USDX

Discussion in 'MetaTrader Indicators' started by Enivid, Jul 10, 2012.

  1. Enivid

    Enivid Administrator Staff Member

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    Discuss USDX indicator (dollar index or DXY) for MT4 and MT5 in this thread. You can ask any questions about this indicator here.
     
  2. ezrydn

    ezrydn Active Trader

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    How does one trade USDX? I've heard a lot of good ideas about it but can't find an MT4 that carries it.
     
  3. Enivid

    Enivid Administrator Staff Member

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    MT4 doesn't have USDX by default. You can download USDX indicator for MT4 using the link in my first post.
     
  4. ezrydn

    ezrydn Active Trader

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    I was under the impression that one could trade USDX just like trading any other pair. Now, it's just an indicator on other pairs? I've misunderstood something, somewhere.

    What that page fails to do is explain, in laymen's terms, what you're looking at and how to interpret it so let's start there.

    What and How?
     
    Last edited: Aug 29, 2012
  5. Easy Trader

    Easy Trader Master Trader

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    THE WHAT= The USDX or DX-Y.NYB common term 'the dixie' is the US dollar index future (DXY). It is a index of the US dollar vs the rest of the major pairs in the exchange lumped into a basket. As a forex currency pair it would look like this-----USD/(EUR,CHF,JPY,GBP,CAD,SEK). You can trade the DXY on the futures market.

    THE HOW= This is trickier, obviously if the DXY is bullish then the USD is showing strenght against all other major currency pairs. But if its bearish it could be a few different things or a combo of them. Either the USD is weakening solely itself or any number, combinations or all of the other currencies are strengthening against the US dollar. Also the CAD is closely correlated with crude price behavior and this tends to be a factor also occationally. So as a indicator for the chart many traders like to keep an eye on the DXY to create or affirm a trade bias they may have.
     
    Last edited: Aug 29, 2012
  6. ezrydn

    ezrydn Active Trader

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    Maybe I wasn't clear enough. What am I looking at on this indicator. How am I to interpret the info being displayed. Not a history lesson but a "how to" on the indicator?
     
  7. Easy Trader

    Easy Trader Master Trader

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    I just told you, if you can't figure it out then dont use it.....Maybe alittle research and alot of google will make it clear for you!
     
  8. ezrydn

    ezrydn Active Trader

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    OK, you can't explain it. That's all you had to say.
     
  9. Easy Trader

    Easy Trader Master Trader

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    Its a line chart of the futures chart! Go look up the futures chart on yahoo finance and compair it to the indi on your screen.....You want me to give you a strategy for it?
     
  10. Enivid

    Enivid Administrator Staff Member

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    What I have here is just an indicator that displays USDX chart. Obviously, you cannot trade indicator. If you want to trade USDX, you will have to find a broker that offers either a futures on this index or some CFD.

    I thought that was obvious from the indicator's description. If the USDX is rising, it means that dollar is rising against a virtual currency that is 57.6% euro, 13.6% yen, 11.9% GBP, 9.1% CAD, 4.2% Swedish krona and 3.6% Swiss franc. If it is falling, it means that dollar is falling against that virtual currency.
     
  11. ezrydn

    ezrydn Active Trader

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    What got me interested in USDX was a statement I heard where, I believed, he said he traded USDX against a currency basket then said something about getting the profit from all involved. It sounded sweet but I couldn't find anything after that. Then, your post appeared and I had to ask.
     
  12. ezrydn

    ezrydn Active Trader

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    Found this video online today, dealing with USDX. Why is a Forex "basket" only in Futures market? Why isn't it retained in the Forex market? I'd like to trade as it's portrayed in this video but nothing available to "hand walk" one into it. Plus, he's using a nifty little display that monitors each traded currency on the left of his screen. I guess I've gotta find that missed "lesson" on the web. LOL

    http://www.youtube.com/watch?feature=player_embedded&v=lb_oy3xfdws
     
  13. ezrydn

    ezrydn Active Trader

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    Can someone point me to a broker who actually has USDX in their platform? I've downloaded and installed 4 platforms that SAID they included it but, so far, they're all liars. Nothing even came close, including Alpari-UK.
     
  14. Enivid

    Enivid Administrator Staff Member

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    FX Solutions has USDX CFD in its platform. The problem is that they won't offer it to you if you are US citizen/resident as CFDs are illegal in the USA.

    I guess the same happens with other brokers you tried - they list USDX, but when you register they do not offer it to you because they mark you as a US trader or something like this.
     
  15. hayseed

    hayseed Master Trader

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    forex baskets

    //----

    hey ezrydn..... most of us create our own usdx, dollar index.... you only need is a platform with all the component pairs.....

    and many of us do trade forex 'baskets'.... both baskets based on a single currencys and baskets based on strength or lack of......

    we use custom built ea's based on custom built indicators for this......

    //-----

    don't think it is anywhere near as easy as that guy suggests....... keep in mind, he is a salesman....... with something to sell......

    //----

    and we are jaded traders........h
     
  16. ezrydn

    ezrydn Active Trader

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    I've lived in Guadalajara, Jalisco, MX now for the last 12 years. While a US ex-pat, they'd only have my name to go by. All ID provided was Mxn.
     
  17. Enivid

    Enivid Administrator Staff Member

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    And what about FXSol? Any success with them? Try their UK division.
     
  18. upliftingmania

    upliftingmania Active Trader

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    how to display the JPY index

    Hi Guys,

    Amazing indicator, i should have found this one earlier!!!

    Can anyone tell me how I can view the JPY index. I have tried entering various custom values - however no luck.

    What I notice is that if I enter more than 3-4 yen based currency pairs, the indicator does not display anything.

    What i am looking for is the indicator to show/compute the line ( high or low) based on the following Yen pairs -

    USD/JPY ,EUR/JPY, AUD/JPY, GBP/JPY, CHF/JPY and GBP/JPY

    Any help on this would be greatly appreciated :)
     
  19. ezrydn

    ezrydn Active Trader

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    Seems much easier to setup a full USDX basket and not be concerned with percentages. I'll setup a std basket this week of the USDX prs and let you know how it goes.
     
    Last edited: Aug 4, 2013
  20. 1066 Trader

    1066 Trader Trader

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    I have installed the USDx indicator in MT4 but when I attempt to apply it to acurrency pair, I get an alert telling me to add the reference currency pairs to market watch. But they are already there.

    Any suggestions
     

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