MT4 TREND SCREENER : TREND C.S.M

MT4 TREND SCREENER : TREND C.S.M

18 March 2020, 00:31
STE S.S.COMPANY
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---------------- TREND SYSTEM  ----------------

Trend Screener Indicator


Trend Line Map Indicator





CURRENCY STRENGTH METER 

It's a tool that calculates the trend strength of 8 Currencies: USD - EUR - GBP - AUD - NZD - CAD - CHF - JPY based on 9 timeframes ( M1 , M5,  M15 , M30, H1 , H4, Daily, weekly and monthly )  and display the summary of the trend strength by currency.

It's a tool to identify the pairs in the trending phase (1)  or the consolidation phase (2) .

CLASSIFICATION OF CURRENCY STRENGTH BY TREND

STRONG CURRENCY  :   The strong currency is displayed in Gray color. 

NEUTRAL CURRENCY :  The neutral currency is displayed in white color. 

WEEK CURRENCY     :    The week currency is displayed in Salmon color. 




How we read the Trend Currency strength table 


CURRENCY CURRENCY STRENGTH BY TREND
USD  STRONG AND TREND SCORE 7.67
JPY  NEUTRAL AND TREND SCORE 5.72
EUR  NEUTRAL AND TREND SCORE 5.35
CHF  NEUTRAL AND TREND SCORE 5.06
AUD  NEUTRAL AND TREND SCORE 4.95
GBP  WEEK AND TREND SCORE 2.44
NZD  WEEK AND TREND SCORE  2.37
CAD  WEEK AND TREND SCORE 2.20


EXAMPLE 1  ( STRONG UP TREND PHASE ) 


USD : STRONG and CAD : WEEK => USDCAD has a strong UP TREND.


USDCAD : STRONG UP TREND


Conclusion : It's highly recommended to avoid opening sell orders and opening only buy orders in USDCAD.


EXAMPLE 2 ( STRONG DOWN TREND PHASE ) 


USD : STRONG and GBP : WEEK => GBPUSD has a strong DOWN TREND.


Conclusion : It's highly recommended to avoid opening buy orders and opening only sell orders in USDCAD.


EXAMPLE 3 ( CONSOLIDATION PHASE ) 


AUD: WEEK, NZD: WEEK and the score of both 2 currencies are too near to each other =>  AUDNZD is in a consolidation phase without a clear trend.


Conclusion : It's highly recommended to avoid opening buy orders and sell orders in AUDNZD.



(1) Consolidation phase

 A price consolidation is when after a trendy move by market, prices come to a flat period where prices don’t move much at all on either side. You can say that the forex market is taking a rest before it continues trending.

 (2) Trend Phase

A trend is a tendency for prices to move in a particular direction over a period. Trends can be long term, short term, upward, downward.

Feel free to post your comments below, thank you.




Author

SAYADI ACHREF , fintech software engineer and founder of Finansya.