EightForce Currency Strength 28
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EightForce Currency Strength 28
EightForce Currency Strength 28 is a multi-currency strength indicator for MetaTrader 4.
The indicator analyzes the 8 major currencies:
AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD.
It uses data from the 28 major Forex cross pairs and displays the relative strength of each currency in one separate indicator window.
Main features
- 8 currency strength lines
- 28-pair market calculation
- Market Momentum line
- Dynamic Market Fib levels
- Automatic highlighting of the two currencies of the current chart
- Currency labels in the indicator window
- GAP arrows for strong changes in currency momentum
- Multi-timeframe input
- Support for broker symbol prefixes and suffixes
- Adjustable smoothing, lookback and sensitivity
- Historical display
How to use
A rising currency line indicates increasing relative strength.
A falling currency line indicates increasing relative weakness.
A common approach is to compare a strong currency with a weak currency and then confirm the setup with your own trading method.
The two currencies belonging to the current chart pair are displayed with thicker lines to make them easier to follow.
Market Momentum gives additional information about the overall separation between the strongest and weakest currencies.
Dynamic Market Fib levels expand and contract with market activity and can be used as reference zones for unusually strong currency movement.
Important
This indicator is an analytical tool. It does not guarantee future market performance and does not provide guaranteed trading results.
Recommended use:
M15, M30, H1, H4 and D1.
For correct multi-currency calculation, the broker should provide the standard 28 Forex pairs formed by AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD.
