New: Metatrader 5 Indicator | Institutional DXY Overlay and Correlation Divergence | MQL5 Code

New free code from MQL5: indicators, EAs, and scripts for traders.

The Institutional DXY Overlay is a high-performance utility that synchronizes and plots the Dollar Index directly on your trading chart. This allows for immediate visual confirmation of Smart Money footprints without switching windows.

Key Technical Features

• Multi-Symbol Synchronization: Uses advanced iClose requests to pull data from a secondary symbol (default: DXY or USDX) and aligns it perfectly with the primary chart's timeframes.

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• Dynamic Scaling: Automatically adjusts the overlay scale to fit your current price action, ensuring the correlation is visually intuitive regardless of price magnitude differences.

• SMT Divergence Spotter: Essential for identifying when the DXY makes a Higher High while the correlated pair fails to make a Lower Low (a classic sign of institutional accumulation).

• Optimized Engine: Built with efficient data polling to ensure zero impact on terminal latency, even when scanning deep historical data.

Input Parameters

• OverlaySymbol: The symbol to overlay (Default: "DXY" or "USDX").

• LineColor / LineWidth: Fully customizable visual appearance.

• InvertCorrelation: Toggle to mirror the symbol (useful for EURUSD vs DXY).

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