Correlation is very important when you trade Forex pairs because each currency FX pairs are strongly correlated with each other and we can use it to find out a currency strength based on percentage gain of a currency related FX pairs and then we can compare each currency percentage gain with other currencies.
The currency strength data can have different use cases like trading strongest against weakest or use it as an extra filter for your trading system.
- Uses 28 FX pairs to calculate each currency strength
- Supports eight most traded currencies: USD, EUR, GBP, JPY, AUD, NZD, CAD, and NZD
- Multi time-frame
- Chart Legend