DXY: Dollar Index - a graphical indicator
Most trading strategies are focused on dollar rateTherefore, from time to time traders have the need to analyze the dollar index in its pure form to see the general direction of the American currency. Some companies provide such a tool (DXY) for trading and analysis, for those who do not have a dollar index in MetaTrader 4, and there is a graphical DXY: Dollar Index indicator.
For the convenience of analysis, in addition to the dollar index DXY: Dollar Index indicator draws two moving averages as well.
The basis for calculating the index in DXY: Dollar Index indicator are currency pairs EURUSD, USDJPY, GBPUSD, USDCAD, USDSEK, USDCHF, so it is necessary that your broker provides quotes for these pairs for the correct operation of the indicator.
DXY: Dollar Index works on any timeframe, colors are adjustable.
Commentary from ForTrader.org: The DXY: Dollar Index indicator has a well-defined practical application and can be used in trading strategies that focus on trading with major currency pairs.