Currency Index Indicator

The Currency Index indicator enables traders to display any index of eight major currencies. It uses a special calculation that considers specific currency pairs and their weights.

The default weights are based on the BIS Triennial Central Bank Survey results. Because of this advantage, the trader can see each currency’s true strength and weakness.

Note: If the indicator is used in Strategy Tester (demo version), please keep in mind that all currency pairs’ data must be downloaded in History Center before the simulation starts (How-to). If the indicator is added to the chart in the usual way, no downloads are needed.

Currency Indexes

  • USDX - US Dollar Currency Index.
  • EURX - Euro Currency Index.
  • GBPX - British Pound Currency Index.
  • CHFX - Swiss Franc Currency Index.
  • CADX - Canadian Dollar Currency Index.
  • JPYX - Japanese Yen Currency Index.
  • AUDX - Australian Dollar Currency Index.
  • NZDX - New Zealand Dollar Currency Index .

Main Features

  • The indicator shows the index of eight major currencies (USD, EUR, GBP, CHF, JPY, CAD, AUD, NZD).
  • A simple comparison of strength and weakness of one currency.
  • Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN).
  • The indicator is non-repainting.
  • Ready for backtesting.
  • High-speed calculation.
  • Available for MT4 and MT5.
  • Customizable parameters (Colors, Line thickness, Weights).
  • The indicator works with prefixes and suffixes of symbols as well (EURUSD.m, EURUSD-pro...).

Input Parameters

  • Currency_Index - Allows choosing the main currency for calculation. You can choose from USDX, EURX, GBPX, CHFX, CADX, JPYX, AUDX, NZDX.
  • Chart_Type - Allows choosing between the types of chart output. You can choose candlestick or line chart.
  • Line_Thickness - Thickness of the Currency Index line.
  • Label_Size - Size of the main currency label.
  • Text_Size - Size of the other currency labels.
  • Bars_Ago - Number of bars displayed by the indicator. All bars in the chart will be displayed if the Bars_Ago parameter is set to 0.
  • Weight_USD - The USD weight coefficient.
  • Weight_EUR - The EUR weight coefficient.
  • Weight_GBP - The GBP weight coefficient.
  • Weight_CHF - The CHF weight coefficient.
  • Weight_CAD - The CAD weight coefficient.
  • Weight_JPY - The JPY weight coefficient.
  • Weight_AUD - The AUD weight coefficient.
  • Weight_NZD - The NZD weight coefficient.
  • Color_USD - Color of the USD line and label.
  • Color_EUR - Color of the EUR line and label.
  • Color_GBP - Color of the GBP line and label.
  • Color_CHF - Color of the CHF line and label.
  • Color_CAD - Color of the CAD line and label.
  • Color_JPY - Color of the JPY line and label.
  • Color_AUD - Color of the AUD line and label.
  • Color_NZD - Color of the NZD line and label.
  • UpBar_Color - Color of the up bar in the indicator.
  • DownBar_Color - Color of the down bar in the indicator.

Output Parameters

  • PipTick CI Open - The indicator output bar open value.
  • PipTick CI Close - The indicator output bar close value.
  • PipTick CI Candle Up - The indicator drawings output. Irrelevant for traders.
  • PipTick CI Candle Down - The indicator drawings output. Irrelevant for traders.
  • PipTick CI Candle Eraser - The indicator drawings output. Irrelevant for traders.
  • PipTick CI Wick Up - The indicator drawings output. Irrelevant for traders.
  • PipTick CI Wick Down - The indicator drawings output. Irrelevant for traders.
  • PipTick CI Wick Eraser - The indicator drawings output. Irrelevant for traders.

Screenshots

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