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Currency Strength
Currency Strength Dashboard
When it comes to currency strengths there are two standard methods to use the currency strength tool:
- As a trend-following tool.
- As a trend reversal tool.
When using the currency strength meter, we analyze each currency individually rather than as currency pairs.
The basic idea is to identify the strongest currency and the weakest currency so one can be able to choose the right currency pair to trade. Some traders use it as a tool to buy strength and sell weakness.
Once we determine which currency is independently about to increase in value, we can easily determine which currency pairs are about to experience a value change.
Understanding the concept between individualized currencies and currency pairs will be very crucial for anyone utilizing the currency strength Dashboard, or anyone who is doing forex trading in general.
INPUTS
timeFrame = PERIOD_D1;
currencyArray = “USD;EUR;GBP;JPY;AUD;CAD;CHF;NZD”; symbolPrefix = “”; symbolSuffix = “”; outputForSymbol = “EURUSD”; compactModeOn = false; showInPips = true; refreshTime = 1; // Refresh Time in sec offset_X = 200; offset_Y = 250; strongColor = clrGreen; weakColor = clrRed; neutralColor = clrWhite; borderColor = clrGray; fontSize = 8; levelsAlertMode = 0; //Select alert Levels extremeStrongLevel = 90; //Extremely strong levels(0-Off) veryStrongLevel = 70; //Very strong levels(0-Off) strongLevel = 50; //Strong levels(0-Off) currencyAlertOn = true; //Currency strength alerts are On/Off pushNotificationOn = true; //Push Notification are On/Off 
