U.S. Dollar Index Tracker - View the U.S. Dollar Index just below the chart. -MetaTrader 4 Script- MT4/MT5 Resources

USD Index Tracker calculates and displays U.S. Dollar Index (USDX / DXY) Just below the chart for your current trading pair. This makes it easy to compare the strength of the US dollar against a basket of major currencies while analyzing your currency pairs.

USDX is based on six major currency pairs: EUR/USD, USD/JPY, GBP/USD, USD/CAD, USD/CHF and USD/SEK . Each currency pair has a weight in the formula, with EUR/USD having the largest share. The index is at 1973 With a base value of 100, it has since become one of the most closely watched indicators of U.S. dollar strength.

The USD Index Tracker runs the USDX calculation formula in the background:

USD Index = 50.14348112 × EURUSD^-0.576 × USDJPY^0.136 × GBPUSD^-0.119 × USDCAD^0.091 × USDSEK^0.042 × USDCHF^0.036

Then it displays the result in There are separate sub-windows below the chart . You can customize the display with two moving averages to smooth the index and highlight trends.

index pair - default: "EUR/USD, USDJPY, GBP/USD, USDCAD, USDSEK, USDCHF" → Currency pair used for USDX calculations.

Exponential coefficient - default: "-0.576, 0.136, -0.119, 0.091, 0.036, 0.042" → Weight of each pair in calculation.

Index initial value - default: 50.14348112 → Base value of the USDX formula.

MA_Period1 (default = 13) – The period of the first moving average. (Setting 0 means disabled.)

MA_Period2 (default = 17) – The period of the second moving average. (Setting 0 means disabled.)

MA_Mode1/MA_Mode2 – Calculation methods (SMA, EMA, SMMA, LWMA).

1. Discrepancy detection

USDX is up, but so is EUR/USD → indicating that the Euro is much stronger than the rest of the USDX basket.

The US dollar index fell, but USD/JPY did not → showing weakness in the Japanese yen compared to other currencies.

2. Trend confirmation

If USDX is trending up, and your USD pair is also trending up, you will get additional confirmation to hold the trade longer.

3. Multiple time frame background

Use USDX on the higher time frame (H4/D1) while trading your currency pair on the lower time frame (M15/H1) to align with the overall strength of the US dollar.

Unlike standard MA or RSI tools, U.S. Dollar Index Tracker for you Get direct insight into the world's most important currency . It acts as a relevant filter for USD transactions, helping you:

Avoid false signals in the profession.

Confirmation of the true strength of the US dollar.

Identify disagreement settings in front of a crowd.

by combining Extensive U.S. Dollar Index Data With the help of your pairs chart, you can gain an edge in decision-making and risk control.

⚠️ IMPORTANT NOTE :
Make sure all six pairs used in the USDX formula ( EUR/USD, USDJPY, GBP/USD, USDCAD, USDSEK, USDCHF ) are in your market observation window, otherwise the indicator may not be calculated correctly.

If the display doesn't look right, try refreshing the chart (for example, switching to another time frame and back).

Attachment download

📎 Dollar_Index_Tracker.mq4 (12.31 KB)

Source: MQL5 #64246