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Basket Knights - A Basket Trading Round Table

  • #881
  • Nov 19, 2019 4:12am Nov 19, 2019 4:12am
Quoting mixedbags
{quote} yes. Also I'm studying the use of volume, some threads talk about it, quiet interesting. {image}
Mixed Bags,

Would it be a problem to share the indi's and template.. I am unable to use other indicators on the Basket Chart created by the indicator {which was uploaded yesterday}.

I really want to explore more.

Thanks
  • #882
  • Nov 19, 2019 6:11am Nov 19, 2019 6:11am
Quoting MrAlex
{quote} Hello, you have blue and red squares on you chart. What is the purpose of this? Thank you. Alex P.S. Sorry, english is not my native language. ))
Pip thresholds I believe.

Dave
K.I.S.S.
  • #883
  • Nov 19, 2019 6:33am Nov 19, 2019 6:33am
Okay, one last gem before I get kicked off here for clogging the thread with indicators.

It's called ATRDashboard and it gives you the ATR position of your selected basket pairs all in the same window.

No more guessing if your basket pairs are in sync and in which direction you should trade this week/day.

It's pretty self-explanatory apart from the alert. The alert is hard-coded. Within my (modified) settings, the rangePercentage is set to 1000 because I don't want alerts (don't know how to code an alerts option true/false). . Example: If you want an alert when your pair hits 50% ATR, make rangePercentage = 50. Since you clever coders now have the code, maybe you can modify it for us to (1) calculate a combined ATR for the Basket as a whole and (2) give an alert when the basket hits an ATR of X%. Just a thought...

Cheers & enjoy.

Lee

Attached Image (click to enlarge)
Click to Enlarge Name: ATRDashboard.png Size: 26 KB


Attached File(s)
File Type: mq4 ATRDashboard-1.0 with alerts.mq4   45 KB | 311 downloads
Fix your thoughts on what is true, and honorable, and right, and pure...
  • #884
  • Nov 19, 2019 3:36pm Nov 19, 2019 3:36pm
*Better late than never (I was otherwise engaged!)

Fundies: Truths and Rumours.


"Dollar Slips Further on Trump Worries

The US dollar started this new trading week on its back foot, weakening against all of the major currencies. In our note on Friday, we talked about the possibility of further losses for the greenback but we did not expect it to happen so quickly. Investors are worried about President Trump's policies following reports that China is pessimistic about trade talks. The President also held a meeting with Fed Chairman Powell after which he expressed satisfaction with their discussion on everything from interest rates, negative rates, easing and dollar strength.

Although we are highly skeptical of Trump's ability to influence Fed policy, the shift away from his usually critical tone suggests that Powell reassured him that policy would remain accommodative, which is negative for the currency. Of course this is also consistent with the central bank's concerns about risks and their overall view that low interest rates are here to stay. Reports that China isn't happy with trade negotiations are probably valid - they are distracted with domestic problems (HK, growth, the latest release of documents relating to the lockup of Uigher Muslims) and will most likely wait out US impeachment hearings and perhaps even the November election. Human rights concerns could give the Trump administration stronger reasons to maintain their tough stance on China. In reaction, the US dollar sold off with the Australian and New Zealand dollars trailing not far behind. However by the end of the NY session, recoveries were seen in all of the major currencies as investors realize that not much has changed. The Fed maintains the same policy and trade uncertainties persists.

With that said, we continue to look for USD/JPY to extend lower and the Australian dollar to underperform. The minutes from the last Reserve Bank of Australia meeting are scheduled for release this evening and the central bank is widely expected to maintain their dovish outlook. The New Zealand dollar on the other hand should outperform as data validates the central bank's decision to keep interest rates on hold. Service sector activity accelerated in the month of October, mirroring the improvement in manufacturing. Producer prices are scheduled for release later today and we expect the uptick in consumer prices to carry over to PPI.

The best performing currencies today were sterling and euro. No economic reports were released from either country but the first televised debate is tomorrow and Boris Johnson's party is well ahead of Labour. The market also likes that he is talking about tax relief and increased spending. Euro is one of our favorite currencies this week - there are no major economic reports until Friday when ECB President Lagarde speaks so for the time being it is enjoying the residual impact of last week's better than expected GDP report.

We also like the Canadian dollar which is setting up for recovery. After rallying for 2 weeks straight, the stability in oil prices and sell-off in the US dollar led the pair to find resistance at the 200-day SMA. This week Canadian CPI and retail sales are scheduled for release. There will also be speeches from Bank of Canada Governor Poloz and Deputy Governor Wilkins. Poloz spoke earlier this week and he did not say much about the economy or monetary policy outside of a comment that wage inflation is now above 4% by most measures and that the labor market is telling us more than GDP data." - Kathy Lien, BK Asset Management


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #885
  • Nov 19, 2019 3:42pm Nov 19, 2019 3:42pm
Fundies: Truths and Rumours.


"Risk Continues to Roll

FX was generally quiet in Asian and European session trade today with most of the pairs contained to narrow ranges as low volatility conditions persisted.

In Australia, the release of the RBA minutes caused a flutter in Aussie as the text came in dovish with monetary authorities agreeing that a 'case could be made' for a rate cut at the November meeting. This was prior to the poor employment data which only added to the argument for easing. However, the RBA is also clearly concerned with the limits of lower bound and some analysts do not think the central bank will ease until February, preferring to keep its policy options flexible to maintain maximum impact.

After spending most of Asia under the .6800 figure, Aussie rebounded and traded higher with the rest of the risk complex as US Stock index futures made fresh highs. Despite numerous hot spots around the world, slowing growth globally and mediocre consumer demand and wage growth capital markets continue to rally on the prospect of easy money from G-3 central banks.

It's impossible to know how long this dynamic will last but for now, the path of least resistance for risk assets is up and that suggests that USDJPY could make another run for the 109.00 figure as the day proceeds." - Boris Schlossberg, BK Asset Management


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #886
  • Nov 19, 2019 3:48pm Nov 19, 2019 3:48pm
Quoting LifeHunt3r
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...
After further reacquainting, this solves my desire for a realigned index.

Again: Thank you for sharing LifeHunt3r.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #887
  • Nov 20, 2019 5:08am Nov 20, 2019 5:08am
I've made a modification to the BasketChart2 indicator that @LifeHunt3r shared a few posts back -- again, thank you @LifeHunt3r. Here's a link to the modified indicator:
Attached File(s)
File Type: ex4 R4M-BasketChart2.ex4   43 KB | 306 downloads


There are three main changes:
1. The index's OHLC bars and Smoothed Heiken Ashi are drawn in the main window.
2. I've simplified the input settings and only expose the 'Pairs' setting.
3. I've modified the settings for the Smoothed Heiken Ashi so that it now closely mirrors Tidane 20/2. It would be too much work to substitute the built-in Smoothed HA with Tidane, so I instead made the Smoothed HA roughly mirror the Tidane 20/2.

NOTE: The indicator is very CPU intensive. So, I recommend not using more than 7 pairs for the Index. If you are trading the C14 basket it is okay to use C5 as the index. A C5 index looks very similar to a C14 index. And, to be clear, your basket could still be composed of C14 pairs even when the index is C5, right? Right...

I trade the RB7 index and RB15 basket. I've divided the RB15 basket into two groups of pairs -- Group A consists of pairs that will trade in the same direction as the trend (i.e. Tidane 28/3 or 20/2), and Group B consists of pairs that will trade in the opposite direction. I won't go into how I created Groups A and B, other than to say it took some thought. Once a pair gets added to Group A or B it is there for life -- no changes. During a basket's lifetime the market will change and there will be times that a pair may appear to belong in the other group -- but that is only temporary. The degree of correlation between pairs changes with time -- as the market changes. I prefer to basket trade from 30000 feet and, so, I'm not looking to fiddle with positions after a basket has opened. That's just my preference -- to ride a basket from signal-to-signal (with perhaps a few re-entries or DCs included along the way).

So -- what's important to me is to confirm that I've properly assigned pairs to Group A or Group B. And I'm finding the BasketChart2 indicator very helpful. For example, checkout the screenshot below. Here I've overlaid RB7 on top of EURJPY. You can see that RB7 tracks closely with EJ and, so, EJ gets assigned to Group A.
Attached Image (click to enlarge)
Click to Enlarge Name: RB7-overlaid-EJ.png Size: 34 KB


Simarly, checkout the screenshot below. Here I've overlaid RB7 on top of USDCAD. Clearly RB7 does not track with UC and, so, UC gets assigned to Group B.
Attached Image (click to enlarge)
Click to Enlarge Name: RB7-overlaid-UC.png Size: 41 KB
  • #888
  • Nov 20, 2019 6:32am Nov 20, 2019 6:32am
Quoting robots4me
...{image}
Quote
I've made a modification to the BasketChart2 indicator that @LifeHunt3r shared a few posts back
Great job R4M. Well done!

Quote
3. I've modified the settings for the Smoothed Heiken Ashi so that it now closely mirrors Tidane 20/2. It would be too much work to substitute the built-in Smoothed HA with Tidane, so I instead made the Smoothed HA roughly mirror the Tidane 20/2.
Please is it possible for you to share this HAS setting? I would like to visually compare with Tidane on a regular chart. Thank you.

Please permit me to state once again that your contributions here are greatly appreciated and are ABOVE and BEYOND. Thank you.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #889
  • Nov 20, 2019 7:21am Nov 20, 2019 7:21am
Quoting robots4me
- again, thank you @LifeHunt3r.
Big pleasure and great work on this indi, thank you.
Fix your thoughts on what is true, and honorable, and right, and pure...
  • #890
  • Nov 20, 2019 7:36am Nov 20, 2019 7:36am
I’m sharing with you a quick demo scalp trade I took this morning approximately 20 minutes before London Open to illustrate how EAX is used for Basket Trading.

07H39 GMT
This was my EAX dashboard before the trade. It is set up with only the pairs within my basket – C8 – not all 28 pairs. I use EAX as a Trade Manager instead of scripts to open my basket trades, as well as for TP, SL, Trailing Stop/Profit Lock and BE. No EAX auto trading with baskets… yet. At the bottom of the screen you will see the BasketChart indi I previously posted. It is running on an M5 chart although I take my trades off the M15.
Attached Image (click to enlarge)
Click to Enlarge Name: EAX_C8a_07H39_GMT.png Size: 158 KB



07H40 GMT I decided to take a short trade and I pressed the ShortAll button. EAX immediately opens the trades. This image was taken 2 minutes after the trade was opened.
Attached Image (click to enlarge)
Click to Enlarge Name: EAX_C8b_07H42_GMT.png Size: 164 KB



At 07H44 GMT there was a nice pull-back (see arrow) from the initial move and I took the second trade on the basket by pressing the ShortAll button again. After a small drawdown of 16 pips (see top-right display of EAX) the basket moved back with the trend and started building momentum.
This image was taken at 08H13 GMT
Attached Image (click to enlarge)
Click to Enlarge Name: EAX_C8c_08H13_GMT.png Size: 165 KB



At 08H27 I see some really good signs from this trade with pips approaching 200 and I decide to set an optimistic 250 pips as a TP target with EAX’s Basket TP in Pips (this can also be adjusted for either pips, cash $ value or % profit).
Attached Image (click to enlarge)
Click to Enlarge Name: EAX_C8d_08H27_GMT.png Size: 164 KB



Upon second thought, I rescaled my original M15 chart for the next S/R level and find this picture…
08H31 GMT
Attached Image (click to enlarge)
Click to Enlarge Name: C8-Chart_08H31_GMT.png Size: 44 KB



No thinking required… we’re definitely going for the Weekly Pivot as a profit target.
Even with pip value approaching original target, TP cancelled shortly after.
08H37
Attached Image (click to enlarge)
Click to Enlarge Name: EAX_C8e_08H37_GMT.png Size: 166 KB



It doesn’t take long, but patience pays off and at 08H40 it hits the Pivot and I immediately close the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: C8-Chart_08H40_GMT.png Size: 45 KB



To close the basket in EAX I hit the CloseAll button. 268.9 Pips. This is EAX shortly after the exit.
Attached Image (click to enlarge)
Click to Enlarge Name: EAX_C8f_08H42_GMT.png Size: 154 KB



HUGE pull-back from the Pivot after I closed my trade. This picture was taken an hour later at 09H44 GMT.
Attached Image (click to enlarge)
Click to Enlarge Name: C8-Chart_09H44_GMT.png Size: 46 KB


Cheers

Lee
Fix your thoughts on what is true, and honorable, and right, and pure...
  • #891
  • Nov 20, 2019 12:34pm Nov 20, 2019 12:34pm
Quoting LifeHunt3r
I’m sharing with you a quick demo scalp...
awesome! thanks for sharing this details...
  • #892
  • Nov 20, 2019 2:22pm Nov 20, 2019 2:22pm
Quoting robots4me
I've made a modification to the BasketChart2 indicator that @LifeHunt3r shared a few posts back -- again, thank you @LifeHunt3r. Here's a link to the modified indicator: {file} There are three main changes: 1. The index's OHLC bars and Smoothed Heiken Ashi are drawn in the main window. 2. I've simplified the input settings and only expose the 'Pairs' setting. 3. I've modified the settings for the Smoothed Heiken Ashi so that it now closely mirrors Tidane 20/2. It would be too much work to substitute the built-in Smoothed HA with Tidane, so I instead...
Steve

Thanks for an exemplary post,choke full of pointers...

I am referring back to Bishop's post#577:

https://www.forexfactory.com/showthr...5#post12561555

"RB7 Basket Pairs: CADJPY,AUDJPY,NZDJPY,EURJPY,AUDUSD,USDJPY,NZDUSD"

In the second snapshot; RB7 overlaid with USDCAD- USDCAD getting assigned to group B

but usdcad is not part of RB7.

Could you let us know if the above pairs of RB7 are correct?

So, if an Buy Tidane entry is triggered on RB7: So will execution of orders will be Buy[Group A]+Sell[Group B]?

Thanks
  • #893
  • Nov 20, 2019 2:49pm Nov 20, 2019 2:49pm
[quote=robots4me;12624919]I've made a modification to the BasketChart2 indicator that @LifeHunt3r shared a few posts back -- again, thank you @LifeHunt3r. Here's a link to the modified indicator: {file} There are three main changes: 1. The index's OHLC bars and Smoothed Heiken Ashi are drawn in the main window...........

EX.4 again but good mod.
  • #894
  • Nov 20, 2019 3:16pm Nov 20, 2019 3:16pm
Quoting aaven
{quote} Steve Thanks for an exemplary post,choke full of pointers... I am referring back to Bishop's post#577: https://www.forexfactory.com/showthr...5#post12561555 "RB7 Basket Pairs: CADJPY,AUDJPY,NZDJPY,EURJPY,AUDUSD,USDJPY,NZDUSD" In the second snapshot; RB7 overlaid with USDCAD- USDCAD getting assigned to group B but usdcad is not part of RB7. Could you let us know if the above pairs of RB7 are correct? So, if an Buy Tidane entry is triggered on RB7: So will execution of orders will be Buy[Group A]+Sell[Group B]? Thanks...

RB7 Basket Pairs: CADJPY,AUDJPY,NZDJPY,EURJPY,AUDUSD,USDJPY,NZDUSD: Used to build the index chart

Trading:

Group A: CADJPY,AUDJPY,NZDJPY,EURJPY,AUDUSD,USDJPY,NZDUSD,EURUSD,AUDCAD,NZDCAD: Main trend

Group B: AUDNZD,EURNZD,EURAUD,EURCAD,USDCAD: Opposite Trend

RB7 Index : 28/3 : 2 Reversal Bars re-entries
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2019-11-20 at 22.14.38.png Size: 760 KB
  • #895
  • Nov 20, 2019 4:51pm Nov 20, 2019 4:51pm
bishopdotun! Your work is super !!!

Thanks!
  • #896
  • Nov 20, 2019 6:51pm Nov 20, 2019 6:51pm
Quoting TyLamai
{quote} {quote} Great job R4M. Well done! {quote} Please is it possible for you to share this HAS setting? I would like to visually compare with Tidane on a regular chart. Thank you. Please permit me to state once again that your contributions here are greatly appreciated and are ABOVE and BEYOND. Thank you. Regards and Stay fluid, Ty
@TyLamai -- here are the settings I used for the Smoothed HA indicator:
HAMethod1 = 3;
HAPeriod1 = 20;
HAMethod2 = 3;
HAPeriod2 = 1;

Please keep in mind this was a quick-and-dirty attempt to get the Smoothed HA to look sort of like the Tidane 20/2. Here's a screenshot of what it looked like to me:
Attached Image (click to enlarge)
Click to Enlarge Name: SmoothedHA-versus-Tidane.png Size: 48 KB


Also, here's the Smoothed Heiken Ashi indicator I was using:
Attached File(s)
File Type: ex4 Heiken_Ashi_Smoothed.ex4   11 KB | 177 downloads

Attached File(s)
File Type: mq4 Heiken_Ashi_Smoothed.mq4   9 KB | 233 downloads
  • #897
  • Nov 20, 2019 11:03pm Nov 20, 2019 11:03pm
Holding all my shorts...

C14
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2019-11-21 at 05.59.24.png Size: 743 KB


RB7
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot 2019-11-21 at 06.01.01.png Size: 747 KB
  • #898
  • Nov 21, 2019 12:45am Nov 21, 2019 12:45am
Quoting robots4me
{quote} @TyLamai -- here are the settings I used for the Smoothed HA indicator: HAMethod1 = 3; HAPeriod1 = 20; HAMethod2 = 3; HAPeriod2 = 1; Please keep in mind this was a quick-and-dirty attempt to get the Smoothed HA to look sort of like the Tidane 20/2. Here's a screenshot of what it looked like to me: {image} Also, here's the Smoothed Heiken Ashi indicator I was using: {file} {file}
Thanks for the share! Very much appreciated.

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #899
  • Nov 21, 2019 5:17am Nov 21, 2019 5:17am
C5 H4 (TD28,3) Buy basket is still valid.
Attached Image (click to enlarge)
Click to Enlarge Name: 00w14d1a_#TyC5#05H4.png Size: 52 KB

Same plotlines on the H1
Attached Image (click to enlarge)
Click to Enlarge Name: 00w14d1b_#TyC5#05H1.png Size: 53 KB


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #900
  • Nov 21, 2019 8:56am Nov 21, 2019 8:56am
Quoting bishopdotun
{quote} RB7 Basket Pairs: CADJPY,AUDJPY,NZDJPY,EURJPY,AUDUSD,USDJPY,NZDUSD: Used to build the index chart Trading: Group A: CADJPY,AUDJPY,NZDJPY,EURJPY,AUDUSD,USDJPY,NZDUSD,EURUSD,AUDCAD,NZDCAD: Main trend Group B: AUDNZD,EURNZD,EURAUD,EURCAD,USDCAD: Opposite Trend RB7 Index : 28/3 : 2 Reversal Bars re-entries {image}
Thanks Bishop...

Just for clarification on "Trend" and"opposite Trend"

Buy Tidane Signal on RB7 means, one executes the below orders?

Buy [CADJPY,AUDJPY,NZDJPY,EURJPY,AUDUSD,USDJPY,NZDUSD,EURUSD,AUDCAD,NZDCAD]
+
Sell[AUDNZD,EURNZD,EURAUD,EURCAD,USDCAD]
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