Dollar Index
FREE
Published:
16 May 2014
Current version:
1.10
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good indicator !
is it possible to have it for euro too please ? thx
good indicator !
is it possible to have it for euro too please ? thx
Not bad Idea do you know the formula or where can get it?
Not bad Idea do you know the formula or where can get it?
I don't understand how can I use this indicator. Can you explain me?
Thanx.
I mean dont you understand how to use a Dollar Index in your analysis or how to apply the indicator?
Ok so lets start with the installation:
The easiest way to install the indicator is by opening in the Terminal (with Control T) the Market Tab (select with the mouse), there find the indicator in the Applications Tab, this should be under indicators, new.
Click on the indicator and then press the button download, once the platform tells you that is installed, go to some chart and press the insert/Indicators/Custom Indicator, from there select the indicator.
From the dialog box, press OK and you should see the indicator.
If you only see an empty window this should be because your broker do not provide the USDSEK needed to calculate the dollar index, the next version of this indicator named Dollar And Euro Index have a solution for this issue.
About the use of the Dollar Index in your analysis:
Usually the Index are used as a bench mark, for example when you see a down movement in the USDJPY this could be due the strength of the JPY or the weakness of the USD, so figure which of both are "making" more for the move are often of great help, if you can determine the reason why the strength or weakness is produced, you can asses better when this could start to fade and therefore when you need to start to look for signals to cut your trade or plan the entry of the next possible trade.
Ok so lets start with the installation:
The easiest way to install the indicator is by opening in the Terminal (with Control T) the Market Tab (select with the mouse), there find the indicator in the Applications Tab, this should be under indicators, new.
Click on the indicator and then press the button download, once the platform tells you that is installed, go to some chart and press the insert/Indicators/Custom Indicator, from there select the indicator.
From the dialog box, press OK and you should see the indicator.
If you only see an empty window this should be because your broker do not provide the USDSEK needed to calculate the dollar index, the next version of this indicator named Dollar And Euro Index have a solution for this issue.
About the use of the Dollar Index in your analysis:
Usually the Index are used as a bench mark, for example when you see a down movement in the USDJPY this could be due the strength of the JPY or the weakness of the USD, so figure which of both are "making" more for the move are often of great help, if you can determine the reason why the strength or weakness is produced, you can asses better when this could start to fade and therefore when you need to start to look for signals to cut your trade or plan the entry of the next possible trade.