The Currency Meter V5.0 MT4 forex indicator lets you spot strong trending currency pairs.
This currency analysis tool is based on moving averages, Laguerre, RSI and the Williams %R indicator.
All technical indicators analyze each currency pair and the Currency Meter V5.0 displays the outcome of all technical analysis combined in one easy to read table.
- A green arrow next to the currency pair indicates the pair is trending up
- A red arrow next to the currency pair indicates the pair is trending down
Which currency pairs to trade?
Trade the strongest trending currency pairs (+100.00 green symbol and -100.00 red symbol).
Free Download
Download the “currency-meter.mq4” MT4 indicator
Example Chart
The EUR/USD 1-Hour chart below displays the Currency Meter V5.0 Metatrader 4 Forex indicator in action.
Basic Trading Signals
Signals from the Currency Meter V5.0 MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Buy the strongest currency pair(s). The pair(s) must have at least a positive value of +90. Confirm the buy trade with additional technical analysis tools or indicators.
Sell Signal: Sell the strongest currency pair(s). The pair(s) must have at least a negative value of -90. Confirm the sell trade with additional technical analysis tools or indicators.
Trade Exit: Use your own method of trade exit.
Download
Download the “currency-meter.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (MA1 method, MA2 method, RSI period, William %R period, Laguerre gamma) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: trend
Installation
Copy and paste the currency-meter.mq4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)