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Trading system using relative strength I have been testing out a simple system almost exclusively looking at price action with fairely good results.This is how it is done: 1.Open any chart with 4 hr bar 2.add CCfp Indicator. 3. look for differences of each currency on the data menu of the LAST TWO 4hr bar. 4 Open the postion 5-10 minutes after the new bar has opened The account has grown pretty good with alsmost no loss so far in the last one month. This is so simple it must be easy to create an EA or indicator for this system. I will soon put up the chart and indicator here. Thanks Kris |
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check for the price differences of the ccfp on the data menu and find out which currency is stronger/weaker on the last 4 hr bar. Then open the pair and watch your pips grow.!!! The advantage of this method is 1. you are in tandem with the strength of the MAIN currency in the pair 2. You are trading multiple currency pair at the same time kris |
Kewl Very interesting system, Kris. I'll be trying this. |
ES, Do you have the code for this indi? It won't display on brokers with a suffix. |
thanks Eureka. You wont regret.Of course try it out on Demo. I will put my trades in one hr when new 4 hr bar will open. Kris |
Great!! What are you using for TPs and SLs? Carol |
This indicator crashes my metatrader? Any ideas? |
price differences? hi kris, sorry but i wonder could you explain what you mean by "check for the price differences" thanks |
Benq, I am glad you are here. I am not able to display this indicator on IBFX mini account because I have to add "m" at the end of the pair. I do not know how to do that.are you able to change the code to show it on ibfx account? Thanks Kris |
Fourx Look at the completed two 4 hr previous bars. Then look at the values of each of 8 currencies on the data menu. If the value is more than the previous bar the currency is strong and vice versa. You can also trade thes e currencies in the futures market( of course you will need lot more margin, but better than forex brokers since futures brokers are well regulated) using this sytem. I made close to 4 grand in 0ne hr . Kris |
thanks cheers kris |
Does this indicator go in the experts folder or the experts/indicator folder? |
I don't use IBFX. My broker has a different suffix. I'm not a coder, but I can usually change something like this. However, this one looks a little beyond me. Hopefully someone else will take care of it.
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Hoss, goes in experts/indicator folder. |
Carol, I am still working on SL and TP. I have been basically using standard 2-3% of account value as SL. As far as TP goes I get out if I am happy with the amount or just enough to pay monthly payment for my son,s medical school tuition. LOL. Kris |
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sorry! Kris , sorry kris but i still dont grasp what you mean. the chart you are showing nz/jp has a bar from 1st oct?, why? what would your trade be from the data you are showing? cheers |
How many pips have you made with this system in the past month you have been trading it? |
ccfp cant attach to chart? sorry bout this kris! but while its quiet  |
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