App Profile: FX Meter - Currency Strength

xachisonfire

Rating: 5/5

I guess if you trade 4hr and 24hr timeframes, this would be helpful. Any timeframe between 24 and 4 hrs, and lower - this meter is inaccurate. It’s easy to see moments when a currency gains overall strength, loses strength, or becomes more neutral based on chart reads. If you try to go off this meter, it has the potential to put you in a bad position because the CURRENT strength doesn’t line up with the app. For example: today I scanned my 1hr USD charts AFTER looking at the app’s reported strengths. USD has been reported NEUTRAL all day long on FX Meter. When I opened my charts, I noticed that USD was dominating the majority of pairs, including currencies reported as +7 on the app. I have another source I use for currency strength, which has been accurate 99% of the time. I’m not saying the app is entirely useless. I’m just saying that if you’re going to rely on it in your strategy, make sure you’re a trader who prefers the 4hr and 24hr timeframes. Having easy and quick accessibility to a currency strength meter was an exciting thought, but not if it’s accurate on 2 timeframes alone. I’ll stick to my other source, personally, for more accurate strengths at timeframes I prefer to trade. In the future, if the app is updated more frequently, it would be worth the subscription for me.

Allegra-Aguirre

Rating: 5/5

I am absolutely amazed at the precision of this forrcast. I actually make an excel table and at the end of the day check if the move was where the strength was and 65-70% of the time the FX meter ir right! Amazing! my routine is to get the pairs that have a 5 or 7 with a pair that has a 1 or 3 positive and negative and trade only in the direction of this indicator. It’s the best indicator. Congratulations to those minds Navin and his tean for developing this. I now feel much more secure on the direction I should take every day and my trading has improved drastically! Good Luck!

Kenalsworld

Rating: 5/5

The app is updated manually and is a great way to find trends that are about to beginning or trends ending. It’s hard to program the market for correlation even with live number updates, it can throw you off. This is definitely the first thing I look at to filter trades. I still do my own manual correlation and compare them to the app for confluence as a second confirmation of strength. Navin and his team always deliver.