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Currency Strength Matrix

THE ONLY CURRENCY STRENGTH INDICATOR THAT IS BASED ON PRICE ACTION. DESIGNED FOR TREND, MOMENTUM & REVERSAL TRADERS

This indicator reads price action to confirm trend and strength. Advanced multi-currency and multi-time frame indicator that shows you simply by looking at one chart, every currency pair that is trending and the strongest and weakest currencies driving those trends.


For full details on how to use this indicator, and also how to get our latest chart tool FREE, please see user manual HERE.


This indicator intelligently reads the price action of 28 currency pairs simultaneously in any time frame in real time, so you always know the strongest and weakest currencies to pair together. Currency Strength Matrix establishes a currencies true strength by reading price action and cyclicity to determine trend, the only true method for identifying trend.

The most important factor in currency trading is each currencies relative strength. A major benefit currency traders have over traders of other markets, is that YOU can pre-select which currencies they wish to pair together to give YOU the highest probability for a successful outcome. Without understanding a currencies core strength, the pairings you choose are less likely to succeed.

Currency Strength Matrix works with 8 major currencies (USD, EUR, JPY, GBP, AUD, CAD, NZD & CHF) which combined make a total of 28 currency pairs which you can trade using this indicator (check our screenshots below for full pairs list).

Each currency is ranked from +7 to -7 in each time frame. +7 indicating that a currency is in an uptrend against all 7 other major currencies with -7 indicating it is in a downtrend against all 7 other major currencies. The scores change when a new trend is created or an existing trend is broken.


How to trade using the Currency Strength Matrix

Currency Strength Matrix can be used in conjunction with any existing trend strategy. Currency strength precedes a strategy, which means it will help you choose which pair to trade before implementing your existing strategy.

Tips.

  1. Pair together a strong currency with positive scores of 5, 6 or 7, with a weak currency with negative scores of -5, -6 or -7. These conditions will ensure you always trading with the existing trend.
  2. Pair a currency crossing up through the 0 line, meaning it is increasing in strength, with another currency crossing down through the 0 line, meaning it is increasing in weakness. These conditions will have you trading at the midpoint of new trends.
  3. For early entry into new trends look to pair a strong currency which is losing strength (was a 7 and dropped to 6) with a weak currency gaining strength (a -7 that has just increase to -6). These conditions are the most aggressive but will have you trading right at the beginning of new trends.


Indicator parameters

  • Draw Labels: You can choose to turn off all currency scores and Matrix table and just use the indicator lines.
  • Draw Matrix: This setting allows you to turn on and off the Matrix table on its own. When set to true it will show on the top right corner of your chart.
  • Label font size: You can choose the size of text in the Matrix table and currency scores.
  • Currency Label Color (for grid): This sets the color of the currency titles in X and Y axis of Matrix grid.
  • Data Label Color (for grid): This sets the color of the scores in Matrix grid.
  • How many bars to calculate: Set how many bars should be calculated and this will set how far the indicator lines extend back in history. You can increase this number if you wish for backtesting. We recommend a minimum of 50 bars.
  • ATR multiplier for over-sized detection: This has been added to eliminate any anomaly/over-sized bars from the chart (over-sized bars greater than chosen ATR will not be counted in cycles analysis) so that we can still focus on the true cycles. The default is 3x ATR, but this can be amended to take into account larger or smaller bars. We recommend 3 as a starting point for all users. ATR 14 is the setting used.
  • Initial calculation frequency: This is the speed in which the 300 bars are read on first load. Can be adjusted between 1 and 10 seconds.
  • Final calculation frequency: This is the frequency in which the indicator checks price action for changes in cycles and therefore scores after all bars have been fully loaded.


brian_pelton
44
brian_pelton 2019.07.06 04:37 
 

I purchased this last night and used the indicator during the NY session. Since I'm a correlation junkie, Raymond made a pure work of genius!! I've seen so many currency indicators but this is the best I've ever seen. I trade anywhere from the Daily down to the 15 min. Simply put, you are covered here. I had 4 winning trades today that added 7% to my account balance. I knew what pairs to trade at any given time. If this had alerts, it would be perfection. I'm going to crush the market with this!! Thank you Raymond!!!

aneek
40
aneek 2019.06.28 11:59 
 

Excellent tool, well thought out, easy to use, saves a lot of time comparing each charts manually. Superior to others and better value for money.Combined with cycle finder pro, its a great tool.

melmanser
24
melmanser 2019.05.24 00:07 
 

Hi Raymond,

Just wanted to say what a fantastic tool this really is, it's really helped my trading being able to make sure with much more clarity that I'm trading the best pairs!

Brilliant work!!

Many thanks, Mel

hassantiger
470
hassantiger 2019.02.08 20:10 
 

Not good for me and bad . I do not recommend it at all .

sunnychow
7069
sunnychow 2019.02.08 14:25 
 

Good indicator.

Alex Serrog
148
Alex Serrog 2018.12.22 06:24 
 

This is a great tool!! a must have for serious traders..Trend(✔) Momentum(✔) Strength(✔) in combination with price action structure and weekly/monthly pivots.. stress free trading indeed. Thanks Raymond for this great tool.

Alex

jeridferranti
21
jeridferranti 2018.12.05 03:52 
 

This is unfortunate that I have to leave one star but I have to. The indicator itself (when it actually works) is great. However, it continuously disappears from my charts. Not the entire indicator just the most important aspects of it. I would give this indicator five stars if I would stay on my chart for longer than a day. It works on only a select number of charts and will not appear on the others. The sad part is that I had it on every chart that I use and then out of nowhere it all went blank. It will just show "Grid analysis" and nothing else. So the indicator is there I just cannot see it. I have deleted, re-downloaded and tried many other things as well with no luck. So bottom line is that even a crappy indicator is better than this one since I can rarely see it. If somehow this problem is fixed and it works consistently then I will post another review. But for now I would save my hundred dollars if I were you.

Jake Xin
28
Jake Xin 2018.11.28 15:51 
 

Hi,

I have been manually checking currency strength and weakness before,now with this great indicator, i can save time and also check the previous behaviour on each currency! It is a must have Indicator!

Jake.

ssnajem87
24
ssnajem87 2018.10.22 21:08 
 

Fantastic tool Ray! It helped me focus on the right pairs and keeps me out of bad trades.

Sam

whisky77
19
whisky77 2018.05.23 12:40 
 

Been utilising this indicator for a few months now. A valuable tool to have at your disposal and assists in identifying strength/weakness over different time frames. One of the more reliable and detailed indicators that I have used.

Peter
1112
Peter 2018.02.24 16:22 
 

Superior to other currency strength comparison indicators I've tried. Great indicator and good results!

Fxsupermac
24
Fxsupermac 2018.02.10 04:37 
 

Very well thought out indicator for strength and weakness. Far superior to others I have used in the past. Great for Trend continuation trades as well as trend reversals. Has been an excellent add on to my trading strategy, by keeping me out of bad trades and keeping me in good ones. Thanks

Aravind
4574
Aravind 2018.02.04 04:38 
 

One of the best indicator

iamgold
1003
iamgold 2017.09.30 21:02 
 

Hallo.

This indikator is great Tool i use every day, this is very good, precise, and good Work from Raymond.

regards stig

Carolyn_
44
Carolyn_ 2017.07.08 20:55 
 

Hello Raymond

Thank you for creating yet another superb tool for MT4.

I’ve just installed it and can already see some of the great trades that I missed during the last week.

Combined with your Cycle Finder and the Markets Made Clear website it will help to make my trading even more focused.

Best wishes.

Carolyn

Version 2.65 2019.04.02
Real-time updater improved to boost performance. Now even better for intra-day trading.
Version 2.63 2018.12.14
Some upgrades to improve overall performance and user experience.
Version 2.62 2018.06.15
Indicator will now check for out of date or missing data and refresh all data if needed to complete calculations.
Version 2.0 2018.02.14
Upgraded code for better memory usage.
Version 1.230 2018.02.09
Code updated to better identify cycles, even when they have not yet been confirmed. Makes indicator react faster to changing conditions.
Version 1.220 2017.11.02
Code for reading price action around over sized bars (news/event bars) has been updated. Indicator will now read cycles and update currency strength score faster where these occur.
Version 1.191 2017.09.06
Updated code to make text size more responsive to different screen sizes and resolutions, making it easier to read.