FX Meter - Currency Strength

Name: FX Meter - Currency Strength
Rating: 4.5 (383 reviews)
Author: Black Tower Investments Ltd.

Forex Power at your Fingertips

Free · In‑App Purchases · Designed for iPad

383 Ratings
Ages

4+
Years
Category

Finance
Developer

Black Tower Investments Ltd.
Language

EN
English
Size

13.6
MB

In the FX Meter currency strength app you will get an overview that is updated every business day on: - Two time frames for all major currencies: USD, CHF, EUR, JPY, GBP, AUD, CAD, NZD - Current strength/weakness of the 8 major currencies - Changes since yesterday - How the current and yesterday's strength weakness of each currency relates to the other currencies (e.g. weaker, stronger, equal) - An overview of the trend in strength/weakness of a currency, with historical data that dates back as far as January 2014 - A free course on how to use the FX Meter Auto-renewable subscription. Payment will be charged to iTunes Account at confirmation of purchase. • Account will be charged for renewal within 24-hours prior to the end of the current period, and identify the cost of the renewal • Subscriptions may be managed by the user and auto-renewal may be turned off by going to the user's Account Settings after purchase • Any unused portion of a free trial period, if offered, will be forfeited when the user purchases a subscription to that publication, where applicable Terms and Conditions: https://www.urbanforex.com/pages/terms Privacy Policy: https://www.urbanforex.com/pages/privacy-policy

Ratings & Reviews

4.5

out of 5

383 Ratings

Meh...
05/15/2019

xachisonfire
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.
Meh...
05/15/2019

xachisonfire

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 05/16/2019
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.
Amazingly Precise forecast indicator!
10/06/2020

Allegra-Aguirre
I am absolutely amazed at the precision of this forrcast. I actually make an excel table and at the end of the day check if the move was where the strength was and 65-70% of the time the FX meter ir right! Amazing! my routine is to get the pairs that have a 5 or 7 with a pair that has a 1 or 3 positive and negative and trade only in the direction of this indicator. It’s the best indicator. Congratulations to those minds Navin and his tean for developing this. I now feel much more secure on the direction I should take every day and my trading has improved drastically! Good Luck!
Amazingly Precise forecast indicator!
10/06/2020

Allegra-Aguirre

I am absolutely amazed at the precision of this forrcast. I actually make an excel table and at the end of the day check if the move was where the strength was and 65-70% of the time the FX meter ir right! Amazing! my routine is to get the pairs that have a 5 or 7 with a pair that has a 1 or 3 positive and negative and trade only in the direction of this indicator. It’s the best indicator. Congratulations to those minds Navin and his tean for developing this. I now feel much more secure on the direction I should take every day and my trading has improved drastically! Good Luck!
Great Way To Find Trends
10/19/2018

Kenalsworld
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.
Great Way To Find Trends
10/19/2018

Kenalsworld

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.
Complete Joke? Not really True.
02/10/2021

umujakporue
This app is a joke.. GBP has been the strongest currency for a few days and they said the JPY is the weakest but somehow the supposedly weakest currency keeps pull “the strongest currency”. I don’t know what the credentials are for making and selecting the currencies but whoever is behind that decision should do better. I paid for this app to reduce my fundamental tracking but it seems I’m better at this than the supposedly professionals. DO BETTERI’m here to correct the above review.. I didn’t want to delete the previous review so I’ll just add to it.It turns out I was the one who doesn’t really know how to properly select pairs to trade with the information in the app.. Doing an eye test with the information provided so far, it’s been pretty accurate. I guess I’m just bad at pair selection. Hopefully Navin and him team will finish up with the pair selection app. Cheers.

Developer Response
GBP is the strongest on the Daily time frame (still is, at time of writing this). This is a long term view and thus volatility during a single day is not that relevant and influential on the Daily strength numbers.The way to use the FX Meter is to look for setups that line up with the numbers, as they have a higher probability of playing out and moving further. It is in no way advisable to blindly trade based on the numbers. We always strictly follow price action as taught in the Mastering Price Action 2.0.I hope that clears it up.
Complete Joke? Not really True.
02/10/2021

umujakporue

This app is a joke.. GBP has been the strongest currency for a few days and they said the JPY is the weakest but somehow the supposedly weakest currency keeps pull “the strongest currency”. I don’t know what the credentials are for making and selecting the currencies but whoever is behind that decision should do better. I paid for this app to reduce my fundamental tracking but it seems I’m better at this than the supposedly professionals. DO BETTERI’m here to correct the above review.. I didn’t want to delete the previous review so I’ll just add to it.It turns out I was the one who doesn’t really know how to properly select pairs to trade with the information in the app.. Doing an eye test with the information provided so far, it’s been pretty accurate. I guess I’m just bad at pair selection. Hopefully Navin and him team will finish up with the pair selection app. Cheers.
Developer Response 02/04/2021
GBP is the strongest on the Daily time frame (still is, at time of writing this). This is a long term view and thus volatility during a single day is not that relevant and influential on the Daily strength numbers.The way to use the FX Meter is to look for setups that line up with the numbers, as they have a higher probability of playing out and moving further. It is in no way advisable to blindly trade based on the numbers. We always strictly follow price action as taught in the Mastering Price Action 2.0.I hope that clears it up.