For MT4, you can search it:
MQL4 Code Base: custom indicators for MT4
Try Cluster indicator too.
Do u know how to do it for tradestation?
Thank you for the insight. But please can you show a chart? Thanks
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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
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where do i find the USD strength indicator on MT4
Try chartstation from netdania if u looking usd index
Note : usd index netdania is not realtime , 10 min delay
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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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good day where can i find the usd strength index
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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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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Would love to see it on a chart.
I use tradeingview.com https://www.tradingview.com/chart/aRzXaJDL/
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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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.
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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I don’t need much of an indicator to know that the market is poised waiting for direction.
The DXY has passed a 7.5 weighted alpha and just hit the 97.00 resistance zone.
If you trade the USD crosses you might want to think about getting some Stop orders on, then kick back and wait. Last time we had this even setup it took about 14 days for the price action to drop out of a very narrow channel.
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To sum it all up, forex traders use the USDX as a key indicator for the direction of the USD. Always keep in mind the position of the USD in the pair you are trading. For example, if the USDX is strengthening and rising, and you are trading EUR/USD, a strong USD will show a downtrend on the EUR/USD chart.
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Please, where can I get this indicator?
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Wow, perfect insightful question, this reflects my mind like a mirror, because I was also thinking the same thing. But then I realized one thing that you shouldn’t forget which is that the USDX is a combination of five other currencies apart from the EUR.
So even though EUR singularly tends to affect the index more than the others, the importance of the other currencies in determining the relative strength of the USD, cannot be undermined.
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