Advanced Currency Strength28 Indicator Review
The Advanced Currency Strength28 indicator is a popular forex trading tool that measures the relative strength of major, minor and exotic currency pairs. Developed by Bernhard Schweigert, a forex trader and programmer, the indicator aims to help traders identify new trends and trading opportunities across 28 currency pairs using a proprietary algorithm and unique features.
Overview of the ACS28 Indicator
The ACS28 indicator displays a separate window below the main price chart showing the real-time strength values of 8 major currencies – EUR, USD, JPY, GBP, CHF, CAD, AUD and NZD. It then calculates the strength of 28 currency pairs derived from these 8 currencies.
The indicator works on all timeframes and uses a color-coded system to visualize the strength values. Strong currencies are shown in green shades while weak ones are in red. The strength lines are smooth and responsive to changing market conditions.
Some key features of the ACS28 indicator include:
- Market Momentum – Trend, consolidation or reversal in currency strength. Helps traders identify market sentiment.
- Dynamic Fibonacci Levels – Adaptive zones indicating potential support and resistance for currency strength.
- GAP Arrows – Shows strong upside/downside momentum in currency strength.
- Cross Pattern Alert – Notifies when strength lines of two currencies cross.
- Overbought/Oversold Alerts – Warns when a currency reaches its outer Fibonacci zone.
The indicator is highly customizable with settings for colors, alerts, Fibonacci levels, display styles and more. It comes with a detailed user manual and trading strategy focused on exploiting currency strength for trading decisions.
Using the ACS28 Indicator
According to developer Bernhard Schweigert, the key aspects of using the ACS28 indicator are:
- Analyze the strength of individual currencies rather than just a single currency pair. This provides more market context.
- Identify currency pairs where both the base and quote currencies are showing strong momentum in the desired direction. This is known as a “double GAP” setup.
- Trade in the direction of the overall market momentum. If most currencies are bearish, look for sell trades and vice versa.
- Use the dynamic Fibonacci levels to identify potential reversals in currency strength.
- Combine the ACS28 with the Advanced Currency Impulse indicator to add insights into acceleration and speed of currency movements.
- Look for trade entry opportunities on lower timeframes after identifying the overall trend on higher timeframes.
- Use the various alerts and visual tools of the indicator to assist in identifying and confirming high probability trades.
The developer provides many chart examples and detailed explanations in the user manual on how to effectively use the ACS28 indicator. Proper usage requires an understanding of the entire trading approach.
Performance and Reviews
The ACS28 indicator has garnered mostly positive reviews from users. It currently has a 5-star rating based on 245 reviews on the MQL5 market.
Users mention the indicator has improved their ability to identify trading opportunities across currency pairs. They also appreciate the frequent updates and responsive customer support provided by the developer.
However, some users do point out the indicator has a steep learning curve. It takes time and effort to master the signals and trading methodology required to use it effectively. Not everyone may have the patience or skillset to maximize its potential.
The developer does not provide any verified performance statistics for the trading strategy. There are examples of trades taken using the indicator, but no long-term account statements audited by a third-party service. So potential buyers should be wary of taking any advertised results at face value.
Pricing and Availability
The ACS28 indicator is sold exclusively on the MQL5 market owned by MetaQuotes Software. It is not available for purchase outright but only for rentals of 1-year, 6-months and 3-months.
Current pricing is:
- 1-Year License – $89
- 6-Months License – $68
- 3-Months License – $49
The indicator can be used with the MetaTrader4 platform on Windows PCs as well as Mac using Wine emulation software or Parallels. There is no version for MetaTrader5 as yet.
One license allows use on unlimited demo accounts and 1 live account. Additional live accounts require purchasing more licenses.
The ACS28 indicator comes with a 14-day return policy. So traders unsatisfied with the product can request a refund within 14 days of purchase.
Advanced currency strength28 indicator – Verdict
Overall, the Advanced Currency Strength28 indicator seems to be a unique tool for traders interested in analyzing and trading currency strength. It provides a convenient way to assess 28 currency pairs from a single window.
The abundance of alerts and visual tools also helps traders validate high probability setups across multiple timeframes. When used properly, the indicator can certainly enhance analysis and strategy.
However, the complexity of the indicator and lack of clear performance reporting raises some questions. Casual traders may find it difficult to use without sufficient education. And it involves a specialized approach not suited to everyone’s style or skill level.
The pricing is relatively affordable compared to other commercial indicators. But having to renew rental licenses annually is not ideal. The availability only on the MQL5 market is also restrictive.
So in summary, while the ACS28 indicator offers some innovative features, traders need to carefully assess if it fits their requirements and analytical approach before committing to a purchase. The free trial lets you test it out in detail before deciding.