Let’s say that the USD is rated as a strong currency at this moment, and the EUR is rated as weak. This then helps traders to create strategies by taking this information and applying it to the charts on their MT4 screens. The indicator’s job is to let the trader know which currency is performing well at a given time and which one is not. It is usually used on MT4, MT5, or any other platform that supports custom indicators, but a Currency Strength Meter app can also be found on the web. The Forex Strength Meter is an algorithm-based technical indicator that helps traders determine the strength of an individual currency.
