The Advanced Currency Strength28 Forex indicator measures and displays currency strength for 28 different currency pairs in an easy to read chart.
After loading the indicator onto the MT4 chart, it appears in a separate trading window underneath the main activity chart.
According to the developer, it’s a high quality trading indicator that will pinpoint entry points in new trends.
The Advanced Currency Strength indicator works on any time frame and can be deployed for scalping, day trading and swing trading purposes.
It displays arrows that show you strong momentum and overbought and oversold warning signs that might be useful for trade entry as well as trade exit.
Feel free to play with the different indicator input settings and parameter to suit your preferences.
- Measures currency strength for 28 pairs
- Arrows show strong momentum
- Pullback and trend reversal alerts
- Cross pattern alert
- No repaint Forex indicator
- No lagging
Example Chart (CAD/JPY M15)
The Advanced Currency Strength28 indicator for MT4 makes it easier for the user to identify and confirm trades that have the potential to make a good amount of pips.
It’s built on a new formula and provides some amazing features, such as dynamic Fibonacci and Forex market momentum.
It will basically tell you if you should trade with the trend, look for a pullback or continuation.
MT4 Indicator Characteristics & Input Parameters
Currency pairs: 28
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (use higher time frame, draw GAP momentum arrows, currency cross alert,…), colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: currency strength
Indicator Installation/Removal For MT4 Platform (MQL4)
- Copy the indicator to the MT4 indicator folder.
- Restart the trading platform.
- Finally attach the indicator to a chart.
- Simply remove the indicator by clicking with the right mouse button in the chart.
- Search for indicator list
- Remove the indicator from the list.