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Currency Strength Simple

  • #121
  • Nov 13, 2018 2:33am Nov 13, 2018 2:33am
Ps. ingore my previous message. The problem has been solved.
Thanks.
  • #122
  • Nov 24, 2018 6:16am Nov 24, 2018 6:16am
Quoting shahed58
Peace be upon everyone at the first , I thank the people who guided me to CSM and Before starting please let me Say this: 1 -Do not take the thread to the Marginalization 2 -These strength tools are free and If it is useful for you Download and use, but If not useful i wish peace for you 3- I do not write the names of traders Because some people think I want to Advertise others person 4- Just thats dear ones... Tip : This PDF is just an example and this is not an advertisement for an person or strategy, It's just a example to using these indicators...

AOA Shahed,

Thanks for your EA and sharing,

I am just curious about something I wish if Iam able to test:

I have noticed some indicators that combine number of (indicators inside them) which would give an alert when a certain score is achieved. For example: Let's say we have an indicator that measures MACD, RSI and Price change. It will display a signal once a certain score is met. Let it be 70 percent. The logic here is we enter before we reach the exhaustion.

I wish if I find something similar in dashboards.If a currency exhibits some bullishness or bearishness, I want to be notified at the 70 percent mark not after.

Have you experienced this idea before?

If you know any indis that would do that, can you notify us here. If they are commercial, would be great if you PM please.

Regards
  • #123
  • Edited 1:32pm Nov 26, 2018 1:20pm | Edited 1:32pm
Quoting mtharwat
{quote} AOA Shahed, Thanks for your EA and sharing, I am just curious about something I wish if Iam able to test: I have noticed some indicators that combine number of (indicators inside them) which would give an alert when a certain score is achieved. For example: Let's say we have an indicator that measures MACD, RSI and Price change. It will display a signal once a certain score is met. Let it be 70 percent. The logic here is we enter before we reach the exhaustion. I wish if I find something similar in dashboards.If a currency exhibits some...
hi mtharwat , welcome
To use these indicators like MACD & RSI with CS , Unfortunately i have no experience and I do not use them
because of i do not trust them mentally
be healthy and wealthy... Ceeport
  • #124
  • Dec 29, 2018 5:17am Dec 29, 2018 5:17am
Happy New Year every one and Merry Christmas to all Christians.

@shahed58

Thank you again for your indicator/expert advisor and your overall friendliness.

I may have missed it somewhere but may I ask : On what basis the expert advisor version 7 make its calculation? Is it based on MA differences, Candle prices (i.e current open compared to last close, etc..)?
I totally understand if you want to keep this for yourself and not sharing it. I just thought of asking if you don't mind.


I also want to thank you a lot for the "Look Back" feature. In many of the currency strength meters I have seen, I never found a feature that detects what was happening at X-N bars ago. This made testing the dashboard a pain and forward testing was the only option. I have not still used the "forcehistory" you have mentioned before but I will install it soon.


My last comment is regarding the total number of spreads. This is great for basket traders. If you can add the "cost" in terms of money or average per pip, it would be great. It is just a suggestion that may or may not appeal to every one.

Regards
  • #125
  • Dec 29, 2018 12:19pm Dec 29, 2018 12:19pm
Quoting salimc
Ps. ingore my previous message. The problem has been solved. Thanks.
hi Salimc

Are you trading ths system and if so, to what level of success are you experiencing?

Thanks
  • #126
  • Dec 29, 2018 2:53pm Dec 29, 2018 2:53pm
Quoting mtharwat
Happy New Year every one and Merry Christmas to all Christians. @shahed58 Thank you again for your indicator/expert advisor and your overall friendliness. I may have missed it somewhere but may I ask : On what basis the expert advisor version 7 make its calculation? Is it based on MA differences, Candle prices (i.e current open compared to last close, etc..)? I totally understand if you want to keep this for yourself and not sharing it. I just thought of asking if you don't mind. I also want to thank you a lot for the "Look Back" feature. In many...
Hi mtharwat
Happy new year to you too , thanks for your beautiful comments and suggestion

about : On what basis the expert advisor version 7 make its calculation?

This calculation is simple and this tool uses iLow & iHigh & BID to calculate currency strength
range = iHigh( sym, TF_1, 0 ) - iLow( sym, TF_1, 0 )
ratio = 100.0 * MathAbs( MarketInfo(sym,MODE_BID)-iLow(sym,TF_1,0) ) / range ;
strength += ratio;

about : Add new features
I am adding a display of candles(for example View ٍEUR's group candles in 4H or D) and Add currencies group movement
I definitely think of your suggestion

The content of this Expert is not secret and I'll answer every part you ask
be healthy and wealthy... Ceeport
  • #127
  • Dec 31, 2018 3:52am Dec 31, 2018 3:52am
Quoting Degsie
{quote} hi Salimc Are you trading ths system and if so, to what level of success are you experiencing? Thanks
I trade manually.
  • #129
  • Edited 11:22pm Dec 31, 2018 10:53pm | Edited 11:22pm
Quoting shahed58
{quote} Hi mtharwat Happy new year to you too , thanks for your beautiful comments and suggestion about : On what basis the expert advisor version 7 make its calculation? This calculation is simple and this tool uses iLow & iHigh & BID to calculate currency strength range = iHigh( sym, TF_1, 0 ) - iLow( sym, TF_1, 0 ) ratio = 100.0 * MathAbs( MarketInfo(sym,MODE_BID)-iLow(sym,TF_1,0) ) / range ; strength += ratio; about : Add new features I am adding a display of candles(for example View ٍEUR's group candles in 4H or D) and Add currencies...


Thanks Shahed for your reply.

1- My understanding of your equations is as follows. Please correct me if I am wrong:
---- The EA would calculate the difference between the current close and the previous close. This will apply on each pair within a currency group. Thus we will know if the currency is strengthening or weakening against other currencies.
-----The EA will also calculate the difference between the high and the low for the current candle (or previous one?) to measure the volatility for each pair within a currency group. This will show us how much each currency is volatile by detecting its range. The higher the range on all pairs within a currency, the more likely the currency will be volatile.
And then each of the two previous results would be multiplied by 100 to create an index to easily track different currencies.

-----------------------------------------------

Now there is another important thing Shahed I am looking for. I even thought of opening a thread for it. It would be great if you can help me with it please. It will be a bit lengthy.

I have been delving into "Synthetic Currency" Indices. For example: On Lite forex there are non tradable indices available on in their market watch for all the eight currencies, such as EURLFX, USDLFX, GBPLFX, etc... What I like about it is that they give equal weighing for each currency against others and thus create a more realistic view of the market. This is why the USDLFX (Lite Forex USD currency Index) would be different from the the tradable one offered on other brokers MT4 platforms. The first gives equal weight to all currencies while the second gives more wight to certain ones.

Any way, these Lite Forex currency Indices are almost the same as the TradingView Indices (https://www.tradingview.com/markets/...s/indices-all/).

They have a certain calculation by multiplying pairs and then dividing them by seven. I won't go much in the math.


However and here comes my inquiry and would love to know your comments on the matter please:

In tradingview, there is a feature that allows you to ADD different pairs. So for example: I can add EURUSD + EURGBP + EURAUD + EURCAD + EURJPY + EURNZD + EURCHF. and the result would be one chart with normal candlesticks to be analysed on different time frames.
(Thanks for Degolep at forexfactory for telling me about this feature)

I noticed that if I compare Euro pairs (by adding them) , the chart will be different from the EUR Index available on trading view. I can tell why there is a difference. The index is not calculated by adding pairs but rather by multiplying them.

My observation is that the addition of pairs result in a more realistic view of the currency which is better than the normal formula used for calculating a currency index by multiplying them.
Shahed....What do you think of this. Have you thought of it previously? Also: do you know any MT4 indicator that would enable me to ADD pairs to produce a synthetic chart?

What I like about this feature in Trading view of (adding/subtracting/multiplying and division) is that I can control which currencies to include/exclude and which math I can use (i.e multiplying or adding, etc..).

For example I can compare three currencies against each other: (EUR/USD/GBP). So for EUR I would type the equations as follows : EURUSD+EURGBP to produce a chart of EUR index (relative to the other two currencies) or I can type EURUSD*EURGBP/2.
Of course the options are countless. If I want to give more weight to a to EUR against pound, I can type:
EURUSD+2*EURGBP.

Take your time my friend and do not rush a reply.

Thanks again Shahed.

NB: I have attcahed the Canadian Index (A built in index in Tradingview)
and Attached a Summation of all Canadian pairs.
Both are weekly
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CAD Index (Tradingview).png Size: 112 KB
Click to Enlarge Name: Adding CAD Pairs.png Size: 122 KB
  • #130
  • Edited 3:32pm Jan 1, 2019 3:22pm | Edited 3:32pm
Quoting mtharwat
{quote} Thanks Shahed for your reply. 1- My understanding of your equations is as follows. Please correct me if I am wrong: ---- The EA would calculate the difference between the current close and the previous close. This will apply on each pair within a currency group. Thus we will know if the currency is strengthening or weakening against other currencies. -----The EA will also calculate the difference between the high and the low for the current candle (or previous one?) to measure the volatility for each pair within a currency group
Yes that's right , A simple example of EURUSD for Buy

1- The power of the EUR group has been low in the previous H4, and EUR's power in Current H4 is high ----> So the EUR group is strong now
2- The power of the USD group has been reduced
result : So it's a good place to buy EURUSD

About the formation of a currency group , Everyone has his own idea

for example : For the USD group , Some trader choose this group{"EURUSD","GBPUSD","USDCAD","USDCHF","AUDUSD","NZDUSD","USDJPY"}
And some others choose this group {"EURUSD","GBPUSD","USDCAD","USDCHF","AUDUSD","NZDUSD}
"USDJPY"eliminates

About the formation of these groups opinions are different , that's why your chart differs from their chart

Or for NZD Group: {"NZDUSD","NZDCAD","NZDCHF","NZDJPY","AUDNZD","EURNZD","GBPNZD"}
Some trader believe, Only these 6 are important {"NZDUSD","NZDCAD","NZDCHF","NZDJPY","EURNZD","GBPNZD"}
And they will remove "AUDNZD"

I have not removed any currency pairs from the groups myself
AUD[] = {"AUDUSD","AUDJPY","AUDCHF","AUDCAD","AUDNZD","EURAUD","GBPAUD"};
GBP[] = {"GBPUSD","GBPCHF","GBPJPY","GBPCAD","GBPAUD","GBPNZD","EURGBP"};
EUR[] = {"EURUSD","EURGBP","EURCHF","EURJPY","EURCAD","EURAUD","EURNZD"};
JPY[] = {"USDJPY","GBPJPY","EURJPY","CHFJPY","CADJPY","AUDJPY","NZDJPY"};
CAD[] = {"CADCHF","CADJPY","USDCAD","EURCAD","GBPCAD","AUDCAD","NZDCAD"};
NZD[] = {"NZDUSD","NZDCAD","NZDCHF","NZDJPY","AUDNZD","EURNZD","GBPNZD"};
CHF[] = {"CHFJPY","USDCHF","EURCHF","GBPCHF","CADCHF","AUDCHF","NZDCHF"};
USD[] = {"EURUSD","GBPUSD","USDCAD","USDCHF","AUDUSD","NZDUSD","USDJPY"};

If you get better results About the correct way of forming a group of currencie Please let me know

I am waiting for your good comments...
be healthy and wealthy... Ceeport
  • #131
  • Jan 1, 2019 3:29pm Jan 1, 2019 3:29pm
Quoting rolandojno
I would like to know what is the difference between this panel and the previous dead thread? Was it improved? thank you
My tool is a simple tool , But that is dingdong99's professional dashboard
https://www.forexfactory.com/dingdong99
be healthy and wealthy... Ceeport
  • #132
  • Jan 1, 2019 6:21pm Jan 1, 2019 6:21pm
[quote = shahed58; 11835433] {quote} Mi herramienta es una herramienta simple, pero ese es el panel de control profesional de dingdong99 https://www.forexfactory.com/dingdong99 [/ quote]


Thanks for answering, I like the simplicity of the tool, I'm going to start testing it, is this the final version or will you add more add-ons? Could you clarify what it means: P & C, M / S and RM / RS?

Thank you
  • #133
  • Jan 1, 2019 11:59pm Jan 1, 2019 11:59pm
Quoting shahed58
{quote} If you get better results About the correct way of forming a group of currencie Please let me know I am waiting for your good comments...

I will for sure Shahed...

Sharing experiences and delving into and examining very small details is the way to go for better results. Rarely when traders want to bother themselves with formulas and breaking things into very small pieces and then share their findings.

I will look around and try to find the best formula.

Generally speaking, I am inclined to being a "chartist" or in other words trying to create a chart that has the best PA. For example, one can create a chart for three or four pairs and play with all variables to create the best 123 setup or a clear breakout of S/R etc... The idea is to enable me as a trader to "Custom Design" my chart.

Still a long way to go...

There is something else you may have missed in my previous post. What do you think of the idea of "multiplying" pairs and dividing them by the number of pairs versus "adding" pairs to create a chart. So not only to include/exclude the pairs but also which Arithmetic equations we should use?

BTW Shahed, it will be great if you know of any MT4 indicator that enables me to do Arithmetic equations with selected pairs to create a custom designed or a synthetic chart. I am not sure though if something like this would exist because most probably the chart created will be an offline one and it won't be easy to change Time Frames on one chart.

Regards
  • #136
  • Jan 4, 2019 10:34am Jan 4, 2019 10:34am
I do not know if it's just happening to me, but neither the profit nor the SL are working on buying or selling the basket. maybe I could add Trailing stop.

I'd be really grateful
  • #137
  • Jan 15, 2019 4:44am Jan 15, 2019 4:44am
Quoting shahed58
{quote} hi majamivice Please use this version...but copy to expert folder update first post click on "BUY" ---> Open Buy Basket click on "SELL" ---> Open SELL Basket click on "Name Currency" --- > Close Basket Currency {file}
I wish I had read this before today, I clicked on JPY and must have clicked on BUY and it executed basket trades all going South it was my trade Explorer that alerted me that I had open trades.
Attached Image (click to enlarge)
Click to Enlarge Name: DSBD TRD 002.png Size: 45 KB
Let it turn and find your entry.
  • #138
  • Jan 15, 2019 12:30pm Jan 15, 2019 12:30pm
Quoting Intrepidpips
{quote} I wish I had read this before today, I clicked on JPY and must have clicked on BUY and it executed basket trades all going South it was my trade Explorer that alerted me that I had open trades. {image}
hi Intrepidpips and welcome ,
I checked it again but I did not see a problem , Please check other items
Attached Image (click to enlarge)
Click to Enlarge Name: Answer.png Size: 34 KB
be healthy and wealthy... Ceeport
  • #139
  • Jan 15, 2019 12:34pm Jan 15, 2019 12:34pm
Quoting rolandojno
I do not know if it's just happening to me, but neither the profit nor the SL are working on buying or selling the basket. maybe I could add Trailing stop. I'd be really grateful
hi rolandojno
I have not used SL and TP at the time of order , but you can use ProfitToClose and LossToClose
be healthy and wealthy... Ceeport
  • #140
  • Jan 17, 2019 4:18am Jan 17, 2019 4:18am
Quoting shahed58
{quote} hi Intrepidpips and welcome ,

Hey man I never did say thanks for your great work, kudos to you, keep up the good work you are appreciated.
Let it turn and find your entry.
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