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Trading system using relative strength

  • #21
  • Oct 8, 2008 2:58pm Oct 8, 2008 2:58pm
Quoting ES Trader
Hoss,
goes in experts/indicator folder.
Thanks, got it. If we are looking at the chart right now, are we only paying attention to the AUD/JPY as they are at the extremes?
Life is too short to have anything but delusional notions about yourself.
  • #22
  • Oct 8, 2008 3:16pm Oct 8, 2008 3:16pm
Hi ES, interesting system...
May I ask you if you can post a couple of charts to get a more visual understanding?
I'm a little slow, sorry

Do you come up with this or T101 got you thinking?

Thanks in advance.
3rd World Trading
  • #23
  • Oct 8, 2008 3:18pm Oct 8, 2008 3:18pm
here are the trades I just now entered.
The data window shows (after comparing the values of the last two 4 hr bar,)
Strong currency are, eur,aud,nzd and Chf
Weak are usd,gbp.jpy and Cad
Lets us see what happens with trades. I was almost an hr late in putting the trades since I was busy with other things.Seem to work best when trades are put within 15 minutes after open of new bar. Lets see what happens
Attached Image (click to enlarge)
Click to Enlarge Name: ccf1.gif Size: 51 KB
  • #24
  • Edited 3:37pm Oct 8, 2008 3:19pm | Edited 3:37pm
Here is what I have from the Alpari charts for the last 2 candles:

USD .0612 .0597 Weaker
EUR -.0029 .0006 Stronger
GBP .0190 .0150 Weaker
CHF .0263 .0295 Stronger
JPY .1241 .1204 Weaker
AUD -.1500 -.0093 Stronger
NZD -.0672 -.0634 Stronger

Does that mean we are looking to match the stronger pairs with the weaker ones? Thus, trade CHF/JPY, AUD/JPY, AUD/CAD, etc?
Life is too short to have anything but delusional notions about yourself.
  • #25
  • Oct 8, 2008 3:19pm Oct 8, 2008 3:19pm
the first indicator make mt4 crazy the second one i cant get in the chart nothing happens ??

best regards
  • #26
  • Oct 8, 2008 3:23pm Oct 8, 2008 3:23pm
Hoss,
AUDJPY has nothing to do with it. I just happen to have CCfp on that chart.You can put it on any chart.what we are concerned is the values of CCfpm indicator of the last TWO COMPLETED 4 hr bar.
Kris
  • #27
  • Oct 8, 2008 3:27pm Oct 8, 2008 3:27pm
Hoss, Aud is stronger because going from -1500 to
-0093( Less Negative )

I want everone to realise the strength /weakness of currency is only short term limited to may be few 4 hr bar. This is not long term values
  • #28
  • Oct 8, 2008 3:27pm Oct 8, 2008 3:27pm
Quoting ES Trader
Hoss,
AUDJPY has nothing to do with it. I just happen to have CCfp on that chart.You can put it on any chart.what we are concerned is the values of CCfpm indicator of the last TWO COMPLETED 4 hr bar.
Kris
Cool. Thanks.
Life is too short to have anything but delusional notions about yourself.
  • #29
  • Oct 8, 2008 3:29pm Oct 8, 2008 3:29pm
Quoting jgadefelth
the first indicator make mt4 crazy the second one i cant get in the chart nothing happens ??

best regards
Put both of them in the indicators folder at the same time. Shut down metatrader if you have it open then attach to chart. I had to go the one hour for a second to get the color coding to show up, but it should work.
Life is too short to have anything but delusional notions about yourself.
  • #30
  • Oct 8, 2008 3:38pm Oct 8, 2008 3:38pm
Quoting ES Trader
Hoss, Aud is stronger because going from -1500 to
-0093( Less Negative )

I want everone to realise the strength /weakness of currency is only short term limited to may be few 4 hr bar. This is not long term values
Yep. I corrected it.
Life is too short to have anything but delusional notions about yourself.
  • #31
  • Oct 8, 2008 3:45pm Oct 8, 2008 3:45pm
one of them is corrupt the other one waits a second then shout down metatrader 4

maybe a tenplate would work better ?

best regards
  • #32
  • Edited 4:04pm Oct 8, 2008 3:50pm | Edited 4:04pm
Quoting hoss
Thanks, got it. If we are looking at the chart right now, are we only paying attention to the AUD/JPY as they are at the extremes?
I guess - yes - just shorted it - and now i'm +8 pips within 2 mins i'll be testing the system during this and next week - we'll see....


another 15 minutes later
Attached Image (click to enlarge)
Click to Enlarge Name: screen_53.jpg Size: 146 KB
  • #33
  • Oct 8, 2008 3:56pm Oct 8, 2008 3:56pm
ES,

Is it ok to trade this during the UK and New York session with news reports, or is it better to trade in the afternoons and evenings EST?
Life is too short to have anything but delusional notions about yourself.
  • #34
  • Oct 8, 2008 4:00pm Oct 8, 2008 4:00pm
Hoss,
i dont know. I have been just trading every 4 hrs, may be I might skip UK session since I am asleep at that time. I live in chicago
  • #35
  • Oct 8, 2008 4:05pm Oct 8, 2008 4:05pm
Quoting ES Trader
Hoss,
i dont know. I have been just trading every 4 hrs, may be I might skip UK session since I am asleep at that time. I live in chicago
Cool.
Life is too short to have anything but delusional notions about yourself.
  • #36
  • Edited Oct 9, 2008 5:22am Oct 8, 2008 4:34pm | Edited Oct 9, 2008 5:22am
Hi Traders !
I coded an improved CCFp version just to play a little bit with this interessing method.
New features added in v2.0.2:

- Added +,-,= to identify more easily each currency strength
- Now works also with IBFX
- Fixed symbols paint issue whenever a new candle starts.

Happy pips

Skyline
Attached Image (click to enlarge)
Click to Enlarge Name: ccfp.gif Size: 13 KB
Attached File(s)
File Type: mq4 CCFp_v1.0.2.mq4   20 KB | 7,915 downloads
  • #37
  • Oct 8, 2008 5:07pm Oct 8, 2008 5:07pm
wooooooooohoooooooooooooo skyliner after i have waited some and get in to the indicator and out again it works thanks.

But i dont understand the rest of the strategy how to use it i ??


best regards
  • #38
  • Oct 8, 2008 5:08pm Oct 8, 2008 5:08pm
Great system Es trader, looks simple.I understand it Thanks

About indicator, lines above 0 means uptrend and below 0 downtrend?

Thanks
  • #39
  • Oct 8, 2008 6:15pm Oct 8, 2008 6:15pm
Skyline,
Fantastic. I was looking exactly same kind of changes for ccfp.You are great.Thanks a bunch.
Kris
  • #40
  • Oct 8, 2008 6:40pm Oct 8, 2008 6:40pm
This chart shows USD weakening, EUR strengthening, GBP weakening and AUD strengthening. Does this mean we'll go long EURUSD, EURGBP, AUDUSD, AUDGBP? I mean can someone confirm if we are going to take longs strengthening vs. weakenings for all pairs? If not, how do you choose which strengthening vs. weakening pairs to trade?

Regards,


Quoting skyline
Hi Traders !
I coded an improved CCFp version just to play a little bit with this interessing method.
New features added :

- Added +,-,= to identify more easily each currency strength
- Now works also with IBFX

Happy pips

Skyline
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