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Forex strength meter

Forex strength meter is a useful indicator with which novice traders and professionals can analyze the market and see when and where to open a deal. Forex strength meter is an analytical complex for Metatrader4 which, in the form of lines on the chart, shows the trader the direction of the trend and its reversals. The interpretation of the indicator is very simple. When the indicator draws a red line above the blue line on the chart, it means that the trend is now going down. At this point, it is best to enter into sell deals. When the blue line on the chart is higher than the red line, then the trend is up. At this moment, it is best to open buy trades.

Benefits of Forex strength meter:

  • it does not redraw its values.
  • Shows the direction of the trend to the trader accurately.
  • very easy to use.
  • works on all currency pairs.
  • suitable for trading scalping strategies.



Forex strength meter settings:

  • period - indicator averaging period.
  • type - opening price. If the value is 0, the indicator works at Close prices. With the parameter value = 1, the indicator works at the Open prices.
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Indikatoren
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Indikatoren
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Indikatoren
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Indikatoren
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Indikatoren
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Indikatoren
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Indikatoren
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Indikatoren
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Version 2.0 2021.07.26
Added the "type" parameter to the settings. If the parameter value is 0, the indicator will open at the Close prices. If the parameter value = 1, the indicator will work at the Open prices.