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-   -   Pair Strength Analyzer indicator (https://www.forexfactory.com/showthread.php?t=513671)

Shabs19 Jun 9, 2018 7:50am | Post# 321

{quote} Thanks alot Shabs19, I tried using EU_, AJ_ etc but still did not work, then i Tried using it in full EURUSD_, AUDJPY_ etc and then it worked. heres the screen shot, also ajusted the settings and everything seems to be fine. {image} Thanks a whole lot for your help Shabs19 I have a question though, in the case of the default settings EU, AJ etc what will be the suffix for Gold and Ripple in other for it to display its strength too
Well Done for persisting

idreezz Jun 10, 2018 1:20am | Post# 322

{quote} Well Done for persisting
Thanks Boss

Shabs19 Jun 10, 2018 6:36am | Post# 323

{quote} I have a question though, in the case of the default settings EU, AJ etc what will be the suffix for Gold and Ripple in other for it to display its strength too
From Post #1

[quote=hanover;7878879]Pair Strength Analyzer (PSA) This is an indicator that I use as an adjunct to my strength indicators, to confirm strength/weakness by using a very different algorithm. The indicator has only been tested for the 8 major currencies AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD. There's no guarantee that it will provide meaningful values for exotics, metals, commodities, indices, etc, whose 'pipvalue' values can vary from broker to broker.

mikethadon Jun 11, 2018 12:36pm | Post# 324

{quote} Thanks alot Shabs19, I tried using EU_, AJ_ etc but still did not work, then i Tried using it in full EURUSD_, AUDJPY_ etc and then it worked. heres the screen shot, also ajusted the settings and everything seems to be fine. {image} Thanks a whole lot for your help Shabs19 I have a question though, in the case of the default settings EU, AJ etc what will be the suffix for Gold and Ripple in other for it to display its strength too
Hey man what moving averages are you using in that picture for five minute scalping?

mikethadon Jun 12, 2018 12:36am | Post# 325

if i want to scalp on the 5 min chart using the PSA indicator what settings would be good to set it to?

idreezz Jun 13, 2018 8:06am | Post# 326

[quote=Shabs19;11151716]{quote} From Post #1
Pair Strength Analyzer (PSA) This is an indicator that I use as an adjunct to my strength indicators, to confirm strength/weakness by using a very different algorithm. The indicator has only been tested for the 8 major currencies AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD. There's no guarantee that it will provide meaningful values for exotics, metals, commodities, indices, etc, whose 'pipvalue' values can vary from broker to broker.

Thanks boss

idreezz Jun 13, 2018 8:07am | Post# 327

{quote} Hey man what moving averages are you using in that picture for five minute scalping?
Ema 14
Ema 50
Ema 200

mikethadon Jun 13, 2018 9:46am | Post# 328

{quote} Ema 14 Ema 50 Ema 200
Thanks man, what setting do you use to scalp on the 5 min chart with the PSA indicator?

Ican2020 Jun 30, 2018 8:21am | Post# 329

Dear hanover,
Thank you for all the great contributions in ff and I want to let you know that ff communities appreciates your highly.

tophat4d Jul 16, 2018 12:10pm | Post# 330

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Hi Hanover

I've followed you for a good while and love what you do. I need help with a very simple indicator that I have.

The indicator is in MQL4 format that I need editing. I simply want to take out the Sunday level... so only show levels from Monday through Friday and the Friday level to be shown on Mondays.

I've tried to do a simple edit on colours etc and when it compiles it came up with errors so possibly unable to edit? But it is a really simple one horizontal daily line I need. Hope that helps?

I need the mid price level shown each day. The only input is the starting hour in hours and minutes... 00:00, 18:22 etc etc. Colour to be a Gold solid line with a thickness of 2. So if the daily range on Monday is 100 pips I want a gold line through Tuesday at the 50 pip level of Monday's range. I also need to see the 'steps' please. And the important bit is NOT to include anything relating to Sunday - so Monday's mid level line is from Friday... The indi attached shows high, low and mid price... I only want the mid price level.

Can you help please. Regards from the U.K.

Mark
dayHL.mq4

TraderLee Sep 2, 2018 12:42am | Post# 331

{quote} {quote} Many thanks for the feedback guys, I hope you find the indicator useful.
it is very useful mr hanover.
i use it to see what direction a currency is moving.
it helps a lot with my trading.
i thank you so much for developing this indicator.

Retin Oct 6, 2018 9:01pm | Post# 332

Wow, just read all th pages from years back....i have downloaded n cant wait for the market open to use it.
THANK YOU @Hanover, u are a Rare Gem.

FxChampion9 Dec 12, 2018 1:22am | Post# 333

Anyone managed to get the parameterFile to work?
Have tried all different methods of naming a file without success -anyone?
Have set 1 as parameterFile and should not the file be named /Files/Presets---PSA.1

fred01 Apr 23, 2019 5:08am | Post# 334

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This is my fourth post since 2007. I have been an active reader and listener to senior members on FF, e.g. @FerruFx, @Hanover, @Erebus and several others. My sincere thanks to all of you especially the creator of PSA which have been generating a huge return for my Forex trades. So many +++PIPS i must say. Thanks @FerruFx, @Hanover. May the good Lord continue to increase your knowledge in coding and trading beyond your imagination.

This is by far the best.

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fred01 Apr 24, 2019 11:10am | Post# 335

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This is my fourth post since 2007. I have been an active reader and listener to senior members on FF, e.g. @FerruFx, @Hanover, @Erebus and several others. My sincere thanks to all of you especially the creator of PSA which have been generating a huge return for my Forex trades. So many +++PIPS i must say. Thanks @FerruFx, @Hanover....

Its been a sweet journey so far, combining this great coders indicators.

2019-04-24 at 10.59.57 AM.mp4

fred01 Apr 25, 2019 6:01am | Post# 336

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{quote} Its been a sweet journey so far, combining this great coders indicators. {file}
I am so excited that i have to show my trade result for the little time that i have been trading using this tool. But i would advice that you should only add this tool to a ready made trade plan. That i am quite sure is the best solution.Click to Enlarge

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Mactormind May 21, 2019 1:33am | Post# 337

This is my fourth post since 2007. I have been an active reader and listener to senior members on FF, e.g. @FerruFx, @Hanover, @Erebus and several others. My sincere thanks to all of you especially the creator of PSA which have been generating a huge return for my Forex trades. So many +++PIPS i must say. Thanks @FerruFx, @Hanover....
Hey good sir, may I ask what that indicator in the lower right corner is? The one that shows trend strength in percentage that also says UP or DOWN??

Thank you!

fxomo Jul 21, 2019 2:11pm | Post# 338

Thanks Hanover, for creating this wonderful indicator. Possibility of Combinations of timeframes, periods and weightings makes it potentially powerful - that is according to me. I wish it could have been possible to have a long back test of strategies with it over historical data. Will continue exploring it. Thanks again.

hanover Aug 4, 2019 4:22am | Post# 339

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My sincere thanks to all of you especially the creator of PSA which have been generating a huge return for my Forex trades.
Thanks for your kind comments. Glad the indicators are working well for you.

Just a quick word about the 'Currency Meter Pro' (in the top left of your final screenshot in post# 334). For better or worse, the displayed value is merely where the current price is, %-wise, up/down the DAILY candle. If it's currently at the top, the reading is +100, at the bottom the reading is -100. Blue means that the candle is bullish (current_price > open), red means bearish (current_price < open). This creates the following potential anomaly: for example supposing the open is 75% of the way up the candle, then when the current price is 74% up the candle, the value will be -26, but if it rises a whisker to 76%, the value will jump suddenly all the way up to to +76!! Presumably the developer didn't think of that. It also means that, just after a new daily candle forms, the values will fluctuate wildly, because there will be little difference between the candle high and low; hence the longer the candle has had to form, the better the reliability. Anyway, I'm pretty sure that's the way that it works.Name:  PPI 083.png
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I wish it could have been possible to have a long back test of strategies with it over historical data.
Sorry, this is not currently possible. But thanks for your kind comments.
______________________________________

This question would be better directed to Hanover. But if you posted a screenshot of your Inputs I would be happy to offer some informed comments. Cheers.
Just so that you don't waste time answering the same question, I've replied here:


I downloaded the PSA hanover, the same setting from post # 2394, but I have completely different numbers. Do you know where the problem might be?
If you're running the same version of the indicator (I have attached the latest below, it should be the same as that in post #1 in this thread) as me, then it stands to reason that it will be performing exactly the same calculations.Pair Strength Analyzer.ex4
That leaves these potential possibilities:

1. Your settings are different. (Your screenshot shows only 10 currency pairs, whereas mine shows 28. Sure, that won't affect the calculation, but it makes me wonder if something else isn't the same). I've highlighted the settings that can potentially affect the calculation in the screenshot below.Click to Enlarge

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2. Your broker's price data is different to mine. Perhaps some candles are missing on certain pairs/timeframes, perhaps he's not offering all 28 pairs, perhaps his timezone is different (causing different closing prices on H4 and D1 candles, on which the indicator's calculations are based), perhaps some of the closing prices on other candles are different, perhaps you have a different number of historical candles loaded, and so on. I've had different results on the same broker's live and demo platforms, due to different data.

3. MT4 version. This is very unlikely to have an effect, but perhaps you're running a different MT4 build. Mine is Axitrader build 1170.

[Note: In my experience, if a strategy is robust, different settings or data shouldn't impact the long term result too much. Strategies that are 'curve fit' to certain settings (i.e. backtest profitably on some settings, but not others) are less likely to succeed in the long term. In most cases, it is the concept behind the strategy that provides the 'edge'. More info on strength meters (fwiw) here.]

jusiur Aug 5, 2019 11:02am | Post# 340

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Dear Hanover, I have been using PSA for more than a year now, it is simply a wonderful tool. I have a concern that really does not significantly affect the way in which PSA supports my trading decisions and that is I added another tool (BUTTOMS) and when I change the instrument it also changes the PSA readings in some way, I would like to know the underlying reason if possible. Thanks.
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BUTTONS_separateWindow.mq4


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