USDX Slope

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USDX Slope

Postby Apprentice » Thu Oct 20, 2016 3:37 am

USDX_Slope.png

LUA Original: viewtopic.php?f=17&t=2304

Description:

This indicator (Colored Histogram) uses other 2 indicators:

- Slope Direction Line (Attached independently): A Moving Average indicator that allows to assess the direction of the market by smoothing the trend using a vectorial formula. Any off the default Moving Averages can be used as source as well as the type of price and number of periods.

- USDX (Also attached independently): The well known US Dollar Index, which is a geometrically-averaged calculation developed in 1973 by the US Federal Reserve of six currencies weighted against the U.S. dollar.

This USDX Slope Histogram will be colored according to the following scenarios:

UpUp: Slope Line going Up and current USDX greater than previous USDX (Lime)
DnUp: Slope Line going up and current USDX lower than previous USDX (Yellow)
UpDn: Slope Line going down and current USDX greater than previous USDX (Red)
DnDn: Slope Line going down and current USDX lower than previous USDX (Magenta)

For ease of use, both calculations of the above described indicators were incorporated into the histogram.

Slope_Direction_Line.mq4
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USDX.mq4
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USDX_Slope.mq4
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Apprentice
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