This indicator calculates the index of a given currency, using the USD index. It is based on indicator SymbolX, but four prices are used for calculations: OHLC instead of just one Close price.
- EUR index is calculated as (EUR / USD) * USDX;
- CHF index is calculated as USDX / (USD / CHF).
The indicator has to configurable inputs:
- Instrument - name of the instrument, the index of which shall be calculated;
- Invert the graph - invert the indicator graph.
It should be noted that six currency pairs are used for calculating the index, namely: EURUSD, USDJPY, GBPUSD, USDCAD, USDSEK, and USDCHF; and all the necessary history for those symbols must be additionally loaded to get a correct display. This will require some time. It means that, at the first running or switching the chart timeframe, the indicator will first load history and only then calculate and display the index for your desired currency.
The indicator works on the charts of any currency pairs.
Fig 1. SymbolX_Candle index EUR
Fig. 2. SymbolX_Candle index AUD
Fig. 3. SymbolX_Candle index JPY
Fig. 4. SymbolX_Candle index RUB