Description

Currency Strength Meter

Content: Expert: CurrencyStrengthMeterNP.ex4 v1.0 (Unlocked for MT4 Build 1431+), UserGuides: User Guide.pdf, Setup Instructions.pdf

By using a combination of price action, the relative strength index, and
stochastic indicator, the currency strength meter calculates and orders the
major currency pairs from strongest to weakest. In addition to ordering
currencies by strength, the strength meter will determine the best currency
pairs for trend trading or range trading, and deliver them in real time to the
user. It is also configurable to any time frame, meaning it can be used from
the 1-minute chart, all the way to the 1-month chart!

How to Use:
The application of the currency strength meter is primarily up to the trader
utilizing it. Whether you decide to trade sideways or trending markets, and
what particular setup you look for, is up to your own discretion. The tool will
assist in finding market environments that you find most comfortable for
trading.
Leaving the currency strength meter running on a separate chart window will
allow you to quickly tab over and see what the meter is scanning, to get a
great view of the overall market.