The Universal Strength Meter Forex Indicator for MT4 is an essential tool designed to measure the relative strength of multiple currency pairs simultaneously.
It helps traders quickly identify which currencies are strong or weak at any given moment, enabling more informed and precise trading decisions.
Key Features
- Real-Time Strength Readings: Displays the strength and weakness of individual currencies based on multiple pairs, updated in real time.
- Comprehensive Overview: Provides a snapshot of all major currency strengths on a single dashboard, saving time and improving market analysis efficiency.
- Customizable Display: Allows users to adjust timeframes and strength calculation methods to fit their trading style.
- Easy Integration: Works seamlessly on MT4 and can be used alongside any other indicators or strategies.
How It Works
The indicator calculates the relative strength of each currency by analyzing price movements across multiple currency pairs.
It then visually represents the strength levels, typically using bars or numeric values, enabling traders to quickly spot strong currencies to buy and weak currencies to sell.
Why Use the Universal Strength Meter?
- Enhance Pair Selection: Identify the best pairs to trade by pairing the strongest currency with the weakest for higher probability trades.
- Confirm Trends: Use strength readings to confirm if a currency’s movement aligns with the overall trend or if a reversal is likely.
- Filter Signals: Improve the accuracy of your other technical indicators by filtering trades based on currency strength.
- Adapt to Market Conditions: Quickly adjust your strategy according to shifts in currency strength during different trading sessions.
Free Download
Download the “$Zalbu_FFx_Universal_Strength_Meter.ex4” indicator for MT4
Indicator Chart
The EUR/USD 1-hour chart below showcases the Universal Strength Meter indicator in action.
Why Use the Universal Strength Meter?
- Enhance Pair Selection: Identify the best pairs to trade by pairing the strongest currency with the weakest for higher probability trades.
- Confirm Trends: Use strength readings to confirm if a currency’s movement aligns with the overall trend or if a reversal is likely.
- Filter Signals: Improve the accuracy of your other technical indicators by filtering trades based on currency strength.
- Adapt to Market Conditions: Quickly adjust your strategy according to shifts in currency strength during different trading sessions.
Recommended Timeframes and Trading Styles
The Universal Strength Meter is flexible and can be used for scalping, day trading, or swing trading.
Commonly, traders use it on M15, M30, H1, and H4 charts to get both short-term and medium-term strength insights.
Download Now
Download the “$Zalbu_FFx_Universal_Strength_Meter.ex4” indicator for Metatrader 4
Universal Strength Meter + Waddah Attar Metatrader 4 Scalping Strategy
This strategy merges the broad market insight from the Universal Strength Meter Forex Indicator with the precise momentum and volatility signals of the Waddah Attar Forex Scalping Indicator.
By combining currency strength analysis with momentum confirmation, traders can scalp high-probability moves with better timing and accuracy.
Strategy Setup
- Indicator 1: Universal Strength Meter (Identify the strongest and weakest currencies in the market)
- Indicator 2: Waddah Attar Scalping Indicator (Confirm momentum, volatility, and entry timing)
- Timeframes: Best on M1, M5, and M15 for scalping
- Pairs: Major and minor forex pairs, ideally those showing clear strength/weakness divergence
Buy Entry Conditions
- Use the Universal Strength Meter to identify a currency pair where the base currency is strong and the quote currency is weak.
- The Waddah Attar indicator shows a green explosion bar, indicating strong bullish momentum and volatility.
- A green arrow or Buy signal appears from the Waddah Attar indicator, confirming the entry.
- Enter a Buy trade on the candle close after the signal confirmation.
- Place a Stop Loss below the recent swing low or volatility support level indicated by Waddah Attar.
- Take Profit can be set at a fixed pip target or based on a trailing stop using the Waddah Attar momentum bar.
Sell Entry Conditions
- From the Universal Strength Meter, identify a pair where the base currency is weak and the quote currency is strong.
- The Waddah Attar indicator shows a red explosion bar, indicating strong bearish momentum and volatility.
- A red arrow or Sell signal appears from the Waddah Attar indicator, confirming the entry.
- Enter a Sell trade on the candle close after signal confirmation.
- Place the Stop Loss above the recent swing high or volatility resistance level.
- Set Take Profit at a fixed pip target or trail the stop according to the Waddah Attar indicator’s momentum bar.
Why This Strategy Works
The Universal Strength Meter helps you select pairs with clear directional bias by measuring currency strength, while the Waddah Attar Scalping Indicator provides real-time confirmation of momentum and volatility necessary for scalp trades.
This dual approach reduces false entries and ensures trades align with the strongest market moves.
Final Thoughts
The Universal Strength Meter Forex Indicator for MetaTrader 4 is a valuable tool for traders seeking to assess the relative strength of the eight major currencies.
By providing real-time strength readings, it enables traders to identify the strongest and weakest currencies, facilitating more informed trading decisions.
This indicator is particularly useful for strategies that involve trading currency pairs with a clear strength disparity, such as pairing a strong currency with a weak one.
For optimal performance, consider combining the Universal Strength Meter with other indicators, like the Waddah Attar Scalping Indicator, to confirm momentum and enhance trade accuracy.
