A NEW Template with a Currency Strength Meter plus some of my favorite indicators.
The Currency Strength Meter is now the most important item in my trading toolbox.
I rely 100% on using it for determining pairs to look at to potentially trade.
Use the MT4 Currency Strength Meter to find trades so you don’t have to search the market for hours looking for the right setup…it makes finding trending pairs a breeze.
Using the CSM only takes as little as 3 minutes a day to plan your trades.
Every forex trader needs to learn how to use a Currency Strength Meter… I make it easy!
It is not about deciding whether or not you need to use one, but HOW to implement it to your strategy.
It is, in short, an indispensable tool in trading, as it will show you an at-a-glance view of the current market conditions, allowing you to make timely decisions while taking advantage of strong current market trends…
If you are a momentum trader, this Currency Strength Meter is gold for you.
Faders and scalpers will also find value in this tool on the lower time frames.
Quit Guessing About Currency Strength!
What if there was a tool that instantly told you which individual currencies were the strongest and weakest so you could effortlessly choose the best moving pair at-a-glance?
Here’s a pic of the CSM I like the best, this is what I call at-a-glance simplicity…once you learn about the simple color value correlations, it’s super easy to use and with a glance of about 2 seconds, you’ll know what pairs to go look at:
The color code used in the meter is pretty self-explanatory:
BLUE is very weak (0.0 ~ 2.0)
YELLOW is weak (2.0 ~ 5.0)
ORANGE is strong (5.0 ~ 7.0)
RED is very strong (7.0 ~ 9.0).
The GBP is a weak yellow at 2.0 and the CAD is a strong orange at 5.7, so the GbpCad is selling off, the trend is down for this pair.
We sell the weaker currency (GBP) and buy the stronger currency (CAD), but as a pair….so the CSM helps us see this, AT-A-GLANCE.
Also the AudUsd pair is being sold because the AUD is a very weak blue 1.8 versus a very strong USD red 7.0…. so the AudUsd is going down.
We sell the weaker currency (AUD) and buy the stronger currency (USD), but as a pair.
Once you start using the CSM, it gets very easy to see at-a-glance, which pairs to go look at. This saves you an incredible amount of time, no more flipping thru dozens of charts looking for a pair to trade, getting confused, and getting it wrong 99% of the time!
Don’t worry, it’s much easier than you think! It just takes some practice in a demo account.
You can use the CSM template as a stand-alone trading system, OR, you can use the CSM indicator without the template, with any other trading system that you like.
Dedicated to your trading success,
Trading From the Beaches of Mexico…. You can too!
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