Golang : Calculate US Dollar Index (DXY)
Below is a code example on how to calculate the US dollar index based on a basket of other related currencies pairs. The formula to calculate US dollar index is :
USDX = 50.14348112 × EUR/USD^(-0.576) × USD/JPY^(0.136) × GBP/USD^(-0.119) × USD/CAD^(0.091) × USD/SEK^(0.042) × USD/CHF^(0.036)
How you want to deploy the US dollar index in your trading strategy? You can read more about it here.
Here you go!
package main
import (
"fmt"
"math"
"github.com/awoldes/goanda"
)
func main() {
oandaAccountID := ""
oandaAPIKey := ""
// set the NewConnection 3rd parameter to [false] to use DEMO account.
// [true] for LIVE account
UsingLIVEAccount := false // set false to use https://api-fxpractice.oanda.com
oanda := goanda.NewConnection(oandaAccountID, oandaAPIKey, UsingLIVEAccount)
fmt.Println("Calculating USD index using this formula...")
fmt.Println("USDX = 50.14348112 × EUR/USD^(-0.576) × USD/JPY^(0.136) × GBP/USD^(-0.119) x USD/CAD^(0.091) × USD/SEK^(0.042) × USD/CHF^(0.036)")
EURUSD := GetPrice(oanda, "EUR_USD")
USDJPY := GetPrice(oanda, "USD_JPY")
GBPUSD := GetPrice(oanda, "GBP_USD")
USDCAD := GetPrice(oanda, "USD_CAD")
USDSEK := GetPrice(oanda, "USD_SEK")
USDCHF := GetPrice(oanda, "USD_CHF")
EURUSDPowerOf := math.Pow(EURUSD, -0.576)
USDJPYPowerOf := math.Pow(USDJPY, 0.136)
GBPUSDPowerOf := math.Pow(GBPUSD, -0.119)
USDCADPowerOf := math.Pow(USDCAD, 0.091)
USDSEKPowerOf := math.Pow(USDSEK, 0.042)
USDCHFPowerOf := math.Pow(USDCHF, 0.036)
USDX := 50.14348112 * EURUSDPowerOf * USDJPYPowerOf * GBPUSDPowerOf * USDCADPowerOf * USDSEKPowerOf * USDCHFPowerOf
fmt.Println("Current USD Index : ", USDX)
}
//--------------------------------------------------------------------------------------------------------
func GetPrice(oanda *goanda.OandaConnection, cross string) float64 {
instrument := cross
priceResponse := oanda.GetInstrumentPrice(instrument)
return priceResponse.Prices[0].Bids[0].Price
}
Sample output for 8-March-2019:
Calculating USD index using this formula...
USDX = 50.14348112 × EUR/USD^(-0.576) × USD/JPY^(0.136) × GBP/USD^(-0.119) x USD/CAD^(0.091) × USD/SEK^(0.042) × USD/CHF^(0.036)
Current USD Index : 97.54459899738309
Points to remember
If USD is the base currency (USD/XXX), then the USDX and the currency pair should move the same direction.
If USD is the quote currency (XXX/USD), then the USDX and the currency pair should move in opposite directions.
References:
https://www.babypips.com/learn/forex/using-the-usdx-for-forex
See also : Golang : Calculate pivot points for a cross
By Adam Ng(黃武俊)
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