DislikedI have made a lot of money by picking a strong currency and trading it against a weak currency.
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Buy Sell Arrow Indicator Based on Individual Currency Strength 39 replies
Trading system based on individual currency strength 12 replies
Question on pairs and individual currencies 0 replies
Broker that allows trading of individual currencies 3 replies
DislikedI don't want to sidetrack this thread too much with my particular charts, which are not available in the public domain. I'll probably start a journal and discuss it in that.Ignored
DislikedI do http://www.forexfactory.com/showpost...&postcount=466
I do not worry much about the actual chart numbers. I could normalize them the way you have done, but it is the movement that concerns me. Here is the MQ4 and anyone is welcome to build on it or change it entirely if they wish. Also included is the Template. I have made a lot of money by picking a strong currency and trading it against a weak currency.
You can also put an envelope on it and adjust the dev. I use.10 on 5 min and about .2 on 1hour. When the price jumps out of either boundary it can mean a strengthening or weakening of that currency based on whether it jumps the lower or the upper. I have just kept the envelope at 14 simple first indicator on each.Ignored
DislikedSigning up. Isn't this idea a basis for Trader101's thread?
LenoxerIgnored
DislikedI do http://www.forexfactory.com/showpost...&postcount=466
I do not worry much about the actual chart numbers. I could normalize them the way you have done, but it is the movement that concerns me. Here is the MQ4 and anyone is welcome to build on it or change it entirely if they wish. Also included is the Template. I have made a lot of money by picking a strong currency and trading it against a weak currency.
You can also put an envelope on it and adjust the dev. I use.10 on 5 min and about .2 on 1hour. When the price jumps out of either boundary it can mean a strengthening or weakening of that currency based on whether it jumps the lower or the upper. I have just kept the envelope at 14 simple first indicator on each.Ignored
DislikedHere's what Friday's map was showing me for trading the eur/usd, eur/jpy,and usd/jpy.
Thanks for sharing it!
Friday there were 3 nice shorts both on eur/usd and eur/jpy at about the same times can you find them?
3:30 (lesser of the three), 9:00 and 16:00?
Hope everyone has a great trading week.
Same to you!Ignored
DislikedThe signals are not consistent, for example, sometimes the PTM indicator moves below the bands indicator before trends down, but sometimes it moves above before trends up. So, I'm sure I'm doing something incorrectly.Ignored
DislikedI added a bands indicator to a 5m and 1 hr eurusd chart with settings you recommended. When I added the pricetruemovement indicator, I changed the default settings from USD to: EUR, EURGPY,EURGPY,EURJPY,EURCHF, and EURAUD. Also, I checked fixed min./max boxes to keep the indicators from jumping all over when looking back in time.
The signals are not consistent, for example, sometimes the PTM indicator moves below the bands indicator before trends down, but sometimes it moves above before trends up. So, I'm sure I'm doing something incorrectly. Would you post examples of 5m and 1hr eurusd charts with your set-up?
I think this method is excellent!Ignored
DislikedSomething I've always wanted to do (but lack the programming skills for) is to set up 3d charting. 3d charting? But how do you do that?
The idea is that you introduce a 3rd axis to charting, open interest or orders, and specifically the notational volume thereof. Granted this would only work on a platform like an ECN where you can see open interest, though I bet you could get it to work on OandA's platform as well. This would also work well on the CME futures.
The best analogy I can think of is to a spectrograph, where it can move erratically in unison with the metered stream.
In my head it's like looking at the landscape of a vista, able to see everything in front of you. How useful would it be? Not sure, but I obviously thought of it for a reason, lol.
Then, take the 3d charts and you can compare them against other currency pairs to get a better view of relative strength per individual currency in a tripod configuration. GBP/USD, USD/JPY and GBP/JPY for instance.Ignored
Disliked1. GBP/USD Up and USD/CHF Up - Cross will move UP STRONG (Primary trade objective moves)
2. GBP/USD Down and USD/CHF Down - Cross will move DOWN STRONG (Primary trade objective moves)Ignored
DislikedI've been working with this very basic setup just to get a feel
for what the interactions between pairs looks like real-time.
Except that I'm looking at EUR/JPY as the cross. It's been
pretty interesting so far!
Mostly I'm making better trades.
However, when I'm stubborn and try to trade the setup
when one of the pairs is being difficult (e.g. like the way that
USD/JPY was for me last night) it wreaks havoc on the setup
and thus the cross big-time!
Note to self: Co-operative underlying pairs = good cross trades.
P.S. Duh.
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DislikedI tried this last night with the EUR/JPY:
EUR/USD moving down
USD/JPY moving down
EUR/JPY dropped over 200 points
Very nice !!!Ignored