In response to traders demands for an efficient and profitable trading indicator, Trading Strategy Guides (TSG) has developed a “forex power indicator" that is free for the trading public to use. —
The Forex Power Indicator attempts to identify relative currency strength by using multiple different time frames to track currency exchanges. By using six different time frames (monthly, weekly, daily, 4-hour, 1-hour, and 15-minute), it becomes possible to identify which changes are most likely to last.
When creating this innovative indicator, the team at TSG decided to focus on 8 different currencies and the 5 leading currency pairs. Traders can use a graph that tracks all trends and clearly reveals the pairs that are the most likely to be profitable.
The forex power indicator incorporates the relative strength of each currency pair, which makes it possible for traders to determine the level of risk that they are assuming with each exchange. The system itself has been recognized by users as intuitive and useful. According to data from the TSG website, the indicator has been rated to be 4.39 stars out of 5.
TSG recognizes that there are many things should be considered when exchanging currencies, which is why they recommend using other indicators as well. Two of the indicators that pair well with the Forex Power Indicator are the Average True Range Indicator and the ADX Indicator.
Overall, the Forex Power Indicator has been widely recognized as a useful tool for forex traders hoping to make quick decisions. As TSG has become well-known for doing, the indicator carefully balances ease of use, time-sensitivity, and overall depth of information.
Release ID: 483556