USDLFX Offline Chart Creator EA | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

correlation indi w/audlfx, nzdlfx, eurlfx, jpylfx, usdlfx 0 replies

ind 4 offline Renko chart update 1 reply

Offline Chart data question 5 replies

How calculate usdlfx 2 replies

How to calculate usdlfx? 0 replies

Attachments: USDLFX Offline Chart Creator EA
Exit Attachments

USDLFX Offline Chart Creator EA

  • #181
  • Mar 8, 2026 7:11am Mar 8, 2026 7:11am
If anyone is still interested in Forex Index Trading, here are arithmetic formulas that you can create as a custom pair in MT5!

USD_Basket: (EURUSD + GBPUSD + AUDUSD + NZDUSD + USDJPY + USDCAD + USDCHF) / 7
EUR_Basket: (EURUSD + EURGBP + EURAUD + EURNZD + EURJPY + EURCAD + EURCHF) / 7
GBP_Basket: (GBPUSD + EURGBP + GBPAUD + GBPNZD + GBPJPY + GBPCAD + GBPCHF) / 7
AUD_Basket: (AUDUSD + EURAUD + GBPAUD + AUDNZD + AUDJPY + AUDCAD + AUDCHF) / 7
NZD_Basket: (NZDUSD + EURNZD + GBPNZD + AUDNZD + NZDJPY + NZDCAD + NZDCHF) / 7
JPY_Basket: (USDJPY + EURJPY + GBPJPY + AUDJPY + NZDJPY + CADJPY + CHFJPY) / 7
CAD_Basket: (USDCAD + EURCAD + GBPCAD + AUDCAD + NZDCAD + CADJPY + CADCHF) / 7
CHF_Basket: (USDCHF + EURCHF + GBPCHF + AUDCHF + NZDCHF + CHFJPY + CADCHF) / 7
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
  • #182
  • Mar 8, 2026 7:18am Mar 8, 2026 7:18am
Quoting str8v4lu3
If anyone is still interested in Forex Index Trading, here are arithmetic formulas that you can create as a custom pair in MT5! USD_Basket: (EURUSD + GBPUSD + AUDUSD + NZDUSD + USDJPY + USDCAD + USDCHF) / 7 EUR_Basket: (EURUSD + EURGBP + EURAUD + EURNZD + EURJPY + EURCAD + EURCHF) / 7 GBP_Basket: (GBPUSD + EURGBP + GBPAUD + GBPNZD + GBPJPY + GBPCAD + GBPCHF) / 7 AUD_Basket: (AUDUSD + EURAUD + GBPAUD + AUDNZD + AUDJPY + AUDCAD + AUDCHF) / 7 NZD_Basket: (NZDUSD + EURNZD + GBPNZD + AUDNZD + NZDJPY + NZDCAD + NZDCHF) / 7 JPY_Basket: (USDJPY + EURJPY...

These formulas do not indicate currency strength for all currencys! All currencies will move in the same direction, but you can see turning points for an entire currency. The individual pairs then need to be traded in the correct direction! Hope you understand...
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
  • #183
  • Mar 8, 2026 4:24pm Mar 8, 2026 4:24pm
Quoting str8v4lu3
{quote} These formulas do not indicate currency strength for all currencys! All currencies will move in the same direction, but you can see turning points for an entire currency. The individual pairs then need to be traded in the correct direction! Hope you understand...
Those formulas are not correct. Correct formulas are here but I don't know whether MT5's custom symbols support such equations.
It takes blood, sweat and enough tears to wash away the blood.
  • #184
  • Mar 8, 2026 5:50pm Mar 8, 2026 5:50pm
Quoting emmzett
{quote} Those formulas are not correct. Correct formulas are here but I don't know whether MT5's custom symbols support such equations.
Hi emmzett. I want to try test this formula for mt5, how?
  • #185
  • Mar 9, 2026 2:06am Mar 9, 2026 2:06am
Quoting emmzett
{quote} Those formulas are not correct. Correct formulas are here but I don't know whether MT5's custom symbols support such equations.
These aren't the original weighted formulas, that's correct. They simply calculate an average that can be used to get a rough overview of a currency to identify turning points of the complete currency Basket. It's not the best solution, but it's still usable.
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
  • #186
  • Edited 2:49am Mar 9, 2026 2:31am | Edited 2:49am
If anyone is interested, they can use this IndexEA to open or close long and short positions on an entire currency basket. The Expert Advisor (EA) includes a built-in currency strength calculation with a display and some other usefull features.

Create all eight currency index charts and drag the EA onto each one.
In the EA input window, you only need to enter the name of the currency the EA is currently running on and a different magic number for each.

If anyone is interested in using this tool, please try it out on the demo account first to understand all its functions.

The code may still need revisions, improvements and extensions.
Attached File(s)
File Type: mq5 IndexEA.mq5   82 KB | 157 downloads
File Type: ex5 IndexEA.ex5   84 KB | 133 downloads
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
  • #187
  • Mar 9, 2026 3:59am Mar 9, 2026 3:59am
Each of the eight currencies should definitely have all available bars loaded on all timeframes. When I recently reloaded the EA after a long time, I noticed that the display wasn't showing anything and the buttons weren't working. Once all the bars were available, everything worked correctly.

Also, please ensure that the Magic Number for each currency is entered correctly:

USD 1000
EUR 2000
GBP 3000
AUD 4000
NZD 5000
JPY 6000
CAD 7000
CHF 8000

Furthermore, the currency strength indicator needs a few minutes to update and display anything after the initial load.
Attached Image (click to enlarge)
Click to Enlarge Name: Unbenannt.jpg Size: 81 KB
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
  • #188
  • Mar 9, 2026 4:16am Mar 9, 2026 4:16am
To clear up any confusion about which direction to trade in, simply remember that if a currency rises, press the Long button, and if a currency falls, press the Short button.

The Expert Advisor (EA) is configured to automatically trade all pairs in the correct direction.

For example, if the USD index rises and you go long, the EA will automatically take the following positions:

EURUSD short
GBPUSD short
AUDUSD short
NZDUSD short
USDJPY long
USDCAD long
USDCHF long

If the JPY index falls and you go short, these positions will be executed:

USDJPY long
EURJPY long
GBPJPY long
AUDJPY long
NZDJPY long
CADJPY long
CHFJPY long

I hope I've explained it clearly.
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
  • #189
  • Mar 9, 2026 4:32am Mar 9, 2026 4:32am
Here are some explanations of the button functions:

1. On/Off button for the EA
2. L/S/C buttons = Long, Short, Close for an entire currency basket
3. FL/FS buttons = Focus Long/Short; only the 2-3 strongest pairs in the basket are positioned
4. Risk management buttons = Trailing Stop, Break Even, Partial Close, and Risk Management Daily P/L Amount to Stop Trading
5. REV button = Reverse Positions
6. Panic Close button = All open positions in the account are closed.

Almost all parameters can be individually configured in the settings. The speed of opening and closing positions could be improved a bit in the code.

But that's pretty much for now.


Best regards,

str8v4lu3
You mean GAMBLE???.... Thats all the market is, ONE GIANT CASINO!!!
  • #190
  • Mar 26, 2026 2:40am Mar 26, 2026 2:40am
Quoting Eos-Luminus
{quote} Hi emmzett. I want to try test this formula for mt5, how?
I have tested and found the ICE indexes do not fully express the market I trade, the 28 pairs. Dxy for example has the Swedish krona and the over weighted EUR taking more then half of the weighted movement. ICE created these in 1979 and have fixed weights to the old times when that basket was relevant, which means the Dxy thinks its still in 1979 or they did apply 1 update at 1999. And how did they calculate what makes up the EUR weight, where do they get that euro specific data? is it EURUSD or an already formed EUR index that feeds it and the same goes with the other contributors.

So my theory was if all 7 baskets were in all 8 indexes and each cross reflected the actual volume traded through it eg. the big movers and small movers adding specifically there contribution like how the Dxy was aimed at in those times where the EUR was dominant, also with a weight calculation system thats also coherent through each calculating the same way, same baskets same weight system with the only difference being the actual strength of the currency. The relationship between them should be true to all 28 crosses. I would be interested to hear any thoughts

Dxy rubbish m1 chart looks like a nintendo game
Attached Image (click to enlarge)
Click to Enlarge Name: DX.fM1.png Size: 87 KB
  • #191
  • Mar 26, 2026 12:25pm Mar 26, 2026 12:25pm
Quoting Eos-Luminus
{quote} Hi emmzett. I want to try test this formula for mt5, how?
Sorry, but I don't use MT5, so I can't help you with that. In general the USD index from ICE is a trade weighted index. Its components and the calculation are explained here. I use MT4 for custom symbols and my self-calculated USDX looks like in the picture. Your screenshot shows a rather tiny spot. Also you have a gap from Midnight to 03:00 in your screenshot, which makes your result even more fuzzy. You need a broker where all currencies are traded 24/5 to get a more realistic chart.
Attached Image (click to enlarge)
Click to Enlarge Name: USDX,M5.png Size: 59 KB
Attached File(s)
File Type: pdf USDX_Futures_Contract.pdf   182 KB | 86 downloads
It takes blood, sweat and enough tears to wash away the blood.
  • #192
  • Mar 26, 2026 4:02pm Mar 26, 2026 4:02pm
Quoting emmzett
{quote} Sorry, but I don't use MT5, so I can't help you with that. In general the USD index from ICE is a trade weighted index. Its components and the calculation are explained here. I use MT4 for custom symbols and my self-calculated USDX looks like in the picture. Your screenshot shows a rather tiny spot. Also you have a gap from Midnight to 03:00 in your screenshot, which makes your result even more fuzzy. You need a broker where all currencies are traded 24/5...
That was a terrible example I used just for a laugh, my brokers Dxy is the worst ive seen. I have a live engine built that I can use any basket with and my weight system I believe reflects the true liquidity of the symbols used. So im looking for any ideas what people think to them might be the true USD or EUR etc in there view? and ill throw it together and see if the geometry aligns with risk flows and all that kind of stuff - Im thinking gold index, stock index, world index ideas or just some random basket that might work?
  • #193
  • Edited 2:42am Mar 27, 2026 2:28am | Edited 2:42am
Quoting Eos-Luminus
...So im looking for any ideas what people think to them might be the true USD or EUR etc in there view? and ill throw it together and see if the geometry aligns with risk flows and all that kind of stuff - Im thinking gold index, stock index, world index ideas or just some random basket that might work...
Everything has already been said - just not by everyone

Your question has already been answered in this thread, just read it. There is no single "true" USD etc. There are official indexes, which are mostly trade-weighted. And there are nominal indexes, based on the exchange rates of currencies relative to each other. Imho, nominal indexes better reflect the "true" value of a currency than official indexes.

Advantage of official instruments: they can be traded on an exchange via futures. To trade nominal indexes, you have to create and manage a basket yourself. While this is more complex, it also offers advantages, as you can trade an edge that may be invisible to most other market participants. That's a significant difference.

Nominal indexes have already been discussed here at length, also the formulas for calculation. Again: Synthetic Indexes
That's my own project, so I know what I'm talking about.

The same applies to metals: you can calculate a Gold index by removing the fluctuation of the respective currency.

The complicated way:
Attached Image (click to enlarge)
Click to Enlarge Name: xau-a1.png Size: 5 KB

But if you've already normalized the USD, it becomes much easier. Both formulas give the same result.
Attached Image (click to enlarge)
Click to Enlarge Name: xau-a2.png Size: 2 KB

Advantage of such a Gold index: it shows trends much smoother and signals possible breakouts earlier and more clear.
Attached Image (click to enlarge)
Click to Enlarge Name: XAUI.png Size: 126 KB



Large investment banks do both: they trade both official instruments and in-house calculated indexes. For example, look at Goldman Sachs' currency indexes, which are very similar to the LFX indexes described here. 10 years ago, Goldman Sachs sent out monthly newsletters to its investment clients. Each individual index was discussed there with charts. Back then, these newsletters were public (if you knew where to find them). I don't know if that's still the case.
It takes blood, sweat and enough tears to wash away the blood.
  • #194
  • Last Post: Mar 27, 2026 3:37pm Mar 27, 2026 3:37pm
Quoting emmzett
{quote} The same applies to metals: you can calculate a Gold index by removing the fluctuation of the respective currency. The complicated way: {image} But if you've already normalized the USD, it becomes much easier. Both formulas give the same result.{image} Advantage of such a Gold index: it shows trends much smoother and signals possible breakouts earlier and more clear. {image} Large investment banks do both: they trade both official instruments...
I did think of that idea but the issue with measuring gold against currencies for the basket means also your measuring countries economies , id say a more aligned gold index needs more. I havnt tested any gold builds nor have I actually studied any correlating symbols in depth, stocks/indexes/custom. A way I would investigate is studying times the XAU moves and measuring that time against multiple symbols that might correlate. So something like, here u can see the correlation between my AUD index and XAUUSD the difference at 14:05 where a bullish drive happens in XAU, that time is where the correlation breaks with AUD, so then what caused it to break that correlation? No idea I dont want to analyze everything, but my USD formed a flag that did send XAU down slightly so we can kind of isolate that move and why it moved but then that also points to did all XAU crosses go down or was it USD driven there, find that piece of correlation and somehow turn it into a formula, easier said then done right. All these little things need thorough observation to find out what type of thing is driving it, is it news, PA, stocks falling, banks? Thinking along the lines of this not specifically using just xau currency, same with the currency Indexes, each is only a representation of how they see the market, so to align a TRUE index means to align a collective truth and how do we do that anybody?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDM5.png Size: 101 KB
Click to Enlarge Name: XAUUSDpM5.png Size: 101 KB
Click to Enlarge Name: USDM5.png Size: 81 KB
0 traders viewing now