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Multi TimeFrame Currency Meter

3


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 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 Strength 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.
Reviews 7
testacc
339
testacc 2019.04.09 07:26 
 

I have spent a lot of time with various currency meters and know their strengths, weaknesses and failings. This currency Meter is a robust useful and effective tool. Although it is Daily, Weekly and Monthly, because of the way it works it is far more sensitive at those settings than you would intuitively expect. That is why one of the reviews here find it changes so often on lower timeframes. The daily for instance picks up intra day trends well that are tradeable on a 1min timeframe at s/r (once a trend is established) well without being quite as sensitive as some other methods. It strikes a good optimal balance for me between sensitive and stable. The developer has modded it so it is stable when it starts on a new period.

I have contacted the developer for help and he has been extremely accommodating, quick to reply and more helpful than I'd have expected.

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AKILA THILINDA JAYARATHNA RANASINGHEGE
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Account Alerts is an indispensable Forex tool to keep tab of all trading activities on your account. Even when you have an EA trading on your account, you still need to keep tab on trading activities on your account to ensure trades are executed according to strategy and plan. Account Alerts sends notifications on trade openings and closings, account balance status, margin level decline, trade loss, trade profit, attained daily profit target, daily maximum loss hit. Whenever any event occurs in
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Bollinger Channel Trader is an indicator designed with the full capabilities to trade the Bollinger Band Channel. This indicator combines price action with the Bollinger channel by scanning Pin-Bar and Engulfing Bar patterns around channel lines. The indicator is also equipped with over 4 filters including Currency Strength Meter to ensure high probability trading. Developed by John Bollinger, Bollinger Band Channels (a.k.a BBands) is a volatility based channel formulated with a Moving Average a
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Donchian Channel Trader
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Nesimeye Oswald
Donchian Channel Trader is an indicator designed with the full capabilities to trade the Donchian Channel. This indicator combines price action with the Donchian channel by scanning Pin-Bar and Engulfing Bar patterns around channel lines. The indicator is also equipped with over 4 filters including Currency Strength Meter to ensure high probability trading. Developed by Richard Donchian, Donchian Channel is a price action based channel formulated by taking the highest and lowest price over the l
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I to 3 Trendline Breakout
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Nesimeye Oswald
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. PATTERN BACKGROUND The 1-3 Trendline Breakout pattern is formed by four(4) points which are composed of three (3) primary points and the pattern neck. A trendline is always formed by the point 1 and the neck of the pattern . When price breaks out of the trendline formed ,
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MultiTimeFrame Currency Meter
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Nesimeye Oswald
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 versi
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sunnychow
8691
sunnychow 2019.07.09 15:03 
 

User didn't leave any comment to the rating

testacc
339
testacc 2019.04.09 07:26 
 

I have spent a lot of time with various currency meters and know their strengths, weaknesses and failings. This currency Meter is a robust useful and effective tool. Although it is Daily, Weekly and Monthly, because of the way it works it is far more sensitive at those settings than you would intuitively expect. That is why one of the reviews here find it changes so often on lower timeframes. The daily for instance picks up intra day trends well that are tradeable on a 1min timeframe at s/r (once a trend is established) well without being quite as sensitive as some other methods. It strikes a good optimal balance for me between sensitive and stable. The developer has modded it so it is stable when it starts on a new period.

I have contacted the developer for help and he has been extremely accommodating, quick to reply and more helpful than I'd have expected.

Joyospa
143
Joyospa 2018.05.07 06:34 
 

Does not work. Just see gray screen

scootr
49
scootr 2018.02.03 03:43 
 

User didn't leave any comment to the rating

petesill
46
petesill 2018.01.30 14:11 
 

User didn't leave any comment to the rating

janacrane
55
janacrane 2018.01.30 11:43 
 

User didn't leave any comment to the rating

Michalangelo
344
Michalangelo 2017.12.23 20:23 
 

Didnt get what is promised. Calculations change too fast. at one moment GBP is weakest in all TFs, 5 minutes after it is strongest on all TFs. Totally useless, it doesnt help you decide which currency pair to trade. I also rented currency strength trader which was also totally useless. Wish I could get my money back.. Not even satisfied. 1 star

Reply to review
Version 1.6 2019.09.16
You asked and we listened ! Trend Alignment now added for the notification signal. Now user can choose if they want to receive alert when trend changes on one time frames, two time frames or all three time frames.
Version 1.5 2019.04.09
Multi Timeframe Currency Meter is better and more advanced. This version uses a calculation that is different from any other currency meter you will find online. You will find this version more accurate than any currency meter you will ever use
Version 1.4 2018.10.07
Fixed a bug with the file
Version 1.3 2018.10.05
Multi-Timeframe currency meter is now better , awesome, works and above all, makes perfect sense. The new designed is an upgrade of the popular and trending indicator (Advanced Currency Meter) . This version is a multi timeframe version of Advanced currency Meter plus this version sends notifications! Check it out , i know you will love it.