Technical Indicators for MetaTrader 4
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MetaTrader 4
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Overview
Your success as a forex trader depends on being able to identify when a currency or currency pair is oversold or overbought. If it is strong or weak. It is this concept which lies at the heart of forex trading. Without the Quantum Currency Strength indicator, it is almost impossible. There are simply too many currencies and too many pairs to do this quickly and easily yourself. You need help!
The Quantum Currency Strength indicator has been designed with one simple objective in mind. To give you a bird’s eye view of the eight major currencies. To show you in a simple, quick and easy way, when a currency is either oversold or overbought. In other words, strong or weak.
To help you, the indicator defines these regions for you, with a simple horizontal line. One near the top at 80, and the other near the bottom at 20. When a currency reaches the upper grey line, then it is approaching an overbought state, and when a currency touches the lower grey line, conversely it is approaching an oversold state.
It is at these points that a trend is likely to reverse, offering you low risk trading opportunities. Something that you could never do quickly or easily yourself.
It displays the eight currencies individually, giving you endless combinations of trading opportunities from scalping to swing and trend trading in all the various currency pairs.
- US dollar – red
- Euro – orange
- British pound – yellow
- Swiss franc – green
- Japanese yen – blue
- Canadian dollar – purple
- Australian dollar – pink
- New Zealand dollar – white
Whilst this concept is simple, its use is sophisticated, and one which you can apply in a variety of ways. In fact four very different, but equally powerful ways, all of which will help you make money, confidently and without emotion:
- First – the indicator tells you when an individual currency is overbought or oversold. Strong or weak. Unlike some assets, currencies never go to zero. It is when they reach these extreme points, that currencies offer the lowest risk trading opportunities. These are the regions at which a currency is likely to reverse from a previous trend, giving you the potential to get into a low risk trading position early.
- Second – the indicator will also tell you when it is time to exit. After all, if it’s good enough to get you in, then it’s good enough to get you out as well!
- Third – when the currencies are all bunched together in the middle of the indicator – then guess what! It’s time to sit on the sidelines and wait.
- Finally, take your trading to another level using multiple timeframes. After all, if a currency is moving higher, or lower, across three timeframes, then even more reason to take a low risk trade.
And if this wasn’t enough. There is even more!
You can configure the indicator to your own trading style. Yes, you did read that last sentence correctly. You can fine tune the Quantum Currency Strength indicator to your own personal trading style. Think of it like the volume control on your radio. You adjust it to your own personal preference. Well it’s the same here. If you are a scalping trader, simply adjust one of the indicator settings to speed up the indicator. If you are a swing or trend trader, tweak the controls to slow it down a little – the choice is yours. More control means one thing – more consistency and greater profits.
After all, why buy an indicator that you cannot match to your trading style? It would be like buying a radio with no volume control!
That’s why we call them the next generation of MetaTrader 4 indicators.
The Quantum Currency Strength indicator works with all MetaTrader 4 brokers, even those where the currency has a suffix or prefix. It can be applied to both demo and live accounts. The currency colours can be changed to suit your personal preference, and works in all timeframes from 1 minute to 1 month.
