One can also set alerts on the chart and dashboard to make it easier to work with this indicator. When it comes to the indicators that are used in this technical analysis tool, their values can be adjusted making CSM an even more powerful and flexible tool. Currency Strength Meter Indicator demonstrates whether the currency is trending currently or is ready to reverse. The idea behind those calculations is to understand the current market situation. The weakest currency in this example is NZD having -33 points in TOTALS. If we take this example above, the strongest currency is CHF as it has 29 strength points in the TOTALS column. One can choose between three indicators (MA,MACD, RSI) to calculate currency strength. The bigger the number is, the more strength the currency has currently. All those values are calculated in the TOTALS column giving traders the final result. Each timeframe has a separate value that can be either positive or negative.
One can use it as a separate trading strategy or to benefit from this indicator to measure the currency strength and use it as a confirmation tool.Ĭurrency Strength Indicator analyzes each of eight main currencies that are included in calculations of all timeframes available using one of the basic indicators that are included in the tool. Traders can use currency strength to forecast price fluctuations to make the best trading decisions.
