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Currency Strength Meter Indicator Review
In the fast-paced world of Forex trading, precision and speed are key to success, especially for scalpers. Enter the Currency Strength Meter PRO, a groundbreaking indicator designed for scalpers seeking to optimize their trading strategies. This article will delve into the intricacies of this innovative tool, exploring its features, functionalities, and how it can revolutionize your scalping game.
Technical Specifications
Version: 2.5
Terminal: MT4
Year of issue: 2023
Working pairs: ANY
Recommended timeframe: ANY
Minimum Deposit: $100
Best Brokers List
Currency Strength Meter works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:
Currency Strength Meter Settings
Understanding the Currency Strength Meter PRO
1. The Breakthrough Algorithm
The Currency Strength Meter PRO boasts a breakthrough algorithm that combines the power of two main indicators: Advanced Currency Strength 28 and Advanced Currency IMPULSE with ALERT. This amalgamation provides a unique perspective by displaying Currency Strength values for TICK-UNITS and generating alert signals for 28 Forex pairs.
2. Tick-Units for Precision Scalping
The indicator introduces the concept of Tick-Units, allowing users to choose from 11 different intervals, ranging from 1 to 30 seconds. This level of granularity enables scalpers to pinpoint precise entry and exit points with unparalleled accuracy.
3. Versatility in Timeframes
Unlike conventional currency strength indicators limited to higher timeframes, the Currency Strength Meter PRO is a trailblazer, functioning effectively on lower periods, even below 1 minute. This makes it a go-to tool for traders who prefer quick in-and-out strategies, cutting small but strategic pips from the market.
Features of Currency Strength Meter PRO
1. Tick-Unit Sell/Buy Alerts
- Receive real-time alerts for 28 pairs with the option to swiftly open a target chart.
- Choose from three sensitivity modes: slow, medium, and fast.
2. Dynamic Market Fibonacci Levels
- Utilizes advanced techniques of dynamic Market Fibonacci levels.
- Adapts dynamically to live market activity, ensuring accurate and responsive analysis.
3. Automated Support Charts
- Speeds up broker feed with automated support charts.
- Requires only a few minutes of startup to collect enough live ticks.
4. Customizable Configuration
- Highly configurable with 11 different Tick-Units.
- Options for adjusting line widths, colors, and other visual elements.
How to Use Currency Strength Meter PRO
1. Setting Up the Indicator
- Initiate the indicator and allow a few minutes for live ticks collection.
- Configure the chart window mode to “restore down” for optimal visibility.
- Click on currency buttons or alert buttons to open or change the target chart.
- Easily move or drag the target chart within the MT4 interface.
3. Analyzing Signal Buttons
Trading Strategies with Currency Strength Meter PRO
1. Executing Buy and Sell Strategies
- Examples of setups with pairs like CADJPY, GBPJPY, and NZDUSD.
- Aligning trades with strong currencies for buys and weak currencies for sells.
2. Considering Advanced Supply Demand
Conclusion
In the dynamic world of Forex trading, staying ahead requires innovative tools. The Currency Strength Meter PRO stands as a testament to this, offering scalpers a unique advantage with its breakthrough algorithm, Tick-Units, and dynamic market analysis. As you embark on your Forex trading journey, consider integrating the Currency Strength Meter PRO to unlock new possibilities and enhance your scalping strategy.
Download Currency Strength Meter Indicator
Please try for at least a week an ICMarket demo account. Also, familiarize yourself with and understand how this free forex Tool works before using it on a live account.
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