Let’s get to the fundamentals… what is Forex and the way to win it?

in my perception, Forex is simply the energy of monies. Why? A country’s economic factors determine the potency of its money, and the advantage of the currency then controls the sentiment of marketplace participants, which in turn sets the trend. thus, to effectively trade on the Forex market, you need to master the tendencies and moods.

so why is currency potency important?

The strength of a currency is essential to all market moves. All reactions and actions in the market come from the strength of one or two currencies in the pair. There were situations when the release of important news, such as the Non-Farm Pay Roll, sets the direction of the trend for a long time. This is the effect of currency strength.

This indicator calculates the strength of currencies using a currency basket of 28 pairs?

This currency meter uses a basket of 28 pairs to determine the strength. This is very important, as it gives a holistic view of the strength of the currency, given its reaction to all the major currencies that pair with it.

This currency meter is multi – timeframe!!!

Most of the currency strength indicators that are available on the market are able to consider only one timeframe. Even with the so-called “multi-timeframe” versions: they provide a list of timeframes, but data can still only be obtained for one timeframe per chart.

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This indicator shows the strength of currencies on different timeframes in a single chart, thus giving you a clear view of the long – term and short-term sentiment of market participants at a glance.

Another great feature of this currency meter is the multi-timeframe averaging!

The total strength is displayed as the average strength across 3 timeframes. Why is this important?

Although the long-term trend determines the short-term sentiment of market participants, short-term sentiment is the basis of long-term sentiment. I have met several cases when the release of just one news changed the direction of the trend for an indefinite time. Thus, in order to clearly determine the strength of the currency, it is necessary to take into account both the higher timeframes and the lower ones.

Information that can be obtained using this currency strength meter

These are just a few of the general information that can be obtained in this currency strength meter, the list can be continued depending on your trading strategy.

• Time Frame 1: The first timeframe
• Time Frame 2: the Second timeframe
• Time Frame 3: the Third timeframe
• TrendPanelBackGround: Customizable color of the background panel.
• TrendPanelText: Custom text color of the pane.

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