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Trendfinder that compares 28 different currency pairs 34 replies

Trendfinder Tool 18 replies

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TrendFinder

  • #1
  • First Post: Nov 28, 2024 2:16am Nov 28, 2024 2:16am
The GRAIL is not the best trading system, strategy or robot.
The grail is the crystal ball.
If you know at beginning of the day which instruments will be trending the most, then any strategy WILL make you money.

I already have made a thread about this: Finding the trend | Forex Factory
But I found a better methode in my oppinion.

Bollinger Bands (BB) are very good at showing ranging and trending. The trending shows by the bands are widening and the very best is, when the price keep exceeding the bands.

I like to shop around the instruments and trade those that are most trending at the time. So I made this EA that colour the background of the chart blue if BB is trending up and red if BB is trending down.

I have made a profile where all the instruments I trade are present. The indicator colours the instruments that could have my interest. I set the timeframe on them all to H4. There you have it. H4 now shows the interesting instruments this morning (or next day). Open them one by one and make your top down analysis - whatever you like. At the attachment you can see, that I instead of checking all 30 instruments, I can concentrate on12 of them at the present time. I typically then select 6 of them after my topdown analyze and let a robot trade those - ON ANOTHER PROFILE. You don't want to spoil the setup you have made. So this way I can every morning find the instruments that I will trade for the day.

Another use of this could be having the screen present all the time at a lower timeframe to be warned every time a new trend might be coming.

You dont of cause need to have 30 instruments present. If you for instance are trading the Asian market or only indices, then have only these instruments present on the screen.

If you have other ideas, you are wellcome to leave a note. If you like the idea and download my tool, then also please make a comment.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 104 KB
Attached File(s)
File Type: ex4 TrendFinder.ex4   9 KB | 431 downloads
MetaTrader 4 - so many advantages.
  • #2
  • Nov 28, 2024 4:32am Nov 28, 2024 4:32am
Thanks for sharing. I definitely like your idea.
  • #3
  • Nov 28, 2024 6:46am Nov 28, 2024 6:46am
Quoting Bennas
Thanks for sharing. I definitely like your idea.
Yea, I am going to do some manuel trading with this EA now. Thanks for reply.
MetaTrader 4 - so many advantages.
  • #4
  • Nov 28, 2024 7:08am Nov 28, 2024 7:08am
Quoting RiskFighter
The GRAIL is not the best trading system, strategy or robot. The grail is the crystal ball. If you know at beginning of the day which instruments will be trending the most, then any strategy WILL make you money. I already have made a thread about this: Finding the trend | Forex Factory But I found a better methode in my oppinion. Bollinger Bands (BB) are very good at showing ranging and trending. The trending shows by the bands are widening and the very best is, when the...
Where's the system, more like platform tech chief.
  • #5
  • Nov 28, 2024 7:32am Nov 28, 2024 7:32am
Quoting MachineLearn
{quote} Where's the system, more like platform tech chief.
System is to have an edge when Bollinger gives a signal. Surely requires confluences. Not a big strategy, I just wanted to share the idea and the EA.

I understand platform as if you are using MT4,5 or tradingview or something else??
MetaTrader 4 - so many advantages.
  • #6
  • Nov 28, 2024 7:50am Nov 28, 2024 7:50am
Thanks. I will check it.
  • #7
  • Nov 28, 2024 9:23am Nov 28, 2024 9:23am
Hi,
One word— Nice layout.
Ron
  • #8
  • Nov 28, 2024 9:24am Nov 28, 2024 9:24am
ok 2 words.
  • #9
  • Nov 28, 2024 9:29am Nov 28, 2024 9:29am
Quoting packgreen49a
ok 2 words.
He he - thanks.
MetaTrader 4 - so many advantages.
  • #10
  • Nov 28, 2024 11:40am Nov 28, 2024 11:40am
Interesting, from what I see you are not just looking the last closed candle. I see CHF/JPY and EUR/JPY they look very similar and the CHF/JPY is red with 4 candles after the breakout while the EUR/JPY is neutral with 5 candles after the breakout. I assume that between 4 and 5 is the switch
  • #11
  • Nov 28, 2024 1:43pm Nov 28, 2024 1:43pm
Quoting capsmart
Interesting, from what I see you are not just looking the last closed candle. I see CHF/JPY and EUR/JPY they look very similar and the CHF/JPY is red with 4 candles after the breakout while the EUR/JPY is neutral with 5 candles after the breakout. I assume that between 4 and 5 is the switch
I measure the 2 last closed bars. If one of them close beyond the value of the band before, then we have an interesting situation.

Very simple. We just want to know, if the price has begun to exceed the band. Nu guarantee, but it could pay off to investigate it and follow it.
MetaTrader 4 - so many advantages.
  • #12
  • Nov 29, 2024 6:08am Nov 29, 2024 6:08am
Quoting RiskFighter
{quote} I measure the 2 last closed bars. If one of them close beyond the value of the band before, then we have an interesting situation. Very simple. We just want to know, if the price has begun to exceed the band. Nu guarantee, but it could pay off to investigate it and follow it.
Hi, its a real interesting idea.
Question when you say ''I measure the 2 last closed bars. If one of them close beyond the value of the band before,'' regading the following picture i dont get it
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  • #13
  • Nov 29, 2024 6:46am Nov 29, 2024 6:46am
Quoting rosalieone
{quote} Hi, its a real interesting idea. Question when you say ''I measure the 2 last closed bars. If one of them close beyond the value of the band before,'' regading the following picture i dont get it{image}
Hi

The EA meassure the close of the bar and compare to the price of the band one bar back.
It is hard to see. But I think that the first red bar is closing over the price of band at the bar before it. It is so little that you cannot se it, but the computer knows.

Besides note that this is not a tool for entry, it does not need to be very exact. The idea is, that you as a manual trader shall have the attention towards the instruments that are in a trend or might be starting a trend.

Thank you for your comment. Ask again if I am not clear enough.
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Click to Enlarge Name: screenshot.png Size: 49 KB
MetaTrader 4 - so many advantages.
  • #14
  • Nov 29, 2024 2:46pm Nov 29, 2024 2:46pm
Many thanks to riskfighter for this EA. Your idea of the background color opens up new possibilities to find setups quickly.
  • #15
  • Nov 29, 2024 4:15pm Nov 29, 2024 4:15pm
Quoting kofix11
Many thanks to riskfighter for this EA. Your idea of the background color opens up new possibilities to find setups quickly.
And here is some code to programmers.

if(Longposition == 1 && Shortposition == 1)
ChartSetInteger(ChartID(), CHART_COLOR_BACKGROUND, HedgeColour);
if(Longposition == 1 && Shortposition == 0)
ChartSetInteger(ChartID(), CHART_COLOR_BACKGROUND, LongColour);
if(Longposition == 0 && Shortposition == 1)
ChartSetInteger(ChartID(), CHART_COLOR_BACKGROUND, ShortColour);
MetaTrader 4 - so many advantages.
  • #16
  • Dec 6, 2024 5:54am Dec 6, 2024 5:54am
hi RiskFighter,

a few years back i did something similar like you, just with an adx indicator. Now im just using the ma dash from here
MADdash (Moving Average Distance) | Forex Factory
on the H4 Timeframe and with an 120 SMA. Im only trading the 3 Top Pairs against the 3 Down Pairs on the H1 Timeframe with pure Price action.

Does it come late ? Yes, but im still getting good entries and im trading only with the trend.
Attached Image (click to enlarge)
Click to Enlarge Name: CSM H4 120SMA.png Size: 3 KB
  • #17
  • Dec 6, 2024 6:52am Dec 6, 2024 6:52am
Quoting pipgreen
hi RiskFighter, a few years back i did something similar like you, just with an adx indicator. Now im just using the ma dash from here MADdash (Moving Average Distance) | Forex Factory on the H4 Timeframe and with an 120 SMA. Im only trading the 3 Top Pairs against the 3 Down Pairs on the H1 Timeframe with pure Price action. Does it come late ? Yes, but im still getting good entries and im trading only with the trend. {image}
Are you finding your approach to be profitably?
If yes, keep going bro and don't change anything.
Just for curiosity, what's the win rate you are getting with it?
  • #18
  • Last Post: Dec 6, 2024 6:53am Dec 6, 2024 6:53am
Quoting pipgreen
hi RiskFighter, a few years back i did something similar like you, just with an adx indicator. Now im just using the ma dash from here MADdash (Moving Average Distance) | Forex Factory on the H4 Timeframe and with an 120 SMA. Im only trading the 3 Top Pairs against the 3 Down Pairs on the H1 Timeframe with pure Price action. Does it come late ? Yes, but im still getting good entries and im trading only with the trend. {image}
Thank you for your valuable comment. I checked the MADdash and find it to be one of the very best strength systems I have seen. I will try it.
MetaTrader 4 - so many advantages.
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