mctc currency strength indi for you to try | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Please help to make this indi into a Multiple Time Frame (MTF) indi 3 replies

MCTC 3.1 by Buju - Multi Currency True Currency 33 replies

MCTC MCTS 0 replies

Consecutive candles indi combined with volume & spread indi 13 replies

Need help to convert this indi into MTF indi 3 replies

Attachments: mctc currency strength indi for you to try
Exit Attachments

mctc currency strength indi for you to try

  • #61
  • Oct 16, 2017 2:00pm Oct 16, 2017 2:00pm
Quoting buju
Hi I always expire my indicators after 1 month. 1. Im always asking for feedback , but I never received anything in the past on other threads I started , so that tells me no one is really interested of bothers to reply back to my threads. 2. if someone replied back telling me the indicator has expired , then I know at least someone is interested and using it , I will then work with that person or at least try to work with them to improve it or build a strategy around it. There is lots of sharing , but mostly of peoples own opinions . there is very...
You know what ? That is a very reasonable thing to ask for and I think it can be a good enough motivation to keep working with you if they're really interested. But my only request and I think also a couple others here following the thread is that maybe this should have been cleared up from the begining
So again to sumup, I agree with your reason just think it could have been more clear to everyone from the start, maybe even you would have got more repies and ideas

Anyways I'm happy to help with this if there is a version that didn't expire yet
  • #62
  • Oct 16, 2017 2:08pm Oct 16, 2017 2:08pm
@buju

I just found this thread yesterday and read through it. I was curious why you have chosen the Asian trading session to open your trades? Any particular reason this session over the others?
  • #63
  • Oct 16, 2017 3:57pm Oct 16, 2017 3:57pm
Quoting meepstone
@buju I just found this thread yesterday and read through it. I was curious why you have chosen the Asian trading session to open your trades? Any particular reason this session over the others?
I guess if you want to trade daily candle then you must start at the beginning of the daily candle which is Asian session. Sometimes the move can be so great that by London session you barely have little movement or probably a reversal or pull back.
Nice concept and nice indi.
  • #64
  • Oct 16, 2017 5:17pm Oct 16, 2017 5:17pm
gr work
  • #65
  • Oct 16, 2017 9:00pm Oct 16, 2017 9:00pm
G'day buju

Nice thread mate. One suggestion I would make is to adjust your lot size based on each currencies pip value.

For instance, let's assume your base (deposit) currency is USD and your base lot size (based on your risk management) is 1 lot.

1 lot of EURUSD has a value of $USD 10 per pip
1 lot of USDJPY has a value of $USD 8.92 per pip

Therefore if you bought (or sold) 1 lot of each, you're actually risking more on the EU trade and conversely, not getting enough return on the UJ trade in comparison. To make them even trades, you would need 1 lot of EU and 1.12 lots of UJ ($10/$8.92 = 1.12)

If you want to try incorporating this into your strategy, I've attached the MQ4 code of an indicator I created. Feel free to use the code. You can also find further details here: https://www.mql5.com/en/code/12418

Cheers
Attached File(s)
File Type: mq4 pipvaluecalculatorv1_02.mq4   5 KB | 425 downloads
  • #66
  • Oct 16, 2017 10:38pm Oct 16, 2017 10:38pm
great suggestion , thanx so much
  • #67
  • Oct 16, 2017 10:47pm Oct 16, 2017 10:47pm
Thank you Man.
  • #68
  • Oct 17, 2017 4:24am Oct 17, 2017 4:24am
A really promising indi. Unfortunately doesn't allow any other custom indies that create objects(such as ADR, spread,time to candle end etc.) but ok.
It can still pull it off with a couple of the standard ones and a positive RR. Testing it on a demo since yesterday London close and still gave the correct directions maybe even better than Tokyo open.
BTW this is how it looked like 10 mins after Tokyo open.
Attached Image (click to enlarge)
Click to Enlarge Name: 2017.10.17_OPEN.png Size: 56 KB
Don't Fight Forces, Use Them.
  • #69
  • Oct 17, 2017 6:29am Oct 17, 2017 6:29am
Well Buju you have done a fantastic job and here is another update so far this morning.

I set the indi on the monthly setting and open the charts on the daily.. I wait until I get a reading of +/- 50. This usually comes from Tuesday morning or later.

Its the best currency strength indicator I have ever come across and I have tried them all and even had one coded. This is the best.

Here is from today so far and this just after one hour of trading..

I will be in touch but better let it run and get on with some painting. ;-)
Attached Image (click to enlarge)
Click to Enlarge Name: WeeklyStrength.png Size: 19 KB
The most violent element in society is IGNORANCE
  • #70
  • Oct 17, 2017 7:06am Oct 17, 2017 7:06am
Buju I've had a thought that perhaps could work, and that is for the indicator to display on the main chart. You could have the line graph internal/not showing so the display only shows the list of strong and weak currencies, kind of like a panel on the side? What do you think?
Truth is like poetry. And most people f*cking hate poetry.
  • #71
  • Oct 17, 2017 8:23am Oct 17, 2017 8:23am
Quoting neilgroom
Well Buju you have done a fantastic job and here is another update so far this morning. I set the indi on the monthly setting and open the charts on the daily.. I wait until I get a reading of +/- 50. This usually comes from Tuesday morning or later. Its the best currency strength indicator I have ever come across and I have tried them all and even had one coded. This is the best. Here is from today so far and this just after one hour of trading.. I will be in touch but better let it run and get on with some painting. ;-) {image}
that's quite the opposite of what was written in the rules (see post #1). but good to know.
I would like to try it out..... unfortunately it doesn't work on my machine / platform / broker anyway.... :-(
  • #72
  • Oct 17, 2017 10:29am Oct 17, 2017 10:29am
GREAT WORK BUJU!!
  • #73
  • Oct 17, 2017 6:55pm Oct 17, 2017 6:55pm
Quoting neilgroom
Well Buju you have done a fantastic job and here is another update so far this morning. I set the indi on the monthly setting and open the charts on the daily.. I wait until I get a reading of +/- 50. This usually comes from Tuesday morning or later. Its the best currency strength indicator I have ever come across and I have tried them all and even had one coded. This is the best. Here is from today so far and this just after one hour of trading.. I will be in touch but better let it run and get on with some painting. ;-) {image}

When do you close your trades?
  • #74
  • Oct 17, 2017 9:18pm Oct 17, 2017 9:18pm
quick update
ive been busy with some new algos , nothing exiting so far...

well as i said my ea got lucky a few times and this time its luck ran out and crashed ! -lol

at least i can see what happened and im very busy on some additions to improve it.
  • #75
  • Oct 18, 2017 1:35am Oct 18, 2017 1:35am
Buju, another thing to consider:

Rather than using an arbitrary figure for your take profit (eg 3% equity increase), have you tried using each currency's ADR as a target? As long as there's no high impact news it can be pretty reliable. Would also allow you to "ride the wave" higher.
  • #76
  • Oct 18, 2017 1:59pm Oct 18, 2017 1:59pm
Quoting BSFilter
Buju, another thing to consider: Rather than using an arbitrary figure for your take profit (eg 3% equity increase), have you tried using each currency's ADR as a target? As long as there's no high impact news it can be pretty reliable. Would also allow you to "ride the wave" higher.
thanks , this is what I'm looking for , a way to 'ride the wave' . how reliable would ADR be ? , what setting for ADR ?

I was also thinks of a trailing profit.
  • #77
  • Oct 19, 2017 12:25am Oct 19, 2017 12:25am
Keep up your good work Buju.
Best is Trailing Profit and Stop. Market is uncertain and unpredictable.
Thanks
  • #78
  • Oct 19, 2017 1:35am Oct 19, 2017 1:35am
Quoting buju
{quote} thanks , this is what I'm looking for , a way to 'ride the wave' . how reliable would ADR be ? , what setting for ADR ? I was also thinks of a trailing profit.

As I said before, high impact news/events can obviously push a range far higher than the ADR & low volatility, bank holidays etc can impact negatively. But on average, it is one of the more reliable stats (IMHO). Price will usually tend to reverse around the ADR or if it strongly breaks out of the range, will continue the move.

As for settings, I like to use a combination of short and long (which tends to give an average average ). I've attached one you might like to try (not my coding, been around for a while).

Cheers
Attached File(s)
File Type: mq4 xADR.mq4   4 KB | 398 downloads
  • #79
  • Oct 19, 2017 1:29pm Oct 19, 2017 1:29pm
ver 4

I have added a average line and some other little tweaks
the interesting thing is , when you look at how the currencies move on a day to day basis , you see some pairs moving against or away from the average line. I'm Sure there is a strategy there somewhere

thoughts anyone ?
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 166 KB
Attached File(s)
File Type: ex4 mctc_4.ex4   54 KB | 509 downloads
  • #80
  • Edited 2:06pm Oct 19, 2017 1:44pm | Edited 2:06pm
Quoting buju
ver 4 I have added a average line and some other little tweaks the interesting thing is , when you look at how the currencies move on a day to day basis , you see some pairs moving against or away from the average line. I'm Sure there is a strategy there somewhere thoughts anyone ? {image} {file}
Can you make the lines smoother, what do you think? (interpolate through formula)
Stay hungry to be free...
0 traders viewing now