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-   -   (binned per thread starter's request) Currency Strength with cont (https://www.forexfactory.com/showthread.php?t=761579)

frostypips Jul 31, 2019 12:44pm | Post# 2341

{quote} The winners will heavily subsidize the losers. That is gold wisdom. Today is a no trade day. Red news for Dollar. Plenty of profit taking and reversals. They will wait until the non farm employment news. ------ Watch the RSI strength indicator by the genius fxbarwise :-). Yes, it's hard to keep a watch if you have a lot of trades but see how the EURAUD had a strength in the 80+% in the nice large up move and dropped quickly with the RSI moving to to around 60% in the Asian session last night. Close it around 65%. It is now showing a reading...
Totally agree with this. This is the core of this strategy, along with the retail data. Truly the most powerful thing i've seen.

frostypips Jul 31, 2019 12:48pm | Post# 2342

{quote} Still bullish on the weekly timeframe. I took profit at 85 pips but reopened a fresh position knowing it would fall today. I want to see how the weekly timeframe plays out with a bullish RSI2. Although I use the weekly for macro analysis, Iíve never tended to execute trades off it for fear of being caught in a position. Took a position on crude recently that took me 2 weeks to close, but it played out beautiful for 300 pips. I do wonder whether swing trades are easier...
Correct. Still bullish on the weekly. Retail is still net short on EURAUD. (And net long on AUD in general). So as you said, definitely a pullback and then a continuation if myfxbook data doesn't change. This is my opinion only. Don't follow me lol

fxbarwise Jul 31, 2019 1:18pm | Post# 2343

1 Attachment(s)
{quote} Cannot get this indicator to show up on my screen. Any one else? OK I see it now. One of my other indicators was blocking it . Any way to apply a shift and font size to better see it? Otherwise great idea!
Updated indicator with changes as requested...
TrendStrength - RSI.ex4

fxbarwise Jul 31, 2019 1:24pm | Post# 2344

{quote} This shows the same values as the standard 2 period RSI with MA that Iím using on Tradingview. Is there anything special here that Iím missing?
Neo, this just displays the RSI value of periods 2 & 9 on H4, D1, W1 & MN timeframe divided by 8 as Neil specified. I have not compared the value to that of the MA of RSI2 on linebreak 1 chart on TV. Neil obviously researched and tested this so that it is close to the RSI on TV.

frostypips Jul 31, 2019 1:44pm | Post# 2345

{quote} Neo, this just displays the RSI value of periods 2 & 9 on H4, D1, W1 & MN timeframe divided by 8 as Neil specified. I have not compared the value to that of the MA of RSI2 on linebreak 1 chart on TV. Neil obviously researched and tested this so that it is close to the RSI on TV.
You are awesome fxbarwise. Many thanks for this.

fxbarwise Jul 31, 2019 1:54pm | Post# 2346

{quote} You are awesome fxbarwise. Many thanks for this.
Cool man, no sweat! Just hope it will help all of us....

fxbarwise Jul 31, 2019 1:58pm | Post# 2347

FOMC are upon us people - time to exit those USD positions!!

neilsdigest Jul 31, 2019 3:20pm | Post# 2348

I believe after them moves there are going to be some seriously mad retail traders :-)

Let the market settle down now and see what it does.

Jozec Jul 31, 2019 3:22pm | Post# 2349

{quote} Updated indicator with changes as requested... {file}

Thanks fxbarwise for the good work, please check the font size. Could not adjust the font size, anyone with same experience?

neilsdigest Jul 31, 2019 3:25pm | Post# 2350

{quote} Thanks fxbarwise for the good work, please check the font size. Could not adjust the font size, anyone with same experience?
Just tested it for you.. Yes same.. The font size doesnt change.. Shall we ban him lmao

Neogenesis Jul 31, 2019 3:28pm | Post# 2351

Currently up 75 pips so far this morning on EURAUD on top of the EURGBP, GBPCHF, GBPJPY, GBPNZD and GBPUSD profits. If the weekly is anything to go by this has time to run as well... I wish the fed was predictable, if thereís definitely a rate cut tomorrow there should be some delicious over extended setups on USDJPY, USDCHF and maybe USDCAD. edit: just checked and retail are mostly short USD, in anticipation of a rate cut. I wonder if that means weíll see substantial volatility with price going long tomorrow (could come crashing back down when...
Well slap me in the face and call me Jesus, the Fed cut rates, retail are short and as I predicted - USD pairs are all up.

Can I be in the blog please?

frostypips Jul 31, 2019 3:29pm | Post# 2352

I believe after them moves there are going to be some seriously mad retail traders :-) Let the market settle down now and see what it does.

For your viewing pleasure

https://www.forexfactory.com/news/93...t#post12414354

The retail majority shorting USD and all got destroyed. Once again, you prove yourself Neil. The absolute master.

neilsdigest Jul 31, 2019 3:38pm | Post# 2353

{quote} For your viewing pleasure https://www.forexfactory.com/news/93...t#post12414354 The retail majority shorting USD and all got destroyed. Once again, you prove yourself Neil. The absolute master.
Well I have been reported to the FCA by the crazy blogger for insider trading.... I admit crazy blooger. I new they where going to cut the rate. Now send in the SAS.
Why was the cut good for the USD... Because that one was good for the economy.

If I disapear you know ive been locked up in jail or executed.

Oh update on blog....... No surprises - Neil Groom's 'changed' method turns out to be total garbage hahahahahahahahahahaha. Its the same just made better to keep you in the trends longer. Myfxbook and the RSI.

Sorry for the language but I think its so F**king funny.

Lets all destroy the retail traders and go live on a desert island away from crazy people ;-)

4xu2 Jul 31, 2019 3:41pm | Post# 2354

{quote} updated indicator with changes as requested... {file}
oohhh! You rock brother!

4xu2 Jul 31, 2019 3:44pm | Post# 2355

{quote} Well I have been reported to the FCA by the crazy blogger for insider trading.... I admit crazy blooger. I new they where going to cut the rate. Now send in the SAS. If I disapear you know ive been locked up in jail or executed. Oh update on blog....... No surprises - Neil Groom's 'changed' method turns out to be total garbage hahahahahahahahahahaha. Sorry for the language but I think its so F**king funny. Lets all destroy the retail traders and go live on a desert island away from crazy people ;-)
I'm in! Already have a house in the Philippines On the water to boot! My own little island!

neilsdigest Jul 31, 2019 3:48pm | Post# 2356

{quote} I'm in! Already have a house in the Philippines On the water to boot! My own little island!
Oh perfect... Enjoy life and enjoy your little island.. Sounds perfect ;-)

hanover Jul 31, 2019 3:49pm | Post# 2357

1 Attachment(s)
3) An RSI typically won’t go over 100 / below 0 in a short term trend reversal
If RSI is calculated using its usual formula (shown in the link), it's impossible for it to ever go over 100 or below 0. Just saying.
http://cns.bu.edu/~gsc/CN710/fincast...ex%20(RSI).htm
[NOTE: the link is provided merely for the RSI calculation formula, I'm not endorsing StockCharts or any products it might be selling]
_______________________

@nobody_in_particular:

I've enhanced the Signal indicator that I shared in post# 2312. The latest version is attached below.

There is a new parameter: PipEquivelent
 If you leave this as the default value (*1), the indy works as before. *1 means "1 ADR".
 If your entry in AmountToRisk is 2%, and you enter only a number in PipEquivalent, e.g. 30, then the number of lots will be calculated so that 2% of your account equity equates to 30 pips, rounded down to the nearest 0.01 lots.
 If you enter a number with an asterisk (e.g. *0.5 or 0.5*), then the number of lots will be calculated so that 2% of your account equity equates to 0.5 ADRs, rounded down to the nearest 0.01 lots.

The calculation for determining lot size is:
Amount_To_Risk / ($_per_pip x number_of_pips) rounded down to the nearest 0.01 lots,
where
 number_of_pips can be a number of ADRs, if so it is multiplied by the ADR to convert it to pips
 The amount to risk can be expressed as a %, in which case Amount_To_Risk = %_to_risk x Account_Equity|Balance|FreeMargin / 100
Signal.ex4

Neogenesis Jul 31, 2019 4:01pm | Post# 2358

Ah - I’ve seen many RSIs that hit 100 at least and keep going.

My point anyhow was that retracements / bull&bear traps never tend to exhaust or over extend by substantially breaking lines of ‘support and resistance’. They’re breathing points for trend continuation.

I’ll close out if: a few lines are broken, the RSI is overextended, price is more than 2ATR or substantially away from its monthly mean.

Although with that said, if you’re not in a position and you see price deviating as above with retail calling the opposite side then naturally you’re getting great R/R. I think this is where linebreaks will be good for some, as you’ll see the difference easier between a retracement and material trend change.

neilsdigest Jul 31, 2019 4:35pm | Post# 2359

I really value your contributions here Hanover. You have a lot of respect on this forum.

Lets see what London brings tomorrow. How will they react.

But right now I need a drink.

fxbarwise Jul 31, 2019 4:46pm | Post# 2360

1 Attachment(s)
{quote} Just tested it for you.. Yes same.. The font size doesnt change.. Shall we ban him lmao
Small glitch people, should be fine now...thanks for spotting the gremlin.
TrendStrength - RSI.ex4


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