How to trade US Dollar Strength Index

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#1

US Dollar strength index is best indicator for trading EURUSD. On MT4 insert
relative strength index of EURUSD. Also insert US Dollar strength indicator
If you drop USD Strength directly over RSI then It will become amazing indicator
If you drop on chart or at place other than RSI then it will show but it is better to first insert RSI and then from Navigator drag and drop USD strength indicator
directly over the RSI.

When these indicator go in opposite direction then there will be good indicator
if they frequent cross each other then it means that market is ranging and be
avoided. Also we can can check for bullish or bearish divergence of USD strength indicator. If RSI shows Bearish divergence and USD strength shows
bullish indicator then it is more likely that EURUSD will fall and vice verca

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#3

Thanks, but, could you attach an chart example please?:slight_smile:

2 Likes
#4

Ilya: which broker provides this indicator US dollar strength?

#6

I can’t seem to find the US Dollar Strength Indicator, please help!!

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#7

I have been looking for the USDX chart to attach with my mt4 but never found one and USDX indicator is kinda new concept to me.

#8

For MT4, you can search it:
MQL4 Code Base: custom indicators for MT4
Try Cluster indicator too.

#10

Do u know how to do it for tradestation?

#11

Commodity Futures & FOREX Charts | Commitments of Traders Database you’re welcome haha.

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#12

Thank you for the insight. But please can you show a chart? Thanks

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#13

Interesting…thank you for sharing.

I wonder if the negative correlation between the US Dollar Strength and the EUR/USD is due mostly because of the USD in the EUR/USD.

If it was the USD/EUR instead, I imagine there would be a positive correlation, similar to the correlation between EUR/USD, GBP/USD, or any pair ending in USD.

If this is the case, how do you use the US Dollar Strength to your advantage when trading the EUR/USD?

I apolagize if my question is off base because I missed something or if im just completly off or mistaken.

Thank you again for sharing

3 Likes
#14

where do i find the USD strength indicator on MT4

#15

Try chartstation from netdania if u looking usd index

Note : usd index netdania is not realtime , 10 min delay

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#16

I trade the $DXY daily with all the usd/xxx and xxx/usd pairs including XAGUSD and XAUUSD. The correlation and non correlation is not 100% it all of the time it is most of the time.

I use tradingview as my DXY charting tool and barchart for opinion and mataf for a indicey/pair comparison tool of two or more when in doubt all work great.

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#17

good day where can i find the usd strength index

#18


Dennis publish his daily after the NY close.

Daily forex publish it once weekly on sunday in the forex academy newsletter.

Barchart.com had a good opinion page for almost everything including the $DXY.

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#19

Hi @94Dumisani, this thread will help you to trade the majors against the USD.

Please, read the whole thread as there is some good input across various members toward the bottom.

Cheers

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#20

Would love to see it on a chart.

#21

I use tradeingview.com https://www.tradingview.com/chart/aRzXaJDL/

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I will also use investing.com as a crutch but do not rely to much on it. Technical Analysis Custom Quotes - Investing.com

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#22

US Dollar quality marker In the event that you drop USD Strength straightforwardly over RSI, It will end up astonishing pointer In the event that you drop on diagram or at place other than RSI, it will appear yet it is smarter to initially embed RSI and afterward from Navigator simplified USD quality marker specifically over the RSI.

#23

I like using the CCI over the RSI. As oscillators they will yield similar results how the CCI is not bounded as is the RSI. This tends to work well trading the return to the mean from the 2% deviation signal.

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