The bar chart shows the number of closes for every price interval. This representation helps identify bottleneck areas, support and resistance.
Price Distribution Between Bollinger Band
The bar chart shows the distribution of prices inside to the Bollinger bands. This chart gives us the percentage of times where the courses fall outside or inside the Bollinger bands.
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The currency strength meter gives you a quick visual guide to which currencies are currently strong, and which ones are weak. The meter measures the strength of all forex cross pairs and applies calculations on them to determine the overall strength for each individual currency. Please see notes below for further details.
How Does The Currency Strength Meter Work?
The meter takes readings from every forex pair over the last 24 hours, and applies calculations to each. It then bundles together each the associated pairs to an individual currency (eg, EUR/USD, EUR/JPY, EUR/GBP etc) and finds the current strength.
How Can This Help Me?
It is useful as a quick guide to which currencies you might want to trade, and which might be worth staying away from. For instance, if a certain currency is very strong, and another suddenly turns weaker, you may find a trading opportunity. Such deviation between pairs usually indicates momentum. Conversely, if two currencies are weak, strong or average strength, there is often a range or sideways movement happening. You might want to stay away from trading those pairs.
BUY MEN'S WATCHES
The currency index represents the evolution of a currency relative to the entire forex. The index is the average of one currency compared to others. The chart representation makes it easy to view trends by currency.
Momentum and Trend Trading:
Buy an Underlying Currency that is Strengthening with Space to Continue Up
Sell an Underlying Currency that is Weakening with Space to Continue Down
Daily and Weekly Mean Reversion Trading:
Buy an Underlying Currency that is Oversold + Consolidating
Sell an Underlying Currency that is Overbought + Consolidating
Strength Meter Chart represents the price movement for major currencies measured against other majors. Results shows strength and weakness against a customizable basket of currencies. Useful to detect then identify which crosses have been trending. Gives trend length perspective + OB or OS relativity. Overextended data on higher TFs serve as possible indication for Mean Reversion strategies or to hedge risks.
