Currency Strength Meter (REAL-TIME)

Trading Tech and Tools
1

Hi,

I just wanted to share with you Forex MRI currency strength meter (this is pure price action, not average price or derivative), it measures in real-time (the daily price action, weekly price action, and monthly price action) the strength of single currency against all major currencies, also it calculates the percentage of the average range of single currency, so we know which currency is reversing or trending…

URL:

Currency Strength Meter

Thanks
Regards

2

Let me check it. Thanks

3

cheers. but is this one similar to others developed on other forums?

4

I would appreciate your feedback, thanks

5

[B]First of all I want to say that all technical indicators rely on the past history price, the tool can help you to trade with confidence and save time but can’t predict the market.
[/B]
I don’t know if there is a similar indicator, but Forex MRI is a pure price action strength meter comparing one currency with other major currencies (USD, CHF, GBP, JPY, EUR, AUD, CAD, NZD), it’s simple to use, yet it’s a powerful tool, instead of looking into multiple charts you can simply identify the strongest and weakest currency.

6

I attached two snapshots for the daily and weekly charts

Regards

7

Currency Strength Meter Indicator for NinjaTrader with Market Analyzer This one is not a website, but it has a nice market analyzer and highs/lows ticker. Very useful to see the overall sentiment of the market

9

Although similar to FXMRI in functionality, the mataf formula within the currency strength meter below is reported by users who have used both… to be more statistically accurate on time frames <=1H:


Once at the site, you can select your currencies to the right and your periodicity to the top left. There is also an option to expand the strength chart to fill your entire 1920X1080 display. Select this option either as your daily default view of the lesser time frames, or for backtesting and analyzing purposes. Then if necessary, increase (+) or decrease (-) the Zoom within your browser to match your exact display needs.

10

It’s been quite a long time since we’ve posted an update about FXMRI | Forex Trading Tool, we’ve made some great improvements, and we hope that our tool will improve your trading skills!

  • A new dynamic formula.
  • Full screen chart.
  • Real-time updates (less than 30 seconds).
  • New look and feel.
  • Multiple charts (daily, weekly, monthly & yearly).
  • Chart overlay for all 28 major pairs.
  • The chart works on iPhone, iPad & Android devices.
  • And the most important thing, the tool is still FREE.

Sign Up for FREE account FXMRI | Currency Strength Meter | Forex Trading Tool

Trade with Confidence
Best Regards

11

Thanks, I have seen this before but it does not give any future prediction.
Best Regds,
Chanchho

12

Hi Chanchho, there is no tool can predict the future…

13

Sure, but can you explain how to use the tool to give useful entry times and if it can be used to select pairs at the best time, ie just when the prices of two currencies begin to diverge…so you can get in at the beginning of a nice run?

Otherwise, it seems very accurate tool, I like it…

Thanks.