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DXY Correlation

Indicator can be used for dxy correlation trading.

it calculates the dollar index (USDX or DXY) using the EUR/USD, USD/JPY, GBP/USD, USD/CAD, USD/CHF and USD/SEK currency pairs.

In order to trade them, you need to find a confirmed technical analysis pattern on the DXY chart and look for a correlated currency pair that has the same picture on its price chart.

The formula used for calculation is the following:

USDX = 50.14348112 × EURUSD-0.576 × USDJPY0.136 × GBPUSD-0.119 × USDCAD0.091 × USDSEK0.042 × USDCHF0.036

The resulting indicator resembles DXY . The index was introduced in 1973 at an initial value of 100. The rules for its calculation were updated only once — in 1999 to reflect the introduction of euro.


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Volume Profile For MT5
Abdelkhabir Yassine Alaoui
Volume Profile is a very useful indicator . it allows you to spot the price levels where important price action took place. It is similar to support and resistance levels but with a different logic. ( Check Out  Fixed Range Volume Profile MT5  ) One of the first thing that traders mark up when analyzing a chart is support and resistance. Volume Profile can be used for doing that too. The indicator scans the defined number of previous bars and calculates the volume of activity at each price
Support And Resistance indicator that can display round levels and zones . It shows them directly on the chart, providing an easy help when you want to set stop-loss or take-profit level, or when you want to see the next market target.   If an asset price is moving down and bounces back up, the level is called support (think: price floor). If an asset price is moving upward and hits a level where it reverses downward, this is called resistance (think: price ceiling).
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entropia93
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entropia93 2023.09.29 11:28 
 

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