The free FX Correlator indicator for mt4 (Metatrader 4) measures and displays currency strength lines for the 8 major currencies.
The major currencies include: EUR, GBP, AUD, CHF, JPY, NZD, CAD, and USD.
The indicator appears in a separate MT4 chart window in the form of colored lines. Each line represents one currency.
How to trade with the FX Correlator?
- Buy a strong currency versus a weak currency.
- Sell a weak currency versus a strong currency.
The FX Correlator indicator can be used for both entry and exit signals or to confirm buy & sell trade setups issued by your favorite trading systems or strategies.
Free Download
Download the “grail EMA.mq4” indicator for MT4
Indicator Chart (EUR/USD M15)
The example chart below displays the FX Correlator mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the FX Correlator indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Currency strength
Does it repaint? No.
