This indicator is designed for the USDMXN trades that the Peso Pros take on the 15m chart using various strategies. The indicator compares the DXY (dollar index) and the USDMXN (peso) to provide a visual of the following:
A) the overall strength and direction (orange line) of the average of both the DXY and the USDMXN B) red bars when the dollar is weaker and the USDMXN is dropping and both are below the moving average (exponential) and both have a percent change on the lower time frame from the higher time frame of at least 10%. C) green bars when the dollar is stronger and the USDMXN is rising and both are above the moving average (exponential) and both have a percent change on the lower time frame from the higher time frame of at least 10%.
Can be helpful for added confirmation when combined with other confirmations and price action factors.