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  • #81
  • May 8, 2019 1:00am May 8, 2019 1:00am
Quoting Erebus
{quote} I was just going to post about that, big gaps and the GBP had huge surge on Friday... I'm more of a trend trader, so I'm prepared to wait to see if these can be total reversal of trend as in the AUDJPY For me, I think not, there is AUD interest rate news tomorrow, so the higher the retracement, the better price for me to sell When the trend resumes down, of course, and showing on strength meter For now, I'm an observer, as Dashking said, too much spaghetti lines

Hello Erebus, regarding the cross at level 5. Do you wait or look for two currency that is weakest and the other as the strongest? Or just pick which currency is crossing the weakest from above at level 5? Also where did you get that fractal level indicator? Thanks
  • #82
  • May 8, 2019 1:11am May 8, 2019 1:11am
Quoting DashKing
And I noticed something about news impact on trades... Somehow . . The content are already on the charts before the release. .. Like the aud news release of yesterday.. . There seem to be a pre-plan on those charts before the actual news took place. ..(there is actually a preparation on charts before major high impact news release) When you understand market behavior I think .. News release is a great fast means of harvesting profit from this market. ..
You mean like the NZD news today?

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  • #83
  • May 8, 2019 1:35am May 8, 2019 1:35am
Quoting Erebus
{quote} You mean like the NZD news today? {image} {image}
Hello Erebus, regarding the cross at level 5. Do you wait or look for two currency that is weakest and the other as the strongest? Or just pick which currency is crossing the weakest from above at level 5? Also where did you get that fractal level indicator? Thanks
  • #84
  • May 8, 2019 2:54am May 8, 2019 2:54am
Quoting DashKing
{quote} Wow... Interesting to know .. .It would be so good we have a 'princess' birthed from this thread eventually... . You are such a good coder (respect). .i had subscribed to you for a long time now Let me know what info you would need side from the already outlined ... Regards. ...
Hi,

Is the volume indicator your last thing to look at after knowing what is the weakest/strongest? Thanks
  • #85
  • May 8, 2019 3:17am May 8, 2019 3:17am
Quoting DashKing
{quote} Wow... Interesting to know .. .It would be so good we have a 'princess' birthed from this thread eventually... . You are such a good coder (respect). .i had subscribed to you for a long time now Let me know what info you would need side from the already outlined ... Regards. ...
@ dashking, pls can M CANDLE indicator be put into multiple timeframe d1, wk and MN?
  • #86
  • May 8, 2019 3:55am May 8, 2019 3:55am
Quoting Yudax
{quote} Hello Erebus, regarding the cross at level 5. Do you wait or look for two currency that is weakest and the other as the strongest? Or just pick which currency is crossing the weakest from above at level 5? Also where did you get that fractal level indicator? Thanks
No, you won't get the perfect cross at 5 very often, just have to go with strongest vs weakest at the time

I use FractalsMod, found a thread about it here

https://www.forexfactory.com/showthread.php?t=705696
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  • #87
  • May 8, 2019 4:31am May 8, 2019 4:31am
Quoting Erebus
{quote} No, you won't get the perfect cross at 5 very often, just have to go with strongest vs weakest at the time I use FractalsMod, found a thread about it here https://www.forexfactory.com/showthread.php?t=705696

Thank you. Just want to clarify, do you sell what is the strongest and buy what is the weakest everyday? Or you hold some of your trades?
  • #88
  • May 8, 2019 7:06am May 8, 2019 7:06am
Quoting Yudax
{quote} Thank you. Just want to clarify, do you sell what is the strongest and buy what is the weakest everyday? Or you hold some of your trades?
I must admit I went a bit off track this week as I got seduced looking at this setup on 1-hour and 15-minute charts.

Which is why I didn't post very much charts.

However, I have seen the error of that thinking; I intend to stay with 4-hour charts.

The strength and weakness is much clear on them, as well as reading the CSM.

Another thing, I was thrown by the huge strength of the GBP on the previous Friday.

I fully expected that to continue, as many times these impulsive moves signal that continued price action direction.

So, I look at a 20 SMA as well, to help guide with trend, eg. Weekly, Daily and 4-hour all under the 20 SMA, I'm looking for sell entry.

That's another reason I was slow to see what the GBP pairs are doing; now, if this continues, next week can be awesome!
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  • #89
  • May 8, 2019 7:19am May 8, 2019 7:19am
@Dashking,

Hi there, good thread you started. As what you said, your waiting for a currency to be 0-1 or 9 in the currency meter. Does that mean you only take 1 trade per week? Thanks
  • #90
  • May 8, 2019 11:51am May 8, 2019 11:51am
Quoting Erebus
{quote} I must admit I went a bit off track this week as I got seduced looking at this setup on 1-hour and 15-minute charts. Which is why I didn't post very much charts. However, I have seen the error of that thinking; I intend to stay with 4-hour charts. The strength and weakness is much clear on them, as well as reading the CSM. Another thing, I was thrown by the huge strength of the GBP on the previous Friday. I fully expected that to continue, as many times these impulsive moves signal that continued price action direction. So, I look at a 20...
Make sense, also, are you looking around how many trades per week?
  • #91
  • May 9, 2019 7:25am May 9, 2019 7:25am
Quoting DashKing
the concept is so simple but every other concept of the market is put into consideration before trades are placed... for optimum results... i am a very open trader and i am growing too... many at times you have to come to terms with losing in this market before you can comfortably trade without unneccessary fear and anxiety that disrupt good trading ethics.... planning trades and trading according to plan can only come when you are confident of your self and your trading analysis... i have been having good results for weeks now and except for times...

Hi Dasking, I tried to see your results and its good, and if I May I ask, how do you pick a pair whenver you see for example EUR as strolling in 0-1 level?
  • #92
  • May 9, 2019 7:58pm May 9, 2019 7:58pm
Quoting Yudax
{quote} Make sense, also, are you looking around how many trades per week?
The more I study this and PRICE ACTION, I think the fewer trades will be better

As Dashking says in Post 1, it is for 4-hour charts; you can't really trade 4-hour intra-day

Well, you can, but the objective should be to enter and hold for a few days to catch the swing

I have been in touch with the magnificent SwingMan to discuss his marvelous indicator

There is a version that displays the lines for the 2 currency (1 pair) on the chart, I will attach, I MOD it for colors on dark background

I suggest to run it on 4-hour ONLY - it shows the strength from the weekly charts, uses too much computer resources on lower charts

So, let's discuss the EURGBP as an example, there were not many good pairs to trade cleanly this week

I don't see Dashking traded very much either

So, as I mentioned earlier, the huge power move of GBP on the Friday, I think it fooled or confused many traders

It takes a few days to settle down, I use Monday to see how the market is going, hardly enter any trades on Mondays

There is a crossover, how to trade it, what Price Action will trigger an entry for you?

To be continued if there is interest and response......

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File Type: mq4 smStrengthRange09_v4.1 MOD.mq4   45 KB | 1,414 downloads
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  • #93
  • May 9, 2019 11:59pm May 9, 2019 11:59pm
I have compare to other Currency Strength indicator, is it BUY/SELL when they cross over or follow Dking rules better? See 1H and 4H chart below
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  • #94
  • May 10, 2019 2:15am May 10, 2019 2:15am
Quoting Erebus
{quote} The more I study this and PRICE ACTION, I think the fewer trades will be better As Dashking says in Post 1, it is for 4-hour charts; you can't really trade 4-hour intra-day Well, you can, but the objective should be to enter and hold for a few days to catch the swing I have been in touch with the magnificent SwingMan to discuss his marvelous indicator There is a version that displays the lines for the 2 currency (1 pair) on the chart, I will attach, I MOD it for colors on dark background I suggest to run it on 4-hour ONLY - it shows the...
Im interested and willing to follow and test
  • #95
  • May 10, 2019 9:19am May 10, 2019 9:19am
Quoting Erebus
{quote} The more I study this and PRICE ACTION, I think the fewer trades will be better As Dashking says in Post 1, it is for 4-hour charts; you can't really trade 4-hour intra-day Well, you can, but the objective should be to enter and hold for a few days to catch the swing I have been in touch with the magnificent SwingMan to discuss his marvelous indicator There is a version that displays the lines for the 2 currency (1 pair) on the chart, I will attach, I MOD it for colors on dark background I suggest to run it on 4-hour ONLY - it shows the...
Nice modification on the strength meter... better visuals less cluster.... great !
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D-kings lengend trades All Time Pips: 3,675
  • #96
  • Edited 9:53am May 10, 2019 9:24am | Edited 9:53am
Quoting Yudax
{quote} Hi Dasking, I tried to see your results and its good, and if I May I ask, how do you pick a pair whenver you see for example EUR as strolling in 0-1 level?
Yudax timing is a very important factor in reading the strength meter... just take out time and observe the indicator relative price action... it is a good place to begin
Wisdom dwells with prudence discovering the knowledge of witty inventions
D-kings lengend trades All Time Pips: 3,675
  • #97
  • May 10, 2019 9:32am May 10, 2019 9:32am
testing out newer possibilities of signals with mid week signals proving legendary too

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Wisdom dwells with prudence discovering the knowledge of witty inventions
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  • #98
  • Edited 3:17pm May 10, 2019 2:58pm | Edited 3:17pm
Less than 48 hours swing trade result. . Mid week trades not too bad.. .☺
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Wisdom dwells with prudence discovering the knowledge of witty inventions
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  • #99
  • May 11, 2019 8:49pm May 11, 2019 8:49pm
Quoting DashKing
{quote} Nice modification on the strength meter... better visuals less cluster.... great !
Yes, it is very clear now, another thing with the EURGBP as posted, you should always look to the GBPCHF at the same time

Especially when Trump is tweeting and the USD is unpredictable, the JPY is non-committed

I cannot post a link here, but Google for The beauty of EURGBP and GBPCHF forex pairs

It was a very mixed week and yet these yielded the best opportunity IMHO

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  • #100
  • May 13, 2019 8:00am May 13, 2019 8:00am
@Dashking,

Not sure why are selling YEN ?

It's Risk Off, need to be buying YEN

Which means sell the pairs, eg, Sell AUD, Buy JPY (YEN)

Good luck

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