Currency Power Meter Indicator
Indicators of individual strengths and weaknesses of currencies. With this knowledge, traders can use the weaknesses and strengths of currencies to select currency pairs that are likely to be profitable. You can also refer to this as a currency strength indicator.
Using the Currency Strength Indicator is simple. Load the indicator and compare the strengths and weaknesses of the currencies. Select the strong and weak ones. Then open the currency pair chart and use other forex analysis tools (such as other indicators and market structures) to find trade entries.
For example, the AUD has a strength of 7.5 in the daily timeframe, while the EUR is 2.7. Therefore, you want to trade EURAUD in the daily or 4-hour timeframe. since the AUD has a higher strength and the EUR has a lower strength, you look for sell signals on the pair.