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Volatility Index

Indicator guide

The VIX measures expected volatility in the S&P 500 over the next 30 days and acts as a macro sentiment gauge. While not an FX-specific tool, it’s a powerful overlay for evaluating risk conditions when trading sensitive pairs like JPY, CHF, and USD inside FX Replay.

VIX (Volatility Index) – FX Replay Guide

The VIX measures expected volatility in the S&P 500 over the next 30 days and acts as a macro sentiment gauge. While not an FX-specific tool, it’s a powerful overlay for evaluating risk conditions when trading sensitive pairs like JPY, CHF, and USD inside FX Replay.

How FX Traders Use the VIX

Risk Sentiment Filter

  • VIX < 12 → Calm market → Favor risk-on trades

  • Example: Long AUD/JPY, short USD/CHF

  • VIX > 20 → Rising fear → Favor risk-off setups

  • Example: Long JPY or CHF, short emerging market currencies

Session Planning with VIX in FX Replay

Use VIX context to shape your bias during session opens:

  • London or NY session, VIX at 28, equities gapping down → Expect volatility surges in GBP/JPY, USD/JPY
  • Helps decide: breakout day vs. mean-reversion day

Backtesting Strategy Filters

Track and tag trades by VIX conditions:

  • VIX > 30 → Did price fake out or explode?

  • VIX < 15 → Were breakouts weaker, trends slower? Use this to:

  • Adjust entry timing

  • Modify stop size

  • Filter or skip choppy sessions

Correlation Play

When VIX surges:

  • Watch for sharp moves in DXY, Gold, or Crude
  • Apply intermarket logic to refine your bias during replay

Pro Tip

FX Replay doesn’t plot VIX natively, but you can manually add context:

  • Add VIX level as a journal tag in each trade (e.g., VIX = 32)

  • Create strategy filters like:

  • “Only enter when VIX < 20”

  • “Scale out if VIX > 30”

Use VIX to:

  • Filter entries on high-volatility fakeouts
  • Spot macro stress that affects JPY, CHF, or risk pairs
  • Align trades with global fear sentiment

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