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Frequently Asked Questions

What is the dxy Dollar Index indicator for MT4?

The DXY Dollar Index Indicator For MT4 is an indicator that was built for those traders who use the Meta Trader charting environment to study their trading charts, do their technical analysis and even take their trades every trading day. The DXY Dollar Index Indicator For MT4 is based on the two Simple Moving Average indicators.

How does MetaTrader calculate the USDX indicator?

USDX (MetaTrader indicator) — calculates the dollar index (USDX or DXY) using the EUR/USD, USD/JPY, GBP/USD, USD/CAD, USD/CHF and USD/SEK currency pairs. The formula used for calculation is the following: The resulting indicator resembles USDX — a dollar index traded on ICE. The index was introduced in 1973 at an initial value of 100.

What is the best indicator for MT4?

US Dollar Index can be applied to trade any USD currency pairs like EURUSD, GBPUSD, AUDUSD, etc. Furthermore, this indicator is a good fit for all sorts of timeframe charts available within the MT4 trading platform.

Is US dollar index (USD) a good indicator to use?

Its signal demonstration process looks simple and suitable for newbie traders. US Dollar Index can be applied to trade any USD currency pairs like EURUSD, GBPUSD, AUDUSD, etc. Furthermore, this indicator is a good fit for all sorts of timeframe charts available within the MT4 trading platform.


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