New Forex Stuff Absolute price indicator

Aleksey_Ivanov

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The Absolute price indicator is intended for professionals assessing fundamental market trends. This indicator calculates the index of any instrument and analyzes it.

The Absolute price indicator allows you to determine the index or absolute price of any currency from a currency pair containing the dollar or euro, as well as the absolute price of any other instrument (metal, CFD, etc.) by correlating the quote of this instrument with the index of the dollar (USDX) or the index of the euro (EURX).



Namely: the Index (X) index of currency X in pairs X/USD and X/EUR is found from the ratios Index (X) = (X/USD)*USDX and Index (X) = (X/EUR)*EURX, and for pairs USD/X and EUR/X - from the ratios Index (X) = USDX/(USD/X) and Index (X) = EURX/(EUR/X).

The absolute price of a metal or CFD, the quote of which M is determined in relation to the dollar, is calculated as Index (M) = M*USDX.

The Absolute price indicator, of course, also calculates the USDX dollar index according to the standards adopted by the Intercontinental Exchange (ICE), where this index is calculated as a geometric weighted average of these currencies using the formula:

USDX = 50.14348112 * USDEUR^(0.576) * USDJPY^(0.136) * USDGBP^(0.119) * USDCAD^(0.091) * USDSEK^(0.042) * USDCHF^(0.036),

showing the value of the US dollar against a basket of six major currencies: the euro (EUR), the yen (JPY), the pound sterling (GBP), the Canadian dollar (CAD), the Swedish krona (SEK), and the Swiss franc (CHF).

A similar ratio for the euro index (adopted by the European Central Bank) is:



EURX=34.38805726*EURUSD^(0,3155)*EURGBP^(0.3056)*EURJPY^(0.1891)*EURCHF^(0.1113)*EURSEK^(0.0785).



The Absolute price indicator not only calculates the absolute prices or indices of various instruments, but also allows you to quickly analyze their behavior (tendencies and trend changes) based on a number of indicators, namely: 1) Moving Average; 2) Relative Strength Index; 3) Momentum; 4) Commodity Channel Index; 5) Bollinger Bands; 6) Envelopes.



For the indicator to work, you need to load the history (Tools / History Center) of quotes EUR, JPY, GBP, CAD, SEK и CHF.





Indicator settings.

  • Calculate Index (absolute price). Calculate index or absolute price. Values: Index USD, Index EUR, Chart instrument index (default).
  • Select the index analysis mode. Values: No (default – shows the index itself), Moving Average; Relative Strength Index; Momentum; Commodity Channel Index; Bollinger Bands; Envelopes.
  • The averaging method. Values: Simple (default), Exponential, Smoothed, Linear weighted.
  • The averaging period . Values: any integer (15 default).
  • Deviations (STD for Bands, % for Envelopes) – deviation. Values: any real number (2.0 default).


Screenshots.
1_USDCHFH1.png


2_USDCHFH1.png


3_GBPUSDWeekly.png


4_GBPUSDWeekly.png


5_GBPUSDWeekly.png


6_GBPUSDWeekly.png



Download or buy Absolute price indicator can be on the link.
 

Aleksey_Ivanov

Private
Messages
40
The Absolute price indicator (https://www.mql5.com/en/market/product/54630 ) allows you to reliably identify trends and assess the possibility of their continuation.

Released a new version (v2.0) of the Absolute price indicator. Now you can calculate the index of any currency from any currency pair (not just one containing the euro or dollar). Added a section in the description using the indicator in trading and added the corresponding screenshots.

1_NZDCADWeekly.png


2_NZDCADWeekly.png


3_CADJPYH1.png


4_CADJPYH1.png
 
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