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Trading system using relative strength

  • #181
  • Oct 10, 2008 12:35am Oct 10, 2008 12:35am
candle time
Attached File(s)
File Type: mq4 CandleTime.mq4   2 KB | 1,553 downloads
  • #182
  • Oct 10, 2008 12:52am Oct 10, 2008 12:52am
here is the bar close alarm i have.
Attached File(s)
File Type: mq4 bar_close_alarm_V1.mq4   2 KB | 1,581 downloads
  • #183
  • Oct 10, 2008 1:11am Oct 10, 2008 1:11am
If you open one hour chart side by side with 4 hours and if you want
add contracts on pull back of strong currency or to close part of the
trade
  • #184
  • Oct 10, 2008 1:50am Oct 10, 2008 1:50am
Opened following positions at Alpari UK (demo) 15 minutes after 4hr bar change:

Sell : GBPUSD, AUDUSD, NZDUSD, GBPCHF, AUDCHF, GBPJPY, AUDCAD, AUDJPY, NZDJPY

Buy : EURGBP, EURAUD, EURNZD

Currently leaving the positions open to see max. drawdown and at 30 minutes after opening the positions with 0.1 lot per currency, max DD was 615 pips and now running at -200 pips. With USD5000 demo account balance, max DD was 12.3%.
  • #185
  • Oct 10, 2008 2:10am Oct 10, 2008 2:10am
I had a pm request for this.
It shows the currencies vertically instead of horizontally and includes the relative strength value based on the difference of the past 2 closed candles.

At the bottom of the inputs I also added the top position, step between positions and the text size. That way if your eyes are good you can make the indicator window shorter with a smaller text size.

I also made the AllBars default to 200 for faster disply because I have a huge amount of data on all timeframes.

By changing the Indicator_ID you can place different MAs on the chart.
LSMA is linear regression and has less lag than EMA.

Robert
Attached File(s)
File Type: mq4 CCFp_v1.0.2bvert.mq4   25 KB | 2,621 downloads
  • #186
  • Oct 10, 2008 2:25am Oct 10, 2008 2:25am
Investment 350
Now profit 239

Running for about 3 hours
maximum loss before the profit above $ 25


Add on contracts at the time of pull back all profitable
  • #187
  • Oct 10, 2008 2:29am Oct 10, 2008 2:29am
Great indicator

I attached to 1 hour chart for adding contracts at pull back or take profit
  • #188
  • Oct 10, 2008 2:37am Oct 10, 2008 2:37am
Hi All,

If you have say three 4 hr candles in an up move and the up currency is + positive between all 4 candles do you still take the long position? Should you be concerned that price may have moved the average daily range already? I don't think I've seen this question.
  • #189
  • Oct 10, 2008 2:40am Oct 10, 2008 2:40am
I think the main success behind this system lies in the fact that the market is moving a lot. So, for the time being, it shouldn't matter as much. But once this whole financial crisis settles down, you'll have to be more cautious.
  • #190
  • Oct 10, 2008 2:42am Oct 10, 2008 2:42am
Quoting harigp
Great indicator

I attached to 1 hour chart for adding contracts at pull back or take profit
Harigp, can you explain in more detailed way how you use ind on 1h chart for adding contracts on pull backs and taking profit?
  • #191
  • Oct 10, 2008 3:12am Oct 10, 2008 3:12am
If your capital is 350 and your profit is 239, that means there is something wrong with your risk management. Your trade size is probably too risky (too big) relative your initial capital. So I agree with Ronald that this system may be performing well because market is moving in one direction strongly.


Quoting harigp
Investment 350
Now profit 239

Running for about 3 hours
maximum loss before the profit above $ 25


Add on contracts at the time of pull back all profitable
  • #192
  • Oct 10, 2008 3:25am Oct 10, 2008 3:25am
This indicator is based on MAs, so it works weel on trend market like now. without SL on side market we can loose all very quiqly
  • #193
  • Oct 10, 2008 3:26am Oct 10, 2008 3:26am
Hi skyline thanks very much for your time to make trading for all of us more easier ! I just want to figure out why i have not the same strenght and weakeness result between FXDD and ODL broker ? What do you think ?
Thanks
Luk
  • #194
  • Oct 10, 2008 4:16am Oct 10, 2008 4:16am
First of all this system is very new to me

What I did is May be 3 hours back attached the indicator to on hour as well

As you know the AD is on the bottom in Time Frame 4 and when I looked
in one hour chart with the indicator AU is moving up

My contract is EU buy sell AD

The AD movement up indicates in one hour time frame that EU is pulling
Back so add one more contract
  • #195
  • Oct 10, 2008 4:22am Oct 10, 2008 4:22am
Right now I have 12 contracts based on strength of the currencies

Lot size .05 and the above 12 includes two pull back contracts also

If you scroll back the indicators before the bank crash you can notice
that the width between currencies are shorter compared to what is now
  • #196
  • Oct 10, 2008 4:30am Oct 10, 2008 4:30am
Hello,

The system is awesome.

BUT just checking the last 4hour bar says -0.1549 for AUD

and 0.1309 for JPY. BUT the indicator is showing a - for JPY

Why is that, am I doing something wrong ?

Thankyou.
  • #197
  • Oct 10, 2008 4:43am Oct 10, 2008 4:43am
If you closely look at the JPY graph it is Flat where as AD is little bit coming up

The picture is more clear in Time Frame 1 hour

That could be the reason for JPY- and AD + but overall JPY is strong
now

Strength of the currency keep changing or there are pull back
  • #198
  • Edited 5:37am Oct 10, 2008 4:54am | Edited 5:37am
Quoting mark3
Hello,

The system is awesome.

BUT just checking the last 4hour bar says -0.1549 for AUD

and 0.1309 for JPY. BUT the indicator is showing a - for JPY

Why is that, am I doing something wrong ?

Thankyou.
Mark3,

Let me try to explain...

The CCFp indicator now is showing JPY as "-" because the 4HR candle @GMT00:00 showed +0.1337 and the 4HR candle @GMT04:00 showed +0.1312.
Therefore there was a decrease in strength from 0.1337 to 0.1312 which is -25 thus the indicator showing "-"

Note: Based on IBFX Demo

Hope you understand my explanation.
  • #199
  • Oct 10, 2008 5:39am Oct 10, 2008 5:39am
Quoting PipsRider
Hi skyline thanks very much for your time to make trading for all of us more easier ! I just want to figure out why i have not the same strenght and weakeness result between FXDD and ODL broker ? What do you think ?
Thanks
Luk
You're welcome PipsRider !
Well I see too that different broker could give different pairs strength , I think this could be caused by different price quotes since CCFp indicator is based on moving averages. Moreover, if you compare broker with different timezone then the difference could be much more evident because 4Hr candle could start at different time, maybe comparing 1 Hr candle through different broker will give you more similar result.

Cheers,
Skyline
  • #200
  • Oct 10, 2008 6:45am Oct 10, 2008 6:45am
Hey coders, anyway of showing the strength in the data window instead of <>0 ? that way we could create an EA from it
See right now JPY is negative sign on the indicator but positive (>0) number in the Data Window/ So then we could look back the two bars and check the strength rather than if < or > 0 the same reference that the indicator is using to determine if + or - should also be used in the data window instead of if its < or > 0

Thanks
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