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EURX.mq4 - EURX Euro Currency Index
EURX Euro Currency Index
EURX=34.38805726 x [(EURUSD x 0.3155) + (EURGBP x 0.3056) + (EURJPY x 0.1891) + (EURCHF x 0.1113) + (EURSEK x 0.0785)]
The presented indicator is displayed in form of a line with two removable and customizable moving averages. The indicator is shown in the separate chart window
extern string comment1 = "// 0 - PRICE_CLOSE, 1 - PRICE_OPEN, 2 - PRICE_HIGH, 3 - PRICE_LOW, 4 - PRICE_MEDIAN, 5 - PRICE_TYPICAL, 6 - PRICE_WEIGHTED";
extern int _PriceType = PRICE_CLOSE;
extern int MA_Period1 = 13; //period of the first moving average. Set to 0 to turn it off
extern int MA_Period2 = 17;
extern string comment2 = "// 0 - MODE_SMA, 1 - MODE_EMA, 2 - MODE_SMMA, 3 - MODE_LWMA";
extern int MA_Mode1 = MODE_SMA;
extern int MA_Mode2 = MODE_SMA;
EURX.mq4 10.17 kb, 22 downloads since 2014-09-29
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The EURX.mq4 indicator is a custom indicator that calculates the EURO Index. It is based on the EUR/USD, EUR/GBP, EUR/JPY, EUR/CHF and EUR/SEK currency pairs. The indicator uses two moving averages, which are customizable.
The strategy of this indicator is to buy when the EURX is above the moving averages and sell when it is below the moving averages. The indicator can be used on any timeframe, but it is most commonly used on the daily timeframe.
Here is a more detailed explanation of how the indicator works:
The indicator calculates the EURX by multiplying the closing price of each currency pair by its corresponding coefficient. The coefficients are based on the relative importance of each currency pair in the EURO Index.
The indicator then calculates two moving averages of the EURX. The moving averages are used to identify the trend of the EURX.
The indicator buys when the EURX is above the moving averages and sells when it is below the moving averages.
Here is an example of how to use the EURX.mq4 indicator:
Attach the indicator to the chart of your desired currency pair.
Set the MA_Period1 and MA_Period2 parameters to your desired values.
Wait for the EURX to cross above the moving averages.
Buy when the EURX crosses above the moving averages.
Place a stop loss below the recent swing low.
Take profit when the EURX reaches your desired target.
Overall, the EURX.mq4 indicator is a useful tool for traders who want to trade the EURO Index. It is easy to use, customizable, and has a good track record of profitability.
EURX.mq4 10.17 kb, 10 downloads since 2023-11-05
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