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  • #2,521
  • Jun 4, 2019 12:35am Jun 4, 2019 12:35am
Quoting robots4me
{quote} @Robot Trader -- regarding correlated pairs, something else occurred to me. Let's take EURUSD and USDCHF -- very high reverse correlation, right? But if you were to monitor their fraction ADR they would parallel one another most of the time (since ADR does not take into account direction) -- which isn't too interesting. On the other hand, it could be that on those rare occasions when they don't track with one another then that's when a signal occurs that you want to take note of. I don't know -- I'm just saying this because I don't want...
I have attached screenshot of my Correlation chart, so USDCHF v EURUSD would be called Negative Correlation and yes most of the time they are in sync (by X percentage), so I am only interest when they come out of sync and then look to trade them back to the Mean.

But there are variables because the Mean is dynamic (so both pairs will not be returning to where they started, there will be a new Mean) and which was the dominant pair which took them out of sync, so maybe the ADR might give a clue to which was the more dominant pair.

I trade them by opening a Buy/Sell and look for them to return to the dynamic Mean, but on a equal lot size basis (neither pair are weighted to offset the dominant pair) apart from allowing for the Forex account currency.

So would your type of ADR Histogram Indicator looking at pairs A & B give any additional information about the dominant pair and how better to trade it.
Attached Image (click to enlarge)
Click to Enlarge Name: Correlation Chart.JPG Size: 312 KB
Some people say I'm lucky, but the more I practice the luckier I get
  • #2,522
  • Jun 4, 2019 12:48am Jun 4, 2019 12:48am
Quoting Robot Trader
{quote} I have attached screenshot of my Correlation chart, so USDCHF v EURUSD would be called Negative Correlation and yes most of the time they are in sync (by X percentage), so I am only interest when they come out of sync and then look to trade them back to the Mean. But there are variables because the Mean is dynamic (so both pairs will not be returning to where they started, there will be a new Mean) and which was the dominant pair which took them out of sync, so maybe the ADR might give a clue to which was the more dominant pair. I trade...
A multiple pair line adr(in sync) overlay each other will be great visual to identify dominant pairs.
  • #2,523
  • Edited 2:34am Jun 4, 2019 12:56am | Edited 2:34am
Quoting skyway
{quote} A multiple pair line adr(in sync) overlay each other will be great visual to identify dominant pairs.

The complete aid Dashboard would include.

Multi Pair ADR. To identify over bought or oversold
Multi Pair ATR. To identify Over bough or oversold over a larger or smaller TF than 24H ADR.
Multi Pair Tick speed / tick speed average. This would replace the TMA. Since the TMA is just a volatility indicator.

All these multi tools would ofcourse only be of interest if one likew to trade multiple pairs instead of focusing on 1 pair.
// Jim Ægirson https://discord.gg/Dkm3demYsx
  • #2,524
  • Jun 4, 2019 12:57am Jun 4, 2019 12:57am
Quoting skyway
{quote} A multiple pair line adr(in sync) overlay each other will be great visual to identify dominant pairs.
Yes that would be good but displaying an overlay for 2 currency pairs on the same chart we have the problem that they are not on the same Axis, which can give misleading information
Some people say I'm lucky, but the more I practice the luckier I get
  • #2,525
  • Jun 4, 2019 12:57am Jun 4, 2019 12:57am
Quoting pipcruiser
{quote} R4M again thanks a lot. I hate to be so demanding but does it alert to mobile as well? I mean my point with the alert feature was to have less screen time and hence the suggested alert feature to mobile would be awesome.. re. : "MM-AdrTmaIndi -- an indicator that combines both ADR and TMA" - this will be very interesting - great minds think alike.. Thanks again PC
@pipcruiser -- to be honest, I'm not familiar with how MT4 pushes alerts to mobile devices. I don't use mobile devices for trading. From Googling I found this link:
https://help.fxcm.com/uk/Platforms/MetaTrader-4/Trading-with-MetaTrader-4/927113783/How-do-i-get-mobile-price-alerts-with-MT4.htm

It looks to me like this is something you'd configure from within your desktop / laptop MT4 session -- which makes sense. That way whatever alerts or notifications appear on your desktop / laptop MT4 session automatically get pushed to your mobile device and it wouldn't require any modifications to an existing indicator or EA.
  • #2,526
  • Jun 4, 2019 1:03am Jun 4, 2019 1:03am
Quoting robots4me
This is a continuation of post #2475 where I explained the role of the ADR indicator. In this post I will explain how I use the TMA indicator. First -- not all TMA indicators are created equal. For example, there are TMA indicators that repaint and those that do not. There is nothing inherently wrong with repainting and it may actually suit certain applications. However, in our case, repainting is not desirable. I've tested a number of non-repainting TMA indicators and my favorite is the one @Nih98 has made available. The name of his TMA indicator...

If we look left, there are 3 factors that would explain this move and also show entry location.

N 1. The lack of Liquidity to the left (huge daily gap)
N 2. The speed price moves into a level (the higher the volatility the less the liquidity)
N 3. Liquidity area to the left would indicate a good entry position. Not before .


This is the daily TF of the area to the left where the price run hit.

The more o study the TMA stuff, I realize I trade the same way. But without indicators, using the concepts of Liquidity and Volatility.

Very interesting.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20190604-075913.jpg Size: 371 KB
// Jim Ægirson https://discord.gg/Dkm3demYsx
  • #2,527
  • Jun 4, 2019 1:41am Jun 4, 2019 1:41am
Quoting robots4me
MM-AdrTmaIndi -- an indicator that combines both ADR and TMA
I'm SO looking forward to this one, if it's not to much work then please add an alert for this one. Anyway, in the case it is to much work I will still put in the hours to manually backtest this one, I already had great results with trading of the TMA zones from NIH's template, adding ADR and possibly later on the MM-dedective for stop-loss targets should bring amazing entries and results.

Thanks again for the time you are putting into making and adjusting these indicators, I will make sure to put in the time to backtest all of them!
  • #2,528
  • Jun 4, 2019 1:42am Jun 4, 2019 1:42am
Quoting SirOrigami
{quote} If we look left, there are 3 factors that would explain this move and also show entry location. N 1. The lack of Liquidity to the left (huge daily gap) N 2. The speed price moves into a level (the higher the volatility the less the liquidity) N 3. Liquidity area to the left would indicate a good entry position. Not before . This is the daily TF of the area to the left where the price run hit. The more o study the TMA stuff, I realize I trade the same way. But without indicators, using the concepts of Liquidity and Volatility. Very interesting....
@SirOrigami -- thanks for the post but all I see are bars. When you mention the 3 factors liquidity, speed, volatility I have no clue what you are referring to. A few arrows to point at what you are talking about would help a lot.

How about starting over and pretend I'm your grandmother. How would you explain it to her? Where do you see liquidity, speed and volatility on the chart?
  • #2,529
  • Jun 4, 2019 2:27am Jun 4, 2019 2:27am
Quoting Robot Trader
{quote} I have attached screenshot of my Correlation chart, so USDCHF v EURUSD would be called Negative Correlation and yes most of the time they are in sync (by X percentage), so I am only interest when they come out of sync and then look to trade them back to the Mean. But there are variables because the Mean is dynamic (so both pairs will not be returning to where they started, there will be a new Mean) and which was the dominant pair which took them out of sync, so maybe the ADR might give a clue to which was the more dominant pair. I trade...
Quoting skyway
{quote} A multiple pair line adr(in sync) overlay each other will be great visual to identify dominant pairs.
Quoting SirOrigami
{quote} The complete aid Dashboard would include. Multi Pair ADR. Multi Pair ATR. Multi Pair Tick speed / tick speed average.
Hey guys -- slow down. One step at a time. I appreciate the interest but when you post comments like this then I start getting PM's from people asking why I am letting the thread get out of control again.

If you wish to brainstorm some ideas that's fine -- but please take them offline. The thread is not for brainstorming -- I'm only interested in concrete observations and evidence.

Take a look at rosalieone's chart back at post #2300 (https://www.forexfactory.com/showthr...2#post12303112 (https://www.forexfactory.com/showthread.php?p=12303112#post12303112)). It was really easy to understand and it opened a door.

Or consider the way @Nih98 posts. He includes charts with arrows and explanations. And English is not his native language. He takes pride in what he posts and he really wants people to understand what he is saying.

@Robot Trader -- I know the chart you posted has meaning for you but what am I or others suppose to do with it?
@skyway, @SirOrigami -- you throw ideas out there with no context or explanation why they have value. It's like throwing spaghetti at a wall and hope something of it sticks.

Pretend that your grandkids will one day read what you posted here and you want them to be proud of you. Not only am I requesting that you take into consideration that a post requires some context, but you should also want to make it easy for the rest of us to understand. Otherwise it just becomes more background noise.

I don't like micromanaging the thread or playing policeman -- it's a waste of my time and mentally draining. The more care people put into their posts then the less time I have to spend micro-managing it, the more valuable the thread becomes and the further we can go.
  • #2,530
  • Jun 4, 2019 2:40am Jun 4, 2019 2:40am
Quoting robots4me
{quote} {quote} {quote} Hey guys -- slow down. One step at a time. I appreciate the interest but when you post comments like this then I start getting PM's from people asking why I am letting the thread get out of control again. If you wish to brainstorm some ideas that's fine -- but please take them offline. The thread is not for brainstorming -- I'm only interested in concrete observations and evidence. Take a look at rosalieone's chart back at post #2300 (https://www.forexfactory.com/showthr...2#post12303112 (https://www.forexfactory.com/showthread.php?p=12303112#post12303112))....
Yes you are correct. It was unrelated to the thread. I updated what I meant if it's of interest anyways.

Regarding the 3 things. I will send a chart to show exactly what I mean later.
// Jim Ægirson https://discord.gg/Dkm3demYsx
  • #2,531
  • Jun 4, 2019 2:40am Jun 4, 2019 2:40am
Quoting robots4me
{quote} @pipcruiser -- to be honest, I'm not familiar with how MT4 pushes alerts to mobile devices. I don't use mobile devices for trading. From Googling I found this link: https://help.fxcm.com/uk/Platforms/MetaTrader-4/Trading-with-MetaTrader-4/927113783/How-do-i-get-mobile-price-alerts-with-MT4.htm It looks to me like this is something you'd configure from within your desktop / laptop MT4 session -- which makes sense. That way whatever alerts or notifications appear on your desktop / laptop MT4 session automatically get pushed to your...
Bro @Robots4me, there's 2 steps to create alert to mobile phones, 1st we should install MT4 mobile into our mobile phones, get the MT4 ID, then put the MT4 ID into the Laptop/Dekstop PC/VPS. 2nd, from custom indicators coding, we must put code to send 'Push Notification' from our laptop/desktop PC/VPS to our Mobile Phone MT4. like this;

Inserted Code
void  doAlert(int forBar, string doWhat)
      {
      static string   previousAlert="nothing";
      static datetime previousTime;
      string message;
  
      if (previousAlert != doWhat || previousTime != Time[forBar])
         {
         previousAlert  = doWhat;
         previousTime   = Time[forBar];
         message =  StringConcatenate(Symbol()," at ",TimeToStr(TimeLocal(),TIME_SECONDS)," "+timeFrameToString(timeFrame)+" TMA bands price penetrated ",doWhat," band");
         if (alertsMessage)      Alert(message);
         if (alertsNotification) SendNotification(message); // this will send message content to our mobile phone
         if (alertsEmail)        SendMail(StringConcatenate(Symbol(),"TMA bands "),message);
         if (alertsSound)        PlaySound("alert2.wav");
         }
      }

For example of the above complete alert application here is my TMA centered bands mq4 code. (sorry for old style coding list)..
Attached File(s)
File Type: mq4 ! NIH98 !TMA Centered Multi Bands Indi.mq4   23 KB | 1,655 downloads


Hope it Helps
NIH
Dog + Smile = Beautiful Day
  • #2,532
  • Jun 4, 2019 2:56am Jun 4, 2019 2:56am
Quoting robots4me
{quote} @SirOrigami -- thanks for the post but all I see are bars. When you mention the 3 factors liquidity, speed, volatility I have no clue what you are referring to. A few arrows to point at what you are talking about would help a lot. How about starting over and pretend I'm your grandmother. How would you explain it to her? Where do you see liquidity, speed and volatility on the chart?
If we look left, we will find exact turning point of price,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 16 KB
Click to Enlarge Name: Screenshot2.png Size: 23 KB
// Jim Ægirson https://discord.gg/Dkm3demYsx
  • #2,533
  • Jun 4, 2019 3:01am Jun 4, 2019 3:01am
Now that we know, that that area has been filled, and the liquidity there was taken, we know that the next push down will most likely go to the next area of Liquidity,

what we want in this case is,

1: A fast MOVE, (a gap slip) into an area of liquidity

this would also be shown by the Price breaking TMA lines, or without indicators it would look like a sharp move,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 16 KB
Click to Enlarge Name: Screenshot3.png Size: 15 KB
// Jim Ægirson https://discord.gg/Dkm3demYsx
  • #2,534
  • Jun 4, 2019 3:24am Jun 4, 2019 3:24am
Quoting robots4me
{quote} {quote} {quote} Hey guys -- slow down. One step at a time. I appreciate the interest but when you post comments like this then I start getting PM's from people asking why I am letting the thread get out of control again. If you wish to brainstorm some ideas that's fine -- but please take them offline. The thread is not for brainstorming -- I'm only interested in concrete observations and evidence. Take a look at rosalieone's chart back at post #2300 (https://www.forexfactory.com/showthr...2#post12303112 (https://www.forexfactory.com/showthread.php?p=12303112#post12303112))....
Hi R4M,

The charts show how I trade correlated pairs that are out of sync, you will see they both traveled back to the Mean, but one gained 105 pips while the other gained 47 pips, so one was more dominant than the other.

So regardless of whether you trade correlation between 2 pairs like I do or not, there are still advantages in knowing which is the more dominant currency when the market starts to make its moves. Which might been shown more globally with your next Multi Indicator with its 28 pairs.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD 105 pips.JPG Size: 228 KB
Click to Enlarge Name: USDCHF 47 pips.JPG Size: 205 KB
Some people say I'm lucky, but the more I practice the luckier I get
  • #2,535
  • Jun 4, 2019 3:31am Jun 4, 2019 3:31am
Quoting Nih98
{quote} Bro @Robots4me, there's 2 steps to create alert to mobile phones, 1st we should install MT4 mobile into our mobile phones, get the MT4 ID, then put the MT4 ID into the Laptop/Dekstop PC/VPS. 2nd, from custom indicators coding, we must put code to send 'Push Notification' from our laptop/desktop PC/VPS to our Mobile Phone MT4. like this; void doAlert(int forBar, string doWhat) { static string previousAlert="nothing"; static datetime previousTime; string message; if (previousAlert != doWhat || previousTime != Time[forBar]) { previousAlert...
Hi @Nih98 -- thanks, this looks simple enough. I think all I need to add is a call to "SendNotification(message);" at the same place where I currently call "Alert(message);"

Thank you for making it easy!
  • #2,536
  • Jun 4, 2019 3:54am Jun 4, 2019 3:54am
I've updated the MM-ADRHistIndi indicator to include both regular Alerts and also SendNotifications (to mobile devices). The updated version of the indicator is bundled in the *.zip file located in the "Custom Indicators for TMA-ADR Reversal Trading and BBMA" thread. Here's a link:
https://www.forexfactory.com/showthread.php?t=920925

Since I don't use a mobile device for trading then I haven't tested this. I'd be curious to know one way or another if it works.
  • #2,537
  • Jun 4, 2019 4:20am Jun 4, 2019 4:20am
Quoting robots4me
I've updated the MM-ADRHistIndi indicator to include both regular Alerts and also SendNotifications (to mobile devices). The updated version of the indicator is bundled in the *.zip file located in the "Custom Indicators for TMA-ADR Reversal Trading and BBMA" thread. Here's a link: https://www.forexfactory.com/showthread.php?t=920925 Since I don't use a mobile device for trading then I haven't tested this. I'd be curious to know one way or another if it works.
I just want to put in here. You don't have to trade on your mobile, you just get alert via your mobile device so you don't have to be in from of your PC, and then you go to your PC and look at that chart and decide if you want to take a trade. Or you can use VPS and then you can trade on the go via your mobile device when you connect to your VPS via RD client ( Remote Desktop) on your mobile and trade just as you are on your PC.
  • #2,538
  • Jun 4, 2019 4:24am Jun 4, 2019 4:24am
Quoting robots4me
I've updated the MM-ADRHistIndi indicator to include both regular Alerts and also SendNotifications (to mobile devices). The updated version of the indicator is bundled in the *.zip file located in the "Custom Indicators for TMA-ADR Reversal Trading and BBMA" thread. Here's a link: https://www.forexfactory.com/showthread.php?t=920925 Since I don't use a mobile device for trading then I haven't tested this. I'd be curious to know one way or another if it works.
Thanks so much!

I confirm it works, I get push notifications on my mobile phone (I have MT4 with the indicator running on my VPS).

Then after I get an alert - I check charts on my PC, so as mentioned above, its just a very cool "alerter" to go check the charts on my trading PC.

Thanks again

PC
Less is more...
  • #2,539
  • Jun 4, 2019 4:48am Jun 4, 2019 4:48am
Quoting majamivice
{quote} I just want to put in here. You don't have to trade on your mobile, you just get alert via your mobile device so you don't have to be in from of your PC, and then you go to your PC and look at that chart and decide if you want to take a trade. Or you can use VPS and then you can trade on the go via your mobile device when you connect to your VPS via RD client ( Remote Desktop) on your mobile and trade just as you are on your PC.
Exactly what I do most of the time.
  • #2,540
  • Jun 4, 2019 4:55am Jun 4, 2019 4:55am
Quoting robots4me
Since I don't use a mobile device for trading then I haven't tested this. I'd be curious to know one way or another if it works.
I'm hardly at my computer except to run my EA. Everything is on my phone apps, G5 is at the door. Trading from mobile device anywhere, anytime is the now and future. Keep your elderly self up to speed.
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