I was just curious if any of you use a currency strength meter and if so, what do you think about it and which one you recommend.
Thanks
Hi awright87,
I use a currency strength meter called fxmcsm from FX Multi Currency Strength Meter Software Download FXMCSM for all my fx trading. Its a desktop app that works with metatrader 4 and is quite a good tool.
You can download a free 14 day version for free with a free custom indicator. All I do is to trade when the fxmcsm mt4 custom indicator alerts me. I then check that the fxmcsm strength meter trade says that the currency pair is green, not yellow, orange or red and for the trade direction, easy as that.
Hope this info helps you.
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