The Quantum USDX has been created to provide a more “balanced” view of the US Dollar, more representative if you like of the world today. It has a basket of four currencies which are equally weighted, in the same way as with the Quantum JPYX indicator. These are as follows:
- British Pound
- Japanese Yen
- Australian Dollar
The Quantum USDX indicator displays strength and weakness in the US Dollar against this basket of currencies. It can be applied to any chart in any timeframe, and will give you an instant view of the US Dollar. Alternatively, why not create a separate workspace with multiple timeframes. Observing the movement of the USDX is essential, as it provides an alternative view of price action in related markets such as gold, oil, and agricultural commodities.
The indicator can be used in one of three ways:
- First, as an inverse indicator to a major currency pair, helping you get in, stay in, and get out
- Second, as a confirming indicator for the Quantum Currency Strength indicator, providing a perspective against other currencies
- Finally, as the ultimate barometer of risk as a safe haven currency and currency of first reserve.
Whichever approach you adopt, you will no longer have to leave your NinjaTrader platform for a view of the US Dollar! How cool is that!