I just cannot understand the difference between the two. They seem to do the same thing to me. Both displays the strongest and weakest currencies.
Babypips explanation of a heat map is: The currency heat map displays a visual overview of the forex market’s price action by organizing data from 28 currency pairs into color-coded results. The strongest currencies for each specific timeframe are marked green, while the weakest are marked red.
Currency Strength Mater: Our free currency strength meter helps you identify which currencies are strong and which currencies are weak. All 8 major currencies are monitored in real-time and the calculations are based on 28 currency pairs to determine the overall strength of each currency.
Is the difference just the use of different formula calculations and that they visually look different but ultimately do the same thing?