Power of NZD (New-Zealand Dollar) Indicator For MT4

The Power of NZD indicator for Metatrader 4 measures the relative strength of the New-Zealand Dollar currency in real-time.

When the relative strength of the NZD currency is strong, trade it against a weak currency.

For instance, when the New-Zealand Dollar is strong and the U.S. Dollar is weak, buy the currency pair (NZD/USD).

Vice versa, when the relative strength of the NZD currency is weak, trade it against a strong currency.

For instance, when the New-Zealand Dollar is weak and the U.S. Dollar is strong, sell the currency pair (NZD/USD).

  • The New-Zealand Dollar is considered strong when its relative strength is trading above the 0.00 level.
  • The New-Zealand Dollar is considered weak when its relative strength is trading below the 0.00 level.

Key Points

  • Power of NZD above the 0.00 level is considered strong. Trade against a weak currency.
  • Power of NZD below the 0.00 level is considered weak. Trade against a strong currency.
  • Confirm the buy or sell trade entry with other analysis tools.
  • Works for any Forex pair with the New-Zealand Dollar currency included.

Free Download 

Download the “Power_of_NZD.ex4” Metatrader 4 indicator

Indicator Example Chart

The NZD/USD Daily chart below displays the Power of NZD Metatrader 4 forex indicator in action.

Basic Trading Signals

Signals from the Power of NZD Forex MT4 indicator are easy to interpret and goes as follows:

Buy Signal: Open a buy trade as soon as the Power of NZD relative strength crosses the 0.00 level upwards and the counter currency is weak.

Place a stop loss 5 pips below support or apply your own favorite stop loss strategy for buy signals.

Close the buy trade for a reward/risk ratio of 2.5 or better, or apply your own favorite take profit strategy.

Sell Signal: Open a sell trade as soon as the Power of NZD relative strength crosses the 0.00 level downwards and the counter currency is strong.

Place a stop loss 5 pips above resistance or apply your own favorite stop loss strategy for sell signals.

Close the sell trade for a reward/risk ratio of 2.5 or better, or apply your own favorite take profit strategy.

Download This Forex Indicator

Download the “Power_of_NZD.ex4” MT4 indicator

Adjustable Parameters & Settings

Colors, width, style.

Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.

More Info About This Indicator

Recommended Currency pairs: Any

Trading Platform: MT4

Time Frames: M1, M5, M15, M30, H1, H4, D1, W1

Indicator Type: Currency strength

Installation

Copy and paste the indicator in the MT4 indicators data folder.

Then restart the MT4 terminal and attach it to any chart.

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