Currency Strength Alerts Forex Indicator shows the trend strength for the 8 major currencies: NZD, EUR, GBP, USD, JPY, AUD, CAD and CHF. The indicator sorts all the 8 individual currencies from the strongest to the weakest and it is displayed them in top left corner of the MT4 chart.
How to use the Currency Strength indicator?
As a basic rule, always follow the strongest currency. Let’s take sitution on NZD/USD from the picture above as an example. As you can se the, the NZD is the strongest currency and the USD currency is weaker. It is wise to open long trade on the NZD/USD pair than. Imagine reversed situation, analogically when the USD currency is the strongest one while the NZD currency is weaker. In this scenario you should sell the NZD/USD currency pair.