Best forex currency strength meter
This currency strength meter is not an app, it is web based, but works fine on Android and IOS mobile operating systems, like an IPhone or Ipad.
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The readings on this meter are accurate to 0. The meter shown is for the main trading session, we also have one for the Asian trading session for each currency. Clearly, the AUD has consistent weakness across all 7 pairs on the meter. Movement cycles of over pips in one trading session are possible on many pairs out of the 28 listed on the meter. The meter looks the same for the other 7 currencies, with seven pairs per individual currency grouping. They currency groups are all stacked on top of each other so you can see all 8 currencies and 28 pairs on one screen.
Basing the heatmap on the forex trading sessions is another big advantage. In the example above, the AUD weakness started in the main session and the movement progressed in the most liquid part of the forex trading day. This occurs often with all 8 currencies, almost every day in the main trading session.
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Here is another example currency strength meter signal, and this time you can see how the pairs moved also. The GBP was consolidating, then started to drop in the main trading session. The GBP pairs are volatile. This is the kind of results traders are looking for. Easy to read signals and lots of pips on the more volatile pairs, and 28 pairs total. This is an anomaly as we should expect to see rising prices supported with rising volume if the trend is to develop with real momentum.
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Then we move into the congestion phase. Note the fall in volume as price action narrows and trades around the volume point of control. Now all we need to do is wait and be patient. Trading in financial instruments may not be suitable for all investors, and is only intended for people over Please ensure that you are fully aware of the risks involved and, if necessary, seek independent financial advice. The educational content on Tradimo is presented for educational purposes only and does not constitute financial advice.
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About this course Looking at the Currency Strength Meter CSM , the best thing to do is to combine the strongest currency with the weakest currency for the best result. Profitable Forex trading is all about matching weak currencies versus strong currencies. Related Courses.