Live Currency Strength Meter
You can use a currency strength meter to help you determine where the certain currency will move and add more confirmation to your trading analysis.
You have live charts with currency strength which are refreshed every few minutes.
Currency strength meter in the Forex or Crypto market has real-time market data where you can see how one currency stands against another currency. Currency strength indicator is a great tool you can use in technical analysis.
What is Currency Strength Indicator
Currency strength indicator also known as CSM is an indicator that tells you what is the strength of one currency against all other currencies. CSMapp currency strength indicator is an online version of the currency strength indicator which is accessible over web browsers.
You can find other types of currency strength indicators such as Metatrader 4 or Metatrader 5 or cTrader indicator which you download and use on the Forex trading platform.
Currency strength indicators use data of currencies in real-time and calculate the strength of each currency against all other currencies on the market.
This currency strength indicator checks all possible combinations of one currency against other currencies to determine the best strength of that currency on the Forex or Crypto market.
That way you get a Forex currency indicator and Cryptocurrency strength indicator.
How Does The Currency Strength Meter Work
Currency strength meter works by using one currency, like EURO, and then compare all possible combinations with major currencies to get the strength of Euro against all other currencies
Major currencies that are used in calculation of currency strength on the Forex market are:
The same process of measuring currency strength is used with other major currencies. That way you can easily get the result of how one currency is strong or how weak currency is compared to other currencies.
The result of currency strength is shown as a bar chart or a line chart which helps you easily see how one currency strength stands against other currencies.
Here is a simple explanation how currency strength meter works:
- You select one currency, like EUR
- Currency strength meter takes EUR as a base currency and then checks for all possible combinations of EUR and other currencies
- Then measures strength against all currencies
- Shows the results on the chart for easier reading
If you are a trader then you have a time frame on which you track Forex currency pairs. To get the best results pay attention to checking the currency strength on different time frames.
Currency strength can be different on different time frames. If you have EUR strong on H4 time frame, but on daily time frame is weak then you should pay attention to use EUR as strong currency against other currencies only on H4 time frame. As a low time frame information.
How Often Is The Strength Meter Updated?
Currency strength meter is updated every minute so you have real-time data on the chart which you can use in your trading analysis.
If you want the last data shown on the chart then you can manually refresh the page to be sure you get the latest information about currency strength.
How to Trade Forex Using the Currency Strength Meter
Trading with a currency strength meter is really easy and all depends on your trading style and your trading analysis.
Strength indicator can be used in technical analysis as a tool to verify if the currency is strong enough to back up the analysis done with other technical tools. That means you make the analysis with RSI or MACD indicator and then verify with strength indicator if the currency is strong or weak to back up the RSI or MACD signal.
If you want to use a strength indicator in fundamental analysis you can do that by confirming the fundamental data of that currency. Do not make mistake using currency strength meter on its own.
For example if EUR will have an increase in interest rates which usually means the price of Euro will rise then you can check the currency strength meter. If the strength meter shows Euro is strong then that will be another confirmation to fundamental data the Euro will rise.
Then you can decide to trade Euro by buying Euro as a base currency.
How do I Download the Currency Strength Meter?
The CSMapp is available as an online version which you can access in your web browser over PC or mobile phone or tablet. CSMapp is not available on the trading platform like the MT4 or MT5 indicator.
Online version is not downloadable because it is much easier to access the currency meter over a web browser on any device than having an indicator for the MT4 platform where you need to have a trading platform.
This way one platform is ruled out and the access to the currency strength meter is simplified.
How do I install the CSM?
CSMapp does not have an installation package, but it is an online version which you access by typing currencystrengthmeter.app into the web browser.
Installation was not an option just to simplify the process of using the strength meter.
There are no issues with which operating system(OS) you have, windows or iOS because it is accessible on all web browsers.
How do you find the Currency Strength Meter?
To find a currency strength meter simply open a web browser, Google Chrome or any other Internet web browser, and type currencystrengthmeter.app.
Web browser will simply open a strength meter which you can use right away.
There are no other steps you need to take in order to use the strength indicator.
How Many Currencies Can I Track With the CSMapp?
In the main version you have 8 Forex currencies you can track and check their strength against all others.
You have 8 major currencies on the market which are listed in the alphabetical order.
In the advance version you have more currencies to track, 23 total currencies, where major and minor currencies are available.
Later on you can expect to have a cryptocurrencies strength meter which you can use in trading them.
How to Know if I’m Using an Accurate Currency Strength Meter?
If you check your web browser and there is written https://currencystrengthmeter.app/ then you can be sure you are using the accurate currency strength meter.
The CSMapp is the best currency strength meter on the market and it is the strength indicator many traders use in trading currencies.
If you have a different URL than the above in your web browser then please check again just to be on the safe side. If there is missing https then you are not on a sage link so retype the right URL.
Free Currency Strength Meter
CSMapp is a free currency strength meter you can use in trading currencies. It is an online free version of strength meter where you have 8 major currencies strengths.
Free currency strength meter is a web based version so it is not meant to be used on windows or iOS as an app.
Advanced Currency Meter
CSMapp is an advanced currency meter showing Forex currency strength and Cryptocurrency strength.
There is no currency strength meter on the market that has Forex and Cryptocurrency strength meter for traders. Advanced algorithm checks all Forex major pairs and Cryptocurrency pairs to determine the strength od currency and cryptocurrency.
Advanced currency strength meter allow you to check the currency strength as a bar chart or line chart. Bar chart is an easy visualization of currency strength where line chart is advanced visualization. Line chart shows currency and cryptocurrency strength through time in the last 30 days period.