The currency strength Giraia28 pairs TRO modified indicator MT4 displays the currency strength for each currency pair on the chart. The indicator also displays the currency strength in different colors depending on its strength. The indicator also provides a net value for the currency pair on the current chart, and a BUY or SELL signal. Forex traders can create trading strategies based upon the currency meter, and then trade them accordingly.
This indicator is suitable for both novice and experienced forex traders. Technical traders are notified when the relative currencies’ bullish and bearish strengths alert them to buy or sell. This indicator is applicable to any time frame, including higher intraday and longer time frames. It still gives the same currency strength so it doesn’t matter what time frame you use.
Currency Strength Giraia 28 pairs MODIFIED Indicator for MT4 Trading Signals
The MT4 indicator is shown in action on the M15 price chart (AUDUSD). The indicator also shows currencies with different colors that indicate the strength level.
Higher values signify a bullish currency. Lower values indicate strength in the bearish side. Technical traders should trade the strongest currency against the weakest and combine them.
The net value of a currency pairing should be positive and greater than six. If this happens, traders should place a buy trade with stop loss at the swing low. If the pair’s strength falls below four, traders should book profits or exit with good risk-reward.
Forex traders should also enter the market with a SELL order if the pair’s price is greater than -6, with a stop loss at the swing high.
The currency strength Giraia 28 pairs TRO modified indicator for MT4 allows forex traders to identify bullish and bearish currencies and then buy and sell according to their strength. The indicator is also available for download and installation by traders.