An introduction to the JPYX indicator for NinjaTrader
The JPYX indicator for NinjaTrader has been developed to help provide a view of the Japanese yen on an index, in much the same way as the US dollar and its equivalent index which is now a key part of the traders tools.
The JPYX provides a view of the Japanene yen against a basket of four currencies which are all equally weighted and include the EUR, the USD, the AUD and the NZD. Each has a weighting of 25% and the JPYX indicator then creates an index which can be applied to any chart in any timeframe.
The JPYX indicator for Ninjatrader in action
In this short video we explain how to apply the JPYX indicator to the NinjaTrader chart, as we take a close look at the indicator in action. Here we are using a 15 minute chart for the GBP/JPY, which is one of the trickiest currency pairs to trade, whether in the post market or the future market. However, with the JPYX indicator below, this then provides a clear view of where the Japanese yen is heading against a basket of four major currencies.