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

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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 community’s 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

MT4 Indicators – Download Instructions

EURX is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.Subway provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.

Based on this information, traders can assume further price movement and adjust their strategy accordingly.

How to install the software?

  • Download the mq4 file from the zip file.
  • Copy the mq4 file to your Metatrader Directory / experts / indicators /
  • Start or restart your Metatrader Client
  • Select Chart and Timeframe where you want to test your indicator
  • Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
  • Right click on the mq4 file.
  • Attach to a chart
  • Modify settings or press ok
  • Indicator should be available on your Chart

How to remove tim.mq4 from your Metatrader 4 Chart?

  • Select the Chart where is the Indicator running in your Metatrader Client
  • Right click into the Chart
  • “Indicators list”
  • Select the Indicator and delete

MT4 Indicators Download below: