Theory of "8-Currencies - Overbought/oversold" | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Overbought-Oversold İndic.İdea---The Real McCoy 6 replies

Help with SMA200 oversold&overbought code!! 5 replies

Overbought/Oversold Candle Stick Indicators 4 replies

oversold / overbought ? 4 replies

overbought or oversold condition? 5 replies

Attachments: Theory of "8-Currencies - Overbought/oversold"
Exit Attachments

Theory of "8-Currencies - Overbought/oversold"

  • #61
  • Oct 28, 2017 7:19am Oct 28, 2017 7:19am
Quoting Master-Mind
POST#1 Where can I find this indicator/EA? Can you please provide the link for download?
Expired and call 00966- xxxxx !

Is this commercial thread ?
  • #62
  • Oct 28, 2017 10:09pm Oct 28, 2017 10:09pm
Quoting kingofmicro
{quote} expired and call 00966- xxxxx ! Is this commercial thread ?
no, not commercial
i forget to change setting

re-download:

Sorry for any inconvenience
Attached File(s)
File Type: ex4 00_Elixir_Circles.ex4   715 KB | 601 downloads
File Type: ex4 11_Elixir_Relative_Currency_Strength.ex4   110 KB | 567 downloads
Forex Philosopher
  • #63
  • Oct 28, 2017 10:13pm Oct 28, 2017 10:13pm
Subcribed looks interesting Cheers !!!
  • #64
  • Oct 29, 2017 4:31am Oct 29, 2017 4:31am
Quoting hsav646
{quote} Here you go... {file}
that's been on FF for years, someone has just renamed it and locked it, cunning as shit house rats

https://www.forexfactory.com/showthread.php?p=2926740#post2926740
It takes a lot for me to IGNORE you, but you can try.
  • #65
  • Oct 29, 2017 4:32am Oct 29, 2017 4:32am
Quoting Master-Mind
{quote} no, not commercial i forget to change setting re-download: Sorry for any inconvenience {file} {file}
Don't hold back on the information - is the circles an Indicator or an EA ???

Okay, so it's an EA, wonder if Mohammed approved of trading FX

Attached Image (click to enlarge)
Click to Enlarge Name: 2017-10-29_19-37-42.png Size: 241 KB
It takes a lot for me to IGNORE you, but you can try.
  • #66
  • Oct 29, 2017 1:27pm Oct 29, 2017 1:27pm
Quoting VEEFX
{quote} Let's not forget that Currency Strength along with all the derivatives based on price vs time also becomes outdated on the next tick (or 4ticks across 4 pairs in this instance). With that said, Currency Strength (I like to refer as Economic Strength) is engraved in the DNA of how currency markets are "designed"...with the emphasis on "Design" and not "Function". Design because it is absolutely a key requirement on how global central banks manipulate their local money flows, trade balance etc Global economic dynamics is already reflected...
A polite nudge for those trying this out. Folks have missed the hidden power of selecting pair combinations with non repeating currencies mentioned at the beginning. Who can volunteer to create a set of such non repeating pair combinations?
https://www.forexfactory.com/showthread.php?p=10089528#post10089528
Staying in my lane...
  • #67
  • Oct 29, 2017 1:48pm Oct 29, 2017 1:48pm
Quoting Master-Mind
How to design Immediate BackTester for all pairs in less than one second for any strategy with precision of 100% on Live ACCOUNT: http://forum.arabtrader.com/t241220.html PLEASE, ANY ARABIC READER PROGRAMMER COULD TRANSLATED HERE IN FF
Anyone willing to translate this Arabic thread into a simple process document with the tool attached. I can only backrest my signals and was forced to painfully forward test my strategy across 5-6 demo instance of MT4 back in the day.
Staying in my lane...
  • #68
  • Oct 29, 2017 2:00pm Oct 29, 2017 2:00pm
For those who read my posts, my entire automatuon is based on this theory of mathematical correlations resulting in trend phases driven by strength and weakness across economiies reflecting in currency markets. There is no need for a mathematical formula or calculation of strength/weakness measurement. Its simple, sensible, logical and universal. It HAS to happen or capital markets and/or economies will seize to function.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_2017-10-29-11-55-53.png Size: 170 KB
Staying in my lane...
  • #69
  • Mar 6, 2018 11:49am Mar 6, 2018 11:49am
TOPIC ON THIS LINK https://www.forexfactory.com/showthread.php?t=739623 IS REPLACEMENT OF THIS TOPIC.
Forex Philosopher
  • #70
  • Apr 23, 2018 9:09am Apr 23, 2018 9:09am
Hi Master-Mind,
Just to tell you that i'm a great fan of your 11 elixir (a gem)
Thank you for your great work.
Dont bother others remarks, only people thinking like you not in the usual tracks can give us an edge in trading !
Best regards
  • #71
  • Jun 15, 2018 4:18pm Jun 15, 2018 4:18pm
It is a shame to see this thread with only 2 pages long. It is the MOST IMPORTANT THREAD ON FOREXFACTORY imo. This only proves how little members know about the currency markets.
Staying in my lane...
  • #72
  • Jun 15, 2018 5:13pm Jun 15, 2018 5:13pm
Quoting VEEFX
It is a shame to see this thread with only 2 pages long. It is the MOST IMPORTANT THREAD ON FOREXFACTORY imo. This only proves how little members know about the currency markets.

The Dude was accused by the usual of being a scammer, had to endure a complete roasting on that particular thread. had the usual suspension, reinstatement, suspended again etc,etc thread nuked, you know the drill by now...But you're right about this thread.
  • #73
  • Edited 7:04am Jun 16, 2018 6:42am | Edited 7:04am
Quoting moodybot
{quote} The Dude was accused by the usual of being a scammer, had to endure a complete roasting on that particular thread. had the usual suspension, reinstatement, suspended again etc,etc thread nuked, you know the drill by now...But you're right about this thread.
Hi Bud, they had good reason to accuse and read between the lines.

The original post of this thread is really important just as Veefx says.
More so in pre Pc days but nowadays you need really fast line speed and entries/info.
A lot of this stuff is way above your average trader that is why they should including myself use a simple and effective method.

Take care, trade well

edit. i forgot to say, Where is overbought/oversold??? i say this in a positive way...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #74
  • Jun 16, 2018 5:26pm Jun 16, 2018 5:26pm
Quoting billytt
{quote} Hi Bud, they had good reason to accuse and read between the lines. The original post of this thread is really important just as Veefx says. More so in pre Pc days but nowadays you need really fast line speed and entries/info. A lot of this stuff is way above your average trader that is why they should including myself use a simple and effective method. Take care, trade well edit. i forgot to say, Where is overbought/oversold??? i say this in a positive way...

Hi Billy

VEEFX asked where the dude had gone, so I reminded him.
At least four people on here recognise's the importance of post 1.
Where is overbought/oversold.....I look at positions relative to rather than assumed movement to or from, so for me the wording overbought/oversold
doesn't come into my trading.
You are correct though about the simple and effective method. No amount of number crunching to determine a pair to trade is going to help without a reasonable entry.
Cheers.
  • #75
  • Jun 16, 2018 5:58pm Jun 16, 2018 5:58pm
Quoting hsav646
Positive territory... {image}
https://www.forexfactory.com/showthread.php?p=10091477#post10091477

why were you buying ucad if both currencies we above average strength and you wanted to pit oversold versus overbought?

added those values up and divided by 8 i got 4.5125? what am i missing? TYIA
  • #76
  • Jun 16, 2018 6:18pm Jun 16, 2018 6:18pm
Quoting dagoods
{quote} https://www.forexfactory.com/showthread.php?p=10091477#post10091477 why were you buying ucad if both currencies we above average strength and you wanted to pit oversold versus overbought? added those values up and divided by 8 i got 4.5125? what am i missing? TYIA
I would say potentially CAD has maxed and is decreasing, USD rising.....Buy USDCAD
Picking a pair on one index being above 6 and the other below 3 for the gap to me is a little woolly...my question is where have the index's been, have they been contracting or expanding ...according to whatever method the strength meter is based upon.. also what is happening to the other index's...if something moves, there has to be movement elsewhere....great fun juggling strength/weakness...
  • #77
  • Jun 16, 2018 6:30pm Jun 16, 2018 6:30pm
Quoting Master-Mind
{quote} YES BROTHER it is unintentional mistake it is my pleasure you get the point. - Q: How do you determine which 4 pairs are overbought and oversold? Ans: 1---You can use XXX-Index for all 8 currencies individually ---- XXX = any currency or 2---you can estimate the volatility movements in pips last week -- last 9-days, last 3 months etc . . or 3---you can use my non-executive expert named Currency_Strength on n-period. or 4---you can use RSI, or AO, or MACD (any indicator evolving form Moving Averages) or 5---you may have more smart criterion...

why not use a long term time look back period for direction & but or sell according to overbought oversold in the direction of the longer term look back period? Wonder if that would improve results? have you tried it?
  • #78
  • Edited 7:32pm Jun 16, 2018 7:18pm | Edited 7:32pm
Their is no true meaning of overbought/oversold in forex. It's a myth...

If a currency is strong and rising and the buyers stop buying. What happens? It drops.. Doesn't mean it was overbought. How can there be an overbought USD.. There is an unlimited supply (Nearly) - If the buyers stop buying it then it drops.. Sort of supply and demand.. There is no way to tell when a currency is overbought or oversold as it doesn't exist..

Take the EUR/USD last Friday. It was rising and rising strong.... Then it dropped.. WHY? Was it overbought? NO. The buyers stopped buying it and took profits.. As there was no more buying at the end of the London session it dropped.. It wasn't overbought. NO TRUE MEANING.

Strongest/weakest currency over a period of
(Strongest first then Weakest)
1 day - EUR - AUD
3 days - USD - AUD
1 week - USD - AUD
1 month - USD - AUD
3 months - USD - GBP
6 Months - USD - GBP
1 year - USD - AUD
2 year - GBP - AUD
3 years - EUR - CHF

When will the AUD become oversold?... When will the USD become overbought? It won't... No true meaning of it in forex... Just another myth to make you lose.
Now in stocks YES but not in forex.

Erebus will dislike this post though like the rest... The Canadian who lives in Australia!!!
The most violent element in society is IGNORANCE
  • #79
  • Jun 16, 2018 8:31pm Jun 16, 2018 8:31pm
[quote=neilsdigest;11174003]Their is no true meaning of overbought/oversold in forex. It's a myth... If a currency is strong and rising and the buyers stop buying. What happens? It drops.. Doesn't mean it was overbought. How can there be an overbought USD.. There is an unlimited supply (Nearly) - If the

excellent answer, this overbought /sold info has to be taken at face value,
ok it can give you an idea at times but it certainly kills lots of eas
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #80
  • Jun 19, 2018 11:47pm Jun 19, 2018 11:47pm
Quoting neilsdigest
Their is no true meaning of overbought/oversold in forex. It's a myth... If a currency is strong and rising and the buyers stop buying. What happens? It drops.. Doesn't mean it was overbought. How can there be an overbought USD.. There is an unlimited supply (Nearly) - If the buyers stop buying it then it drops.. Sort of supply and demand.. There is no way to tell when a currency is overbought or oversold as it doesn't exist.. Take the EUR/USD last Friday. It was rising and rising strong.... Then it dropped.. WHY? Was it overbought? NO. The buyers...
I would have to disagree a little bit here Neil. Perhaps OB/OS is not applicable in Spot FX as there are no "balance" between buyers and sellers or concept of supply/demand is irrelwvant. We could call it Exhaustion or pause or consolidation or whatever but there is definitely this behaviour in FX as this characteristic is ingrained with the definition of the instrument itself. Agree that it is timeframe or duration visible especially if you want to quantify or measure it in order to make directional decisions. If trading off the "edges" is your thing then focusing on how to measure OB/OS is key Imo.....as I am doing it without even looking at the historical candles :-)

P.S. looks like you have also caught on the habbit of not using the Quote function like our friend FractalFreak lol
Staying in my lane...
0 traders viewing now