|This currency Strength Robot Is Based On The Famous Currency Strength Meter That Turned $10K o $1M in 90 days!
The currency strength Indicator developed by Mr Am became very popular so it has now been turned on an Expert Advisor. Mr Am is one of the famous news traders who is also known as the News Profiteer.
Our currency strength EA gives you a quick visual guide to which currencies are currently strong, and which ones are weak.
The signals are based on Currency Strength Meter and secret calculation formula. This Currency Strength Meter was made based on candlestick formula.
The Expert Advisor measures the strength of all forex cross pairs and applies calculations on them to determine the overall strength for each individual currency.
These news trading cheat sheets give you the list of tradable news and how to trade it. Mr Am has turned his extremely popular currency strength meter on a 100% automated trading robot!
This is a typical currency strength measurement tool based on price action of the candle. This is an expert advisor, simply have a visual display to help you to monitor the best currency pairs to trade.
Currency Strength Robot is a unique Expert Advisor for determining the short-term strength of any currency.
Each currency strength is determined by an index of the currency with the strength of 7 other major currencies. An Expert Advisor is constantly monitoring price action across 28 currency pairs and 56 combinations; taking the following o consideration
- Price volatility.
- Short-term price range.
- Short-term price action and candle formation.
The currency strength Expert Advisor concept is measured based on the time frame that it is placed on.
For best results use the default setting .
- A strong currency is indicated with a GREEN color above 7.0.
- A weak currency is indicated with a RED color below 2.0.
- Currencies that are GREY are not trending.
If all currencies are GREY then Expert Advisor will wait for a better time to trade. In fact this is great Open Position if time it right. As soon as one of the currencies breaks out into a STRONG or WEAK indication then there is an opportunity to grab some nice pips.
This an Expert Advisor is always trade a pair that is WEAK/STRONG or vice versa.
For example, if AUD is 7.0 and USD is 2.0 then you should look Expert Advisor will BUY position on AUDUSD.
Another, if EUR is 3.5, USD is 4.0, GBP is 5.0, JPY is 4.0, CHF is 3.0, CAD is 4.5, NZD is 4.5 and AUD is 3.0 – then the market is not moving, most likely waiting for a news release. When one of the currencies breaks above 6.0 or below 2.5 the Expert Advisor enter a trade. Its depend your setting value eg: USD_Strong = 6.0; USD_Weak = 2.5; High_CCY_Strong = 6.0.; High_CCY_Weak = 2.5;
This is my favorite Expert Advisor for automatic picking the right pair.
How Does The Currency Strength Expert Advisor Work?
The EA 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, GBP/USD, USC/CAD etc) and finds the current strength and then open position automatically.
How Can This Help Me?
This Expert Advisors are programs that allow automation of the analytical and trading processes which currencies will open position, and which might be worth staying away from. For instance, if a certain currency is very strong, and another suddenly turns weaker, this EA 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. This EA will to stay away from open trade those pairs.
How Often Is The Expert Advisors Meter Updated?
It checks real time forex data every tick and determines the current strength. It changes will appear automatically without you refresh.
Expert Advisor Concept
Checks with all of the currencies that your broker uses to match a strong currency with a weak currency; i.e. Following the trend.
How To Use
- Show All pair in Market Watch.
- Drag EA to chart (any timeframe) and use default setting if you don’t know.
- Combine weak currencies with strong currencies setting. This will always be a trending condition. For instance if AUD has 5 red bars (weakness) and USD has 5 green bars (strength), sell AUDUSD.
- Avoid combination setting of strong vs strong or weak vs weak pairs. This will be a ranging condition.
- UseHedging = TRUE; Activated hedging function
- TP = 1000; For take profit by pips (just for security)
- SL = 450; For stop loss by pips (just for security)
- MaxPost = 3; Maximum trade open
- TrailStop = 100; For trailing by pips
- MaxSpread = 50.0; Spread filter
- LotExp = 2.0; Lot exponent
- Gap = 400; Pips range gap
- MyProfitUSD = 2.00; Profit want grab in USD
- MyLostPips = -300; Secure cut loss by pips
- TradeIkutJam = TRUE; Trade by hour activated
- MulaJam = 0; Trading Hour Begin
- HinggaJam = 23; Trading Hour Ending
- NoTradeHoliday = TRUE; Holiday no trade
- NoTradeMonday = FALSE; No Trade Monday
- NoTradeFriday = FALSE; No Trade Friday
- Lots = 0.01; Minimum Lots
- Slippage = 3; Slippage
- USD_Strong = 6.0; USD Currency Strong Value
- USD_Weak = 4.0; USD Currency Weak Value
- High_CCY_Strong = 6.0; High Yield Currency Strong Value (GBP,EUR,CAD,NZD,AUD)
- High_CCY_Weak = 4.0; High Yield Currency Strong Value (GBP,EUR,CAD,NZD,AUD)
- WPR_OS_Level = -5.0; William Percents Range Indicator Oversold Value
- WPR_OB_Level = -95.0; William Percents Range Indicator Overbought Value