The currency power indicator for MT4 measures the strength of the 7 major currencies (CHF, AUD, EUR, NZD, JPY, USD, CAD, GBP) and ranks them in a nice little window on the MT4 main chart.
Trading Signals
Buy:
Look to buy the strongest currency versus sell the weakest currency. Looking at the image below, one would buy the CHF and sell the GBP (CHF/GBP).
Sell:
Look to sell the weakest currency versus buy the strongest currency. Looking at the image below, one would sell the GBP and buy the CHF (GBP/CHF).
Indicator Preferences
Currency pairs: majors + currency crosses
Time frames: any
Sessions: Any
Download
Download the MT4 CURRENCY POWER.ex4 indicator.
Configurable Indicator Options
Window, corner, X position, Y position, color
EUR/USD M30 Chart Example
How to install the Currency Power custom indicator in Metatrader 4?
- Download the MT4 CURRENCY POWER.ex4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.