An introduction to the EURX index for Tradestation securities
The Euro Currency Index, quantifies and displays strength and weakness of the single currency. As the index rises it suggests strength in the single currency against a basket of currencies. As the index falls this signals weakness in the euro.The Quantum EURX is calculated from a basket of four currencies with each currency having an equal weighting of 25%.
- US Dollar
- Japanese Yen
- British Pound
- Australian Dollar
The indicator can be used in one of three ways. First, to identify and confirm strength and weakness in major and cross currency euro pairs, 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 to provide a relevant and consolidated view of the euro
The indicator for Tradestation plots the strength and weakness of the euro as a candlestick chart in a separate indicator window when you attach it to the chart. In addition, there are two configurable simple moving averages to make chart reading easier.
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 and instant view of the euro and whether it is rising or falling, second by second and minute by minute and as you would expect on all the timeframes on the Tradestation platform.