand that it is based on RSI or any other stochastics indicator. It is better to use sole RSI and there will be more information about overbought or oversold market conditions and we will be able to make trading decisions based on them.

  7. #307
    Quote Originally Posted by rashid636 View Post
    In this thread i want to talk about currency strength meter because it is very good for trading and we can know about the power or currency . so this way we can decision for place order buy or sell. also we can use this indicator with different strategies and different trading system.
    so we see some example about currency strength meter.
    Attachment 12883
    so this image we can see usd is much strong and chf is weak so usdchf we can buy also we see the chart.
    Attachment 12884
    and other example is eur us weak and usd is strong so we sell eurusd let see chart.
    Attachment 12885
    so this will help us thanks
    how long have you used this indicator whether the time frame has an effect ???
    and for Sl and TP what is the pip for this technique?

  8. #308
    I have seen an indicator measuring the strength of a currency against other currencies and I also put it on my chart and also I observed and studied it and after a day I learned this indicator I could draw conclusions this indicator also has a weakness because the strength of the currency is shown this indicator can also turn out to be weak not long after

  9. #309
    Trader
    Join Date
    May 2018
    Location
    Pakistan
    Posts
    4,748
    It is not possible for the market trend to be paying all the time. but i can advice you that it is the best because it will pay most of the time. And if you will agree, nothing is perfect, not to say of the forex business that is risky. the trend will do well for you when you know how to manage it well and get the money you need through it.

  10. #310
    I use this indicator into the trading that I run everyday, I think it's pretty good, but there is something to note that after all this indicator is based on analysis so that it can determine the strength or absence of a pair, because I see sometimes the signal is correct but only for a few moments and then the signal becomes weak again

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