diff --git a/electrum/gui/qml/components/Constants.qml b/electrum/gui/qml/components/Constants.qml
index b9bdac1ff..ff88c6009 100644
--- a/electrum/gui/qml/components/Constants.qml
+++ b/electrum/gui/qml/components/Constants.qml
@@ -43,6 +43,7 @@ Item {
     property color colorDone: '#ff80ff80'
     property color colorValidBackground: '#ff008000'
     property color colorInvalidBackground: '#ff800000'
+    property color colorAcceptable: '#ff8080ff'
 
     property color colorLightningLocal: "#6060ff"
     property color colorLightningLocalReserve: "#0000a0"
diff --git a/electrum/gui/qml/components/PasswordDialog.qml b/electrum/gui/qml/components/PasswordDialog.qml
index 07a788830..442f44a19 100644
--- a/electrum/gui/qml/components/PasswordDialog.qml
+++ b/electrum/gui/qml/components/PasswordDialog.qml
@@ -62,7 +62,26 @@ ElDialog {
                 visible: confirmPassword
                 showReveal: false
                 echoMode: pw_1.echoMode
-                enabled: pw_1.text.length >= 6
+            }
+
+            RowLayout {
+                Layout.fillWidth: true
+                Layout.rightMargin: constants.paddingXLarge
+                Layout.topMargin: constants.paddingLarge
+                Layout.bottomMargin: constants.paddingLarge
+
+                visible: confirmPassword
+
+                Label {
+                    text: qsTr('Strength')
+                    color: Material.accentColor
+                    font.pixelSize: constants.fontSizeSmall
+                }
+
+                PasswordStrengthIndicator {
+                    Layout.fillWidth: true
+                    password: pw_1.text
+                }
             }
         }
 
@@ -77,4 +96,5 @@ ElDialog {
             }
         }
     }
+
 }
diff --git a/electrum/gui/qml/components/controls/PasswordStrengthIndicator.qml b/electrum/gui/qml/components/controls/PasswordStrengthIndicator.qml
new file mode 100644
index 000000000..0a0080b03
--- /dev/null
+++ b/electrum/gui/qml/components/controls/PasswordStrengthIndicator.qml
@@ -0,0 +1,44 @@
+import QtQuick 2.6
+import QtQuick.Controls 2.1
+import QtQuick.Controls.Material 2.0
+
+Rectangle {
+    property string password
+    property int strength: 0
+    property color strengthColor
+    property string strengthText
+
+    onPasswordChanged: checkPasswordStrength(password)
+
+    function checkPasswordStrength() {
+        var _strength = Daemon.passwordStrength(password)
+        var map = {
+            0: [constants.colorError, qsTr('Weak')],
+            1: [constants.colorAcceptable, qsTr('Medium')],
+            2: [constants.colorDone, qsTr('Strong')],
+            3: [constants.colorDone, qsTr('Very Strong')]
+        }
+        strength = password.length ? _strength + 1 : 0
+        strengthText = password.length ? map[_strength][1] : ''
+        strengthColor = map[_strength][0]
+    }
+
+    height: strengthLabel.height
+    color: 'transparent'
+    border.color: Material.foreground
+
+    Rectangle {
+        id: strengthBar
+        x: 1
+        y: 1
+        width: (parent.width - 2) * strength / 4
+        height: parent.height - 2
+        color: strengthColor
+        Label {
+            id: strengthLabel
+            anchors.centerIn: parent
+            text: strengthText
+            color: strength <= 2 ? Material.foreground : '#004000'
+        }
+    }
+}
diff --git a/electrum/gui/qml/components/wizard/WCWalletPassword.qml b/electrum/gui/qml/components/wizard/WCWalletPassword.qml
index af9241684..d2629ae75 100644
--- a/electrum/gui/qml/components/wizard/WCWalletPassword.qml
+++ b/electrum/gui/qml/components/wizard/WCWalletPassword.qml
@@ -1,6 +1,7 @@
 import QtQuick
 import QtQuick.Layouts
 import QtQuick.Controls
+import QtQuick.Controls.Material
 
 import "../controls"
 
@@ -13,7 +14,7 @@ WizardComponent {
     }
 
     ColumnLayout {
-        width: parent.width
+        anchors.fill: parent
 
         Label {
             Layout.fillWidth: true
@@ -22,17 +23,50 @@ WizardComponent {
                 : qsTr('Enter password for %1').arg(wizard_data['wallet_name'])
             wrapMode: Text.Wrap
         }
+
         PasswordField {
             id: password1
         }
+
         Label {
             text: qsTr('Enter password (again)')
         }
+
         PasswordField {
             id: password2
             showReveal: false
             echoMode: password1.echoMode
-            enabled: password1.text.length >= 6
+        }
+
+        RowLayout {
+            Layout.fillWidth: true
+            Layout.leftMargin: constants.paddingXLarge
+            Layout.rightMargin: constants.paddingXLarge
+            Layout.topMargin: constants.paddingXLarge
+
+            visible: password1.text != ''
+
+            Label {
+                Layout.rightMargin: constants.paddingLarge
+                text: qsTr('Strength')
+            }
+
+            PasswordStrengthIndicator {
+                Layout.fillWidth: true
+                password: password1.text
+            }
+        }
+
+        Item {
+            Layout.preferredWidth: 1
+            Layout.fillHeight: true
+        }
+
+        InfoTextArea {
+            Layout.alignment: Qt.AlignCenter
+            text: qsTr('Passwords don\'t match')
+            visible: password1.text != password2.text
+            iconStyle: InfoTextArea.IconStyle.Warn
         }
     }
 }
diff --git a/electrum/gui/qml/qedaemon.py b/electrum/gui/qml/qedaemon.py
index 6b44933cc..6f5a1bbb1 100644
--- a/electrum/gui/qml/qedaemon.py
+++ b/electrum/gui/qml/qedaemon.py
@@ -27,6 +27,9 @@ if TYPE_CHECKING:
 
 # wallet list model. supports both wallet basenames (wallet file basenames)
 # and whole Wallet instances (loaded wallets)
+from .util import check_password_strength
+
+
 class QEWalletListModel(QAbstractListModel):
     _logger = get_logger(__name__)
 
@@ -366,3 +369,9 @@ class QEDaemon(AuthMixin, QObject):
         except Exception as e:
             verified = False
         return verified
+
+    @pyqtSlot(str, result=int)
+    def passwordStrength(self, password):
+        if len(password) == 0:
+            return 0
+        return check_password_strength(password)[0]
diff --git a/electrum/gui/qml/util.py b/electrum/gui/qml/util.py
index bebc62320..9a2825e01 100644
--- a/electrum/gui/qml/util.py
+++ b/electrum/gui/qml/util.py
@@ -1,18 +1,20 @@
+import math
+import re
 import sys
 import queue
 
 from functools import wraps
 from time import time
-from typing import Callable, Optional, NamedTuple
+from typing import Callable, Optional, NamedTuple, Tuple
 
 from PyQt6.QtCore import pyqtSignal, QThread
 
+from electrum.i18n import _
 from electrum.logging import Logger
 from electrum.util import EventListener, event_listener
 
 
 class QtEventListener(EventListener):
-
     qt_callback_signal = pyqtSignal(tuple)
 
     def register_callbacks(self):
@@ -58,6 +60,21 @@ def status_update_timer_interval(exp):
     return interval
 
 
+# TODO: copied from qt password_dialog.py, move to common code
+def check_password_strength(password: str) -> Tuple[int, str]:
+    """Check the strength of the password entered by the user and return back the same
+    :param password: password entered by user in New Password
+    :return: password strength Weak or Medium or Strong"""
+    password = password
+    n = math.log(len(set(password)))
+    num = re.search("[0-9]", password) is not None and re.match("^[0-9]*$", password) is None
+    caps = password != password.upper() and password != password.lower()
+    extra = re.match("^[a-zA-Z0-9]*$", password) is None
+    score = len(password)*(n + caps + num + extra)/20
+    password_strength = {0: _('Weak'), 1: _('Medium'), 2: _('Strong'), 3: _('Very Strong')}
+    return min(3, int(score)), password_strength[min(3, int(score))]
+
+
 # TODO: copied from desktop client, this could be moved to a set of common code.
 class TaskThread(QThread, Logger):
     """Thread that runs background tasks.  Callbacks are guaranteed