EURX - Finally, having found the calculation for the Euro Index - here it is - indicator for MetaTrader 4

EURX - Finally, having found the calculation for the Euro Index - here it is - indicator for MetaTrader 4

Real author:

Andy Thompson


In 2009 I published the indicator for DXY - Dollar Index - it was well received and downloaded many times in English and Russian. Now having found the definition of the Euro Index I submit this for the communitys use and comment.


The definition can be found at Forex Ltd 


//|                                                   Euro Index.mq4 |
//|                                  Copyright © 2015, Andy Thompson |
//|                                   mailto:[email protected] |
#property copyright "Copyright © 2015, Andy Thompson"
#property link      "mailto:[email protected]"
#property strict
#property indicator_separate_window
#property indicator_buffers 3
#property indicator_color1 Red
#property indicator_width1 2
#property indicator_color2 Yellow
#property indicator_width2 1
#property indicator_style2 1
#property indicator_color3 Lime
#property indicator_width3 1
#property indicator_style3 2
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
int i;
extern int short_term_SMA_period=20;
extern int long_term_SMA_period =40;
//int winind;
//| Custom indicator initialization function                         |
int init()
//---- indicators
   IndicatorShortName("Euro Index: EURX / "+short_term_SMA_period+"SMA / "+long_term_SMA_period+"SMA");
//| Custom indicator deinitialization function                       |
int deinit()
//| Custom indicator iteration function                              |
int start()
   int counted_bars=IndicatorCounted();
   if(counted_bars < 0)  return(-1);
   if(counted_bars>0) counted_bars--;
   int limit=Bars-counted_bars;
   if(counted_bars==0) limit-=1+long_term_SMA_period;
//---- main loop
   for(i=0; i<limit; i++)
      ExtMapBuffer1[i]= 34.38805726*MathPow(iClose("EURUSD",0,i),0.3155)*MathPow(iClose("EURJPY",0,i),0.1891)*MathPow(iClose("EURGBP",0,i),0.3056)*MathPow(iClose("EURSEK",0,i),0.0785)*MathPow(iClose("EURCHF",0,i),0.1113);

   for(i=0; i<limit; i++)
      for(int z=0; z<long_term_SMA_period; z++)
         if(z<short_term_SMA_period) ExtMapBuffer2[i]=ExtMapBuffer2[i]+ExtMapBuffer1[i+z];
      ExtMapBuffer2[i] = ExtMapBuffer2[i]/short_term_SMA_period;
      ExtMapBuffer3[i] = ExtMapBuffer3[i]/long_term_SMA_period;
//---- done



  • The periods for the moving averages can be changed - defaults are 20 and 40
  • The indicator will work on any chart and on any period

Download EURX - Finally, having found the calculation for the Euro Index - here it is - indicator for MetaTrader 4

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