MT4 Currency Strength Meter is a Forex indicator built to help traders find trending pairs without having to use the normal time-consuming methods. The developers feel that their indicator is affected even after every move has taken place, so traders can find “the pullbacks and trade the retracements when the trend resumes.”
The software is developed by Cynthia Macy, the owner of Day Trade Forex. We reviewed Cynthia as a Forex trader back in 2012, and exposed the fact that she (or he), is using an image of famous actress Jessica Alba as their profile image. At the time, we found this to be quite strange, and we had some funny conversations about it in the the comments section of that review. To this day, the vendor still uses an image of Jessica Alba which we believe is quite unprofessional.
In order to get in touch with support, traders can email firstname.lastname@example.org.
MT4 Currency Strength Meter Review
The purpose of the MT4 Currency Strength Meter indicator is to look at the 8 most popular currencies and provide real-time information about their strength and weakness levels. Then, traders can utilize this information in 4 different ways to place trades.
- Long momentum trades from buying the strongest currencies against the weakest.
- Short momentum trades from selling the weakest currencies against the strongest.
- Fading strong momentum reversal trades by selling the strongest currencies against the weakest.
- Reversing weak momentum reversal trades by buying the weakest currenceis against the strongest.
Cynthia recommends the first 2 options for everyone, and the last 2 options for just advanced traders that experience dealing with reversal trends. The best Forex indicators generally provide in-depth information like this, which is ideal.
Is apparent that the MT4 Currency Strength Meter does come with a fair amount of strategic insight, which is good to see. Cynthia frequently adds videos to her YouTube channel with different trade examples, which is helpful to the process.
An indicator like this is a helpful tool, but it does take experience with the software, and a learning curve. Don’t expect to put this indicator on your chart, and start winning trades immediately if you don’t have prior Forex trading experience.
Whether you are a momentum trader, or a fader and scalper, this tool can be utilized for many different trading methodologies.
Currency Strength Meter Explained
The Meter is coded in 4 different colors. Blue is very weak, yellow is weak, orange is strong and red is very strong.
You can see the details in the diagram here:
- Type: Forex Indicator
- Price: $147
- Strategy: Currency Strength
- Timeframe: All Timeframes
- Pairs: All Pairs
As it stands, the MT4 Currency Strength Meter is going for $147. The software comes with both the basic and Pro templates, a helpful setup guide and 24/7 support.
Strangely, there is no refund policy for the product, and Cynthia mentions multiple times of the sales page that traders have to agree to this no refund policy if they are interested in purchasing the software. Considering the software is being sold via PayPal, you could always do a PayPal resolution to get your funds back, as that’s part of their policy. Either way, this is a very strange request by the vendor, and not something we’ve seen in recent reviews of other indicators like Dream Signals 3 and Fibo Quantum Scalper.
While there are a handful of videos and different trade examples, there is really nothing the truly resembles verified trading results. Cynthia should certainly consider trading the MT4 Currency Strength Meter for at least a few months, and then upload those results to Myfxbook. This is a process that would take less than 5 minutes to complete, and it would help us to see the software can be utilized to grow a trading account.
We do believe it is up to the vendor to prove that a trading software is viable, before we purchase it.
The sales page isn’t the most professional looking, but there are both negatives and positives to the MT4 Currency Strength Meter indicator. We appreciate the in-depth analysis, with multiple trade examples, and details of how to use the indicator properly on the sales page. Yet, the trading results section is lacking severely, and Cynthia has not proven to us that even she can win trades using the software. This is definitely something we would like to see, before signing up.
If you have anything you would like to say, leave a comment now.
MT4 Currency Strength Meter $147
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MT4 Currency Strength Meter is a Forex indicator that apparently is developed by Jessica Alba.
In-depth sales page
Unprofessional looking website