Forex Currency Index Project CAD MT4 Indicator:
About the Forex Currency Index Project CAD MT4 Indicator
The Currency Index Project is ONE part of a thorough Forex study. Many people do not know the theoretical basis that drives currency exchange rates to move on the market. With this set of tools you will be able to have a more complete view of the entire market by analyzing not only the single currency of an exchange, but all the exchange rates that make up that currency by looking at a single window!
The indicator faithfully represents the real index of a single currency present in an exchange rate. This is calculated from the dollar index with particular weighting factors.
For correct use, the broker used must have the following coins: “EURUSD” “USDJPY” “GBPUSD” “AUDUSD” “USDSEK” “USDCHF”.
If even one of them is missing it will be impossible to perform the calculation and the indicator will not work.
This is a true market edge that allows you to evaluate which currency of a foreign exchange is moving the chart.
I recommend using it with Momentum or TSI.
Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)