Skip to content
All library documents

Comparing USD and EUR Basket Strength with an Awesome Oscillator

Article MQL5 code base
Read the original

Summary

The document describes an MT4 indicator that compares the USDX and EURX currency baskets alongside an Awesome Oscillator. It is suggested for EUR/USD and can also be applied to major pairs quoted against the US dollar or euro. The listed dollar pairs include AUD/USD, GBP/USD, NZD/USD, USD/CHF, USD/CAD, and USD/JPY; the euro list includes EUR/AUD, EUR/GBP, EUR/NZD, EUR/CHF, EUR/CAD, and EUR/JPY.

The notes report display and performance updates, including options to hide either basket’s histogram and removal of a strict timeframe calculation setting. They do not explain how the indicator calculates signals, how to interpret the oscillator or basket comparison, or how entries and exits should be chosen. No backtest, performance evidence, or risk guidance is provided, so the document supports only a basic understanding of the tool’s intended scope.

Key ideas

  • The indicator compares USDX and EURX with an Awesome Oscillator.
  • It is presented for EUR/USD and other major pairs against the dollar or euro.
  • The updated display can show or hide the USD and EUR histograms independently.
  • The document does not specify signal rules, trading results, or risk controls.

Tags

ForexTechnical indicators

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.