USD Strength Indicator CUSIV01 - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources

The Coensio USD Strength Indicator (CUSIV01) measures instantaneous U.S. dollar strength using composite data from four U.S. dollar pairs: EUR/USD, GBP/USD, AUD/USD and USD/JPY. The "instantaneous strength" of each USD pair is determined by measuring the distance (in points) of each candle's close relative to the exponential moving average. For example: ΔEURUSD = (Close[n]-EMA50[n]) / PipValue. The comprehensive strength of the US dollar currency can be simply expressed as:

USD Power = (-ΔEURUSD-ΔGBPUSD-ΔAUDUSD+ΔUSDJPY)/4

NOTE: Load the indicator onto any chart, on any timeframe. Set "EMASize" to the desired value (the EMA value serves as a reference point strength against the USD). Note that on a USDJPY chart this indicator will show the strength of the USD currency, so the histogram will show in the opposite direction!

Input parameters:

Attachment download

📎 CUSIV01.mq4 (3.68 KB)

Source: MQL5 #11054