The Currency Power Meter Infinity indicator for MT4 is an innovative trading utility that provides buy and sell signals based on currency strength.
The indicator appears in a separate chart window as multiple currency strength dashboards.
For the ease of use, it displays buy and sell signal arrows in the price chart.
This tool allows you to easily navigate across different time frames using your mouse button.
Understanding its basic trading capabilities:
- A blue colored arrow is a buy signal.
- An orange colored arrow is a sell signal.
This technical tool works for scalping, day trading and swing trading alike.
- Tracks currency strength.
- Provides buy and sell suggestions, based on currency strength.
- Should work equally well for any trade style of your preference.
- A valuable addition to your collection of trading indicators.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
Indicator Example Chart
The chart presented below illustrates the Currency Power Meter Infinity indicator in action on the EUR/AUD 5-minute time frame.
Basic Trading Signals
The signals from the Currency Power Meter Infinity indicator are easy to understand. Here’s how they work:
- A buy signal occurs when the blue colored signal arrow appears on the chart.
- Open a buy trade and place a stop loss below the most recent swing low point.
- Close the buy transaction for a risk to reward ratio of at least 1.5, or await a sell arrow.
- A sell signal occurs when the orange colored signal arrow appears on the chart.
- Open a sell trade and place a stop loss above the most recent swing high point.
- Close the sell transaction for a risk to reward ratio of at least 1.5, or await a buy arrow.
Download This Forex Indicator
Adjustable Parameters & Settings
Bars range to calculate power, range of bars to draw lines, amplitude, use alerts, use push notification, alert type.
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair and other trading instruments
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: currency strength
How to install the trading Volume indicator in Metatrader 4?
- Copy and paste the Currency Power Meter Infinity mt4.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
- Restart the trading platform
- Add the indicator to the chart
How to remove the indicator from the chart?
- Right-click on the chart with your right mouse button
- Select the indicator’s list from the dropdown menu
- Click on the indicator’s name
- Click on the delete button
- Press OK