Spread Strenght Meter Indicator - Clever Trading Tools

Spread Strenght Meter Indicator - Clever Trading Tools

2 October 2020, 18:26
Carlos Forero
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FIND THE BEST CURRENCY PAIR TO TRADE EACH TIME

VERSIONS: Metatrader 4

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    The indicator measures a currency’s relative strength, on different timeframes, through certain percentile spread analysis. This allows you to compare which are the strongest currency pairs, against the weakest pairs.

    These spreads are based on comparison against USD.


    How is "Clever Spread Strength Meter" useful to you?

    This indicator determines a currency’s strength on different timeframes, based on its spread's historical record.

    • This indicator identifies possible overbought or oversold patterns, by looking at excessive spread strength.
    • This will allow you to have higher trading operation's success, while you trade currencies with high spread analysis strength Vs low ones.
    • This will allow you to have higher trading operation's success, by avoiding continuation trades with currencies with neutral or close to zero spread analysis strength.

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    How can you use our"Clever Spread Strength Meter" indicator?

    This indicator helps identify a currency's relative strength against another, through a given percentile, timeframe and time interval. All of this is calculated through an advanced method of spread divergences amongst various assets.

    This indicator is useful to: 

    • Indicate a strong bearish trend, if the score is less than -3.
    • Indicate an oversold signal, if it is less than -6.
    • Indicate a strong bullish trend, if the score is greater than 3.
    • Indicate an overbought signal, if it is greater than 6.

    Components

    • Table with descending values for relative spread strength.
    • A currency’s row is highlighted in green color if its strength is higher than 3. On the other hand, if the strength’s value is lower than -3, then the row is highlighted with red color.


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    How to use the indicator

    Trade long currencies which have a strength over 3 and less than 6, and trade short currencies which have a strength below -3 and higher than -6. You can apply trend strategies on these selected currencies.



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