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Trading system using relative strength

  • #201
  • Oct 10, 2008 6:45am Oct 10, 2008 6:45am
I found that the indicator was not updating the lines and the values became 0 so I made a minor change.
Now it will display correctly but will do calcs for the value of All_Bars which defaults to 200.

When I find a way to only do the cacls for the most recent candle I will post a newer version. Until then do not change the value of All_Bars to 0.
Robert


Quoting MrPip
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_v1.0.2cvert.mq4   25 KB | 2,156 downloads
  • #202
  • Oct 10, 2008 6:50am Oct 10, 2008 6:50am
The number shown after the + or - is the difference between the line[1] and line[2] values for each currency. The greater the distance the larger the change. The actual difference value is multiplied by 10000 for easier reading.

Robert

Quoting matrixebiz
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
  • #203
  • Oct 10, 2008 6:54am Oct 10, 2008 6:54am
Quoting MrPip
The number shown after the + or - is the difference between the line[1] and line[2] values for each currency. The greater the distance the larger the change. The actual difference value is multiplied by 10000 for easier reading.

Robert
Do you mean Bar1 and Bar2? what do you mean Line1 and Line2?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #204
  • Oct 10, 2008 6:58am Oct 10, 2008 6:58am
Just trying to figure out how you look back in time at the last 2 4hr bars to check if it is a positive sign or negative sign? or is that what the indicator is doing already? or is the indicator showing current bar?

Oh and why did you only pick those 8 pairs?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #205
  • Oct 10, 2008 7:07am Oct 10, 2008 7:07am
Just went long - demo. NO tp, no sl. Just want to observe what will happen in 4 hours
nzdjpy @ 58.99
audjpy @ 65.50
  • #206
  • Oct 10, 2008 7:53am Oct 10, 2008 7:53am
Quoting matrixebiz
Just trying to figure out how you look back in time at the last 2 4hr bars to check if it is a positive sign or negative sign? or is that what the indicator is doing already? or is the indicator showing current bar?

Oh and why did you only pick those 8 pairs?
The values are taken from the line buffers for Bar 1 and Bar 2.
Those are not pairs, they are currencies.
The idea is to take the strongest and pair with the weakest of opposite direction.

If USD is strong and EUR is weak then trade EURUSD sell.
If GBP is strong and USD is weak then trade GBPUSD buy.

Robert
  • #207
  • Oct 10, 2008 8:14am Oct 10, 2008 8:14am
Quoting MrPip
The values are taken from the line buffers for Bar 1 and Bar 2.
Those are not pairs, they are currencies.
The idea is to take the strongest and pair with the weakest of opposite direction.

If USD is strong and EUR is weak then trade EURUSD sell.
If GBP is strong and USD is weak then trade GBPUSD buy.

Robert
Ok, yes, thank you , I understand the rules now but your Buffers 1 and 2 is looking back TWO 4HR bars to get it's values, correct? as per rules and not current bar
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #208
  • Oct 10, 2008 8:20am Oct 10, 2008 8:20am
I'll have to read the thread again to figure out what the buffers are telling me and what the indicator is telling me
How is the indicator calculating whether to display + or - and how the buffers are calculating it's + or -

Like for example is the indicator displaying a + beside AUD because the last bar it was rising and the bar before that was rising also? or is it calculating differences?

I know I can trade on what the indicator is telling me but just trying to analyze a little on what is is referring to to get this value.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #209
  • Oct 10, 2008 8:28am Oct 10, 2008 8:28am
Good morning,
I just put in another trade 5 minutes ago.It is already positive.
Let me hold for a while and see what happens.The last trade I put in last night made almost 2000 pips overnight.
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  • #210
  • Oct 10, 2008 8:35am Oct 10, 2008 8:35am
ES Trader,

Are you using a blanket stop or individual stops on each currency?

TIA.

Carol
  • #211
  • Oct 10, 2008 8:44am Oct 10, 2008 8:44am
Thanks for all the input.
But I see lot of mis information. I saw some one saying if Euro is strong and Usd is weak to sell eurusd. That is not true. It should be buy eurusd.

I also see too many indicators causing too much confusion.

Guys, it is so very simple even a 5th grader can do it. JUST LOOK Visually the LAST two Completed pair in the data window and figure out which is strong and which is weak. Then look at all the currency pairs offered by your broker and put the trade.

Of course do not put pair with similar polarity. For eg if both eur and usd is weak. then there is no traad on eurusd. It is very Simple system guys. Life is already a mess and dont make it even more tough.
I also see guys picking one or two pairs and trying it out. It does not work well. Put in trades on ALL the currency pairs offered by your broker.
thanks
Kris
Look at the trades I took 15 minutes ago.Is alredy up $300.00
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  • #212
  • Oct 10, 2008 8:48am Oct 10, 2008 8:48am
Quoting ES Trader
Thanks for all the input.
But I see lot of mis information. I saw some one saying if Euro is strong and Usd is weak to sell eurusd. That is not true. It should be buy eurusd.

I also see too many indicators causing too much confusion.

Guys, it is so very simple even a 5th grader can do it. JUST LOOK Visually the LAST two Completed pair in the data window and figure out which is strong and which is weak. Then look at all the currency pairs offered by your broker and put the trade.

Of course do not put pair with similar polarity. For eg if both eur and usd is weak. then there is no traad on eurusd. It is very Simple system guys. Life is already a mess and dont make it even more tough.
I also see guys picking one or two pairs and trying it out. It does not work well. Put in trades on ALL the currency pairs offered by your broker.
thanks
Kris
Look at the trades I took 15 minutes ago.Is alredy up $300.00
but I'm not smarter than a 5th grader
anyway, you don't have the data window open on your chart so when you say look at the last two bars in the data window where are you referring? and by strong you mean + or - for both bars?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #213
  • Oct 10, 2008 8:49am Oct 10, 2008 8:49am
Nice system ES Trader. I've been following signals on FXDD and placing live trades (all possible permutations) in Oanda every 4 hrs. Cumulative trades have always gone to nice profit in less than 30 minutes.

Thanks for sharing, and I hope it continues to work after the current economic mess.

The rules are simple:

You got 2 currencies to compare, A and B

1) If you got A currency strong (+) and B currency weak (-), then you can go long A/B or short B/A, whichever combination is possible.

2) If you got A currency weak (-) and B currency strong (+), then you can go long B/A or short A/B, whichever combination is possible.

3) If A and B is strong (+), then no trade.

4) If A and B is weak (-), then no trade.
  • #214
  • Oct 10, 2008 8:51am Oct 10, 2008 8:51am
woh! now it is up $700. Cant believe. May be like someone said here , all this world financial turmoil and resulting increased volatility is responsible. May be this is what Fedreral reserve should be doing, trading our system to shore up the banks. LOL
  • #215
  • Oct 10, 2008 9:00am Oct 10, 2008 9:00am
Quoting ES Trader
woh! now it is up $700. Cant believe. May be like someone said here , all this world financial turmoil and resulting increased volatility is responsible. May be this is what Fedreral reserve should be doing, trading our system to shore up the banks. LOL
You've made many trades today, I thought you only trade the first 15min on the 4hr bar?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #216
  • Oct 10, 2008 9:03am Oct 10, 2008 9:03am
Kenshin,
YOU GOT IT RIGHT. That very much summarises the entire system. If there is any more question from any newbies, every one should refer them to your posting. Thanks
Kris
  • #217
  • Oct 10, 2008 9:05am Oct 10, 2008 9:05am
I'm trying to put together an EA for this at the moment. Could someone set up a list of all possible currencies? I'm trying to make sure I haven't missed any.
  • #218
  • Oct 10, 2008 9:13am Oct 10, 2008 9:13am
Raygun,
Look at brokers like alpari or fxdd. But I would not like to trade exotics like rubles,african rand etc.The spreads are too wide. I think if I am right spread for rand was 200-250 pips.
  • #219
  • Oct 10, 2008 9:18am Oct 10, 2008 9:18am
Quoting Ronald Raygun
I'm trying to put together an EA for this at the moment. Could someone set up a list of all possible currencies? I'm trying to make sure I haven't missed any.
Cool, here are the ones IBFX has;
EUR USD JPY AUD CHF NZD GBP CAD DKK CZK MXN PLN SGD ZAR

but IBFX doesn't have CADJPY together and possibly other combos, probably best to stick with just the majors or maybe not, I guess it just wont place that one trade
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #220
  • Oct 10, 2008 9:18am Oct 10, 2008 9:18am
No probs, and thankyou. Its good to see some hefty pippage going down. My eyes are glued to this thread, lol.
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