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Trading correlation pairs by using the other pairs

  • #661
  • Jul 25, 2020 7:00am Jul 25, 2020 7:00am
I suppose the first thing is to recognise where to enter the trade,
On the main chart, The blue and the green line when they cross confirmed with the red and the blue line on the bottom chart looks like the main indication to enter the trade,
Also, it has to be in the overSold and bought part of the RSI,
So that looks like between 90 and 70 for a Sell, And 10 and 30 for a buy, Looks like a pretty simple System,
It looks like the more the lines separate the stronger the trend
my first question would be, moving averages are they really that good we know they don't repaint, But they do lag behind,
well, I will give it a test,
Attached Image (click to enlarge)
Click to Enlarge Name: buy high sell low.png Size: 161 KB
  • #662
  • Jul 25, 2020 12:45pm Jul 25, 2020 12:45pm
Hey redfan. I'm wondering if logarithmic charting could help visualize differences in currencies one is comparing, more clearly? IDK if it is benficial to stuff like currency strength and correlations or not but just thought I'd throw it out there.


Inserted Video
  • #663
  • Jul 26, 2020 1:50am Jul 26, 2020 1:50am
Quoting dagoods
Hey redfan. I'm wondering if logarithmic charting could help visualize differences in currencies one is comparing, more clearly? IDK if it is benficial to stuff like currency strength and correlations or not but just thought I'd throw it out there. https://www.youtube.com/watch?v=jWmBsqh_1fU
Very interesting video, why don't you give it a go for a week or so.
it would be interesting to know what you come up with.
  • #664
  • Edited 4:57am Jul 26, 2020 1:58am | Edited 4:57am
I have put two white lines In between the 30 moving average And the number 3 moving average,
The two white moving averages are a 9 and 14 period,
First observations of this are the wider the lines on 9 and 14 periods are apart, The stronger the trade, The closer they are the weaker the trade
Trade entry, Is blue line crosses the red line. On the main chart confirmed by the lower chart.
These are just the first couple of observations.
Attached Image (click to enlarge)
Click to Enlarge Name: STRONGER AND WEAK.png Size: 121 KB
  • #665
  • Jul 27, 2020 6:32am Jul 27, 2020 6:32am
Forgot to take a picture of the chart this morning just put BUY TRADE On with this new trading idea I am testing,
Just come back 5 hours later and the trade has been closed with a £60 profit,
This is the first one this week I will carry on with the testing.
Attached Image (click to enlarge)
Click to Enlarge Name: mon GBPCHF H1 BUY.png Size: 87 KB
Attached Image (click to enlarge)
Click to Enlarge Name: PROFIT.png Size: 4 KB
  • #666
  • Jul 28, 2020 12:34am Jul 28, 2020 12:34am
2nd day
Attached Image (click to enlarge)
Click to Enlarge Name: tue nzdusd sell.png Size: 117 KB
  • #667
  • Jul 30, 2020 8:16pm Jul 30, 2020 8:16pm
Quoting redfan
MAJOR PAIRS The GBP/JPY is the pairing of the British pound and the Japanese yen. Also known as the “gopher” or “geppy,” the GBP/JPY is extremely volatile and can move up to 350 pips in a single trading day. PAIRS THAT CORRELATE: CAD/JPY, AUD/JPY, CHF/JPY (CROSS) The NZD/JPY is the pairing of the New Zealand dollar and the Japanese yen. The difference in interest rates between NZD and JPY makes NZD/JPY a popular pair to “carry trade.” A carry trade involves buying a currency with a high-interest rate in hopes of earning profit off the daily...
According to some of my calculations, the correlation between CAD / JPY and CHF / JPY was created not because CAD correlates with CHF but because the JPY is much stronger (more volatile) than CAD and CHF leads to the correlation of the two pairs, so the possibility of pair trading is more risky !!!
  • #668
  • Jul 30, 2020 10:01pm Jul 30, 2020 10:01pm
Hello redfan and congratulation for your ts. Is possible to post the file Tpl for the graph in your post 664 or 665.? Thnks in advance
  • #669
  • Jul 31, 2020 12:59pm Jul 31, 2020 12:59pm
Quoting Eod
Hello redfan and congratulation for your ts. Is possible to post the file Tpl for the graph in your post 664 or 665.? Thnks in advance
Attached File(s)
File Type: tpl buy low sell high.tpl   5 KB | 281 downloads
  • #670
  • Jul 31, 2020 1:16pm Jul 31, 2020 1:16pm
This one is a bit different just got a few other indicators with it,
good luck keep safe.

Attached File(s)
File Type: tpl buy low sell high.tpl   10 KB | 277 downloads
  • #671
  • Jul 31, 2020 1:25pm Jul 31, 2020 1:25pm
Quoting redfan
This one is a bit different just got a few other indicators with it, good luck keep safe. {file}
The only problem with this system it's a bit boring
you have to check all your pairs every day at the London open,
And the New York open,
You only trade when the lines in the RSI columns are touching or very close to the red and green lines,
Sell high buy low,
  • #672
  • Aug 1, 2020 3:13am Aug 1, 2020 3:13am
Quoting redfan
{quote} The only problem with this system it's a bit boring you have to check all your pairs every day at the London open, And the New York open, You only trade when the lines in the RSI columns are touching or very close to the red and green lines, Sell high buy low,
You need a great mql4 programmer to create an ea or indicator as dashboard that show the cross with your tpl set....
  • #673
  • Aug 1, 2020 3:34am Aug 1, 2020 3:34am
Quoting Eod
{quote} You need a great mql4 programmer to create an ea or indicator as dashboard that show the cross with your tpl set....
I've started testing these two indicators the first one actually marks the crossover without even the moving average Lines it also alert you,
The second one puts the moving lines on, I've not changed any of the settings I'm in a testing stage.
Attached File(s)
File Type: mq4 ma_cross_alert_once_a.mq4   9 KB | 314 downloads
Attached File(s)
File Type: mq4 Tidy MA Cross_2.mq4   4 KB | 297 downloads
  • #674
  • Aug 1, 2020 4:13am Aug 1, 2020 4:13am
I'm also going to use the 30-minute chart there seem to be more entry points I've just been looking today.
Attached Image (click to enlarge)
Click to Enlarge Name: 30 MIN 1.png Size: 39 KB
This one really looks good trade, But the RSI moving averages are not where you wanted it to be. so I would not take this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: 30 MIN3.png Size: 38 KB
This one looks a good trade, The moving averages cross and the RSI is very close to the red line, I would give this one a try,
Attached Image (click to enlarge)
Click to Enlarge Name: 30MIN 2.png Size: 38 KB
Again the RSI is not where you really want them, I will give this one a miss.
Attached Image (click to enlarge)
Click to Enlarge Name: 30MIN4.png Size: 39 KB
Again the RSI is not where you really want them, I will give this one a miss.

If anyone is going to trade this system I will be very happy if you were trading a different time To what I am trading and please let me have the results it saves me a lot of work.
  • #675
  • Aug 1, 2020 5:27am Aug 1, 2020 5:27am
It will be very interesting to see how these 4 trades turn out,
This was the New York 10;00 Clock closed on Friday night.
  • #676
  • Aug 6, 2020 11:06am Aug 6, 2020 11:06am
I thought I would put this on here,
How do you make an indicator a better indicator,
Lots of Traders like MACD because when it crosses it indicates a trade, This got me thinking if you could the have a MACD mixed with an RSI, Now you would have an indicator that gives you an entry point and tells you whether it is oversold or overbought,
So I have come up with one and you don't need to download Anything you should already have MACD and RSI.

This is what YOU do. Put MACD on your chart,
Then click on the navigator all your indicators come up on the side,
find the RSI and drag it to the MACD part of the chart,
The RSI settings box opens up,
The only setting you have to change is, where it says apply to, Click on it,
Then click on First indicator data and the RSI Will appear in the MACD chart,
You can change the other settings like you do normally,
SEE PICTURE.

Attached Image (click to enlarge)
Click to Enlarge Name: 2PAIRS.png Size: 121 KB
  • #677
  • Edited Aug 7, 2020 2:27am Aug 6, 2020 11:33am | Edited Aug 7, 2020 2:27am
This is another indicator that I put together,
Open chart with OBV (on balance volume Indicator)
I then dragged 200 moving averages to it.
This gives you the trend and if you look closely it's also gives you trade entries where it crosses,
Attached Image (click to enlarge)
Click to Enlarge Name: fri 2.png Size: 282 KB
  • #678
  • Edited 12:03pm Aug 12, 2020 11:50am | Edited 12:03pm
MY NEW TEMPLATE.
Attached File(s)
File Type: tpl NEW TRADE SELL HIGH BUY LOW IS THIS THE ONE.tpl   25 KB | 360 downloads
Attached File(s)
File Type: mq4 Symbol Changer_Luxmod (1).mq4   6 KB | 369 downloads
Attached File(s)
File Type: ex4 OBV2.03 - mtf+alerts (1).ex4   36 KB | 396 downloads
Attached File(s)
File Type: mq4 MACD LWMA v1.01.mq4   4 KB | 348 downloads
Attached File(s)
File Type: mq4 ADR 1 mod.mq4   15 KB | 402 downloads
Attached File(s)
File Type: ex4 OGT RSI MTF Indicator v1.1 (1).ex4   15 KB | 350 downloads
Attached File(s)
File Type: mq4 me_Close_All v1.mq4   5 KB | 352 downloads
Attached File(s)
File Type: mq4 Spread.mq4   3 KB | 346 downloads
Attached File(s)
File Type: ex4 daily_open_line.ex4   9 KB | 334 downloads
Attached File(s)
File Type: rar adr-rsi-macd2 (1).rar   120 KB | 407 downloads
  • #679
  • Aug 12, 2020 12:24pm Aug 12, 2020 12:24pm
Quoting redfan
MY NEW TEMPLATE. {file}{file}{file}{file}{file}{file}{file}{file}{file}{file}
Thank you very much for your supports.I load this tpl.Is it right ?

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 80 KB

  • #680
  • Aug 12, 2020 12:43pm Aug 12, 2020 12:43pm
Quoting Atilla-Son
{quote} Thank you very much for your supports.I load this tpl.Is it right ? {image}

Yes it does look right and as you've downloaded it
there are some instructions for you,
Check out the bottom indicator the OBV
the yellow line is a 200 moving exponential average,
I'm using it on the 5-minute and the 15-Minute time frame
it's more reliable on the 15-Minute if the blue line is above the 200 moving average you are in an uptrend it if it is below you are in a downtrend,
depending on what pair you are using because it's pair crosses the moving average in the early part of the morning between 7.00 am 10.30 am
I've been busy recording all the crosses. You should do the same.
You will find it very interesting.
I have put a blue RSI line in the MACD
my reason for this is the MACD gives you your entry points when it crosses,
The RSI tells you when it is oversold and overbought,
If you spot anything that you think I should know about please let me know
so good luck and keep safe,
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