Our currency strength meter is updated every 5 minutes. Please note that the meter will only refresh when the Forex market is open. When the markets are closed the meter is paused until they open again on Monday morning.

This is important to understand particularly if you are trading the markets on a smaller time frame. A gap-open on a Monday may give you a false impression on the strength or weakness of a particular currency. We use the standard formula to calculate the percentage of change for a particular currency pair as follows:. We perform this calculation across 28 Forex pairs for each of the 4 time frames and then group the pairs together to work out the underlying strength of a given currency.

AUDUSD: The biggest move today in Forex has come from the New Zealand Dollar. The New Zealand dollar is taking a …. As we move into another week, there are several key events to keep on your radar. As usual, these are …. Pay close attention because these events are ….

Anyone who has been checking the currency strength meter in the last week will …. Currency Strength Meter. Use our free currency strength meter to identify the strongest currencies in the Forex market. The meter performs calculations on 28 pairs to determine the overall strength of each currency. Select Time. Live Currency Strength. Updates available every 5 minutes during open market hours.

Currency Strength of Key Currencies. AUD Strength. More about AUD More about AUD. CAD Strength. More about CAD More about CAD. EUR Strength. More about EUR More about EUR. GBP Strength. More about GBP More about GBP. Buy weakest currencies against strongest currencies reversing weak momentum, otherwise known as reversal trading, not advised for new traders.

These days the global currency markets are interconnected, and you should be following the relative momentum using a Currency Strength Meter. 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 MT4 Currency Strength Meter is gold for you.

Faders and scalpers will also find value in this tool on the lower time frames. not for me then, and not for me now:. This is a CSM that is actually a correlation matrix chart…again, not so great at seeing at-a-glance what pairs to go look at:.

The color code used in the meter is pretty self-explanatory:. BLUE is very weak 0. In the picture above, the GBP is a weak yellow at 2. Also the AudUsd pair is being sold because the AUD is a very weak blue 1. We sell the weaker currency AUD and buy the stronger currency USD , but as a pair….

so the CSM helps us see this. It just takes some practice in a demo account. You can use the individual CSM indicator on any trading system that you currently favor. OR you can buy my Basic or Pro template that has some of my favorite indicators that I use. You can see that the USD is a strong red at 7.

If you look at the CSM, the USD is a very weak blue 1. At the last candle, you can see the the GbpUsd trend is still up after 9 hours and has hit the top of the fibonacci red overbought zone, after pushing past the fibonacci pivot line and fib resistance levels 1, 2, and 3. Buy the stronger currency AND Sell the weaker currency, as a pair.

Sell the weaker currency and Buy the stronger currency, as a pair. On the GbpNzd M15 chart above, you can see how the very strong red GBP 8. Buy the stronger currency, Sell the weaker currency, as a pair. The CSM works with tick data and changes all the time, it may not be very accurate in backtests, but if you just want to see where the market is at in any given point of time, it gives a clear immediate picture. Of course, one word of warning, as with everything Forex, there is no absolute.

These methods have shown to work in the past, and it is relatively reasonable to expect them to work in the future, but of course, there is no guarantee…. Even if sometimes all conditions are right, these methods may not work due to other factors, such as unscheduled or even scheduled news releases, market sentiments, order flows, etc… that are beyond the scope of these methods, so always use caution and most of all, common sense, when using the CSM.

To keep abreast of red economic news events that can drastically affect the readings of the CSM values, please always watch the Forex Factory Calendar:.

Use the filter to set up the calendar for your timezone and filter only the red news events. You can watch the CSM before a red news event and then see the changes in values after the red news event…look at the higher time frames to see if the major trend is the same or has changed…trade the pullbacks using the CSM and your indicators to time your entry after the pullback is over.

The key regarding the Currency Strength Meter is making sure that you combine the individual strength with other components because, of course, strengths are always fluctuating.

I suggest using things like RSI, MACD, trend lines, channels, fibonacci retracements, support and resistance zones, divergence, etc. Once you see a pair to go look at, refine your entry by using other indicators as mentioned. I use the CSM to trade any of my own color coded trading systems, each with unique indicators…but in my training videos I use my Neon Breakout system. 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!

PLEASE WATCH A VIDEO WHICH COMPARES THE BASIC CSM TEMPLATE WITH THE PRO CSM TEMPLATE :. THIS IS THE BEST DEAL FOR YOU! 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. If you are interested in trading with any of my other color coded MT4 trading systems, please visit my main website:.

If you have questions or need support, you can reach Cynthia here:. remove the spaces. Trading From the Beaches of Mexico…. You can too! NFA Required Disclaimer: Forex trading may not be suitable for all customers. Forex trading involves a substantial risk of loss. Simulated conditions may differ from real conditions and traders should not necessarily expect the same results from live trading. Trading is risky and is not suitable for everyone. Only risk capital should be used. You are responsible for your results and agree to hold everyone else harmless if you lose.

You agree to hold harmless all principles, affiliates, and associates from any trading losses or any other harm due to trading. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website.

Use the Live Currency Strength Meter to compare the performance of major currencies relative to others in real time. Strongest currencies that perform against other currencies are marked green , while the weakest are marked red. This table updates in real time and compares current currencies performance against each other with the quotes at the close of previous trading day.

Identify the strength or weakness of various currencies relative to others in real time directly in your trading platform! USD, EUR, GPB, CHF, JPY, CAD and more - you can compare them all! Live Currency Strength Meter is a visual guide that determines what currencies are currently performing strongly, and those that are currently weak. The Switch Markets Live Currency Strength Meter is a simple concept that uses the exchange rates of different currency pairs in order to provide a visual representation of the performance of each individual currency.

Explore benefits and free extras such as other financial calculators you can get if you open an account with Switch Markets.

Calculate your profits and losses before or after executing a trade with our free Forex Profit Calculator. Use our simple yet powerful Forex Lot Size Calculator to calculate the exact position size for each trade and manage your risk per trade like a pro. Access our free economic calendar and explore key global events on the horizon that could subtly shift or substantially shake up the financial markets.

Measure the strength of major currencies relative to others in real-time and quickly and easily determine when a currency is moving strongly in one direction or another. Calculate the swap rate for holding Forex positions overnight before you execute a trade with our free Forex Swap Rate Calculator. Use our Forex compound calculator and simulate the profits you might earn on your Forex trading account. Live Currency Strength Meter Use the Live Currency Strength Meter to compare the performance of major currencies relative to others in real time.

The pair is above prior bar's high. The pair is above prior bar's close but below the high. The pair is flat. The pair is below prior bar's close but above the low. The pair is below prior bar's low.

Live Currency Strength Meter EA for MetaTrader 4 Identify the strength or weakness of various currencies relative to others in real time directly in your trading platform! What is a Currency Strength Meter? Want To Customise Your Own Currency Strength Meter? Create Your Own Heat Map. More Free Tools Brought to you by Switch Markets Explore benefits and free extras such as other financial calculators you can get if you open an account with Switch Markets. Forex Profit Calculator Calculate your profits and losses before or after executing a trade with our free Forex Profit Calculator.

Use Calculator. Forex Lot Size Calculator Use our simple yet powerful Forex Lot Size Calculator to calculate the exact position size for each trade and manage your risk per trade like a pro. Forex Economic Calendar Access our free economic calendar and explore key global events on the horizon that could subtly shift or substantially shake up the financial markets. View Calendar. Market Heat Map Measure the strength of major currencies relative to others in real-time and quickly and easily determine when a currency is moving strongly in one direction or another.

Learn More. Forex Swap Calculator Calculate the swap rate for holding Forex positions overnight before you execute a trade with our free Forex Swap Rate Calculator. Forex Compound Calculator Use our Forex compound calculator and simulate the profits you might earn on your Forex trading account. FAQs Read our frequently asked questions below. If you still need help, contact us today. How Does The Live Currency Strength Meter Work?

Live Currency Strength Meter, also often called a Currency Strength Indicator uses the exchange rates of different forex pairs in order to provide a visual representation of the strength of each currency. Our currency strength meter is a technical tool that uses historical data and live data to provide traders with a quick visual guide to which are the strongest currencies and which are the weakest one.

For instance, at the time of writing this the United States Dollar index is weighted as follows: Euro Our meter is based on more pairs and takes the average gain or loss over a couple of time-frames to provide an overall strength of the currency. Why Should I Use The Live Currency Strength Meter?

To become a knowledgeable trader, it is important you understand the relative strength of each currency. We as traders understand that Forex charts can sometimes not be as straightforward and clear as we would like them to be. The Switch Markets Live Currency Strength Indicator helps traders clearly identify which trading currencies are the strongest and which are the weakest currencies using different time frames. It also saves traders time. The Switch Markets Currency Strength Indicator is fully customisable and free for all to use.

How To Use The Live Currency Strength Meter? Live Currency Strength Meter is a popular technical tool often used by technical day traders that works to show the strength and weakness of all individual currencies so that traders can focus on the currency pairs that have the highest breakout potential compared to the others. Traders can customise the Switch Markets Live Currency Strength Meter to only show their preferred currencies, time-frame and percentage change.

How Do You Measure the Strength of a Currency? The Switch Markets Currency Strength Indicator updates in real-time and compares the performance of currencies against each other using the Close prices of the previous trading day.

The percentages demonstrate how the currency performance compares to the Close price of the last trading day up until right now. The best performing currencies are coloured dark green, whilst the weakest currencies are coloured dark red. How Do You Know If a Currency Is Weak or Strong? You can use The Switch Markets Currency Strength Meter to determine whether the currency is weak or strong.

If your chosen currency is coloured light green or dark green, it means that it is performing strongly at the moment. On the other hand, if the currency is coloured orange or red, it means that the currency is weak.

What Makes Currencies Strong or Weak? There are numerous different factors that can affect currency strength. These include economic releases, news, supply, and demand are other vital forces of the currency. Read more here. Tight spreads that make a difference. Diverse liquidity providers ensure our spreads are tight around the clock.

Trade with spreads as low as 0. First name. Last name. Deposit Amount Currency USD EUR AUD GBP CAD HKD NZD SGD CHF PLN LBP. I am over 18 and have read and agreed with the Terms and Conditions as well as the Privacy and Cookies Policy. Thanks for opening a demo account! Please check your email for login details. Allow up to 5 minutes for the email to arrive. This website uses cookies to improve the user experience. To learn more about our cookie policy or withdraw from it, please check our Cookie Policy Accept.

If you are an intraday trader, you need more recent data. You can use the individual CSM indicator on any trading system that you currently favor. Traders can use these charts to decide which Forex pairs offer them the best trading opportunities. But hours later, if the trend is still strong but in a pullback, you can use the CSM to find a re-entry. Then sell in a much stronger downtrend.

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