Thank you for visiting this page where I describe my Currency Strength Meter designed for MT5.
Understanding the underlying trend of the currency pair of your choice, is fundamental to obtaining an edge in the market place.
Using the currency meter, you can see how the monthly, weekly, daily, four-hour and hourly time frames are faring. If all of them are currently showing LONG, which way do you think you should be trading ?
Staying with the trend, is an advantage for the regular trader which is severely overlooked.Even if your entry is bad, late, too early, so long as you are in the general direction of the trend, then you have the chance to correct the situation, as the general flow of the market will take you in your desired direction and recovery becomes a possibility.
If you have monthly, weekly, daily and four hour trades facing the same way then a pull back on the one hour should be viewed with glee and as an opportunity to get in the same direction.
The Currency meter should be used in combination with your favourite momentum tools and with for example bank levels.
Many of you will know that MT4 is an application which dates from 2003.
Metatrader no longer issue MT4 licences to new brokers and are effectively forcing brokers to switch their clients to MT5, indeed some brokers only have an MT5 licence because of this.
When I spoke to Metatrader at one of the IFX expos in 2018 they told me they were about to start switching people off, so to some extent, there is a race on, although I very much doubt traders will find themselves unable to access their MT4 anytime soon.
MT5 is more efficient and offers better possibilities when back testing and part of my 2021 strategy planning is to get much of what I do off MT4 and on to MT5
If you currently only run MT4 and would like to use the Currency Strength Meter which comes as an indicator I suggest you open a demo account and download an MT5 exe and use it just for the purpose of the meter. In addition having a version available will allow you to look around at some of the features on MT5, which are different when compared to MT4.
Please see the details below if you would like to purchase the Exact Trading Currency Meter
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