The non-negative Polar Cap PCC index built from PCN (North) and PCS (South) correlates considerably better with the solar wind merging electric field and is more representative for the total energy input from the solar wind to the magnetosphere and for the development of geomagnetic disturbances than either of the hemispheric indices. The present work shows that the ring current index, Dst, to a high degree of accuracy can be derived from a source function built on the PCC indices. The integration of the PCC-based source function throughout the interval from 1992 to 2018 without attachment to the real Dst indices based on low latitude magnetic observations has generated equivalent Dst values that correlate very well (R=0.86) with the real Dst index values, which are represented with a mean deviation less than 1 nT and an overall rms deviation less than 13 nT. The precise correlation between the real and equivalent Dst values have been used to correct the PCC indices for saturation effects at high intensity disturbance conditions where the Dst index may take values beyond -100 nT. The relations between PCC and the ring current indices, Dst and ASY-H have been used, in addition, to derive the precise timing between polar cap convection processes reflected in the polar cap indices and the formation of the partial and total ring current systems. Building the ring current is considered to represent the energy input from the solar wind, which also powers auroral disturbance processes such as substorms and upper atmosphere heating. Thus, the PCC indices measuring accurately the energy input from the solar wind are powerful tools for space weather monitoring and for solar-terrestrial research.