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The indicator shows points for the continuation of the trend for currency pairs with the participation of the dollar USD with a probability of more than 80%. The algorithm is based on comparing the momentum of the current currency pair with the momentum of the dollar index DX at the current time. Using the dollar index allows you to evaluate not only the current pair, but the whole complete picture for all major currencies at once. This approach increases the reliability and reduces the number of false positives, allowing you to build new strategies with a high probability of working out.

The trend continuation points of the indicator are displayed on the chart with arrows and, if necessary, are notified with alerts. The high reliability of the indicator will allow you to correctly assess the current trend and make accurate market entries for the continuation of the trend.

If the MDX-momentum line of the dollar index is zero, this indicates the absence of quotes in this section of history!

To test the indicator on the history, upload the following quotes to the terminal: EURUSD,USDJPY,GBPUSD,USDCAD, USDCHF, and USDSEK – if available.

The names of all pairs should be without prefixes and suffixes.

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To load historical quotes into the MT4 terminal, press the F2 key, select the necessary pair and load all the above quotes one by one.

If the indicator line changes its value during MDX testing, it means that the quotes for calculating the dollar index have been successfully loaded.

  • – – – – – – – – – – Momentum line (M) – – – – – – – – – – settings for the momentum line
  • Momentum period – the momentum period for the current pair
  • Smoothing period – smoothing the momentum line
  • Calculation by weight coefficient – ON, classic-OFF-enable calculation taking into account the weight of each candle
  • – – – – – – – – – – Momentum DX line (MDX) – – – – – – – – – – settings for the dollar index momentum line
  • Momentum DX period – the period of the dollar index momentum for the current pair
  • Smoothing period-smoothing the momentum line of the dollar index
  • Calculation by weight coefficient DX – ON, classic-OFF-enable calculation taking into account the weight of each candle
  • – – – – – – – – – – Display – – – – – – – – – –
  • Display on history bars – the number of bars to display the indicator
  • Display cross line entry points and alerts-enable display and alerts when crossing momentum lines
  • – – – – – – – – – – Alerts – – – – – – – – – –
  • Alert – alert of the entry point
  • Push notification-notification to the phone of the entry point
  • Email-the email of the entry point

To verify the quality of the indicator, test its demo version in the strategy tester.

I will be glad to suggestions for improvement, reviews and any feedback.

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