PipTick Currency Index is a really helpful tool that enables traders to display any index of eight major currencies. The indicator uses the unique calculation formula that reflects actual volume of forex market. Basically, it is a weighted average of currency pairs values which form the crosses of index currency. The default weights are based on the results of the BIS Triennial Central Bank Survey. Because of this advantage, the trader can see the true strength and weakness of each currency.

Note: In case the indicator is used in Strategy Tester (demo version), please keep in mind that the data of all currency pairs have to be downloaded in History Center before the simulation has started (How-to). In case the indicator is added to the chart in the usual way, no downloads are needed.

Currency Indexes

• USDX - US Dollar Currency Index
• EURX - Euro Currency Index
• GBPX - British Pound Currency Index
• CHFX - Swiss Franc Currency Index
• CADX - Canadian Dollar Currency Index
• JPYX - Japanese Yen Currency Index
• AUDX - Australian Dollar Currency Index
• NZDX - New Zealand Dollar Currency Index

Main Features

• The indicator shows index of eight major currencies (USD, EUR, GBP, CHF, JPY, CAD, AUD, NZD)
• Simple comparison of strength and weakness of one currency
• Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN)
• The indicator is non-repainting
• Ready for backtesting
• Customizable parameters (Colors, Line thickness, Weights)
• Very fast calculation
• Indicator works with prefix and suffix of symbols as well (EURUSD.m, EURUSD-pro...)
• Available for MT4 and MT5

Input parameters

• Currency_Index - Allows to choose main currency for calculation. You can choose from USDX, EURX, GBPX, CHFX, CADX, JPYX, AUDX, NZDX
• Chart_Type - Allows to choose between type of chart output. You can choose candlesticks or line
• Line_Thickness - Thickness of Currency Index line
• Label_Size - Size of main currency label
• Text_Size - Size of other currency labels
• Bars_Ago - Number of bars displayed by the indicator. In case Bars_Ago parameter is set to 0, all bars in chart will be displayed
• Weight_USD - USD weight coefficient
• Weight_EUR - EUR weight coefficient
• Weight_GBP - GBP weight coefficient
• Weight_CHF - CHF weight coefficient
• Weight_CAD - CAD weight coefficient
• Weight_JPY - JPY weight coefficient
• Weight_AUD - AUD weight coefficient
• Weight_NZD - NZD weight coefficient
• Color_USD - Color of USD line and label
• Color_EUR - Color of EUR line and label
• Color_GBP - Color of GBP line and label
• Color_CHF - Color of CHF line and label
• Color_CAD - Color of CAD line and label
• Color_JPY - Color of JPY line and label
• Color_AUD - Color of AUD line and label
• Color_NZD - Color of NZD line and label
• UpBar_Color - Color of up bar in the indicator
• DownBar_Color - Color of down bar in the indicator

Outputs parameters

• PipTick CI Open - Indicator output bar open value
• PipTick CI Close - Indicator output bar close value
• PipTick CI Candle Up - Indicator drawings output. Irrelevant for traders
• PipTick CI Candle Down - Indicator drawings output. Irrelevant for traders
• PipTick CI Candle Eraser - Indicator drawings output. Irrelevant for traders
• PipTick CI Wick Up - Indicator drawings output. Irrelevant for traders
• PipTick CI Wick Down - Indicator drawings output. Irrelevant for traders
• PipTick CI Wick Eraser - Indicator drawings output. Irrelevant for traders

For more information, visit the PipTick Currency Index product page.