DollarIndex is an indicator that computes the volume-adjusted flow of USD considering all 7 major currency pairs. When reading the indicator, remember that values above the 0.0 line are net flows positive for USD. If you are viewing a pair in which USD is the 2nd currency, for example EUR/USD, positive net flows of USD (an “above-the-line” indicator reading) will *generally* show negative (short, bearish) price-action, and similarly vice-versa, negative net flows of USD will show positive (long, bullish) price-action. When USD is the first currency, e.g. USD/JPY, flows will *generally* align with price action. This indicator is useful, at the very least, as a thought experiment if you believe that, in general, USD moves in concert (and hence the high degree of correlation among the currency pairs). The reason is that you may be able to detect a net flow of USD (either positive or negative) before, or in spite of, the price action.
MT4 Indicator Download – Instructions
DollarIndex is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
DollarIndex provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install DollarIndex.mq4?
- Download DollarIndex.mq4
- Copy DollarIndex.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on DollarIndex.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator DollarIndex.mq4 is available on your Chart
How to remove DollarIndex.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
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