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mctc currency strength indi for you to try

  • #81
  • Oct 19, 2017 2:52pm Oct 19, 2017 2:52pm
Quoting kaiser soze
{quote} When do you close your trades?
It depends really. I usually have a rolling stoploss of between 200 - 300 points depending on the currency.

Today has been amazing with the NZD. Nearly 50% on my £10,000 account in one day from four pairs with 1 lot each. I only had four when I could of had loads more but never had the time as I had to rush out. Not bad for 5 minutes work this early morning.

The NZD could fall more so I'll keep them running overnight (U.K time) and see how it goes in London open Friday.

This is the best currency strength indicator ever and with my other indicator that tells me the strength of the pair its awesome.
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The most violent element in society is IGNORANCE
  • #82
  • Oct 19, 2017 7:48pm Oct 19, 2017 7:48pm
3 hours into a new day and im testing my new revised EA on a different acc. with some crazy settings.

now here's the thing , a computer can calculate and analyze tons of data , and then do what its told to do , much faster than a human
hence it open , closes , calculates trades at lightning speed.

well it gave this result , and I set the EA to stop at 20 %
-
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  • #83
  • Oct 19, 2017 8:15pm Oct 19, 2017 8:15pm
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}
Yeah, I see what's going on here. The issue here is that the "scores" that are given to each currency is basically just the amount of pips that each has moved since the open. But as we discussed earlier, not all pip values are equal. So the scores will always be slightly incorrect.

The key to remember is that if you add up all positive and negative moves on all 28 pairs, adjusted for each currency's pip value, the result should always be......zero! (the average will also obviously be zero)

There's a few ways around this. I coded up a few currency strength meters a couple of years ago and the way I overcame this issue was to normalize all pairs to a base scale (eg 0 to 100, -100 to +100 etc). The easiest way to do this is to add up all of the 28 pairs pip movements. It has to be the "absolute" movement, not positive or negative. So let's say that equals 287. Now compare each pair's movement as a % of that whole. Say EU has moved 28 pips, that's (28/287) * 100 = 9.75%. At this stage you re-introduce the positive or negative value. So if EU dropped, it's move was -9.75%.

Do the same for all 28 pairs. You'll know if the calculation is correct if you add up all pairs and the result is, you guessed it, zero

Hope that all makes sense?
  • #84
  • Oct 20, 2017 6:15am Oct 20, 2017 6:15am
Quoting buju
3 hours into a new day and im testing my new revised EA on a different acc. with some crazy settings. now here's the thing , a computer can calculate and analyze tons of data , and then do what its told to do , much faster than a human hence it open , closes , calculates trades at lightning speed. well it gave this result , and I set the EA to stop at 20 % - {image}
Are you still following the same as before and opening at Asian session?
Truth is like poetry. And most people f*cking hate poetry.
  • #85
  • Oct 20, 2017 9:26am Oct 20, 2017 9:26am
@bsfilter - thanks for that , makes perfect sense. at math i good - lol.

@mrdfx - yes buddy
  • #86
  • Oct 21, 2017 3:24am Oct 21, 2017 3:24am
buju, to filter your trades using C/S - strongest vs weakest - enter on a lower time frame after a retracement
Either stick to one pair manually or use an EA to basket trade them
  • #87
  • Oct 22, 2017 7:18am Oct 22, 2017 7:18am
Buju i have a question: MT4 has a limitation about number of buffer can be used (max 8).
How u can plot 28???

Tnx u so much
  • #88
  • Oct 22, 2017 7:36am Oct 22, 2017 7:36am
The amount of buffers cannot exceed 512 and be less than the value set in
#property indicator_buffers

iCustom can only read the first 8 buffers.
  • #89
  • Oct 22, 2017 7:41am Oct 22, 2017 7:41am
Quoting buju
The amount of buffers cannot exceed 512 and be less than the value set in #property indicator_buffers iCustom can only read the first 8 buffers.
Tnx u so much!!!!!
  • #90
  • Oct 22, 2017 8:38am Oct 22, 2017 8:38am
Quoting BSFilter
{quote} Yeah, I see what's going on here. The issue here is that the "scores" that are given to each currency is basically just the amount of pips that each has moved since the open. But as we discussed earlier, not all pip values are equal. So the scores will always be slightly incorrect. The key to remember is that if you add up all positive and negative moves on all 28 pairs, adjusted for each currency's pip value, the result should always be......zero! (the average will also obviously be zero) There's a few ways around this. I coded up a few...
By screen watching and only one symbol you develop some kind of a habit to anticipate the short-term momentum of that symbol. you don't even make a deliberate effort to choose hours for doing this trade. Unconsciously you develop the habit of anticipating the birth of momentum.

EA has to be coded with the ability to anticipate it. Not necesssarily you hit it every time. Even if the EA hits 70% time, it will be a profitable EA provided you know your money management game well.



-----------------------------
Understanding Habit Formation
Habit formation is the process by which new behaviors become automatic. If you instinctively reach for a cigarette the moment you wake up in the morning, you have a habit. By the same token, if you feel inclined to lace up your running shoes and hit the streets as soon as you get home, you've acquired a habit. Old habits are hard to break and new habits are hard to form. That's because the behavioral patterns we repeat most often are literally etched into our neural pathways. The good news is that, through repetition, it's possible to form—and maintain—new habits.
Practice makes a person perfect
  • #91
  • Oct 22, 2017 9:05am Oct 22, 2017 9:05am
Quoting buju
The amount of buffers cannot exceed 512 and be less than the value set in #property indicator_buffers iCustom can only read the first 8 buffers.
You can also try to separate symbols into (a) and (b) and see if any edge can be found.

(a) symbols with Base currency /payment currency. Example: EurGbp - Eur is base currency and GBP is payment currency.
(b) symbols with Payment currency/Base currency : All the currencies out of 28 symbols which don't have base currency in the front.

Currencies are always quoted in pairs, such as GBPUSD or USD/JPY. The reason they are quoted in pairs is because in every foreign exchange transaction, you are simultaneously buying one currency and selling another. Here is an example of a foreign exchange rate for the British pound versus the U.S. dollar:
Attached Image
Practice makes a person perfect
  • #92
  • Oct 22, 2017 11:17am Oct 22, 2017 11:17am
thanks simnz
there are these indicators around , I done it , split them up and then re assembled them into pairs , then filtered them into the best movers.
This indicator is on my mql5 profile: buju : Multi Currency True Strength
  • #93
  • Oct 22, 2017 11:38am Oct 22, 2017 11:38am
Quoting buju
thanks simnz there are these indicators around , I done it , split them up and then re assembled them into pairs , then filtered them into the best movers. This indicator is on my mql5 profile: buju : Multi Currency True Strength
You have already done a commercial indicator.
So what exactly you need here?
Looking for buyers?
Practice makes a person perfect
  • #94
  • Oct 22, 2017 11:45am Oct 22, 2017 11:45am
Quoting buju
thanks simnz there are these indicators around , I done it , split them up and then re assembled them into pairs , then filtered them into the best movers. This indicator is on my mql5 profile: buju : Multi Currency True Strength
You have already done a commercial indicator.
So what exactly you need here?
Looking for buyers?
It's tough business my friend, selling signals and indicators?
The amount of time you put in is not worth your efforts.
Practice makes a person perfect
  • #95
  • Oct 22, 2017 3:51pm Oct 22, 2017 3:51pm
Thank you Buju!
Great work.
  • #96
  • Oct 22, 2017 6:23pm Oct 22, 2017 6:23pm
Quoting simnz
{quote} You have already done a commercial indicator. So what exactly you need here? Looking for buyers? It's tough business my friend, selling signals and indicators? The amount of time you put in is not worth your efforts.

He is mainly looking for FEEDBACK....he made it crystal clear...........and he actually shares quite a bit in pm...and the results I'm getting are all worth it....enuf said
  • #97
  • Oct 22, 2017 6:29pm Oct 22, 2017 6:29pm
Hi people
here is the latest version.
I have added in a exiting new feature , I call it the trade zone.

this is how it works , referring to the attached picture.
1. do not trade in this zone , wait for no.2
2. trade when in this zone , this is the trade zone , this has been calculated mathematically to give you the best chance of success.
- it is based on the movement of the top 3 up and down against the average movement of all pairs.
3. top up moving pairs
4.top down moving pairs
5. side bar of top up moving pairs -Clickable for fast chart switching
6. side bar of top down moving pairs - Clickable for fast chart switching

method:

wait until a trade zone appears
now place buy trades on the top 3 up moving pairs (no.5)
also
now place sell trades on the top 3 down moving pairs (no.6)
close trades at your discretion , according to the market movement for the day.

Notes:

I personally prefer a 1 or 5 minutes chart with the indicator set on daily timeframe , you can experiment with different setting and perhaps you get good results.

I cannot tell you what tp or sl to use , this is entirely based on you the traders assessment of the market movement for the day , so please don't ask me about tp / sl.

try to get in early on the trade zone , basket trade , 3 or even more pairs.

sometimes pairs will reverse their movement even when in the trade zone , this is how the market moves , we have no control over it , all I'm trying to do here is give you the best possible chance of successful trades by applying a mathematical formula , lol , and there are quite a few of them inside this indicator.

be watchful of spread , I wont trade pairs above 55.

all I ask is to post your findings here , or even just PM me if you don't want to post publically. I respond to all PM's

thanks so much and good luck.
Attached Image (click to enlarge)
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Attached File(s)
File Type: ex4 mctc_4.ex4   60 KB | 671 downloads
  • #98
  • Oct 22, 2017 8:24pm Oct 22, 2017 8:24pm
Quoting buju
Hi people here is the latest version. I have added in a exiting new feature , I call it the trade zone. this is how it works , referring to the attached picture. 1. do not trade in this zone , wait for no.2 2. trade when in this zone , this is the trade zone , this has been calculated mathematically to give you the best chance of success. - it is based on the movement of the top 3 up and down against the average movement of all pairs. 3. top up moving pairs 4.top down moving pairs 5. side bar of top up moving pairs -Clickable for fast chart switching...
Thanks buju I'll test this latest version and let you know.
Truth is like poetry. And most people f*cking hate poetry.
  • #99
  • Oct 22, 2017 8:30pm Oct 22, 2017 8:30pm
Quoting kaiser soze
{quote} He is mainly looking for FEEDBACK....he made it crystal clear...........and he actually shares quite a bit in pm...and the results I'm getting are all worth it....enuf said
In such a case he should shift to commercial section. Which is also free but not misleading.
Practice makes a person perfect
  • #100
  • Oct 22, 2017 9:06pm Oct 22, 2017 9:06pm
Quoting simnz
{quote} In such a case he should shift to commercial section. Which is also free but not misleading.
I really like enjoying reading discussions of different people's idea's on what works for them. This is just wasted time and is irrelevant to everyone enjoying the thread.
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