Currency Strength Meter Premium
Currency strength indicator is an outstanding tool that is offering users multiple features to easily and professionally define the weak and strong currency pairs. Among the main benefits there is an ability to select up to 10 currencies for monitoring. The currencies are not limited so it is possible to watch after not only fiat currencies like EUR, USD, JPY or others but crypto like BTC, ETH and more. So-called exotic currencies like NOK, SGD, TRY are also available.
By default the indicator takes into calculations all the available pairs in the terminal, therefore you will get an ultimate analysis using all the provided pairs by your broker. If you want to exclude some pairs from calculations, it could be done via indicator settings easily. The overall measurement of the strength of the currencies is based on some indicators so in the setting it is possible to choose its period. Also the indicator is multitimeframe which will grant the possibility to monitor the desired currencies not only on current timeframe but on higher timeframes as well.
The levels that may be used to consider currencies as strong or weak are also adjustable. They are also used to send alerts either to mobile MetaTrader 4 iOS/Android or to Desktop terminal when some currency crosses the defined thresholds.
For user's usability there exists a tab with all the selected currencies and the for the current pair its base and quote currencies are marked with squares so it will be easier to identify by color which currency does it represent. By one-click it is possible to temporarily deselect some currency if there is any reason to do it. The tab could be easily relocated to any corner of the chart and could be shown both horizontally and vertically. The indents from the chart borders and between the elements could be adjusted as well.
One of the main features is the equalizer that shows the currency strength in the form of bricks that allow to define easily how weak or strong are the currencies and which pairs are benefitial for bying and selling. It can be shown/hidden by simple adjustment in indicator settings.