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Start your 7-day free trial today and find out how we can help you. Currency Strength Meter Use our free currency strength meter to determine the strongest and the weakest currency pairs on the market in real-time. Learn more. Hide control panel. A visual representation of the strongest and weakest currencies. The strongest currencies that perform against other currencies are marked green , while the weakest are marked red.
What is a Currency Strength Meter? Create your own Currency Strength Meter. Use Forex Signals tools for more in-depth analysis. Show more.. How reliable is your Forex broker? Demo and live trading accounts Zero commission and 0. Access more tools and trade like a pro inside our Trading Room We've built the world's most advanced trading room with premium tools like no other.
Watch demo. Start 7 day free trial. Register now with Google Register now with Facebook. For example, the Logikfx Macro Currency Strength Meter is calculated by crawling thousands of economic reports for over 23 different economies and then running them through a clever algorithm to determine currency strength based on future economic growth or contraction.
It makes fundamental analysis accessible, and fast for its users. For example, to calculate the strength of GBP, the Logikfx currency strength meter would consider the most influential leading, co-incident and lagging economic indicators e. It would then score them individually on their merit for an overall positive or negative impact on the economy sliding scale and combine all scores to give an overall strength or weakness reading for the Great British pound.
This is done for over 23 currencies automatically to save traders a significant amount of time, and heavily reduce margin for error - the more accurate currency strength meter online. In this day and age, there are many problems with how currency strength meters are calculated. Many of the formulas are very sub-standard and only consider technical price features. If a currency strength meter doesn't have fundamental variables in its formula, the accuracy of its forecasting capability becomes negligible.
Generally, forex traders should look for these red flags in currency strength indicators:. Uses only price in its formula e. Emphasises the importance of correlation. Has no 'proof of worth'. Now, if you notice that a currency strength meter is using only backward-looking technical features, this is a major red flag. Instead, the best way to measure currency strength is with macro fundamentals.
If an economy is growing, and there is more money in circulation through printing then overall the value of that currency will fall in the future - simple economic rules that pay off huge if you understand them. The Logikfx currency strength meter does all of that for you. Logikfx's macro currency strength meter, is the best of all, as it comes with a vast variety of advantages for traders, including it's basis of leading fundamentals, exceptional time-saving, and the ability to use it quickly and effectively.
This makes it the best currency strength meter on the market. Professional traders are well known for using macro trading to decide on positions in their portfolio that's in both forex and stock trading. They use formulated macro currency strength meters like these as a quick guide to which currencies, and stocks, are going to appreciate or depreciate in value.
They are excellent for determining long-term drivers of future price. An absolute huge advantage of using a macro currency strength meter is that it saves traders an unquantifiable amount of time, compared to, if they were to do the research by themselves.
In fact, it's virtually impossible to do this fast enough, alone, for all tradable economies over Not only does it save time, but it also gives traders confidence that the strength readings are accurate eliminates human error , and efficiently allows them to incorporate fundamentals into their trading decisions. Many traders are surprised at how easy it is to understand, provided how valuable and effective the currency strength meter is. This is especially appealing for newbie traders who are just starting out, providing that extra confidence behind each trading decision.
You don't need to be a profressional trader to understand how strong or weak a currency is based on a simple score. Ever wondered how professional traders catch big trends before they happen? The macro currency strength meter enables you to do just that. It tells you, fundamentally, if there is enough strength in an economy to drive an asset's price to trend in one direction or another - there is simply no other tool, meter, or currency strength indicator out there that can do this for both currencies and stocks.
The Logikfx macro currency strength meter above shows a sample of 10 out of 23 currency scores for the following economies:. Euro EUR. Japanese Yen JPY. Australian Dollar AUD. Swizz Franc CHF. Canadian Dollar CAD. Turkish Lira TRY. Mexican Peso MXN. The currencies overall strength is divided into 4 areas:. Strong Green : Large Positive score.
Slightly Strong Lighter Green : Positive score. Slightly Weak Light Red : Negative score. Weak Red : Large Negative score. These are then subdivded further into the change of the score from the previous reading:. Strengthening positive change. Neutral no change. Weakening negative change. The EUR is showing a negative score , and is weakening. Your aim, as a trader, is to combine a strong currency with a weak currency and then trade the currency pair in such a way where you can buy the stronger currency whilst simultaneously selling the weaker currency.
The reason for this is to maximise the potential volatility you can capture i. It's as easy as that. A relatively simple concept to grasp, with enormous impact on making high quality trading decisions! As the world is changing, political themes advance, and economic reports are released, the Logikfx currency strength meter scores are constantly calculating the most accurate valuation of a currency.
Every Saturday this is updated for LITA traders in the portal, so they can use it real time to get the fastest reading before everyone else in the market. It's their edge! Please note, the below forecasts used the macro currency strength as part of a wider more complete forex strategy, and is not as a buy or sell signal tool. Historical examples like this are not representative of how the currency strength meter may supplement your current forex strategy.
Your results may vary drastically. The aim of every trader is to minimise the portfolio downside risk, whilst still maintaining a high probability for catching a large upside. Here are our top tips to get the most out of fundamental scores:. Always place your stop loss based on volatility: If you don't consider the average expected movement of price over the time-frame you are trading, it's highly likely your stop-loss will take you out of a trade before it has had a chance to mature!
Always calculate the volatilty, and place your stop off of this. Check if the market is with, or against you : Once you have a good trade idea using the Logikfx currency strength meter, you need to decide if the market is ready for the price to move in that direction. Limit your gross exposure: The number 1 mistake of traders is over leveraging! Control your exposure to the market, keep the borrowing to a minimum, and always preserve your capital.
Margin trading has massive potential, but only once it's understood fully. Finally, as with any tool, meter or indicator, it has its limitations. You can learn the complete professional trading system in the Logikfx Academy which includes the Logikfx currency strength meter tech, COTA tech and a masterclass video series to teach how to use it all effectively.
FX Currency Strength Radar compares the strength of all the major currencies and lists them in accordance to their strength/weakness. You no longer need to scan. 3 FX Currency Strength Radar For a forex trader, it is important to understand the inherent difference between currencies and other financial instruments. Currency strength meter to identify the strongest currencies in the Forex market. The currency strength meter performs calculations on 28 currency pairs.