Indicators: EURX Euro Currency Index

[MetaQuotes]

EURX Euro Currency Index:

EURX=34.38805726 x [(EURUSD x 0.3155) + (EURGBP x 0.3056) + (EURJPY x 0.1891) + (EURCHF x 0.1113) + (EURSEK x 0.0785)]

Author: levonisyas

[Trevor Schuil]

Hello, please can you explain this a little for me. I would really appreciate it and can be useful in my studies.

[Artem Goritsky]

trevone:
I would really appreciate it and can be useful in my studies.

https://en.wikipedia.org/wiki/U.S._Dollar_Index

https://ru.wikipedia.org/wiki/%D0%98%D0%BD%D0%B4%D0%B5%D0%BA%D1%81_%D0%B5%D0%B2%D1%80%D0%BE and study Russian :)

[Andrew Thompson]

I'm sorry but the calculation is incorrect - the weighted rates should be multiplied not added - I am the author of the original DXY and am about to post the EURX in the same format.

 

OK - the calculation in the code is correct - the calculation shown in the header is not! Hence why the code shows *= not += in the iteration building the value:

 

case PRICE_OPEN:
               EURX[i]*=MathPow(iOpen(Pairs[j],0,i),Coefficients[j]);
               break;

 and not

case PRICE_OPEN:
               EURX[i]+=MathPow(iOpen(Pairs[j],0,i),Coefficients[j]);
               break;

[klakhiani]

I modified the EURX indicator to produce indicators for Japanese Yen, British Pound, US Dollar, New Zealand Dollar, Canadian Dollar, Swiss Franc, and Australian Dollar.

The weight co-efficient is based on the Markit IBOXX Fx Indices rules.

Rules

These are Trade Weighted Indices. The US TWI is different from the ICE US Dollar Index.  Similarly the other indicators are different from the currency index product you know.

Two places where I could have got it wrong: when it says EUR in the rules I assume it is EURGBP in case of GBP TWI index or as the case may be.

Second some of the TWIs have additional weights which are not listed in the rules. The document only list the major weights.

I remove the MA lines from the indicators. This change makes it easier to compare one index with another. Also I assign different colors to each line so that we can

overlay multiple indicators and compare the colored lines.

Total 8 files uploaded.