Attachments: Basket Knights - A Basket Trading Round Table

Basket Knights - A Basket Trading Round Table

#841
Nov 17, 2019 9:36pm Nov 17, 2019 9:36pm

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Via mobile now...

I was going to respond to all the other contributors but my power's been disrupted and it's too late in the night (i.e. early in the morning, for those in my timezone) to begin generating unnecessary noise. While I am awake, others around here have been asleep for hours (It's 04:36am!) Lol...

I'll respond in the AM (much later in the AM, that is). Off to bed.

Thanks to all the contributors, I've learnt a lot.

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#842
Nov 18, 2019 3:49am Nov 18, 2019 3:49am

LifeHunt3r
Joined Nov 2016 | Status: Trader | 233 Posts

I've searched far and wide for the possibility of offline charts where pairs can be inverted to create an index. There are some EA'a available that are unfortunately heavy on computer resources and then there are some commercial stuff available which I don't want to mention here.

What I use for my "INDEXES" is this simple little indicator. Attach it to any normal chart (not offline) and select your pairs (direction with +/-, and weight). What I like about it is that you can quickly jump between TF's to get the bigger picture. For ease, I'm also attaching my preset files for the various "indexes" and C5/8/14.

Attached Image (click to enlarge)

Click to Enlarge

Name: BasketChart_USD.png
Size: 29 KB

Attached Image (click to enlarge)

Click to Enlarge

Name: BasketChart_JPY.png
Size: 35 KB

Attached File(s)

BasketChart2.mq4 17 KB | 503 downloads

Attached File(s)

BasketChart Presets.zip 4 KB | 449 downloads

For those interested in using EAX to manage their baskets in the future, I'll be attaching an image here and there of how I use it to trade. Here is EAX at work with a C8 trade I took around London Open this morning.

Attached Image (click to enlarge)

Click to Enlarge

Name: EAX_C8.png
Size: 95 KB

Hope you all have a good week!

Cheers

Lee

Fix your thoughts on what is true, and honorable, and right, and pure...

#843
Nov 18, 2019 5:11am Nov 18, 2019 5:11am

robots4me
Joined Dec 2017 | Status: Trader | 4,378 Posts

Quoting LifeHunt3r

Disliked

I've searched far and wide for the possibility of offline charts where pairs can be inverted to create an index. There are some EA'a available that are unfortunately heavy on computer resources and then there are some commercial stuff available which I don't want to mention here. What I use for my "INDEXES" is this simple little indicator. Attach it to any normal chart (not offline) and select your pairs (direction with +/-, and weight). What I like about it is that you can quickly jump between TF's to get the bigger picture. For ease, I'm also...

Ignored

@LifeHunt3r -- your BasketChart2 indicator is much too cool. Plus -- you provided the source code -- amazing...

Its one drawback -- "virtual" bars are drawn in a subwindow, so you can't attach additional indicators. But, given the source code it can still be extended to include other indicators besides the built-in HA.

Checkout the screenshot below. The upper chart is the RB7 Index offline chart that @bishopdotun and I are experimenting with (essentially no GBP or CHF), and the lower chart is @LifeHun3r's BasketChart2 indicator with the same 7 (normalized) pairs. The two charts are identical -- which I would have expected but am still pleasantly surprised to see considering they were created by two completely different methods.

Attached Image (click to enlarge)

Click to Enlarge

Name: basketchart2-vs-RB7.png
Size: 71 KB

Offline charts are notoriously CPU-intensive, so to be able to create an Index using an indicator such as BasketChart2 opens up some interesting possibilities and new ways to experiment.

Thank you @LifeHunt3r for sharing this -- I'm going to enjoy experimenting with it.

#844
Edited 10:06am Nov 18, 2019 5:13am | Edited 10:06am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

C5 H4 (TD28,3) is now signaling a Buy basket.

Attached Image (click to enlarge)

Click to Enlarge

Name: 00w14a1a_#TyC5#05H4.png
Size: 58 KB

As I mentioned previously, the basket has been caught in a range now for about a month.

My gameplan remains the same:
#1. Trade DCs (in this case, Buy lower and sell higher).
#2. Trade breakouts (if any)...This, just in case the range is broken with fundamental support.

Regards and Stay fluid,

Ty

*Edited: Error in Tidane Settings.

My job: I speculate and manage risk.

#845
Nov 18, 2019 5:16am Nov 18, 2019 5:16am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Quoting robots4me

Disliked

{quote} @LifeHunt3r -- your BasketChart2 indicator is much too cool. Plus -- you provided the source code -- amazing... Its one drawback -- "virtual" bars are drawn in a subwindow, so you can't attach additional indicators. But, given the source code it can still be extended to include other indicators besides the built-in HA. Checkout the screenshot below. The upper chart is the RB7 Index offline chart that @bishopdotun and I are experimenting with (essentially no GBP or CHF), and the lower chart is @LifeHun3r's BasketChart2 indicator with...

Ignored

...and as you can rightly see @robots4me, there is ALWAYS room for improvement!

You are welcome (lol...)

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#846
Nov 18, 2019 5:38am Nov 18, 2019 5:38am

LifeHunt3r
Joined Nov 2016 | Status: Trader | 233 Posts

Quoting robots4me

Disliked

Thank you @LifeHunt3r for sharing this -- I'm going to enjoy experimenting with it.

Ignored

It's a pleasure!

And I can agree with you regarding the accuracy, because I've been staring at that little indi for a long time! Its potential is endless. If I was a coder, I would have used that indi to automate my basket trades together with EAX by using it as a Plug-in (PIN). I've been trying for ever to get the guys from EAX involved in basket trading!

Enjoy!

Lee

Fix your thoughts on what is true, and honorable, and right, and pure...

#847
Nov 18, 2019 5:48am Nov 18, 2019 5:48am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Quoting robots4me

Disliked

{quote} Hello @TyLamai... {quote} Can it be done? Yes -- I suppose so... Does it make sense to do this? From the way I'm approaching your trading system -- I'd say 'no'. And here are a few of my reasons... 1. First -- some terminology. Index are the pairs that are used to generate the offline chart -- i.e. the virtual currency. For example, C5 is an index. The Index is also the virtual currency because you are trading its bars. The bars belong to a currency -- EURUSD, GBPJPY or an Index (as in basket trading). Basket is the pairs that are actually...

Ignored

I think I read further below your post (in another post of yours) where you corrected yourself...? Can't be sure.

Anyways, here's my take on Indexes and Baskets: These terms are usually interchangeable.

*An Index is loosely described (in layman's terms) as the merging of the prices of two or more currency pairs to create one offline chart (correlated or not). Examples include the: C5 (correlated), C14 (not exactly correlated), the recent Commodity Index submitted by @BD (not correlated) etc.

*A basket is loosely defined (in layman's terms) as trading two or more currency pairs simultaneously (correlated or not). Examples include: Opening a basket including AUDCHF and EURGBP based off of a freaky, spaced-out, offline chart (a.k.a. Index) containing those two currency pairs (OR NOT!). For example I can trade a basket including EURCHF and GBPCHF off of a signal generated by the C5 Index which DOESN'T include either of these currency pairs...In this case, I would be trading a basket of two currency pairs based off of an Index (offline chart) which DOESN'T include either pair with the understanding that that index (C5) contains enough pairs within it (correlated enough with the EF and GF) to satisfy my decision to use it as a signal source to trade the EF and GF pairs.

Nevertheless...to keep it as neat as possible, specific, well-defined and identifiable Basket Indexes (offline charts), were created: C3 (Amigos), C5, C10, C12, C12-2, C14 and recently RB7, C8, CXS, and the list goes on and on.

I can say one thing though: There are, and will always be, as many Basket variations (offline Indexes) as there are Basketters.

That said, here's MY AIM: to leave as LITTLE money as possible on the table. If this includes decimating and/or cannibalizing the Indexes and Baskets and Offline Charts, etc, as we know them to be now, then I'm game!...My motives are not as a result of boredom or any failure of the strategy as it is.

I like neat definitions, I'm choleric.
But I ALSO love out-of-the-box chaotic experimentation too...guess that makes me psychotic...?

Anyway, thank you as usual for engaging in the discussion and helping to make this system more than it already is. Thank you!

And...by the way, no horse back riding for me (I'll sooner ride a MAD Zebra (that's tautology right there!)) nor Bungee jumping (those guys are INSANE!). I might take up Hula hoop twirling though...I hear it's as dizzying as watching Price do its thing on the charts!

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#848
Nov 18, 2019 5:49am Nov 18, 2019 5:49am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Quoting LifeHunt3r

Disliked

{quote} It's a pleasure! And I can agree with you regarding the accuracy, because I've been staring at that little indi for a long time! Its potential is endless. If I was a coder, I would have used that indi to automate my basket trades together with EAX by using it as a Plug-in (PIN). I've been trying for ever to get the guys from EAX involved in basket trading! Enjoy! Lee

Ignored

I like the way your mind operates...keep talking!

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#849
Nov 18, 2019 5:54am Nov 18, 2019 5:54am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Quoting robots4me

Disliked

@TyLamai --...The current system as described in this thread works excellent.

Ignored

Yes it does nevertheless there is room for improvement without necessarily changing what we do here (IMHO).

Sorry that I am harping on on this point but I do not want to be misunderstood. I'm NOT looking to change the system, I'm forever seeking ways to make it MORE efficient.

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#850
Nov 18, 2019 6:01am Nov 18, 2019 6:01am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Quoting fmsfx

Disliked

Attention @robots4me and all other coders in the house... NOW...(in my mind, and I might be DEAD wrong), the MOST efficient way to get a "true" reflection of a Currency's basket strength/weakness, it to neatly "arrange" the pairs in such a way that the quotes will be where they are meant to be. - Can this be done? - Does it make sense to do this? Khalil has done something to this effect. https://www.forexfactory.com/showthread.php?t=529896 I personally rarely trade the index pairs but when I do I always just flip a couple of pairs. This...

Ignored

Hiya Dave,

Thank you for the resource. This is another one I used years ago. Khalil (@abokwaik) and I go way back...Cool coder too.

I'm not really looking to trade a single Currency Index (e.g. NZD against the rest), I'm more interested in aligning any Index of my choice so that the resulting signal can show a "true" reflection of its direction.

E.g. AUDNZD + NZDCAD + NZDCHF = will reflect a "Distorted" Buy/Sell signal (in my mind)
Whereas NZDAUD (*flipped the "right" way) + NZDCAD + NZDCHF = will give an "Arranged" one.

*By the way...You gat mail!

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#851
Nov 18, 2019 6:04am Nov 18, 2019 6:04am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Quoting Blaiserboy

Disliked

I use this to keep an eye on the different groupings {image}

Ignored

Thank you for your input!

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#852
Nov 18, 2019 6:05am Nov 18, 2019 6:05am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Quoting Blaiserboy

Disliked

this one can be configured in several ways {image}

Ignored

Another great Coder @FerruFx.

Thanks.

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#853
Nov 18, 2019 6:07am Nov 18, 2019 6:07am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Quoting robots4me

Disliked

To clarify what I had posted above... Index -- these are the pairs used by the basket creator indicator to create the offline chart. You attach the Tidane indicator to the resulting offline chart and look for transition signals. Basket -- these are the pairs that you actually trade -- that is, the pairs that you open a position when you see a transition signal. The Index and Basket can be different -- and often are. Furthermore, when you "open" a Basket that doesn't necessarily mean you trade all the pairs in the basket in the same direction. Based...

Ignored

Thumbs up! I agree.

I knew I read your update somewhere last night.

Thanks!

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#854
Nov 18, 2019 6:10am Nov 18, 2019 6:10am

TyLamai
Joined Feb 2013 | Status: Not till I'm done... | 1,663 Posts

Quoting LifeHunt3r

Disliked

...For those interested in using EAX to manage their baskets in the future, I'll be attaching an image here and there of how I use it to trade. Here is EAX at work with a C8 trade I took around London Open this morning. {image} Hope you all have a good week! Cheers Lee

Ignored

Looking really delicious Lee!...I might just call on you to pick that brain of yours.

Regards and Stay fluid,

Ty

My job: I speculate and manage risk.

#855
Nov 18, 2019 6:28am Nov 18, 2019 6:28am

mixedbags
Joined Apr 2019 | Status: Trader | 808 Posts

Quoting LifeHunt3r

Disliked

I've searched far and wide for the possibility of offline charts where pairs can be inverted to create an index. There are some EA'a available that are unfortunately heavy on computer resources and then there are some commercial stuff available which I don't want to mention here. What I use for my "INDEXES" is this simple little indicator. Attach it to any normal chart (not offline) and select your pairs (direction with +/-, and weight). What I like about it is that you can quickly jump between TF's to get the bigger picture. For ease, I'm also...

Ignored

This is an amazing indicator, thank you
It tracks EURNZD and EURAUD correlation perfectly.

#856
Nov 18, 2019 8:47am Nov 18, 2019 8:47am

fmsfx
Joined Jul 2009 | Status: Trader | 298 Posts

Quoting LifeHunt3r

Disliked

I've searched far and wide for the possibility of offline charts where pairs can be inverted to create an index. There are some EA'a available that are unfortunately heavy on computer resources and then there are some commercial stuff available which I don't want to mention here. What I use for my "INDEXES" is this simple little indicator. Attach it to any normal chart (not offline) and select your pairs (direction with +/-, and weight). What I like about it is that you can quickly jump between TF's to get the bigger picture. For ease, I'm also...

Ignored

Very nice Lee...**plus source code** which these days is a rarity in this forum. At least by posting the code repairs can be done if needed over time unlike the typical ex4 uploads you see.

Dave

K.I.S.S.

#857
Nov 18, 2019 9:16am Nov 18, 2019 9:16am

aaven
Joined Jul 2015 | Status: Trader | 2,299 Posts

Quoting LifeHunt3r

Disliked

I've searched far and wide for the possibility of offline charts where pairs can be inverted to create an index. There are some EA'a available that are unfortunately heavy on computer resources and then there are some commercial stuff available which I don't want to mention here. What I use for my "INDEXES" is this simple little indicator. Attach it to any normal chart (not offline) and select your pairs (direction with +/-, and weight). What I like about it is that you can quickly jump between TF's to get the bigger picture. For ease, I'm also...

Ignored

Thank you Lee- that's a great tool you have given...

#858
Nov 18, 2019 9:21am Nov 18, 2019 9:21am

aaven
Joined Jul 2015 | Status: Trader | 2,299 Posts

Quoting TyLamai

Disliked

{quote} Hiya Dave, Thank you for the resource. This is another one I used years ago. Khalil (@abokwaik) and I go way back...Cool coder too. I'm not really looking to trade a single Currency Index (e.g. NZD against the rest), I'm more interested in aligning any Index of my choice so that the resulting signal can show a "true" reflection of its direction. E.g. AUDNZD + NZDCAD + NZDCHF = will reflect a "Distorted" Buy/Sell signal (in my mind) Whereas NZDAUD (*flipped the "right" way) + NZDCAD + NZDCHF = will give an "Arranged" one. *By the way...You...

Ignored

Ty,

I am not speaking on behalf of Steve. From what i know of Steve, more than trading, solving a problem methodically is his forte. If there is something specific on your mind, i feel you let him know.

Thanks

#859
Nov 18, 2019 9:50am Nov 18, 2019 9:50am