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Trading system using relative strength

  • #121
  • Oct 9, 2008 1:05pm Oct 9, 2008 1:05pm
ok jnita thanks and if ill get it right the + and - is just if the indicator shows above or below the 0line ? so i can also just look at the green line if that is usd and if it is under the 0 it is a minus currensi ?


best regards


ps. to all what tp and sl do you recomend ?
  • #122
  • Oct 9, 2008 1:07pm Oct 9, 2008 1:07pm
Quoting mitchp
jnita,

Look at your chart, it's for 1H. This system was designed to take the readings from the 4H chart.

Mitch
Hell, the indi has changed and I am to busy right now to edit the whole write up. I appologize to everyone, just remember the chart should be 4H and not 1H
  • #123
  • Oct 9, 2008 1:12pm Oct 9, 2008 1:12pm
Quoting jgadefelth
ok jnita thanks and if ill get it right the + and - is just if the indicator shows above or below the 0line ? so i can also just look at the green line if that is usd and if it is under the 0 it is a minus currensi ?


best regards


ps. to all what tp and sl do you recomend ?
Yes. I just think you must check with ES Trader and Sky to see if my understanding is correct or not. So demo 1st, until one of them answers you.
  • #124
  • Oct 9, 2008 1:16pm Oct 9, 2008 1:16pm
This system seems to have a lot of potential in it, however, I don't think I have fully understood it. Please guys, I want u to tell me if I am right or wrong on this.

1. Get the CCFp indicator on a 4hr chart.
2. Open Data Window.
3. Wait for new candle close on 4hr.
4. Take the mouse cursor to the newly closed candle and check its value for each currency on the Data Window. I will call this value A.
5. Take the mouse cursor to the candle before the newly closed candle and check its value for each currency on the Data Window. I will call this value B.
6. If A is greater than B for any currency, it means the currency is strong and vice versa.
7. Example: If I checked the value for USD and A gives me 0.123 while B gives me 0.234 then it means USD has become weak. Then if If I checked the value for EUR and A gives me 0.055 while B gives me 0.015 then it means EUR has become stronger. Since EUR is now stronger and USD is weaker, I then go long on the EURUSD.
8. After going long, I take my profit at any convenient level. Then wait for the current candle to close and repeat process all over again.

Please, if I am wrong in my explanation above, do correct me. For those of you guys who have gotten the hang of it, I wish you good luck. And for those of us still learning, I hope this will help... Wahnone
  • #125
  • Oct 9, 2008 1:31pm Oct 9, 2008 1:31pm
Quoting jgadefelth
ok jnita thanks and if ill get it right the + and - is just if the indicator shows above or below the 0line ? so i can also just look at the green line if that is usd and if it is under the 0 it is a minus currensi ?


best regards


ps. to all what tp and sl do you recomend ?
No, do not look at zero level. USD could be below zerow and still be strong becaouse it's rising up. do not take into account zero line at all.
  • #126
  • Oct 9, 2008 2:30pm Oct 9, 2008 2:30pm
Just did a live test shortly after the last 4hr chart. Went long AUDUSD (taking signal from the indicator). It reach 135 pips, put a s/l at 100 and got hit a bit after that. I'll take 100 pips anytime!!!!!!
  • #127
  • Oct 9, 2008 2:44pm Oct 9, 2008 2:44pm
Quoting BenQ
I don't use IBFX. My broker has a different suffix. I'm not a coder, but I can usually change something like this. However, this one looks a little beyond me. Hopefully someone else will take care of it.
I am attaching a modified version that adds whatever character is required by the broker.

Basically looks at the lenght of Symbol and if it equals 7 uses the 7th character to add to the symbol names.

So now if the symbol is an "m" it will add an "m", if an "x" it will add an "x".

No other changes were made.
Robert aka MrPip
Attached File(s)
File Type: mq4 CCFp_v1.0.2a.mq4   20 KB | 2,082 downloads
  • #128
  • Edited 3:09pm Oct 9, 2008 3:06pm | Edited 3:09pm
I'm seriously considering adding this indicator to my MTF approach. Quite an afternoon! Statement attached.

Unable to attach statement. I'll try again.
  • #129
  • Oct 9, 2008 3:12pm Oct 9, 2008 3:12pm
Attachment
Attached Image (click to enlarge)
Click to Enlarge Name: 9.gif Size: 72 KB
  • #130
  • Edited 4:18pm Oct 9, 2008 3:27pm | Edited 4:18pm
Quoting mitchp
Just did a live test shortly after the last 4hr chart. Went long AUDUSD (taking signal from the indicator). It reach 135 pips, put a s/l at 100 and got hit a bit after that. I'll take 100 pips anytime!!!!!!

aud/usd has gone down(short) the last hour, and it certainly hasn't moved 135pips long?
  • #131
  • Oct 9, 2008 4:06pm Oct 9, 2008 4:06pm
Here is a version that show types of MAs and Prices that can be used.
I also modified to add an input for Indicator_ID. By changing this value you can place the indicator on a chart for each MA type with a different ID for each.

A modification was made in the sl function to use the Indicator_ID for part of the label name.

This allows the + and - to appear for each MA type.

I would also suggest setting All_Bars to some small value like 100 or 200 for faster ploting when using LSMA.

Robert aka MrPip
Attached File(s)
File Type: mq4 CCFp_v1.0.2b.mq4   24 KB | 2,954 downloads
  • #132
  • Oct 9, 2008 4:18pm Oct 9, 2008 4:18pm
Quoting availdollars
IMO the indi lags so once again i m requesting to u folks to try the index from lite forex n i sure u,ll be greatful for the live info, also try to compare it with the indi live n u will notice that the indi is giving lagging info or to be harsh it's giving all BS info
check the attachment for live comparision
Liteforex is probably IB or something link to WHC.
USD Index is between 70 to 82 now. Yours shows 1.85xx
that can't be serious.
My Yen Index is 1.0106
Euro Index is 1.3665
GBP Index is 1.7135

I am using CCI instead of RSI
It is certainly one of the best to signal direction - not only strength
  • #133
  • Oct 9, 2008 4:37pm Oct 9, 2008 4:37pm
MrPip! Glad to see you got yer nickname back

Quoting MrPip
I am attaching a modified version that adds whatever character is required by the broker.

Basically looks at the lenght of Symbol and if it equals 7 uses the 7th character to add to the symbol names.

So now if the symbol is an "m" it will add an "m", if an "x" it will add an "x".

No other changes were made.
Robert aka MrPip
  • #134
  • Oct 9, 2008 4:52pm Oct 9, 2008 4:52pm
good day all trader,
fuhh...
at last, the trend of squeezing thousand of pips per week land on FF.
good going my friends,
hope this will works - i also read Trader101 thread, also thousand pips per week.

lets rock everybody!
  • #135
  • Oct 9, 2008 5:05pm Oct 9, 2008 5:05pm
Quoting MrPip
I am attaching a modified version that adds whatever character is required by the broker.

Basically looks at the lenght of Symbol and if it equals 7 uses the 7th character to add to the symbol names.

So now if the symbol is an "m" it will add an "m", if an "x" it will add an "x".

No other changes were made.
Robert aka MrPip
Thx MrPip !
  • #136
  • Oct 9, 2008 5:14pm Oct 9, 2008 5:14pm
Signing up.

Lenoxer
  • #137
  • Oct 9, 2008 5:20pm Oct 9, 2008 5:20pm
Hi Everybody,
I step out for few hrs and come back and I see 3 pages added. Looks like the thread is going on by itself without me. That is great thing about FF. people here are great and friendly.
Any how I have a new trades and let us see what happens. So far in last 24 hrs I made close to 900 pips. I could not take all trades since I was busy with something else.
kris
Attached Image (click to enlarge)
Click to Enlarge Name: cc5.gif Size: 51 KB
  • #138
  • Oct 9, 2008 5:25pm Oct 9, 2008 5:25pm
You know, given all these large movements, I'm wondering, will there be another 1k to 100k thread? I'm waiting for it =D
  • #139
  • Oct 9, 2008 5:49pm Oct 9, 2008 5:49pm
ES, are you using the + and - symbols on the indi? I ask because yours are all +'s, yet you have a lot of trades on in both directions.

Quoting ES Trader
Hi Everybody,
I step out for few hrs and come back and I see 3 pages added. Looks like the thread is going on by itself without me. That is great thing about FF. people here are great and friendly.
Any how I have a new trades and let us see what happens. So far in last 24 hrs I made close to 900 pips. I could not take all trades since I was busy with something else.
kris
  • #140
  • Oct 9, 2008 5:51pm Oct 9, 2008 5:51pm
The trades I put 20 inutes ago is up 80 pips. Let me hang on there for a while.
Thanks skyline, benq and others for all your positive contribution and for answering everyones questions.

I saw that some one had some initial loss but later turned into positive. That has been my experiance. So far ALL my trades have been positive.
Kris
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