Forex Questions and Answers - FXAnswer

Many of the replies below are misguided.

ONLY Henry knows the inter-mechanics of the Strength Meter, but I will give you a Systems Engineers overview of the potential flaws or differences between reading you might have that differ from another.

A couple simple facts about the meter

1. The meter uses 19+ currencies to calculate the strength of each pair.

2. No one here knows how the data is weighted, manipulated, averaged, etc... only Henry Liu knows.

3. Henry states, "strength meter is based on daily ranges of 19+ pairs"

I have an issue with the term "daily ranges". Depending on how Henry coded in MLQ4 (for Meta Trader 4, MT4) it is impossible for anyone to know if the "daily ranges" are the same for each of us. As an example, my broker's servers use EST, so my MT4 data may read a "daily range" differently than others who use a broker with a server time zone of GMT.

(This reminds me, I'm going to open a demo account with a Euro broker to prove this.)

4.The meter gives the strength of 1 currency, NOT A PAIR.
See the attached screen shot of todays (current price action of the NZDUSD Pair. the price action trend is down, but the meter shows NZD at 6.00 abd the USD at 2.70, this would mean an up trend.

Because the meter is comparing 19+ currencies and their "daily ranges", it is very likely that the currency meter can give you a HIGH EUR, a LOW USD, but doesn't mean that the EURUSD is moving up!!!!!!

5. The usefulness of this tool is the INDIVIDUAL strength of a SINGLE currency against 19+.

6. Henry, do you mind giving us a 50,000 ft elevation on the mechanics of the meter.

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Tyce

1 year ago

You can just learn the currency meter, in the long run, you would know which works the best and which is not.

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thegreeks

1 year ago

First you should be very aware and prepared to use the strength meter. its a good tool if u ahndle in a right sense. this is not a indicator like conventional one. it takes the current tick price feed from the major pair and evaluates the absolute strength of individual one. it doent rely on anytime frame. first you go through a video posted by henry on this tool and try to use thereafter. I think its available on his website

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thegreeks

1 year ago

The currencystrengthmeter can be used bset during the impact news fundamentals check Henry's seven ways of how the metercan be used on his site very explanatory.

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Harold

1 year ago