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Basket Knights - A Basket Trading Round Table

  • #1,041
  • Nov 28, 2019 1:26am Nov 28, 2019 1:26am
Quoting robots4me
{quote} @Blaiserboy -- I have another take on this. I think the Index plays an important role. For example, while C14 was delayed, RB7 was several bars ahead (of C14). The make-up of the Index and how well the index pairs play with one another and their inter- or counter-dependencies probably affects how prom...
Hello Steve,

Do you also have the same DD as bishopdotun? I ask because you have Group A and Group B pairs.
Did it help you to cut losses?

Thank you.
  • #1,042
  • Nov 28, 2019 1:54am Nov 28, 2019 1:54am
Hi.

I found a later version of the EA that I uploaded yesterday. This is the same but the currency basket and other data are indicated: name of EA, equity, capital, lot, indicator period ...

Thanks.
Attached File(s)
File Type: mq4 Basket_HASArrow_C5_R1.mq4   27 KB | 314 downloads
File Type: mq4 Basket_HASArrow_C12_R1.mq4   34 KB | 309 downloads
  • #1,043
  • Nov 28, 2019 1:54am Nov 28, 2019 1:54am
Quoting Blaiserboy
{quote}...I placed that NH98 Template on C5 4 hour to see what I can glean from that as days pass...
Please let us know what you are able to glean from your observations.

I personally lean more towards what Dave mentioned above about adapting to the market as it evolves.

Tidane works. You just need to know (guess? decipher?) when the market has changed so that you can adapt your readings from TD to better suit the current Price Action...

I see it like driving a Land Rover LR4 on a desert terrain using the desert settings...and then getting into a mountainous terrain...If you are unaware of the change in terrain...well guess what?

The same car can handle all terrains BUT:

1. YOU need to be able to decipher the change and adapt accordingly

2. You need a better (i.e. smarter) VEHICLE with the ability to decipher the change and adapt accordingly

Put simply: You decipher and adapt Tidane OR you get a smarter "Tidane" to auto-decipher and auto-adapt.

I'm HOPING we can all work together as Basketters to achieve either (or both) options.

Regards and Stay fluid,

Ty
Attached Image
My job: I speculate and manage risk.
  • #1,044
  • Nov 28, 2019 1:55am Nov 28, 2019 1:55am
Quoting MrAlex
{quote} Hello Steve, Do you also have the same DD as bishopdotun? I ask because you have Group A and Group B pairs. Did it help you to cut losses? Thank you.
@MrAlex -- I don't know how to answer a question like that. I don't compare my trades with @bishopdotun's. @bishopdotun is a much superior trader than me.
  • #1,045
  • Nov 28, 2019 2:19am Nov 28, 2019 2:19am
Quoting artico01
Hi. I found a later version of the EA that I uploaded yesterday. This is the same but the currency basket and other data are indicated: name of EA, equity, capital, lot, indicator period ... Thanks. {file} {file}
Have you been testing this? If so how is it working out for you? I generally prefer a semi-auto approach, a dashboard-type environment giving info and alerts, I take the trade the tools then manage it.
EX BBMA trader focusing on REE code.
  • #1,046
  • Nov 28, 2019 4:16am Nov 28, 2019 4:16am
Quoting Simontw
{quote} Have you been testing this? If so how is it working out for you? I generally prefer a semi-auto approach, a dashboard-type environment giving info and alerts, I take the trade the tools then manage it.
Check out this thread: https://www.forexfactory.com/showthread.php?t=695101

This inidcators and EA are, for me, one of the best for currency baskets. For semi-auto and dashboard trading.

Thanks.
  • #1,047
  • Edited 4:48am Nov 28, 2019 4:20am | Edited 4:48am
Hi guys,
I'm very busy to trade and my English is not good either. Let me make a small comment.

by Bishop:

RB7 Basket Pairs: CADJPY, AUDJPY, NZDJPY, EURJPY, AUDUSD, USDJPY, NZDUSD: Used to build the index chart

Group A: CADJPY, AUDJPY, NZDJPY, EURJPY, AUDUSD, USDJPY, NZDUSD, EURUSD, AUDCAD, NZDCAD: Main trend

Group B: AUDNZD, EURNZD, EURCAD, EURCAD, USDCAD: Opposite Trend

So we trade a total of 15 pairs. The number of pairs can be significantly reduced. E.g:

CADJPY x AUDCAD = AUDJPY
etc.

If we continue this way, we will get a position for index long:

BUY: 2x AUDJPY, AUDUSD, 2x NZDJPY, NZDUSD
SELL: USDCAD, EURNZD

ie 6 pairs of different volume.

Perhaps I am not mistaken and we can save a little effort :-).

Thank you all for great work!
  • #1,048
  • Nov 28, 2019 7:19am Nov 28, 2019 7:19am
Quoting TyLamai
{quote} Someone might be interested in this indie... {image} Now...it's waaaayyy past my bedtime. Holler at y'all later! Regards and Stay fluid, Ty {file}
Excellent Ty! More source code to the thread. Here is a great little indicator by one of the great contributors on FF. Little bit more "lipstick" but I find it useful as well. Swap data works just my demo broker don't send the info.

Dave
Attached Image
Attached File(s)
File Type: mq4 DailyDate3_1.mq4   45 KB | 356 downloads
K.I.S.S.
  • #1,049
  • Nov 28, 2019 8:06am Nov 28, 2019 8:06am
Quoting eduarescobar
and howto I obtain the chart #C8#H8,...
Here are the steps to create an offline chart from scratch.

1. Right-click anywhere on your Desktop.
2. Hover with the mouse pointer over “New” and select “Text Document”.
3. You will immediately be given the option to name your file. Name it #BSKT8.
4. Open the new file and copy & paste the following text into that new text document:

8

AUDJPY

AUDUSD

EURJPY

EURUSD

GBPJPY

GBPUSD

NZDJPY

NZDUSD


5. Save & close the document.
6. Open MT4 Data Folder
7. Go to: \MQL4\Files
8. Drag the newly created #BSKT8.txt file from your Desktop into the Files folder.
9. In MT4, open a blank GBPJPY M1 chart.
10. Drag “Basket_Create_v3_670et” indicator into the GBPJPY M1 chart and change the settings according to the desired time frame that you want to create. For an H1 offline chart of the C8 Basket, change the settings to the following:
Attached Image

When you are done making changes, click OK.

11. In the top toolbar on your MT4 screen, click File--> Open Offline and you will see the following offline chart:
#C8#08,H1
Double-click on it to open the chart.
12. Your newly created offline chart will now open and you can apply your favourite indicators to it.
13. You don’t have to repeat all the above steps to open a different TF of the C8 Basket, since you’ve already created the #BSKT8.txt file once. To create a different TF of your C8 basket, repeat steps 10-12 above, changing only the TF and MaxBars. Use the same GBPJPY M1 chart to drag the rest of your Basket_Create_v3_670et indicators into. The following recommended TF’s and MaxBars can be used to minimize the use of system resources.

TF --> 1, Max Bars --> 2900

TF --> 5, Max Bars --> 2020

TF --> 15, Max Bars --> 1000

TF --> 30, Max Bars --> 1000

TF --> 60, Max Bars --> 1000

TF --> 240, Max Bars --> 850

TF --> 1440, Max Bars --> 500


14. To create a completely different basket with other pairs, repeat all the above steps.
Attached File(s)
File Type: ex4 Basket_Create_v3_670et.ex4   21 KB | 366 downloads


Quoting eduarescobar
... the indicator you share in the thread, BaskertChart2, is use in a normal chart not the offline, rigth...
BasketChart2 indi works with online and offline charts. I won't be sharing EAX templates and settings in this thread, but I can tell you that your EAX looks fine. For basket trading, you only need the buttons I circled in post #890: LongAll, ShortAll, CloseAll

You asked for a chart template, but my indi's are set for my broker candles so won't work for everybody. Attached are the indicators I used in those charts so you can adjust them to work for you.

Attached File(s)
File Type: mq4 Auto_Sessions_v2.9.mq4   99 KB | 353 downloads

Attached File(s)
File Type: mq4 CCI CustomCandles2_alerts.mq4   9 KB | 364 downloads

Attached File(s)
File Type: mq4 daily_open_line.mq4   2 KB | 350 downloads

Attached File(s)
File Type: mq4 NonLagMA v71.mq4   13 KB | 350 downloads

Attached File(s)
File Type: mq4 TicksSeparateVolumeDif.mq4   10 KB | 367 downloads



Cheers,

Lee
Fix your thoughts on what is true, and honorable, and right, and pure...
  • #1,050
  • Nov 28, 2019 10:15am Nov 28, 2019 10:15am
(Bloomberg) -- North Korea fired what appeared to be two short-range ballistic missiles on Thursday, a move that comes as it has threatened to walk away from sputtering nuclear talks unless President Donald Trump offers up concessions by year-end.

Don't ever let your guard down during the holidays. Most will say Holiday trading is worthless. I say unless you have a crystal ball maybe...lol

Dave
K.I.S.S.
  • #1,051
  • Nov 28, 2019 10:18am Nov 28, 2019 10:18am
Quoting LifeHunt3r
{quote} Here are the steps to create an offline chart from scratch. 1. Right-click anywhere on your Desktop. 2. Hover with the mouse pointer over “New” and select “Text Document”. 3. You will immediately be given the option to name your file. Name it #BSKT8. 4. Open the new file and copy & paste the following text into that new text document: 8 AUDJPY AUDUSD EURJPY EURUSD GBPJPY GBPUSD NZDJPY NZDUSD 5. Save & close the document. 6. Open MT4 Data Folder 7. Go to: \MQL4\Files 8. Drag the newly created #BSKT8.txt file from your Desktop into the Files...
Nice Lee, Even mode source code to the thread outside of the Seller9 script. Plenty of other working Basket/Renko scripts around with code.

Dave
K.I.S.S.
  • #1,052
  • Nov 28, 2019 10:47am Nov 28, 2019 10:47am
Quoting fmsfx
(Bloomberg) -- North Korea fired what appeared to be two short-range ballistic missiles on Thursday, a move that comes as it has threatened to walk away from sputtering nuclear talks unless President Donald Trump offers up concessions by year-end. Don't ever let your guard down during the holidays. Most will say Holiday trading is worthless. I say unless you have a crystal ball maybe...lol Dave
RE: Holiday trading...

I would usually expect:

1. Low liquidity - Nothing can be done about those because we get them too during non-holiday periods (especially when there's some kind of high impact news upfront)

2. CRAZY mono-directional moves which defy logic - I "hear" that these moves happen because the MAIN guys manning the books have handed over to their "underlings" and taken off for the holidays. Now the boys get to STRETCH price (within reason) as far as they can legally go.

EITHER way, I try to enter my trades as close to flip-zones as I possibly can so that I can HOLD through the chaos (as long as the reason for my entry remains valid). Unfortunately this is not always possible because MANY times the Indexes give signals when the move is already underway and IF something happens to reverse that move midstride, then you are sitting on a deep retrace to the flip-zone!

One thing is SURE: we, as traders, control ONLY how much we are willing to risk. Everything else is beyond our control...except, of course, if we posses that crystal ball you speak about!

Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,053
  • Nov 28, 2019 10:51am Nov 28, 2019 10:51am
Hi Lee,

Thank you very much, I have a lot to read and study with the data you have generously shared. Greetings from Paraguay
  • #1,054
  • Nov 28, 2019 8:16pm Nov 28, 2019 8:16pm
Quoting LifeHunt3r
{quote} Here are the steps to create an offline chart from scratch. 1. Right-click anywhere on your Desktop. 2. Hover with the mouse pointer over “New” and select “Text Document”. 3. You will immediately be given the option to name your file. Name it #BSKT8. 4. Open the new file and copy & paste the following text into that new text document: 8 AUDJPY AUDUSD EURJPY EURUSD GBPJPY GBPUSD NZDJPY NZDUSD 5. Save & close the document. 6. Open MT4 Data Folder 7. Go to: \MQL4\Files 8. Drag the newly created #BSKT8.txt file from your Desktop into the Files...
Thank you for the detailed explanation
  • #1,055
  • Nov 29, 2019 4:17am Nov 29, 2019 4:17am
Fundies: Truths and Rumours.


"GBP: Light at the end of the tunnel

The outlook for the pound all hinges on Brexit

Current pre-election polls suggest GBP strength over the next few months
The GBP outlook for the coming one to three months primarily hinges on the outcome of the 12 December Parliamentary elections and its implications for the Brexit path. As current polls are predicting a non-negligible lead of the Conservative Party (and it achieving a Parliamentary majority) such an outcome should be beneficial for sterling as it would sharply increase the odds of the Withdrawal Agreement being ratified in Parliament and thus reduce the Brexit uncertainty. We expect EUR/GBP to reach 0.83 (and GBP/USD to 1.33) over the next two months.

Transition period uncertainty to tame GBP upside in 2Q20…
Yet, the Withdrawal Agreement being passed in Parliament and the UK leaving the EU early next year (by January – albeit still within the transition period parameters) do not mean GBP firing on all cylinders and a pronounced GBP rally.

First, the market is already partly expecting a GBP positive outcome (as Figure 39 shows, GBP trades with a modest premium vs EUR based on our short-term financial fair value model). So while positive, more Brexit clarity should lead to a less pronounced GBP rally compared to the one observed this October when GBP corrected from stretched (Figure 39) and oversold (Figure 40) levels. As for the speculative positioning, it is now also less stretched than it was prior to the October GBP rally (Figure 40 again).

Second, once the UK withdraws from the EU, the hard work of negotiating trade deals with its international partners begins (including the EU). With the current transition period set to expire by the end of 2020, this means less than a year (assuming the UK leaves by end-January 2020) for the UK to conclude the new (and necessary) trade deals. We see it as highly unlikely for the UK to conclude such complex deals within such a relatively short period of time. Hence, the extension of the transition period beyond 2020 (likely to 2022 as a starting point) will be necessary, in our view. If the transition period is not extended and the new trade deals are not in place, this would be equivalent to a hard Brexit (by end-2020).

…as extension will be necessary but the path towards it won’t be straightforward
The question of the extension and the associated conditions (as the extension won’t come for free) will, in our view, tame GBP upside during a significant part of the second quarter of 2020 (and possibly third quarter if the negotiations about the extension drag on). We expect the EU to be open to prolonging the transition period, but in return it will likely require the UK to contribute to the EU budget (as enjoying the access to the EU single market for little longer would not come for free). The EU budget payments are likely to be fairly unpopular and a contentious issue in the UK Parliament, very likely to be opposed by the pro-Brexit/anti-EU wing of the Conservative Party.

Some degree of uncertainty about the transition period extension therefore should, in our view, lead to some reversal of GBP post-election gains. We also note that a thin Conservative Party majority is likely to lead to a larger reversal of GBP gains in 2Q20 than would be the case under a large Conservative majority outcome as it would increase the risk of the transition period being not (easily) extended - as hard-line pro-Brexit MPs (mainly from the ERG) – would have issues with EU budget payments.

While all the above is heavily scenario-conditional and still some time away (we need to see the election outcome first) the issue of extending the transition period is, in our view, another risk event for GBP and should therefore tame the potential optimism in the case of the Parliament successfully ratifying the Withdrawal Agreement and the UK leaving the EU. That’s why we kink EUR/GBP and GBP/USD profiles, pencilling initial GBP strength (next 1-3 months) and some reversal in 2Q20.

2H20 outlook: Less uncertainty but also less mispricing
Assuming the UK will avoid a hard Brexit and achieves the extension of the transition period by June 2020 (in our view, the EU will want to know by this deadline whether the UK contribute to the budget in order to be able to plan for the new EU budget) or a little later, we expect sterling to settle at stronger (yet not too strong) levels later in 2020. EUR/GBP to reach around 0.82 level and GBP/USD around 1.38 by end 2020.

On the positive side, both the passage of the Withdrawal Agreement and the transition period extension will take away some degree of Brexit uncertainty. With the transition period extended to 2022, this can give some breathing room to the economy and should cause the market to price out the currently pencilled in partial BoE cut (Figure 41 - and even potentially price in a partial hike) if the new government runs loose fiscal policy.

No spectacular economic growth…
On the less positive side, two factors should prevent a meaningful GBP rally. First, the economic growth will remain subdued in 2020. Our economists pencil in growth around 1.2% next year (Figure 42), due in part to the constrained investment as 2020 will still feature plenty of uncertainties (such as the issue of extending the transition period). This should restrict the BoE from delivering actual hikes next year.

…and no spectacular GBP valuation
Second, compared to conventional wisdom, we don’t see GBP as materially undervalued based on our medium-term BEER valuation framework (Figure 43). Not only has GBP rallied recently but also its fair value has declined over recent quarters. The latter should not come as a surprise as Brexit uncertainty has weighed heavily on the UK economy (translating into sub-optimal growth) and translated into a deterioration of GBP fair value vs EUR of 8-9% since 2017. As Figure 44 shows, this was primarily driven by the worsening relative current account position of the UK. Sterling's fair value decline against the US dollar has been even larger than was the case against the euro as this has been further exaggerated by the drop in EUR/USD fair value.

EUR/GBP at 0.82 would actually bring the cross into modestly undervalued territory (ie, modestly expensive GBP). The lack of a meaningful medium-term undervaluation should limit the scale of GBP upside (compared to early October, when EUR/GBP at 0.93 screened almost 10% overvalued and thus had plenty of potential for a sharp decline).

Better year for sterling ahead, but it won’t be a smooth ride
In short, given our assumptions (Conservative Party election victory, Withdrawal Agreement passed by January 2020, transition period extended), next year should deliver stronger sterling vs 2019. Yet, it won’t be a smooth ride, bumps in the form of question marks about the transition period are ahead and GBP is not as cheap as it was earlier in the year. This suggests contained GBP upside vs EUR, but upside nonetheless. Against USD, sterling should record more gains due, in part, to our modestly higher EUR/USD in 2H20 (at 1.13). This means that GBP should be one the best performing European currencies next year and the best performing low yielder in the G10 FX space in 2020.

This article is part of our 2020 FX Outlook report." - Petr Krpata, CFA, Chief EMEA FX and IR Strategist


Regards and Stay fluid,

Ty
My job: I speculate and manage risk.
  • #1,056
  • Nov 29, 2019 8:26am Nov 29, 2019 8:26am
Quoting TyLamai
{quote} C5 H4 (TD20,3) is now signaling a Buy basket. As promised, here's an updated visual from my last C5 H4 Sell plotline showing my gameplan for this new Buy basket... {image} My previous Sell gameplan "saved" me from taking C5 Sell trades. Regards and Stay fluid, Ty
Dear TY
Is is possible to get your pivot lines indicator
Thanks a lot
Chris
  • #1,057
  • Nov 29, 2019 9:07am Nov 29, 2019 9:07am
Quoting Elsaloon
{quote} Dear TY Is is possible to get your pivot lines indicator Thanks a lot Chris
Post #764 I think in case you missed it.

Dave
K.I.S.S.
  • #1,058
  • Nov 29, 2019 10:11am Nov 29, 2019 10:11am
Quoting fmsfx
{quote} Post #764 I think in case you missed it. Dave
Thanks a lot Dave
Chris
  • #1,059
  • Nov 29, 2019 10:21am Nov 29, 2019 10:21am
Holiday trading

London bridge attack one hour ago?
Attached Image (click to enlarge)
Click to Enlarge Name: 2019-11-29 (3).png Size: 51 KB
  • #1,060
  • Nov 29, 2019 11:50am Nov 29, 2019 11:50am
I would say its most likely because the majority of retail traders are on the short side for all the GBP pairs. They only need a reason good or bad to move prices in the direction they prefer to go meaning just the opposite of the retail guys.

https://www.myfxbook.com/community/outlook

Dave
K.I.S.S.
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