MULTI TIMEFRAME CURRENCY METER

5/5
MT4-402
Product Features
  • This Currency Meter Calculates Strength Using a currency basket of 28 pairs
  • This Currency Meter is Multi-timeframe
  • Another Awesome Feature About This Currency Meter is Multi-timeframe Averaging
  • Notifications (PopUp , Email and Push)

MULTI TIMEFRAME CURRENCY METER

(Mt4 indicator)

This Currency Meter Calculates Strength Using a currency basket of 28 pairs

This Currency Meter uses a basket of 28 currency pair to define strength. This is very important because it gives an wholesome view of the strength of a currency by considering its reaction to all major currencies paired with it.

This Currency Meter is Multi-timeframe!!!

Majority of the currency strength indicators around the market today only has a single time frame view. Even with the so called multi-timeframe versions, they provide a list of time frames for you but you will still only be able to view a single time frame per chart.

This indicator shows currency strengths of different time frames in one chart thus giving you a clear picture of the long and short term sentiments of the market in a single view.

Another Awesome Feature About This Currency Meter is Multi-timeframe Averaging!

The final strength displayed is an Average strength of 3 time frames. Why is this important?

While a long term trend might define the short term market sentiment, yet the short term sentiments is what builds the long term. I have seen several cases where a single news release changes the direction of a trend indefinitely. Thus to clearly define the currency strength, you have to consider both Higher Time frames and Lower time frames.

INFORMATION YOU CAN GET WITH THIS CURRENCY METER

  1. Direction of a trend: By comparing the strengths of the two currencies in a pair, the direction of that pair can be easily deduced. E.g EUR=7.9, USD=2.9. Then EURUSD is in a bullish trend because EUR is stronger than USD.
  2. Strength of a trend: The strength of the trend of a particular pair can be simply deduced from the difference between the values of the currencies that make the pair.
    Example 1: AUD=6.0, USD=5.9. The difference is just (6.0-5.9=0.1). This is a very weak trend.
    Example 2: AUD=8.0, USD=3.0. The difference is (8.0-3.0=5.0). This is a very strong trend.
  3. Volatility: With the difference between the currencies in a pair, you can easily deduce the volatility of that pair. A difference less than three (3.0) signifies weak movement and thus an indication of low volatility . A difference greater than four (4.0) signifies strong movement and thus an indication of high volatility.

These are just a few of the general information you can get from this Currency Strength Meter but the list goes on depending on your trading strategy.

INPUT MENU

  • Time Frame 1: First Time Frame
  • Time Frame 2: Second Time Frame
  • Time Frame 3: Third Time Frame
  • TrendPanelBackGround: Editable Panel Background color.
  • TrendPanelText: Editable Panel text color.

SCREENSHOTS

WE OFFER FOREX PROGRAMMING SERVICES

Forex Robot Makers is a bespoken forex programming service with over 5 years experience in Forex Trading and forex robot programming . We program Expert Advisors , Indicators and Scripts in both MetaTrader 4 and MetaTrader 5 . Our App store holds the best collection of free & paid forex products.

Over 500 of our Forex Software sold on Mql5 market . We are a proud recipient of Mql5 500th Sale Award !

POPULAR IN OUR APP STORE

$89

This indicator scans the 1-3 Trendline pattern . The indicator is a 100 % non repaint low risk breakout system. The patterns are formed around swing high and swing lows which make them a low risk pattern with high reward...

$89

First discovered by Bille Wolfe . The wolfe wave is a 5 wave price action pattern that is formed by supply and demand in a market and the fight to reach equilibrium in the market.

$79

The swing continuation pattern happens in a trend direction after a short reversal / pull back . As the name suggests , these patterns occurs along the swing high and swing lows of a trend , this makes the patterns very low risk patterns with potential high rewards .

$89

M & W Pattern Pro is an advanced scanner for M and W patters , it uses extra filters to ensure scanned patterns are profitable. The indicator can be used with all symbols and time frames. The indicator is a non repaint indicator with accurate statistics

$129

Flag Pennant Scanner Trader is a Multi-Time frame and Multi-Currency scanner for Flag and Pennant chart patterns. All currency pairs are scanned and monitored from one chart. The pattern display is designed into Visual chart Patterns Displays and Dashboard Displays...

$79

Pivots Dashboard is the single most complete instruments set for Pivot Points trading currently available in the market. We have done a comprehensive research prior to the product design to make sure that this product meets every need of Pivot Point trading...

$79

This Currency Meter uses a basket of 28 currency pair to define strength. This indicator shows currency strengths of different time frames in one chart thus giving you a clear picture of the long and short term sentiments of the market in a single view...

$79

Volume always precedes price. Thus if you want to see the move before it happens, take your eyes from the price and look at the volume. Volume Strength 28 is a currency meter that is different from any you’ve come across. It uses volume as the bases for its analysis....

3 thoughts on “MULTI TIMEFRAME CURRENCY METER

Comments are closed.