The U.S. Dollar Index indicator for Metatrader 5 measures the value of the American Dollar against a basket of major currencies.
The U.S. Dollar strength is measured against the following major currencies:
- The Euro currency
- The Japanese Yen currency
- The British Pound currency
- The Canadian Dollar currency
- The Swiss Franc currency
Understanding the indicator:
- The U.S. Dollar Index line rises when the U.S. Dollar gains strength against the basket of other currencies.
- The U.S. Dollar Index line declines when the U.S. Dollar loses strength against the basket of other currencies.
The following indicator inputs and parameters can be modified: bars to calculate, symbol prefix, and symbol suffix.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
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Dollar index.mq5 Indicator (MT5)
Chart Example
The following chart shows how the U.S. Dollar Index indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The U.S. Dollar Index indicator?
Find a simple trading example below:
The indicator does not issue any buy or sell trading signals.
Please combine it with other technical tools or use an existing trading strategy.
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Dollar index.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Dollar index.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration
