Hello everybody:
I get asked a lot about my Currency Strength Meter and some of the best ways to use it. I made a short video (26 minutes) covering the 7 ways that I use my meter and I hope it will spark a new idea in your trading or point you to a new direction as you use my Strength Meter later on tonight.
I’d like to encourage you to leave a comment on my blog and share some other ways that you are currently using my meter, I’ll review your comments and incorporate them in my next Strength Meter usage video.
By the way, this video is my way of saying thank you for being my loyal blog fan / newsletter subscriber, as I am launching my Mastermind Mentoring Program for the one and only time in 2010, I’d appreciate if you help me getting the word out!
Once again, thank you,
Henry Liu
{ 109 comments… read them below or add one }
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ur meter is good.. but the color is confusing…i think batter for the lowest is red and for the highest is blue/green. if u can change .. maybe u can switch the position ..like the highest auto switch to the 1 left box and the lowest auto switch to the last box. any way ur meter very good tools. tq.
I have had the Currency Strength Meter on my desktop for 24 hours and none of the values are updated; i.e. USD still 5.10 (Red) 24 hours later.
What gives?
Warren
Hi Warren, please check that you have enabled the DDE server option in your MT4 and if our currency pair names have a suffix, you’ll need to enter them in the meter options under “My broker uses different quote”. Also, enable all currency pairs in your market watch.
when is the new meter coming out?
David, it should be available in the next couple of months. June-July 2011
Henry,
Outstanding indicator, and so, so simple to use. Thank you. Please, please provide a downloadable version of your “Seven Best Uses” video. I want to watch it again and again without connecting to the internet. This information is too good to watch just once.
Anya
i need a link to download this video or the pdf my internet is not strong for me to watch it online
Thank you very interesting.
good job. pls make a pdf format of the 7ways to use the software thanks
hi Mr Liu, i have been on your newsletter for over 3 years now. and i thank you for a job well done. pls, i want you to most of your video to pdf formats so that if we can not access the video bc of our slow server we will be able to read it. i am a Nigerian and proud to be.
Thanks Henry! It’s very imformative. I really enjoyed it. Looking forward for the csm 3.0.
Dear Henry:
Thanks for sharing with us this worderful tool.
I have a question.
If I see a reading of 7.0 it could have two meanings. a) The currency is moving
from 6 to 7 or
b)its moving from 8 to 7 .
How can we identfy without been glue to the computer what really is going on, going
up or going down?
Thanks again.
Hello,
Im curious iwth my broker is in Australia would that effect the calculation of the strenght meter? You mentioned that its calculate from the begining of the day based on NEW YORK time…if it does effect the reading on the meter.
How can i retify that?
Henry L
ps. learnt alot from your newletter, been very focused on the technicals for 2 years now…and decided it was time to research the fundamentals. AWESOME!!! thx
Your currency streng meter gives me this readings.
Usd = 5,1 Euro = 0.00 Gbp = 2.3 Chf =6.00 Cad =9.00 Aud 2,3 Jpy = 9,00 Nzd = 0,00
My Mt4 meter reads.
Usd = 3,4 Euro = 5,1 Gbp = 2,4 Chf =2,2 Cad = 5,2 Aud = 9,0 Jpy =2,8 Nzd = 8.0
How to i adjust this.`??
I dont see how a robot could do your calculations??
I can’t comment on your meter, my meter uses a special weight function based on Bank of International Settlement report.
Also if you are getting 0.0 on NZD, then you need to enable all pairs in your market watch.
Just curious, did you enable DDE serve? Seems if you have such a difference in readings, maybe my meter i not connected.
Hello Henry,
It is because your meter does not work on Micro Account Platform.
I have try on two brokers. If you use a standard account the meter works but when you switch over to a micro account platform it will only have mr michael readings.
This is what i found out.
Thanks
Jensen
Have you thought of allowing the indicator to use charts so you can know how it went before, if there’s any trends of if there is potencial to get a
reversal?
I think this may be really really useful
Thanks for the CSM
Ana La Rosa
I thought about it but since the meter works off relative strength for the day, it is not real practical… think of it this way, if today’s range is 100 pips and yesterday’s range is 50 pips, a strength reading of 8 on both days aren’t necessarily the same… so it would be point less and maybe even misleading, in my opinion.
Thanks so much Henry for the good work that you are doing in the world of forex. I really appreciate it. Could you please provide a download link to the strength meter video, since I can’t be able to view it online because of poor network connection from my end. I have been using the strength meter for about five months now, and it serves as a good guide especially during the release of news.
loaded up the csm this morning, trying to test it out, seems real good so far.
question: when do the numbers on the chart change, as of right now they are the same as this morning
Did you enable DDE server on your MT4, if it is not connected to your MT4, then it is not working.
Full installation guide is on the top of this page.
Henry,
This is great.Thank you very much. I’ll certainly test it out.
I already subscribe to your news letter but I think I have over subscribed as I am getting duplicate e-mails from you….Thought you might like to clear out the clutter…
Really appreciate your info I have been using the other meter since you published it and am looking forward to the new version….Thanks for everthing….Ed
Hi Henry,
Great stuff ! Thank you very much for your teaching.
AWSOME INDICATOR THANX
Hey Henry..
OMG.. Why I found you so late.. I lost REAL 3000 US$ in 3 days.. with very bad habits.. Sincerely very interesting this program and all your news service.. so much to learn with you..
Now Im having a new hope to recover my lost money and dont waste my time ..just following your instruction.
I have some question that i dont clearly undertand..
)) How I interpretate in the table.. Example
2.00 JPN in red and suddenly going again 1.80 in blue? changing 2.00 Red to 1.6 blue?
While.. GPB its 7.00 in RED and going 8.5 still in red?
thank you
G
Have a good day!!
Hi Gregorio, please click on the link below to watch this video on the 7 best uses of the currency meter and how to interpret it.
http://www.currencystrengthmeter.com/76/7-best-uses-to-profit-from-currency-strength-meter/
Hi Henry. Seems to be a great tool.
One thing though, which is software technical. In Europe we have comma (,) as digit seperator instead of dot (.)
but the application is not seeing this and if your regional settings take comma(,) as digit seperator, some other number with .00 appears.
Can that be fixed?
Thanks
Gokhan, at this moment, you may have to set your windows default language as US English for the meter digits to work correctly with the dots.
Henry
Do you use this meter alone or in conjunction with any other signals such as support/resistance areas, fib levels, MA cross overs before making an entry or exit?
Thank you for the meter. I will try it out in demo account first b4 deciding how effective it is but I believe it must be one very effective afterall it has been used by you all these while.
May God bless you.
Hi Henry,
Thanks so much for being a good teacher. I love your patience in explaining the use for the strenght meter. I just downloaded it, I hope it’s going to be very useful for me.
Thanks again
Sam
Hi Henry liu, Your are really a good mentor, may you live long, i just downloaded the Meter, i will surely give back my comment about it. am grateful. Thanks for all, with your signals yesterday NFP, i made real PIPS USDJPY…………..!
thanks henry,u teach like a teacher
This useful software so far is more accurate than other signal. There is no hidden secret. And real ‘trend is your friend’ is there.
A little bit tuning would make this software more accurate.
For those daily trader, scalper, long trader..
THIS CURRENCY STRENGTH METER IS A MUST!
Thank you very much, Henry.
Henry say’s, and I quote, “I try to stick with several pairs that I use most of the time. The 3 choices that I usually trade with the GBP/USD is the EUR/GBP, the Pound/Dollar, Pound/USD, and the Pound Japanees Yen pair.
WHAT????
Tom Yeomans Fan
We would like to see a photo of your ‘Only a Mother Could Love’ Face. Puts.
Hi Henry,i just want to say thank you for your kindness, you are a wonderful person.keep it up God is your reworder. am getting friendly with your strength meter.Chima
thanks henry for your useful meter.
i will try it. Hope it will help me to know the trend.
thanks again
Hi Henry:
Strength meter seems like a fantastic tool. Is there any way it can be made into .mq4 indicator for an MT4 platform? My PC’s CPU fan goes crazy when I turn on strength meter.
Raju
It has been done way before Henry “created” the currency meter. Cant you trolls use google?
thanks for your explanation
After seeing all of these interpretation methods only one thing is absolutely certain.
It does NOT matter what this meter shows. High number could be strong trend , could be overbought ready to turn around ,drop in number could be retracement or trend change etc , etc.
Really universal , you can see whatever you want.
Your currency meter has been one of my must-have trading tools since I stumbled upon it. Thank you!
Henry, Thanks alot, man. Please, as MT5 does not come with DDE SERVER, how are we going to use Currency Strength Meter on MT5. Or do you intend to come out with something different?
Once again, thanks alot.
yea with the dde server checked it shows all blue windows with 0.0. With out it checked it gives readings and never updates stays the same all week
My broker is Edge Capital Markets for my demo
Seem to be having trouble with mine it gives me nothing but blue window even after enabling the dde server
pls how can i get this currency strength meter
Hello Admin,
Enabling DDE on the MBT platform fixed it
all working perfectly now.
Thanks Henry.
Regards Merlyn
A nice one and great thanks for the tutorial.
my question is does strength meter has anything to do with time frame…does is it work better on any paticular timeframe?
The meter doesnt work on timeframes, it shows you the strength from start to end of the day. Once a new day starts, the meter resets.
The build 226 platform that stopped working is with PFGbest.
I do have DDE Enabled and doubled checked it to see if when I upgraded that it changed.
Please try to give us the manual on how to use the meter or explain the meaning of those color changing. thanks a lot the work well done
It is a nice stuff,keep doing good
Henry,
I have been using your currency strength meter for a week or so and I believe it has helped me itentify more profitable trades. When I see a trade or think I see a trade I use the strength meter to help me get a better entry.
It has really helped me in making more pips.
One problem that I have is that one of my platforms has now gone to Build 226 and it is not compatible.
Are you going to post an update for the new build in the download area? I am currently using a demo with build 225 for the strength meter data but trading on build 226
Thanks again for a great tool
David
This may be a new development. But it should have no bearing on the meter, that 226 built.
I have a demo platform of 226 and it is working fine. Can you double check that DDE is enabled on the 226? Also what is the broker?
Sorry to double post but my first reply has now re-appeared ?????
Regards,
Merlyn
Hello Admin,
My last reply seems to have disappeared so I\’ll repeat that that is not the problem. MBT highly modified their version of mT4, taking out lots of the deal desk bits. The result is that some MT4 EAs no longer work and have to be modified before they can be used with MBT. I\’m guessing that that is the problem with your tool.
Regards,
Merlyn
If MBT’s MT4 supports DDE SERVER function, then my tool will work. Again.
Hello Admin,
No it’s not that. MBT have highly modified their version of MT4 taking a lot of the deal desk stuff out so I’m guessing that your tool is just not compatible with their MT4 platform. Pity.
Regards,
Merlyn
It should be compatible with any MT4 platform. Including MBT.
Hello Henry,
Just started using your tool which looks to be very useful. A problem which I have however is that the tool will not activate with my broker’s MT4 platform which is MBT, I have to run an additional MT4 platform, such as Best Direct, at the same time to get the tool to activate. Is there a work around that you know of?
Regards,
Merlyn
Make sure there is no character after the symbol, such as a “m” or “fxf”. (EURUSD is the normal symbol, but sometimes we get EURUSDm or EURUSDFXF from different brokers…)
If you get additional characters after the symbol, make sure you select the checkbox “My broker uses different quote” and then enter in the textbox the additional character.
In the case of EURUSDFXF, you would enter FXF in the textbox.
hi henry what an excellent forex tool you can clearly see what pairs are going to trend just what i have been looking for thank you
This tool appears to be very good. I use it as a trend confirmation with other tools before going in for a trade and you can tell which direction a trade is going on a pair by just looking at the meter. But what I’m not clear, is it the strength of the currency that is determining the trend or is this another trend lagging indicator telling us where price has been? In which case the strength is just an indicator of the prevailing price.Pls some clue how it works.
Aleme:
Please read the article thats talks about the principle behind the meter, right on this site
The strength meter is showing fix numbers as a stand alone unit. The figures for each currency is fixed (not changing). Does it have to be installed at a trading station? If positive, where and how to install it?
Avraham:
http://www.currencystrengthmeter.com/78/currency-meter-installation-guide/
That’s the guide.
Excellent Accurate Forex Tool
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