Our meter is based on more pairs, and takes the average gain or loss over a couple of timeframes to give an overall strength. It doesn't calculate a price like an index does, it gauges the strength on a numerical scale. Copyright © Live Charts UK. All rights reserved. Designed inhouse by Live Charts Special Thanks to Forex Rate Site Map. Trading Info Centre. Members area Currency Strength Meter Dow jones Crude oil Spread betting Daytrading Forex Advertise!

Login to message board. uk Currency Strength Meter Our currency strength meter gives you a quick visual guide to which currencies are currently strong, and which ones are weak. Read our share trading guide! How does the Live currency strength meter work? The Forex currency strength meter takes takes readings of different currency pairs over a specified period of time, and applies calculations to each of them individually.

Afterwards, it combines together each associated and determines the overall live strength of the individual currency pair e. This allows traders to see at just a quick glance how strong or weak various currencies are, with positive green readings indicating strength, and negative red readings indicating weakness. Great, we're here for it! Let the Currency strength meter work for you! Create your own Currency Strength Meter and compare the relative strength of your chosen currency pairs.

All you need to do is drag your base currency and quote currency to the table. It's really that simple. This is not just your average strength meter! Our economic calendar showcases relevant events to help you trade these markets too. Calculate the correct lot size for your trade depending on your risk appetite. Enter your entry price and check your risk tolerance. Use our profit calculator to calculate the possible profit from a trade you are considering taking. Use our free currency heat map to determine the strongest and the weakest currencies on the forex market today.

Struggling to find Pivot Points on your chart? With our free pip calculator you can calculate the pip value in the currency you want to trade in and manage your risk before entering a trade. Simulate your potential returns with our advanced Monte Carlo Simulator developed by internationally-recognised Forex market analysts. The Forex margin calculator can help you calculate the exact margin needed to open and hold your trading position with ease and trade with confidence. Calculate the Compound Annual Growth Rate of your investments with our easy-to-use CAGR Calculator.

Using the currency heat map to help you with your trading is one thing, but make sure you are also with a reliable broker. It allows us to determine, for example, whether the US dollar is strengthening or weakening, which is always essential to know. Another thing to note is that a particular currency's strength is always determined by the timeframes you set for it. For example, EUR can be solid for today's timeframe, but it is one of the weakest on the list in monthly analysis.

Depending on your Forex trading style, you may need to look at other time frames. If you are an intraday trader, you need more recent data. If you are a long-term trader, you need monthly values. Our site checks forex data every minute in real-time and determines the strength. Any changes will be displayed when you refresh the page. There are many ways to use the currency strength meter in your trading, and they all depend on your trading style.

If you are trading in the trend direction, get the most robust trend based on the pair with the strongest and weakest currency. If you want to trade in a range, you can choose currencies where there is a slight difference in strength. The way recommended by the professionals is to use a forex strength meter as an additional confirmation.

It gives a snapshot of the currency's current strength, which helps make trading decisions or verify signals provided by other indicators. However, it is not more than a "feel" for the market, and we always use it with long-term indicators like MACD or SMA.

For any ideas and suggestions related to the functionality of the currency strength meter, do not hesitate to contact us.

Our currency strength meter gives you a quick visual guide to which currencies are currently strong, and which ones are weak.

The meter measures the strength of all forex cross pairs and applies calculations on them to determine the overall strength for each individual currency.

Please see notes below for further details. The meter takes readings from every forex pair over the last 24 hours, and applies calculations to each. It is useful as a quick guide to which currencies you might want to trade, and which might be worth staying away from. For instance, if a certain currency is very strong, and another suddenly turns weaker, you may find a trading opportunity.

Such deviation between pairs usually indicates momentum. Conversely, if two currencies are weak, strong or average strength, there is often a range or sideways movement happening. You might want to stay away from trading those pairs. It checks our real time forex data every minute and determines the current strength. Any changes will appear if you refresh the page.

Sure, let me show you a couple taken right now. Go to this page and see our examples ». This is different to a currency index. Instruments such as the US Dollar Index are weighted indexes which compare the Dollar's value relative to a basket of other currencies. For instance, at the time of writing this the US Dollar index is weighted as follows: Euro Our meter is based on more pairs, and takes the average gain or loss over a couple of timeframes to give an overall strength.

It doesn't calculate a price like an index does, it gauges the strength on a numerical scale. Copyright © Live Charts UK. All rights reserved. Designed inhouse by Live Charts Special Thanks to Forex Rate Site Map. Trading Info Centre.

Members area Currency Strength Meter Dow jones Crude oil Spread betting Daytrading Forex Advertise! Login to message board. uk Currency Strength Meter Our currency strength meter gives you a quick visual guide to which currencies are currently strong, and which ones are weak. Read our share trading guide! Read our spread betting guide! Read our CFD trading guide! Read our forex trading guide! futures charts NYSE Stocks Currency Trading News Crypto Charts.

Read our CFD trading guide! If you are trading in the trend direction, get the most robust trend based on the pair with the strongest and weakest currency. The basic idea of the strength meter is to think of it as a "filter" in decisions. In addition, our calculation method shows the direction of the change pointed with arrow close to the name of the currency. It checks our real time forex data every minute and determines the current strength.

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