Dollar Index
- Indicators
- Sergio D. Rocha
- Version: 1.10
- Updated: 23 November 2021
This indicator calculates directly the value of the dollar index by using the ICE formula to plot the chart, this can help you as reference. You do not need your broker to provide the ICE DX to use this indicator, is a way to have it calculated.
Little discrepancies could be found in the exact value of the candles or time due closing time of the trading floor and the use of decimals, but generally will give you good reference.
You need your broker offers the feed for the following pairs in order to calculate the DX: EURUSD, USDJPY, GBPUSD, USDCAD, USDSEK y USDCHF.
A simple-as-F*** little indi', largely underrated yet extremely useful to gauge the overall market sentiment no matter the instrument(s) one may trade (works especially well with Gold and most of the US indexes, not to mention every forex pairs directly linked to the US Dollar). This one can be the base of a profitable strategy just by means of putting it in a parallel with the main chart showing no indicator except pivot points for instance. Bravo & keep up the great work! MF