mctc currency strength indi for you to try | Forex Factory

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mctc currency strength indi for you to try

  • #1
  • First Post: Edited 7:45pm Sep 21, 2017 7:34pm | Edited 7:45pm
here is my latest currency strength indi

timeframe: it will reset the starting point to measure
example: if timeframe is set to daily , it will reset and start measuring from the beginning of a new day
or if H4 , reset and measure every 4 hours.

this indi can be very useful if trading daily / weekly / monthly , as it will show which are the best moving pairs.
NOTE: DO NOT SET THE TIMEFRAME GREATER THAN THE CHART TIMEFRAME !

click on the pairs on the right to change quickly into that chart.

try it and leave some feedback here for me.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 203 KB
Attached File(s)
File Type: ex4 mctc.ex4   44 KB | 1,787 downloads
  • #2
  • Sep 21, 2017 11:23pm Sep 21, 2017 11:23pm
Thank you for sharing this indicator.
  • #3
  • Sep 22, 2017 8:37am Sep 22, 2017 8:37am
When does your indicator expire ?


Quoting buju
here is my latest currency strength indi timeframe: it will reset the starting point to measure example: if timeframe is set to daily , it will reset and start measuring from the beginning of a new day or if H4 , reset and measure every 4 hours. this indi can be very useful if trading daily / weekly / monthly , as it will show which are the best moving pairs. NOTE: DO NOT SET THE TIMEFRAME GREATER THAN THE CHART TIMEFRAME ! click on the pairs on the right to change quickly into that chart. try it and leave some feedback here for me. {file} {image}...
  • #4
  • Oct 2, 2017 2:27pm Oct 2, 2017 2:27pm
is anyone using my indi ?

fyi - Ive done a trade explorer on the EA that is trading using only this indi :

https://www.forexfactory.com/buju#acct.19
  • #5
  • Oct 2, 2017 2:31pm Oct 2, 2017 2:31pm
Quoting buju
is anyone using my indi ?
Thanks for posting your currency strength indicator. I would be curious to try it but I won't use any indicator on the forums already in compiled format due to possible malicious code. Do you have the source?
Here's Tom with the weather.
  • #6
  • Oct 2, 2017 2:36pm Oct 2, 2017 2:36pm
I have the source , I coded it.
I cannot release my source code to the public , thanks anyway
  • #7
  • Oct 3, 2017 4:50am Oct 3, 2017 4:50am
Hi Buju,
I'm starting using it and i find it really interesting (visual ability).
How are you using it in your EA, do you buy the strongest and sell the weakest or are you combining the USD pairs (for ex EURUSD is up on your chart and USDJPY is down so you buy EURJPY ?)
  • #8
  • Oct 3, 2017 12:57pm Oct 3, 2017 12:57pm
Im trading the currencies pairs directly.
Indi timeframe set to Daily.

I take the 3 strongest up's and place buys orders , and , the 3 strongest down's and place sell orders.
the strength number should be above 20 +- and the spread below 5 pips
This is at or after the opening of the asian markets
If a new pair comes into the top 3 , up or down , I will place then a new order , up or down.

when the account reaches or exceeds 3 percent equity , I close all orders and stop trading for the day.

this is the basic EA strategy on my trade explorer.
  • #9
  • Oct 3, 2017 6:20pm Oct 3, 2017 6:20pm
When the indicator TF is set to daily, does the TF of the pair have to be set to daily too?
  • #10
  • Oct 4, 2017 9:00am Oct 4, 2017 9:00am
Quoting buju
Im trading the currencies pairs directly. Indi timeframe set to Daily. I take the 3 strongest up's and place buys orders , and , the 3 strongest down's and place sell orders. the strength number should be above 20 +- and the spread below 5 pips This is at or after the opening of the asian markets If a new pair comes into the top 3 , up or down , I will place then a new order , up or down. when the account reaches or exceeds 3 percent equity , I close all orders and stop trading for the day. this is the basic EA strategy on my trade explorer.
Ok thanks, will try
  • #11
  • Oct 5, 2017 6:35pm Oct 5, 2017 6:35pm
aelimian

the indi timeframe should greater than the chart timeframe

image attached shows that gbpjpy would have been the best pair to trade at that time , measuring over 1 month on daily timeframe.
you can bring this down to measure on a 5 minute chart over a daily period.
IE indi set to daily ; chart set to 5 minutes
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 228 KB
  • #12
  • Oct 5, 2017 6:40pm Oct 5, 2017 6:40pm
fyi:

My reply to a querry on another forum:

quote:
the indi measure movement from a point in time , we have to start measuring anything from a starting point , I like the daily timeframe , but Im busy experimenting with the H4 timeframe now.
I find the best way to use the indi is to trade the top 3 'up' and top3 'down' pairs that have a spread of less than 5.5 pips. what I have found is that the market can reverse at ANY time , so the best chance of success is to trade mutiple pairs , maybe one of them might reverse , bust we should have the others going in the right direction and then we are not trading the flat ones. my indi will show you the top movers and keep you away from the 'flat' moving pairs. there is a strenght value next to each pair , this is for you the trader to decide if the strength is strong enough to place a trade.
have a look at my signal , this is a EA based on this indi , it will trade from day opening the 3 strongest up and down pairs , and close trading when the account has reached 3 percent profit for the day , although I have seen it go to much more than 3 percent ! , but this is where the trader would come in and decide when to close trades.
I hope this helps.
PS , I stopped using indi's like RSI as they are based over a timespan period , so what is a good period for RSI ? 15 , 100 200 ??? , all these 'moving average' indi's are quite useless in my opinion because the essentially lag.
cheers
  • #13
  • Oct 5, 2017 6:57pm Oct 5, 2017 6:57pm
Thank you for this indicator.
  • #14
  • Oct 5, 2017 10:17pm Oct 5, 2017 10:17pm
Happy to report:
just ended this week off.
4 weeks running and 100 % success rate at achieving 3 % per day
  • #15
  • Oct 6, 2017 1:47pm Oct 6, 2017 1:47pm
Quoting OHLC
{quote} Thanks for posting your currency strength indicator. I would be curious to try it but I won't use any indicator on the forums already in compiled format due to possible malicious code. Do you have the source?
This indicator is nothing special: the core is smSession indicator....and buju indicator plots the difference of currencies strength for calculate pairs strength
  • #16
  • Oct 7, 2017 1:08pm Oct 7, 2017 1:08pm
Quoting buju
fyi: My reply to a querry on another forum: quote: the indi measure movement from a point in time , we have to start measuring anything from a starting point , I like the daily timeframe , but Im busy experimenting with the H4 timeframe now. I find the best way to use the indi is to trade the top 3 'up' and top3 'down' pairs that have a spread of less than 5.5 pips. what I have found is that the market can reverse at ANY time , so the best chance of success is to trade mutiple pairs , maybe one of them might reverse , bust we should have the others...

Please explain how and when you talk the profit in greater details. Thank you
  • #17
  • Edited 7:00pm Oct 8, 2017 6:39pm | Edited 7:00pm
This is awesome if you know how to use it properly.

I used the weekly timeframe last week and brought/sold if +50 or -50 or more
Made £4,183 from 6 pairs from 1 lot each. Brought at 9am (London time) Tuesday morning and closed all just before weekend close.

Where can I get the EA from. Will do the same this week and see how it goes. Powerful indi.

Nice one Buju. Well done :-)
The most violent element in society is IGNORANCE
  • #18
  • Oct 8, 2017 10:31pm Oct 8, 2017 10:31pm
buju.....thank you very much !!!
  • #19
  • Oct 8, 2017 11:39pm Oct 8, 2017 11:39pm
Quoting buju
Happy to report: just ended this week off. 4 weeks running and 100 % success rate at achieving 3 % per day
Hi Buju,

First of all thank you for the indicator. Do you use EA with this indicator or you place order manually. If you are using EA can you please provide here. Appreciated.

Bomi
  • #20
  • Oct 9, 2017 12:13pm Oct 9, 2017 12:13pm
Im glad my indi is helping some people , and thank you for posting.
The reason I put up this thread is so we can find a method to use it , by trading the BEST moving pairs from a starting point , be it H4 , daily , weekly or even monthly.
I believe in currency strength trading and do not believe in timespan averaging indicators.

@ neilgroom , Ive been reading some of your posts and we are on the same page , trade the weakest currency against the strongest , I truly believe this is the only way to trade profitably.

I have another indicator much more powerful than this one , but I cannot post the link here as it is for sale on MQL5 . com , but it is 100% in line with currency strength trading.

regards the EA: it is a test of a strategy , rather complicated and still has a few bugs. I am working on a more simplified version that will run on the MQL5 vps , still needs a few more weeks of testing. I did outline the strategy in a previous post.
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