This Currency Strength Meter is a Forex trading tool that displays currency strength for several currencies on multiple time-frames.
What is Currency Strength?
Currency strength is a unique way to assess price action in the Forex market. Instead of watching individual Forex pairs, currency strength measures the strength of an underlying currency.
This gives important insights into the forces at play causing a move in a particular Forex pair.
For example, if GBP/USD is breaking out to the upside, currency strength can be used to determine if the move is due to GBP strength or generalized USD weakness. If it's due to USD weakness, there might be trading opportunities on other USD pairs.
Currency strength is calculated using our own propriety algorithm. We first introduced this is 2011 with our first generation currency strength meter. The algorithm has been refined over time to enhance it's accuracy and responsiveness to changes in market conditions and has proven popular with traders.
This App uses the same proven algorithm but with even faster refresh rates and lower latency.
Currency strength is displayed in either bar or chart form and is measured for 8 currencies : USD (US Dollar), EUR (Euro), GBP (British Pound), JPY (Japanese Yen), CAD (Canadian Dollar), AUD (Australian Dollar), NZD (New Zealand Dollar) and CHF (Swiss Franc).
The standard App supports 4 time-frames (4-Hourly, Daily, Weekly and Monthly).
An optional Data Booster Pack adds 15-minute and 1-hourly time-frames. This is available as an In-App purchase subscription, and can be accessed on all of your IOS devices.
Features:
- low latency real-time data, with fast refresh rates
- up to 6 time-frames
- bar chart display with historical look-back feature and landscape mode support
- customizable charts - hide/show currencies, customizable grid lines
- 50%, 100% chart zoom
- customizable time zone
- several color themes
- optimized for iPhone 6/6+ screen size
- built in user guide
- proven, popular currency strength algorithm
