Currency Strength Charts.
If you are a forex speculator, having a currency strength chart at your disposal just makes sense for trading the foreign exchange. It is a tool that shows exactly how an individual currency is doing as measured against its peers. The only substitute for a good currency strength indicator is pouring through dozens of pair charts trying to figure out which currency is doing what.

Always set your chart time to at least 4 hours and better still, 8 hours.You can’t see trends with small time periods. This is not a pair chart. The time refers to the travel across the chart from left to right. Its all happening in realtime.
When I line up the strength chart with the pair chart of eur/usd , it doesn’t match. Why?

Price chart versus Strength chart
The strength number represents that currency’s value among all the pairs contributing to the calculation. When we see the USD strength line moving up on the strength chart it means the US dollar is active within all the pairs it is measured from. So it may or may not line up as a representation of any one particular pair.

The strength chart shows the differences in value placed on a currency by the market participants. It follows the idea behind arbitrage. Many times a rise in price on one particular pair is not reflected immediately but the strength chart caught it. The others catch up.

The numbers on your strength chart do not match up with my other currency strength meter. Why?
The unique strength formula goes beyond simple RSI types of strength freebie meters.  I began studying forex data intensively in 2004. As part of my research into foreign exchange strength measurement, I knew that an increase in the performance of the USA dollar within any pair was more important than a similar movement with the New Zealand or Canadian dollar. The special algorythm accounts for this difference using a weight for each of the currencies.

When the banks begin purchasing huge amounts of the reserve currency. (USD), placing the same “weight” measurement as it does for the Swiss Franc, will not correctly reflect what is happening to individuals. 

Everything is important when real money is on the line.

The FX4Caster will draw on up to 27 forex pairs to make its calculation.
What trading system do I use with it?

The FX4Caster is a trading tool that explodes the win/loss ratio of any trading system you add it to. All of them can use the readings from a single currency indicator.
What is the strength chart setting to use with five-minute price charts?

Comparing apples and oranges.

Individual Currency strength is displayed differently than price charts.  It’s a line that displays the finest detail and nuances of a single currency in the foreign exchange market. The chart can be set to show the last 8 hours of movements.
On a pair chart, the data is averaged into time segments.

The Currency strength chart does not average movement over time. It shows the tiny fluctuations in real time. These little ups and downs in currency strength can be a vital clue into what is going to happen. 

Set your chart up to show at least 8 hours and preferably 10. You do this in settings tab. Low times distort whats really going on with an individual currency. You need to know a currencies prior history to see the patterns that may be forming. Looking at it on a low time period doesn’t let you see direction or past very well. 

The currency strength chart displays from left to right.

Show me how a currency strength chart will propel my fx trading!

This is a great starting tool. Tradetime Software also has the Professional version of AccuStrength Currency strength chart.