An introduction to the EURX indicator for Ninjatrader
The Euro Currency Index, or EURX as we like to call it, quantifies and displays strength and weakness of the single currency or perhaps as its more commonly known as the euro. As the index rises it suggests strength in the euro against a basket of currencies. As the index falls this signals weakness in the Euro.
The Quantum EURX indicator is calculated from a basket of four currencies with each currency having an equal weighting of 25% against the US Dollar, the Japanese Yen, the British Pound and the
The indicator plots strength and weakness of the Euro as a candlestick chart in a separate indicator window when you attach it to the chart, and works in all timeframes. The indicator is supplied pre loaded with two moving averages which you can change according to suit your own style of trading. Whether the single currency survives in the longer term, is one for debate. In the meantime, having a quick and easy way to view the Euro and its performance against other currencies is key. The Quantum EURX indicator does just that – removing the hard work and presenting a chart which is simple and easy to read, and which provides an instant view of the Euro and whether it is rising or falling, second by second and minute by minute. When used in tandem with the Quantum Currency Strength Indicator it is the closest you can come to having your own Euro crystal ball!
EURX indicator for Ninjatrader in action
In this short video we take a look at the EURX indicator for Ninjatrader in action. Like the USDX and the JPYX indicators, the EURX indicator includes two simple moving averages, and works in all timeframes providing a complete view on the euro against a basket of four other currencies.
The indicator is the perfect way to view strength and weakness in the euro, and with the USDX and JPYX then provides a view across the three most important currencies of the US dollar, the Japanese yen and the euro. So whether you are trading the spot or futures markets, these three indicators then provide a three dimensional view of sentiment as reflected in these primary currencies.