indicators. If a currency strength meter doesn't give accurate currency strength indicator values, it's of little use, regardless of its other features. Please see notes below for further details. It is not investment advice or an inducement to trade. The meter does about 112 calculations per each reading, which is lightning fast considering the amount of pairs it has to go through. Forex Trading for Newbies bonus 123 Patterns. Positions in the same direction may have similar profit. However, there's another slight drawback. Currency meters work in a similar way: They use the exchange rates of different currency pairs to produce an aggregate, comparable strength of each currency.
See where your currency ranks against other currencies traded against. Currency strength meter is perhaps the most important item in my toolbox. For the record, I use the one that I wrote for myself (here).
Forex Currency Strength Meter V6 If you have the temperament to react quickly, and have no compunction in taking very quick losses, not more than two or three pips, then scalping may be for you. Additionally, if you unfamiliar with the currency pairs listed, here's a quick breakdown of what they are, together with different ways you might see them: eurusd - EUR to USD - Euro to United States Dollar. This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. The color code used in the meter is pretty self-explanatory, with: blue as weak (0.0.0 yellow as normal (2.1.0 orange as strong (5.1.0). All price momentum "swallowed" the pound, which took almost 70 points in both directions in a couple of minutes.