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Recent Strength indicator

Quoting hanover
Pedma,

I have sorted the currencies from highest to lowest in the new version of the indy (attached). I have included comments in the code, so you can follow how I've done it.

The trick is as follows: you create a string array, where each element contains all of the items that you want sorted, in order of priority. Numeric values can be formatted using my NumberToStr() function. For example, the elements of the array might look like this:
Inserted Code
 3.1 USD
 7.3 EUR
 4.4 GBP
 3.1 CHF
 5.6 CAD
 2.7 AUD
 5.3 JPY
 4.4 NZD
The strength...
Hi David,

You're really a great coder & teacher. Thank you very much.
Just to make sure: The indicator takes the value of DAILY recent strength, but show the value to chart in some minutes (variable : RefreshEveryXMins ). Is that right ?

Thanks a lot David.
Best Regards,
-pedma-
Good friends are more valuable than gold ...
  • Post #382
  • Quote
  • Edited 12:54pm Nov 11, 2011 12:43pm | Edited 12:54pm
Quoting pedma
Hi David,

You're really a great coder & teacher. Thank you very much.
Just to make sure: The indicator takes the value of DAILY recent strength, but show the value to chart in some minutes (variable : RefreshEveryXMins ). Is that right ?

Thanks a lot David.
Best Regards,
-pedma-
Pedma,

Yes, the values reflect how far (up/down) price has moved** on each of the charts since the start of the current day (midnight MT4 time). This is a weighted average of all of the pairs for that currency, e.g. for USD it would be the average of USDCHF, USDJPY, AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD. At midnight, the previous day is forgotten, and the averaging process starts all over again for the new day.

**
1. the formula is (B-L)/(H-L)
where B = current bid price
H = today's high (thus far)
L = today's low (thus far)
2. The result from step 1 resolves itself into a value between 0 and 1 which is then re-scaled into a value between 1 and 9.
3. If the currency is YYY, then any pairs XXXYYY then the value in step 2 is subtracted from 9. Whereas if the pair is YYYXXX, the value in step 2 is left unchanged.
4. The average of all the pairs from step 3 then becomes the displayed value for each currency.

RefreshEveryXMins determines how often the values are recalculated and displayed.

If 0 --- the values are recalculated and displayed every new tick.

If 1 --- the values arerecalculated and displayed every time a new candle starts to form on the M1 chart. If the indy is attached to (e.g.) USDCHF, then this means a USDCHF,M1 chart.

If 5,15,30,60 or 240 --- the values are recalculated and displayed every time a new candle starts to form on the M5,M15,M30,H1 or H4 chart. same logic as before.

David
Hi David,

First of all thank you so much for your indicator, and also for the LoadRSvalues() function and all of the support information! It is extremely generous of you to share so much.

I made a custom indicator which uses the LoadRSvalues() function, and it seems to be displaying the correct value based on the info in the RSV file, but the data in the RSV doesn't seem to be updating. The indicator seems to be updating, but the info in the RSV doesn't match.

I am using the default Presets---Recent Strength for the presets and Output---Recent Strength for the output, also I used your Build preset script with Output set to True to make the file in the first place.

Do you have any tips on what I might be doing wrong?

Thanks again,

Cory
Quoting hanover
Pedma,

Yes, the values reflect how far (up/down) price has moved** on each of the charts since the start of the current day (midnight MT4 time). This is a weighted average of all of the pairs for that currency, e.g. for USD it would be the average of USDCHF, USDJPY, AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD. At midnight, the previous day is forgotten, and the averaging process starts all over again for the new day.

**
1. the formula is (B-L)/(H-L)
where B = current bid price
H = today's high (thus far)
L = today's low (thus far)
2. The result...
Hi David,

Thank you so much ............. All is clear & i learn so much from you.

Best Regards,
-pedma-
Good friends are more valuable than gold ...
Quoting Cbh123
Hi David,

First of all thank you so much for your indicator, and also for the LoadRSvalues() function and all of the support information! It is extremely generous of you to share so much.

I made a custom indicator which uses the LoadRSvalues() function, and it seems to be displaying the correct value based on the info in the RSV file, but the data in the RSV doesn't seem to be updating. The indicator seems to be updating, but the info in the RSV doesn't match.

I am using the default Presets---Recent Strength for the presets and Output---Recent...
Hi Cory,

I'm not a good programmer, but I think you must take the value from CSV file ....../experts/files/Output---Recent Strength.CSV file. This file is controllered by ..../experts/indicators/Recent Strength.ex4 file. Recent Strength.ex4 file put the output value to "Output---Recent Strength.CSV" file depend on ..../expert/files/Presets---Recent Strength.TXT which is created by .../experts/scripts/Build Strength Preset File.ex4 file. This script "Build Strenth Preset File.ex4" file is run only ONCE !! at the first time only. All you must do then is to change the TXT file, so the indicator "Recent Strength.ex4" can put the new value depend on your needs, after reading the TXT file.

All of this if very good for EA application. But I think you must use the edited "Recent Strength Graia" by David, to make your own Indicator.
This is only my opinion ...

Thanks David for all he has done.

Thanks
-pedma-
Good friends are more valuable than gold ...
Quoting pedma
Hi Cory,

I'm not a good programmer, but I think you must take the value from CSV file [b]

Thanks
-pedma-
Thank you Pedma, actually my problem isn't getting the indicators to work, but somehow the CSV file doesn't seem to be updating when I run my custom indicator. The indicator seems to be getting the right numbers from the CSV, but for some reason the CSV file stops updating once I access it. Even though it used to update properly I thought.

Thanks for your help, and thanks again to David.

Cory
Quoting Cbh123
Hi David,

First of all thank you so much for your indicator, and also for the LoadRSvalues() function and all of the support information! It is extremely generous of you to share so much.

I made a custom indicator which uses the LoadRSvalues() function, and it seems to be displaying the correct value based on the info in the RSV file, but the data in the RSV doesn't seem to be updating. The indicator seems to be updating, but the info in the RSV doesn't match.

I am using the default Presets---Recent Strength for the presets and Output---Recent...
Cory,

This could be a Win7/Vista problem - if so, it is outside of my control to fix it. This link may be helpful. After that, all I can suggest is that you contact either Microsoft or your computer vendor.

What br0ker, and what MT4 build are you running?

David
Quoting hanover
Cory,

This could be a Win7/Vista problem - if so, it is outside of my control to fix it. This link may be helpful. After that, all I can suggest is that you contact either Microsoft or your computer vendor.

What br0ker, and what MT4 build are you running?

David
Thanks, I allowed the permissions so we'll see how it does when I try it tomorrow! I am running IBFX version Build 402 at the moment.

Thanks again and I'll let you know if I run into any problems now that I allowed all the permissions on the folder.

Cory
Seems to work now, thanks! I really appreciate your help.

Cory
Quoting Cbh123
Seems to work now, thanks! I really appreciate your help.

Cory
Excellent, Cory --- glad to hear that it is working for you now.

David
Quoting hanover
Pedma,

Yes, the values reflect how far (up/down) price has moved** on each of the charts since the start of the current day (midnight MT4 time). This is a weighted average of all of the pairs for that currency, e.g. for USD it would be the average of USDCHF, USDJPY, AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD. At midnight, the previous day is forgotten, and the averaging process starts all over again for the new day.

**
1. the formula is (B-L)/(H-L)
where B = current bid price
H = today's high (thus far)
L = today's low (thus far)
2....
Thank you hanover for the great indicators. I am using Currency Strength - Giraia.mq4 with great success. Will be good if new Calculation starts of each new H1 candle.
david thank you for all wonderful indicators.
I added all pairs to the indicator (28) but it show less 3 pairs.

xtern string CurrencyPairs = "EU,GU,UF,AU,NU,UJ,UC,EG,EF,EA,EN,EJ,EC,GF,GA,GN,GJ,GC,AF,NF,FJ,CF,AN,AJ,AC,NJ,NC,CJ";

You can see pic, it is something i do wrong?

Appreciate your work.

FxHope
Attached Image
Quoting gio.kele
Thank you hanover for the great indicators. I am using Currency Strength - Giraia.mq4 with great success. Will be good if new Calculation starts of each new H1 candle.
Try the attached indy. Set TimeFrame to H1

The attached indy has two new parameters:

(1) TimeFrame: you can have the calculation start over every time a new candle appears on the TF that you select, i.e. M1, M5, M15, M30, H1, H4, D1, W1 or MN. Or if you leave the field blank, it will default to the TF on the chart to which the indy is posted (this makes it possible to cycle thru different chart TFs, and see the relative strength in each TF).

(2) CurrencySuffix: your entry will be appended to each currency. For example, if you set CurrencySuffix to m, then the pairs included in the calculation will be EURUSDm, GBPUSDm, USDJPYm, etc.

I haven't had a chance to do any testing because the market is closed.

David
Attached File(s)
File Type: mq4 Currency Strength - Giraia.mq4   98 KB | 3,891 downloads
Quoting FxHope
david thank you for all wonderful indicators.
I added all pairs to the indicator (28) but it show less 3 pairs.

xtern string CurrencyPairs = "EU,GU,UF,AU,NU,UJ,UC,EG,EF,EA,EN,EJ,EC,GF,GA,GN,GJ,GC,AF,NF,FJ,CF,AN,AJ,AC,NJ,NC,CJ";

You can see pic, it is something i do wrong?

Appreciate your work.

FxHope
FxHope,

Your screenshot suggests that your br0ker doesn't offer the pairs NZDCAD, CADCHF and NZDCHF. Data can't be gathered from pairs that are not available.

David
Quoting hanover
Try the attached indy. Set TimeFrame to H1

The attached indy has two new parameters:

(1) TimeFrame: you can have the calculation start over every time a new candle appears on the TF that you select, i.e. M1, M5, M15, M30, H1, H4, D1, W1 or MN.

(2) CurrencySuffix: your entry will be appended to each currency. For example, if you set CurrencySuffix to m, then the pairs included in the calculation will be EURUSDm, GBPUSDm, USDJPYm, etc.

[b]I haven't had a chance to do any testing because the market is closed....
Thanks a lot David.
Quoting hanover
FxHope,

Your screenshot suggests that your br0ker doesn't offer the pairs NZDCAD, CADCHF and NZDCHF. Data can't be gathered from pairs that are not available.

David
They are available. I opem the charts. you can see tham
FxHope

Edit In the new indicatore all pairs appear
THANK YOU
Attached Images
Quoting FxHope
Edit In the new indicatore all pairs appear
THANK YOU
Glad that it's working for you now.
  • Post #398
  • Quote
  • Edited Nov 30, 2011 12:13am Nov 29, 2011 7:18pm | Edited Nov 30, 2011 12:13am
CSM (currency strength meter) is a histogram-based version of the 'Currency Strength - Giraia' indy. Download into the ...../experts/indicators folder, and restart MT4.

You will also need to install the 'Placard MT Condensed' font (included in the attached ZIP file), if you don't already have it.

The parameters work as follows:

Currency Pairs - lists all 28 possible cross-products of AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD. If your br0ker doesn't offer one of the pairs, there's no problem, as the indy will simply ignore it. If you want to give certain pairs additional weighting, enter them 2, 3, 4, ..... etc times each; yiou can have up to a total of 99 entries.

CurrencySuffix - your entry will be appended to each currency. For example, if you set CurrencySuffix to m, then the pairs included in the calculation will be EURUSDm, GBPUSDm, USDJPYm, etc.

TimeFrames - select the timeframes whose histograms you wish to view. Items must be valid MT4 timeframe tokens, separated by commas.

NumberOfCandles - the basis for the calculation is as follows:
(current bid price – lowest low) / (highest high – lowest low)
where you're specifying the number of candles across which the highest high and lowest low will be used. An entry of 1 denotes use of the currently forming candle only; an entry of 2 includes the prior candle also; and so forth. If you set NumberOfCandles to 1, you should get the same values as the 'Currency Strength - Giraia' indy.

Sort Method - can be any one of:

 

  1. A (ascending) - currency histograms will be shown from lowest (weakest currency) to highest (strongest currency)
  2. D (descending) - currency histograms will be shown from highest to lowest
  3. If left blank, no sorting will be performed (currencies will be shown in alphabetical order

FontName / FontSize - if you alter these, you'll likely need to alter the spacing parameters also.

HorizPos / Vert Pos / Horiz Spacing - these control the start position of, and the spacing between, the histogram bars.

Color_XXX - controls the color of the histogram bars.

TextFont / TextSize / TextColor - these control the font, size and color of text that's displayed.

RefreshEveryXMins - if set to 0, the histograms refresh with every tick (warning: this could slow computer performance). If set to 1, 5, 15, etc, then they will refresh whenever a new M1, M5, M15 etc candle starts to form.

There may be a lengthy wait when you first attach the indicator to a MT4 chart, especially if you choose to display a large number of timeframes.

Enjoy,
David

Attached Image (click to enlarge)
Click to Enlarge Name: 2011-11-30_1321.jpg Size: 122 KB
Attached File(s)
File Type: zip CSM.ZIP   47 KB | 4,606 downloads
Quoting hanover
CSM (currency strength meter) is a histogram-based version of the 'Currency Strength - Giraia' indy. Download into the ...../experts/indicators folder, and restart MT4.

You will also need to install the 'Placard MT Condensed' font (included in the attached ZIP file), if you don't already have it.

The parameters work as follows:

Currency Pairs - lists all 28 possible cross-products of AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD. If your br0ker doesn't...
Hi,

Is it possible for the indicator to load onto the right hand side of the chart (something like stratman minicharts) instead of into a new window?
Quoting sargedessy
Hi,

Is it possible for the indicator to load onto the right hand side of the chart (something like stratman minicharts) instead of into a new window?
No, sorry, this is not currently possible.

I am not familiar with stratman minicharts.
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