CurrencySt Alerts Metatrader 4 Forex Indicator
The CurrencySt Alerts MT4 forex indicator displays the trend strength for the 8 major currencies: NZD, EUR, GBP, USD, JPY, AUD, CAD and CHF.
It ranks the 8 currencies from very strong to very weak in a table directly visible on the MT4 activity chart.
How to trade with the Currency Strength indicator?
As a general rule, always trade the strongest currency versus the weakest currency.
For example, as shown in the NZD/USD chart below, the NZD currency is the strongest while the USD currency is the weakest, so it makes sense to buy the NZD/USD pair.
Imagine the USD currency is the strongest while the NZD currency is the weakest, in this case we would sell the NZD/USD currency pair.
Basic Trading Signals
Signals from the CurrencySt Alerts
MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Buy the strongest currency versus the weakest currency. Confirm the buy trade with price action or additional technical indicators.
Sell Signal: Sell the weakest currency versus the strongest currency. Confirm the sell trade with price action or additional technical indicators. See the NZD/USD example above for better understandings.
Trade Exit: Use your own method of trade exit.
