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(binned per thread starter's request) Currency Strength with cont

  • #621
  • May 30, 2018 4:03am May 30, 2018 4:03am
Quoting joycometh
if RSI 2 hlc3 can be put in that format i believe it will help a lot
Attached Image (click to enlarge)
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  • #622
  • May 30, 2018 4:04am May 30, 2018 4:04am
check the difference
  • #623
  • May 30, 2018 4:24am May 30, 2018 4:24am
Closed my GU short because the H1 RSI(2) had gone below 30 and I didn't like the look of the weakness USD was showing on Donforex.

I feel we have a great set of tools here to ensure we never join the retail herd again!
Attached Image (click to enlarge)
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  • #624
  • Edited 5:15am May 30, 2018 4:40am | Edited 5:15am
Quoting joycometh
check the difference
Hi joycometh

Sorry when I posted that "all RSI" indi did I have the wrong setting. For those that don't know how to recompile, etc., I am posting it again with the correct setting (rsi2) and the 30/70 levels already coded.

I have adjusted it and as you can see on my chart it's exactly the same now.

You still need to delete the lower time frames to the one you are watching although not absolutely necessary. You can adjust the thickness of the period line - I like mine nice and thick.

This is all thanks to Neil of course - I never used this the rsi2 before but it is really useful!

EDIT
With some quite important CAD news coming up this afternoon, my advice is to close all CAD based trades, unless you have some inside info of course!
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYH4.png Size: 55 KB
Attached File(s)
File Type: mq4 All RSI v1.0.mq4   8 KB | 290 downloads
  • #625
  • May 30, 2018 5:11am May 30, 2018 5:11am
Here is a thread with interesting MTF dashboard tools like, RSI and Money Flow Link (https://www.forexfactory.com/showthread.php?t=578918)

Congrats for this great thread!
Looking for profitable short term trades ...|
  • #626
  • May 30, 2018 5:43am May 30, 2018 5:43am
Quoting jmtini
{quote} Hi joycometh Sorry when I posted that "all RSI" indi did I have the wrong setting. For those that don't know how to recompile, etc., I am posting it again with the correct setting (rsi2) and the 30/70 levels already coded. I have adjusted it and as you can see on my chart it's exactly the same now. You still need to delete the lower time frames to the one you are watching although not absolutely necessary. You can adjust the thickness of the period line - I like mine nice and thick. This is all thanks to Neil of course - I never used this...
thanks but this is what it showing
Attached Image (click to enlarge)
Click to Enlarge Name: CADJPYH4.png Size: 25 KB
  • #627
  • May 30, 2018 5:51am May 30, 2018 5:51am
Hi Peeps

Please I will like to ask if anybody has a script/indicator that opens multiple buy/sell (or buy/sell limits) orders across multiple currencies, the currencies will be input-ed by the trader and the lot size will be set.

I will appreciate any help.

Thank you
D labour of a fool wearieth him cos he doesn't know how to enta d city
  • #628
  • May 30, 2018 6:07am May 30, 2018 6:07am
Is ANYONE using Tradingview or is EVERYONE using MT4?
  • #629
  • May 30, 2018 6:14am May 30, 2018 6:14am
Quoting jasonckb
{quote} Timing wise, what I observed......Trend is drove by big boy/ large speculator and not by retail....But why contrarian works???? It is because it help us to observe the timing for the attack of big boy (they decide to reverse the existing trend). But how??? Always a big rebound counter the existing trend first then hold for several day to accumulate more and this lure the original wrong retail to square their long holding losing positions at a lesser loss and then think they can jump into the original trend (wrong already as big boy reverse...
DXY (dollar index) consecutive several long candle in H1 and 2 in H4.......seems turning around. EURUSD myfxbook total volume shrinking and short increasing while long decreasing .....typical retail cutting long and adding short for band wagon or hedge.
  • #630
  • May 30, 2018 6:17am May 30, 2018 6:17am
Quoting jmtini
{quote} Hi joycometh Sorry when I posted that "all RSI" indi did I have the wrong setting. For those that don't know how to recompile, etc., I am posting it again with the correct setting (rsi2) and the 30/70 levels already coded. I have adjusted it and as you can see on my chart it's exactly the same now. You still need to delete the lower time frames to the one you are watching although not absolutely necessary. You can adjust the thickness of the period line - I like mine nice and thick. This is all thanks to Neil of course - I never used this...
can u pls fix it. its very very useful
  • #631
  • May 30, 2018 7:42am May 30, 2018 7:42am
Quoting Js3mwtRc
Here is a thread with interesting MTF dashboard tools like, RSI and Money Flow Link (https://www.forexfactory.com/showthread.php?t=578918) Congrats for this great thread!
Many thanks for the link, the mtf RSI dashboard is very much better than the one I previously posted and updates in real time.

EU is an interesting watch, as jasonckb said, the sentiment is shifting. The Daily RSI(2) moved above 30 at the end of US hours yesterday and there has been a significant flow from JPY to NZD, EUR and AUD during the day. Contrarian sentiment still points towards short selling but I think I'll sit on my hands and watch this one awhile.

@bojack34 I'm not sure it matters which platform you use as long as you are making money and are comfortable with it. I use mt4 because I have a very good, honest broker that pays my withdrawals into my account the next day and only uses mt4
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  • #632
  • May 30, 2018 8:33am May 30, 2018 8:33am
[quote=joycometh;11114691]{quote} can u pls fix it. its very very useful[/quote


Very strange indeed - when I looked at the one I posted originally the code I snipped out is all back - I think it's copywrite protected or something like that. When one messes around with it it stops working. Or perhaps someone has torpedoed us!

Anyway try this one, it seems to work absolutely fine:
Attached File(s)
File Type: mq4 All RSI_BO.mq4   5 KB | 260 downloads
  • #633
  • May 30, 2018 11:00am May 30, 2018 11:00am
Quoting hepsibah
{quote} Many thanks for the link, the mtf RSI dashboard is very much better than the one I previously posted and updates in real time. EU is an interesting watch, as jasonckb said, the sentiment is shifting. The Daily RSI(2) moved above 30 at the end of US hours yesterday and there has been a significant flow from JPY to NZD, EUR and AUD during the day. Contrarian sentiment still points towards short selling but I think I'll sit on my hands and watch this one awhile. @bojack34 I'm not sure it matters which platform you use as long as you are making...

What about this one? csdash (image)

It sends out alerts to your phone and at 18.50pm (my platform time) it sent out a buy EURUSD buy alert so I opened the trade and 10 pips quick profit! Can be quite useful.
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  • #634
  • May 30, 2018 11:36am May 30, 2018 11:36am
Quote - jmtini

Quote - With some quite important CAD news coming up this afternoon, my advice is to close all CAD based trades, unless you have some inside info of course! - End quote

Well just wait to see where the money is flowing in and out off.... Its all well and good having a currency strength meter but if you don't see where the money is flowing its no good. Did I have JPY and CAD inside info. YES, as good as the insiders have in a way. I knew what was happening as soon as it was happening.

I got a notification last night that a lot of money was flowing out of the JPY... into the NZD and today the CAD..

With a normal currency meter like the one above the CAD is the strongest and the JPY the weakest. Great so far.. But when the money stops flowing in and out of these currencies the reading will still be CAD strong and JPY weak.. That's when retail traders will start buying it and it will just drop again and they wonder why they always lose.

This thread has gone off track a bit in a way.... Now all the money is coming out of the GBP.....

All the currency meters I know use a lagging MA... or another lagging indicator to get the reading.
The most violent element in society is IGNORANCE
  • #635
  • May 30, 2018 11:54am May 30, 2018 11:54am
A real time real data up to the minute heat map...

https://www.tradingview.com/markets/currencies/cross-rates-overview-heat-map/
Attached Image(s) (click to enlarge)
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The most violent element in society is IGNORANCE
  • #636
  • May 30, 2018 12:11pm May 30, 2018 12:11pm
Set up alerts in MT4 to give you a notification... An email etc if prices start moving the opposite way... Then look at the the money flow and where it is going to and from. I would of kept my trade in the CAD/JPY open but the amount of money coming out of the JPY was huge..

I had a very large CAD/JPY sell order from Friday and I closed it as prices where rising again even though I wasn't at the computer and it wasn't near my stop loss.

And I don't even trade with MT4 but it is good for alerting you if you set it up.
Attached Images
The most violent element in society is IGNORANCE
  • #637
  • May 30, 2018 12:26pm May 30, 2018 12:26pm
Quoting neilgroom
Quote - jmtini Quote - .... I got a notification last night that a lot of money was flowing out of the JPY... into the NZD and today the CAD.. ...
Hi Neil...the "notification" you wrote about above...did it come from Don's activity indicator or what do you have that would have provided such info? I purchased Don's indicator this morning and he's actively building my key, so I haven't gotten it to know if it provides notification to my phone.
  • #638
  • May 30, 2018 12:27pm May 30, 2018 12:27pm
Quoting neilgroom
Quote - jmtini Quote - With some quite important CAD news coming up this afternoon, my advice is to close all CAD based trades, unless you have some inside info of course! - End quote Well just wait to see where the money is flowing in and out off.... Its all well and good having a currency strength meter but if you don't see where the money is flowing its no good. Did I have JPY and CAD inside info. YES, as good as the insiders have in a way. I knew what was happening as soon as it was happening. I got a notification last night that a lot of money...
Are you saying I was wrong to advise caution on CAD pairs? Are you serious? One poor trader (above) had a sell trade open on CADJPY and I advised caution because I had a feeling we might see a big spike - however nobody can be 100% certain which way it's going to go. Otherwise we'd have some a few unfairly very rich traders around.

If you are saying that had some inside information, thanks for sharing it with us! I notice that we are always told well after the event. Bully for you that you closed your CADJPY sell trade in time! On other pairs like EURCAD the price was rising so an alert would have been of no assistance at all!

Anyway I do use that currency meter that I posted above - I find it quite helpful and I don't see any difference between the heatmap you posted and the readings I'm getting from the indi. It's showing CAD, NZD, AUD as strong and JPY as weak (red)

Today we did not a have a great for the contrarian side of things so I believe it's important to be able to rely on currency strength on the day don't you? Unfortunately we are not all party to your specialised information
  • #639
  • May 30, 2018 12:35pm May 30, 2018 12:35pm
Quoting jmtini
{quote} What about this one? csdash (image) It sends out alerts to your phone and at 18.50pm (my platform time) it sent out a buy EURUSD buy alert so I opened the trade and 10 pips quick profit! Can be quite useful. {image}
Hi JM...would you mind providing that csdash indi?
  • #640
  • May 30, 2018 12:43pm May 30, 2018 12:43pm
Quoting lctrader11
{quote} Hi JM...would you mind providing that csdash indi?
Sure mate with pleasure. Here it is below

Also my template (blank chart)
Attached File(s)
File Type: ex4 csDash.ex4   141 KB | 338 downloads
File Type: tpl cs dash.tpl   64 KB | 305 downloads
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