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mctc currency strength indi for you to try

  • #21
  • Oct 9, 2017 4:07pm Oct 9, 2017 4:07pm
Quoting buju
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...

Thanks I'll check it out. Keep up the good work :-)
The most violent element in society is IGNORANCE
  • #22
  • Oct 11, 2017 11:54am Oct 11, 2017 11:54am
Ive posted this before and Ill post it again:

If you think like me you will agree.
-------------------------------------------

food for thought . . .

John was sold a lie.

It's a lie so easy to believe. Because it makes
so much sense.

Near impossible to challenge its logic.

And, really it's not a lie, per se. I mean, if you
believe in something so much, and then spread this
belief to other people, is it a lie?

Didn't matter anyway.

John believed the lie:

- You put indicator A on your chart.

- Then you put indicator B on your chart.

- Then you put indicator C on you chart.

- If A, B, C (and E, F, G...) are ALL telling you that
the price is gonna go up, then the probability of price
going up is increased, right?

So when John got confirmation (that the price is gonna rise)
and all his indicators were in agreement, he entered a
long trade.

Then the impossible happened.

Price plummeted.

John was angry, confuse, and disheartened.

Maybe he didn't add enough indicators.

Maybe if he also got confirmation from a few more indicators,
the price would indeed shoot up.

(as if market price rises or falls just because these
magical indicators say so...)

So, he added indicator X, and Y, and Z.

Then the same thing happened.

WTF.

A vicious circle.

No wonder John is frustrated.

No wonder John falls again and again for the
"fad of the day" everybody's trying to sell him.

----

Matt was sold the same lie.

It all made perfect sense.

If one indicator is right 50% of the time, the other is
right 50% of the time, then when both of them issue the
same signal, the chance of it being right must be higher
than 50%.

Right?

Well...

"Why do you think unsuccessful traders are obsessed with

market analysis?

They crave the SENSE of certainty that analysis appears
to give them.

Although few would admit it, the truth is that the typical
trader wants to be right on every single trade.

He is desperately trying to create certainty where it

just doesn't exist."
  • #23
  • Oct 11, 2017 12:18pm Oct 11, 2017 12:18pm
I quote a post on another thread:

Indicators are by their very nature lagging, so they're basically useless in trading. Unless of course you make money selling indicators or EAs - then they can be quite lucrative.

In your above, "John" clearly doesn't understand probability theory. Since each indicator has a 50% chance of being right ( in other words, no better than flipping a coin - heads I buy, tails I sell ) together the joint probability of success is 25%. So more indicators only makes matters worse, not better.

But of course, such basic understanding is discouraged by the trading industry - they want you to trade often, making them lots of money on the spreads. Hasn't everyone here at FF clicked on the "forex education" section of their broker's webpage? And what do we find there - instructions on how to use indicators - moving averages, RSI, stochastics, etc. Completely useless garbage that will only make you lose your hard-earned money.

Ask yourself this - why is it almost retail forex brokers/marketmakers use MT4? I'll tell you why - it's because Metatrader was designed to allow you to attach indicators, so you'll be tempted to trade frequently and thus lose money faster. It's the same reason Vegas slot machines have lots of "bells and whistles" - they want you to play so they can take your money.
  • #24
  • Oct 11, 2017 3:33pm Oct 11, 2017 3:33pm
SLICK ! Very nice work.

Does this indy take up much system resources?

Do you need to have all charts open, or just showing in Market Watch Window?
  • #25
  • Oct 12, 2017 8:20am Oct 12, 2017 8:20am
Hello BUJU. Here's what I get when trying to view indy.

I've rebooted, refreshed, changed settings, changed profiles to only one currency showing, Allow DLL Imports, tried 2 different MT4 brokers, and have been unable to get indy to properly display.

Also, pair does not change by clicking on it.
It I can get it to work, it would be GREAT to have font size adjustment, added to settings.
Thanks,
Darryl
Attached Image (click to enlarge)
Click to Enlarge Name: mctc Indy.png Size: 61 KB
  • #26
  • Oct 12, 2017 12:34pm Oct 12, 2017 12:34pm
the chart , USDCADi , has a suffix "i" added to the pair. some brokers use suffix's on their pairs.

the indi does not cater for that at the moment. You need to use a broker or pair that does not use suffix's , ie USDCAD , not USDCADi .
cheers
  • #27
  • Oct 12, 2017 7:48pm Oct 12, 2017 7:48pm
I give you mctc Impulse for you to try
Attached File(s)
File Type: ex4 mctc_2.ex4   47 KB | 523 downloads
  • #28
  • Oct 13, 2017 1:34am Oct 13, 2017 1:34am
Thankyou buju for presenting this nice indi!
may i ask if possible change the pair currency icon from vertical to horizontal rows?
  • #29
  • Oct 13, 2017 8:39am Oct 13, 2017 8:39am
well today markets where craZY , but then aren't they always on a friday !

happy to report my EA still managed to reach its target of 3 % for today , making it overall 100 % in 4 weeks , yes , its doubled the account in 1 month , the power of compounding ! feel free to look at the trade explorer.

my new EA, not shown here but shown on my mt5.com profile , look for buju , is much more efficient , pm me if you want the link

this is just a simple method , see previous posts , but I know using the indi can make MUCH more
so cmon peeps put your thinking caps on and work out a strategy/method , PM or post in here - or do you all love your boss - lol
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  • #30
  • Oct 13, 2017 11:06am Oct 13, 2017 11:06am
Overall very good stuff here Buju.

These comments are Merely observations, Not Complaints. Your indicator is definitely the best CSM I’ve ever seen.

Top Chart shows original mctc, lower chart updated mctc2.

The main difference is obvious regarding display of currency lines.

mctc 1 observations using Tradersway Charts. Rollover time 2200 GMT, 1700 EDT (US Eastern Daylight Saving Time):
• All features work according to your description. 8• )
• Pair rating display (Number Value) shows up on Oanda charts in values between +100 & -100, and remain constant whilst changing time frames.
• Pairs display as #7 font, and can be changed in ‘Objects’. Once chart is changed in TF, or pair, font returns to default. Not a huge item, just noting this because after staring at charts for 12yrs, my eyeballs need all the help they can get.
• Changing font display colors helps in visualizing them. I have changed colors in indicator settings, however change is not reflected on chart.

mctc 2 observations using Oanda Charts. Rollover time 0500 GMT, 0000 EDT (US Eastern Daylight Saving Time):
• Line display collapses & starts from “0” every 24hr period. Not an overall big deal unless trying to get a perspective on Weekly or Monthly chart strength.
• Pair rating display (Number Value) shows up on Tradersway charts in values between Plus & Minus values up into the thousands, and values change each time time frames are changed, however Relative values remain similar. i.e.: A rating on M30 might read -840, while on H1 the rating number is halved, or -420.
• Changing font display colors helps in visualizing them. I can change colors in indicator settings, and they remain changed on chart.

Thanks,
Darryl
Attached Image(s) (click to enlarge)
Click to Enlarge Name: mctc 1.png Size: 118 KB
Click to Enlarge Name: mctc 2.png Size: 75 KB
  • #31
  • Oct 13, 2017 11:21am Oct 13, 2017 11:21am
I'll try it.
Thanks
  • #32
  • Oct 13, 2017 2:52pm Oct 13, 2017 2:52pm
thanks Darryl

yes , Ive been so busy working on literally dozens of internal algorithms , I havent had chance with aesthetics.
the numbers or ratings are just that for now , they can be changed later , its all relativity iro the pairs in the end.
mctc_2 was posted at 3 am my time , i think maybe a bit prematurely , as you say it resets on a 0 time still using the algo from mcts , but with accumulating values , this makes it somewhat difficult iro internal coding or rewriting large sections , but yea , anything came be done

this is something I have to figure out if the broker is not close to gmt , I can see alot of head scratch coming if I want to implement gmt offsets , but currently the broker Im using , re: XM.com is close enough to the Asian markets opening , but that said , to make the indi and EA even more pinpoint it would have to be done
  • #33
  • Oct 13, 2017 5:16pm Oct 13, 2017 5:16pm
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.
Hi buju,
that sounds interesting (this strategy as well as your views on trading in common).
Unfortunately I found this thread just after market close today. So I will have a look on Monday.

May I ask you if you put any SL and TP?

Thanks for sharing.
  • #34
  • Oct 13, 2017 5:40pm Oct 13, 2017 5:40pm
Quoting buju
... 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...
another question.
If I understand it right, you open 6 pairs at (or shortly after) 00:00 London time? Then you let them run....
When another pair is joining the top-/bottom 3 pairs (subsequently replacing another one) you place a new order?
How many trades do you have usually open?

Thanks again.
Have a good weekend.
  • #35
  • Oct 14, 2017 7:58am Oct 14, 2017 7:58am
Quoting Et2017
{quote} another question. If I understand it right, you open 6 pairs at (or shortly after) 00:00 London time? Then you let them run.... When another pair is joining the top-/bottom 3 pairs (subsequently replacing another one) you place a new order? How many trades do you have usually open? Thanks again. Have a good weekend.
+++++++++++++++++++++

High ET. Bug mentioned that he likes to get into trades based on new arrivals to the top 3 and bottom 3. So catching most recent activity going in a specific direction, in hopes of joining a trend of some size. Post #8 Keeping that in mind, the colored lines help to visually confirm this activity.

We are given this tool to help us to imagine the many variations of how it can be used. So any and all ideas we come up with could be shared. We all benefit from the help of one another.

The alternative:
Inserted Video
  • #36
  • Oct 14, 2017 8:36am Oct 14, 2017 8:36am
Thanks diamond.
yes, I read this post, I just understood it differently , thus my question.
I appreciate the clarification.
  • #37
  • Oct 14, 2017 10:31am Oct 14, 2017 10:31am
Quoting diamonddbw
{quote} +++++++++++++++++++++ High ET. Bug mentioned that he likes to get into trades based on new arrivals to the top 3 and bottom 3. So catching most recent activity going in a specific direction, in hopes of joining a trend of some size. Post #8 Keeping that in mind, the colored lines help to visually confirm this activity. We are given this tool to help us to imagine the many variations of how it can be used. So any and all ideas we come up with could be shared....
Hi diamond,
it didn't let me in peace.... so I went through it again. On 13. October there were up to 21 trades open at the same time :-O, added throughout the day (https://www.forexfactory.com/showthr...ticket.7709737). With my broker and a similar account- and lot size I would exceed my Margin. How does that work?
Well, I'll look at it again, when market opens. Right now the indi doesn't give me a lot. Not even the "click to change pair" does work. But I guess that's because markets are closed?
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  • #38
  • Oct 14, 2017 10:43am Oct 14, 2017 10:43am
Am I doing something wrong? I load the indicator to a new chart and it looks like this.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2017-10-14 at 12.42.16 PM.png Size: 171 KB
Truth is like poetry. And most people f*cking hate poetry.
  • #39
  • Oct 14, 2017 12:29pm Oct 14, 2017 12:29pm
Quoting mrdfx
Am I doing something wrong? I load the indicator to a new chart and it looks like this. {image}
Howzit buju, ok it looks like I got it to show on H1 but it won't show anything on any other chart TF. Any solution? Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2017-10-14 at 2.27.21 PM.png Size: 374 KB
Truth is like poetry. And most people f*cking hate poetry.
  • #40
  • Oct 14, 2017 1:07pm Oct 14, 2017 1:07pm
right now markets are closed , try the strategy tester.
open the journal and see if there are an messages.
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