Quantum US Dollar Index Indicator
I would not want to state the obvious, but the US dollar - is the most important currency for traders, and not only on the Forex market. Without a clear idea of the USD trading process will resemble a car driving in fog. When the accident occurs - it is only a matter of time.
That is why we have developed two indexes USD. The first is called Quantum DXY, and the second - Quantum USDX. What is the difference between them?
The impetus for the creation of Quantum USDX was the fact that, in the opinion of many Forex traders, old DXY index, which underlies it, too "heavily weighted" in relation to European currencies. Indeed, only a fraction of the Euro is 58%! Moreover, the commodity currencies are completely absent!
Quantum USDX was established to provide a more "balanced" picture of the USD, which would be more indicative of the modern world, so to speak. It presents four equally weighted currencies as well as in the display Quantum JPY. A list of these currencies is as follows:
- The Japanese yen
- Australian dollar
Quantum USDX indicator shows the strength and weakness of the USD against the currency basket. It can be used on any chart of any timeframe. With the help of the indicator you will get an instant picture of the USD. Alternatively, you can create a separate workspace for multiple timeframes.
Indicator involves the use of three ways:
- First, as a reverse indicator for the major currency pairs, which helps you determine the entry and exit points
- Second, as a confirmatory indicator to work in conjunction with Quantum Currency Strength indicator for perspective estimation in relation to other currencies
- And finally, as the main barometer of risk
No matter which approach you choose for yourself, you do not have to be distracted from the MT4 terminal to analyze the situation on USD! Is not that great!
Click here to learn how to configure the Quantum USDX indicator.
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