This release contains bug fixes and general improvements
Ratings and Reviews
Great Way To Find Trends
The app is updated manually and is a great way to find trends that are about to beginning or trends ending. It’s hard to program the market for correlation even with live number updates, it can throw you off. This is definitely the first thing I look at to filter trades. I still do my own manual correlation and compare them to the app for confluence as a second confirmation of strength. Navin and his team always deliver.
I guess if you trade 4hr and 24hr timeframes, this would be helpful. Any timeframe between 24 and 4 hrs, and lower - this meter is inaccurate. It’s easy to see moments when a currency gains overall strength, loses strength, or becomes more neutral based on chart reads. If you try to go off this meter, it has the potential to put you in a bad position because the CURRENT strength doesn’t line up with the app. For example: today I scanned my 1hr USD charts AFTER looking at the app’s reported strengths.
USD has been reported NEUTRAL all day long on FX Meter. When I opened my charts, I noticed that USD was dominating the majority of pairs, including currencies reported as +7 on the app.
I have another source I use for currency strength, which has been accurate 99% of the time.
I’m not saying the app is entirely useless. I’m just saying that if you’re going to rely on it in your strategy, make sure you’re a trader who prefers the 4hr and 24hr timeframes.
Having easy and quick accessibility to a currency strength meter was an exciting thought, but not if it’s accurate on 2 timeframes alone. I’ll stick to my other source, personally, for more accurate strengths at timeframes I prefer to trade.
In the future, if the app is updated more frequently, it would be worth the subscription for me.
Developer Response ,
The app can be used on lower time frames too. The way to do it is by trading in the direction of the numbers as indicated in the app. You of course only do that if there are setups that indicate the same direction.
That is the ground rule, don't trade without a setup. By not trading against the numbers of the FX Meter the chances of having losing trades decrease.
Also, by trading with the strength numbers the probability of catching a much bigger movement from a lower time frame increases.
Any other currency app is only an automated indicator that follows the market and by the time it shows strength or weakness, it has already happened and you missed it.
Trading to Another Level
Thank you so much for this wonderful app. It has taken my trading to another level and is a must have for anyone who wants to be a Success in Forex Trading. I do not take a Trade without consulting it and you should not either!
- Black Tower Investments Ltd.
- 16 MB
Requires iOS 11.0 or later. Compatible with iPhone, iPad, and iPod touch.
- Age Rating
- Rated 17+ for the following:
- Unrestricted Web Access
- © 2019 Black Tower Investments Ltd.
- In-App Purchases
- 1 month access $9.99
- 3 months access $29.99
- 6 months access $38.99
With Family Sharing set up, up to six family members can use this app.