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The indicator shows points for the continuation of the trend for currency pairs with the participation of the USD dollar with a probability of more than 80%. The algorithm is based on comparing the momentum of the current currency pair with the momentum of the DX dollar index at the current time. Using the dollar index allows us to evaluate not only the current pair, but the entire picture for all major currencies at once. This approach increases the reliability and reduces the number of false positives, allowing you to build new strategies with a high probability of testing.
Points of continuation of the trend indicator are displayed on the chart by arrows and, if necessary, are alerted. High reliability of the indicator will allow you to correctly assess the current trend and make accurate entries into the market for the continuation of the trend.
If the line MDX - the momentum of the dollar index is zero, this indicates the absence of quotes in this section of history!
To test the indicator on the history, upload the following quotes EURUSD, USDJPY, GBPUSD, USDCAD, USDCHF to the terminal, and USDSEK if necessary.
The names of all pairs must be without prefixes or suffixes.
To download historical quotes to the MT4 terminal, press the F2 key, highlight the required pair and download all the above quotes one by one.
If, during MDX testing, the indicator line changes its value, then quotes for calculating the dollar index have been successfully loaded.
- It can be used as a ready-made trading system.
- It has no lag, and weight summation gives a noticeable advantage over the classic Momentum indicator
- Simple and intuitive graphical interface, minimum settings.
- There are settings of each moving for your trading style and currency pair.
- Turn on alerts.
- Your broker must support the following major pairs EURUSD, USDJPY, GBPUSD, USDCAD, USDCHF without prefixes and suffixes in the name of the pair.
- Optimized code and minimal load on the computer processor.
- The ability to add the features you need to trade, provided that you write about it to the author :)
- - - - - - - - - - - - Momentum line (M) - - - - - - - - - - settings for the momentum line
- Momentum period - momentum period for the current pair
- Smoothing period - smoothing the momentum line
- Calculation by weight coefficient - ON, classic - OFF - enable calculation taking into account the weight of each candle
- - - - - - - - - - - - Momentum DX line (MDX) - - - - - - - - - - - settings for the momentum line of the dollar index
- Momentum DX period - the momentum period of the dollar index for the current pair
- Smoothing period - smoothing the momentum line of the dollar index
- Calculation by weight coefficient DX - ON, classic - OFF - enable calculation taking into account the weight of each candle
- - - - - - - - - - - Display - - - - - - - - - - -
- Display on history bars - the number of bars to display the indicator
- Display cross line entry points and alerts - enable display and alerts when crossing momentum lines
- - - - - - - - - - - Alerts - - - - - - - - - - -
- Alert - alert of entry point
- Push notification - notification on the phone entry point
- Email - entry point email
To verify the quality of the indicator, test its demo version in the strategy tester.