A method of measuring strain in material by(1) selecting a metallic glass ribbon of the compositionFe.sub.w B.sub.x Si.sub.y C.sub.z wherein0.70.ltoreq.w.ltoreq.0.83,0.10.ltoreq.x.ltoreq.0.20,0.03.ltoreq.y.ltoreq.0.10,0.ltoreq.z.ltoreq.0.03, andw+x+y+z=1.00 wherein the metallic glass ribbon is essentially strain free and has easyxes of magnetization which are in the plane of the ribbon transverse (at 90.degree.) to the long axis of the ribbon;(2) bonding the metallic glass ribbon to material to be measured by means of a homogeneous viscous organic liquid having a viscosity greater than 10.sup.5 cp at 25.degree. C.;(3) allowing the viscous liquid to relax until the metallic glass ribbon is not stressed by the viscous liquid and is in a state of constant strain within it magnetostrictive dynamic range; and(4) measuring the susceptibility of the metallic glass ribbon which is directly proportional to strain within the material being measured.