If the currency pairs are already there, try re-attaching the indicator. You also have to make sure that the currency pairs are named the same as given in the indicator's input parameter.
Bounce
Does anyone know how use the USDX indicator to create different indexes? I understand changing the pairs but do not understand the IndexCoefficients or IndexInitialValue. If someone can show me how to get this working I can help you with a powerful trading method. I used the system before the ForexLite discontinued the data.
Does anyone know how use the USDX indicator to create different indexes? I understand changing the pairs but do not understand the IndexCoefficients or IndexInitialValue. If someone can show me how to get this working I can help you with a powerful trading method. I used the system before the ForexLite discontinued the data.
It all depends on what index you want to create. You should find a reliable source of information on that index and get the right coefficients and also the initial value.
Trading method? Does the name "bounce" describe it?
I may look into the Channel Detector or whatever it is called, if I can find it again (I have other time commitments.)
Oh, the USDX in MT4 loaded right up for me... was easy enough to customize. I do not use MT5.
Possible uses of USDX
The first thing I tried was to alter the USDX to build a EURX, a couple of them. One was weighted to imports (Norway, Japan and a few others) One weighted to exports to Turkey, the USA, Canada and something else. The idea being that local currencies were exchanging real money to buy euro goods or Europe exchanging to buy from others.
Then I made a "speculative" index of more money trading and less real goods. It looked like the speculative money leads the real trade exchanges. In other words, someone buying European goods paid at the speculatively set rate without causing noticeable movements in the exchange rates by their purchases.
I intend to share here how I use the USDX. My time for posting is not what I would like as I work 60 to 70 hours a week, but I'll do my best.
The first thing I tried was to alter the USDX to build a EURX, a couple of them. One was weighted to imports (Norway, Japan and a few others) One weighted to exports to Turkey, the USA, Canada and something else. The idea being that local currencies were exchanging real money to buy euro goods or Europe exchanging to buy from others.
Then I made a "speculative" index of more money trading and less real goods. It looked like the speculative money leads the real trade exchanges. In other words, someone buying European goods paid at the speculatively set rate without causing noticeable movements in the exchange rates by their purchases.
Another thing I did with the USDX was put an ATR weighted index of everything on one chart.
This chart below seems to say that the fall in the EURUSD for the last 90 days has been more USD strength than EUR weakness. That can be good information if signals for correlated currencies turn up. One might be a better trade than the other if one is trending better (not the cross, but the currency against a basket of other currencies.) That is, I might want to buy the USD against something else.
This chart below seems to say that the fall in the EURUSD for the last 90 days has been more USD strength than EUR weakness. That can be good information if signals for correlated currencies turn up. One might be a better trade than the other if one is trending better (not the cross, but the currency against a basket of other currencies.) That is, I might want to buy the USD against something else.
You will have to use MT5 version to get the candlesticks display. I will try to make the MT4 version show candlesticks too, but for now they are only in MetaTrader 5.
I have just checked and it looks like MetaTrader 4 still does not support candlestick plot for indicators. So, for now traders will have to use USDX for MT5 if they want candles in place of the line.
Does it output any errors in the Experts tab? If not, then it should look like that. USDX is about 50% based on EUR/USD, so it will always resemble inverted EUR/USD.
Version 1.02 released to simplify the MT5 indicator and introduce minor improvements into the MT4 indicator.
xaux --> showing xau index and btcx --> showing btc index... same like usdx indicator --> showing usd index
