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Trading system using relative strength

  • #221
  • Oct 10, 2008 9:28am Oct 10, 2008 9:28am
Quoting matrixebiz
You've made many trades today, I thought you only trade the first 15min on the 4hr bar?
I think he use different brokers (IBFX, Alpari). Then the closing hour of the 4H bar is different, and he can trade more times.
  • #222
  • Oct 10, 2008 9:33am Oct 10, 2008 9:33am
Quoting kenshin
No probs, and thankyou. Its good to see some hefty pippage going down. My eyes are glued to this thread, lol.
Ok, so when currency A shows + and currency B shows - , what we (the indicator) are doing is looking at the previous two 4hr bars, for which I'm going to reference as bar1(one bar back) and bar2(two bars back) so if with currency "A" bar2<bar1 then that gives a +, correct? is it looking at bar open and closes or Highs and Lows to get these signals?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #223
  • Oct 10, 2008 9:34am Oct 10, 2008 9:34am
Quoting Kfx
I think he use different brokers (IBFX, Alpari). Then the closing hour of the 4H bar is different, and he can trade more times.
Ah, ok
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #224
  • Oct 10, 2008 9:37am Oct 10, 2008 9:37am
Mr Pip,

Can you take the indi you've been moding and take it to another level where it would show on the chart which pairs to buy and which to sell?

Attached is a pic of trendchaser's EA from the 101 thread. Something like this would be extremely nice using the calcs from the CCFp. In this EA he actually has scripts embedded in the chart that alllow you to open/close baskets, etc.

If ES's idea using the CCFp can be brought to a similar level, that would be amazing. It would be great to be able to open a mixed basket with one click based on the CCFp calcs.
Attached Image (click to enlarge)
Click to Enlarge Name: trendchaser.gif Size: 29 KB
  • #225
  • Oct 10, 2008 9:40am Oct 10, 2008 9:40am
Quoting BenQ
Mr Pip,

Can you take the indi you've been moding and take it to another level where it would show on the chart which pairs to buy and which to sell?

Attached is a pic of trendchaser's EA from the 101 thread. Something like this would be extremely nice using the calcs from the CCFp. In this EA he actually has scripts embedded in the chart that alllow you to open/close baskets, etc.

If ES's idea using the CCFp can be brought to a similar level, that would be amazing. It would be great to be able to open a mixed basket with one click based on the CCFp calcs.
Yes, that would be cool, for it to Automatically place the + and - trades at the same time when you decide, but Ronald if making an EA for this also.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #226
  • Oct 10, 2008 9:45am Oct 10, 2008 9:45am
Attached find a very crude excel worksheet to help determine trades based upon this method. Enter the appropriate "+" and "-" on worksheet 1 and then click on worksheet 2 and to see the suggested trades. It had been helpful to me, I hope you can use it.
Attached File(s)
File Type: xls rStrength.xls   26 KB | 1,854 downloads
  • #227
  • Oct 10, 2008 9:47am Oct 10, 2008 9:47am
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
Hi ES Trader
First of all I want to thank you for share your system.

I need to ask you a very stupid question, please sorry, but I'm trying to see what I'm doing wrong. I've a different picture that you, if you see in my chart eur is - and in your is + (I'm using Alphari too and CCFp_v1.0.2b) PLEASE CAN YOU HELP ME

Thank you in advance an sorry again for this stupid problem
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 12 KB
  • #228
  • Oct 10, 2008 9:47am Oct 10, 2008 9:47am
Are we looking simply for the +/- symbols or are we interested in there relative position to the mid line. For example this morning the attached signal came up - the JPY, for example is a - but is the highest above middle 0 and AUD is + even though it is the lowest below middle 0. Do you trade as JPY is weak and AUD is strong even though graphically the opposite is indicated? THe question is: does the position of theline factor into the deciscion or is all +/-?
Attached Image (click to enlarge)
Click to Enlarge Name: strength.jpg Size: 203 KB
  • #229
  • Oct 10, 2008 9:48am Oct 10, 2008 9:48am
Quoting mitchp
Attached find a very crude excel worksheet to help determine trades based upon this method. Enter the appropriate "+" and "-" on worksheet 1 and then click on worksheet 2 and to see the suggested trades. It had been helpful to me, I hope you can use it.
Nice, but getting a Macro error;
Attached Image
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #230
  • Oct 10, 2008 9:50am Oct 10, 2008 9:50am
Good question ahendon that is exactly what is confusing me.

Thanks to ES for sharing
Nick
  • #231
  • Oct 10, 2008 9:51am Oct 10, 2008 9:51am
Quoting matrixebiz
Nice, but getting a Macro error;
the macro was only a clear button,, not really necessary. It seems you can't upload any documents with macros on Forex Factory. Hopefully it stills work. The pairs are based upon my broker - FXDD.
  • #232
  • Oct 10, 2008 9:55am Oct 10, 2008 9:55am
It's been said previously the mid line is not a factor. Just look in the data window for the differences. The + and -'s are nice, but I've seen some posters say those are not always accurate, but have not compared them myself.

The basic method is to just refer to the data window.


Quoting ahendon
Are we looking simply for the +/- symbols or are we interested in there relative position to the mid line. For example this morning the attached signal came up - the JPY, for example is a - but is the highest above middle 0 and AUD is + even though it is the lowest below middle 0. Do you trade as JPY is weak and AUD is strong even though graphically the opposite is indicated? THe question is: does the position of theline factor into the deciscion or is all +/-?
  • #233
  • Oct 10, 2008 9:59am Oct 10, 2008 9:59am
If you click on 'View' at the top of your platform in the Tool Bar, a box will drop down. Then click on Data Window. Place your cursor on the last completed H4 bar and see what the values are for each of the currencies listed. Then place your cursor on the H4 bar before that one and note the values.

You will now have a value for the 2 H4 bars used in the system. Subtract the 2 values. If the value of the more recent completed H4 is greater than the other H4 bar, then you would have a + sign for that currency. If it's less, then you would have a -.

I hope this makes sense and if I'm wrong, ES Trader can correct me.





Quoting ahendon
Are we looking simply for the +/- symbols or are we interested in there relative position to the mid line. For example this morning the attached signal came up - the JPY, for example is a - but is the highest above middle 0 and AUD is + even though it is the lowest below middle 0. Do you trade as JPY is weak and AUD is strong even though graphically the opposite is indicated? THe question is: does the position of theline factor into the deciscion or is all +/-?
  • #234
  • Oct 10, 2008 10:03am Oct 10, 2008 10:03am
Someone had entered in the last "Alpari " Bar?...

USD -
EUR -
GBP +
CHF +
JPY -
AUD +
CAD -
NZD +

Now im lossing more than 1000 Euros .... ... In DEMO, of course
  • #235
  • Oct 10, 2008 10:03am Oct 10, 2008 10:03am
Quoting BenQ
It's been said previously the mid line is not a factor. Just look in the data window for the differences. The + and -'s are nice, but I've seen some posters say those are not always accurate, but have not compared them myself.

The basic method is to just refer to the data window.
So regardless of the value, grater than 0 or less than 0 in the Data Window, as long as 2bars back is less than 1bar back then it's positive?
Attached Image
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #236
  • Oct 10, 2008 10:10am Oct 10, 2008 10:10am
Quoting matrixebiz
So regardless of the value, grater than 0 or less than 0 in the Data Window, as long as 2bars back is less than 1bar back then it's positive?
What you've stated is correct. Forget the 0 line, you are just looking for an upward shift in one currency, and then pairing that with a downward shift in another currency.

Big problem though, I notice you're on M5. You need to be looking at H4.

Also, I've been just using the + and - minus signs of the latest version of the indicator with no issues. You can get three different entry times every 4 hours. FXDD, Alpari, and Interbank.
  • #237
  • Oct 10, 2008 10:10am Oct 10, 2008 10:10am
Your question is kind of akward. All I was saying is that the mid-line in the graph is a non issue. I agree with what Eureka posted a couple above -- that's my understanding as well.

Quoting matrixebiz
So regardless of the value, grater than 0 or less than 0 in the Data Window, as long as 2bars back is less than 1bar back then it's positive?
  • #238
  • Oct 10, 2008 10:12am Oct 10, 2008 10:12am
Quoting kenshin
You're on M5, need to be H4.
Yes, I know, I'm at work so I was just posting a picture to make sure I am looking at the correct Data Window that you guys are referring to.
I'm not using that platform for my trading, I know it should be 4hr.
Thanks
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #239
  • Oct 10, 2008 10:15am Oct 10, 2008 10:15am
Quoting Eureka
If you click on 'View' at the top of your platform in the Tool Bar, a box will drop down. Then click on Data Window. Place your cursor on the last completed H4 bar and see what the values are for each of the currencies listed. Then place your cursor on the H4 bar before that one and note the values.

You will now have a value for the 2 H4 bars used in the system. Subtract the 2 values. If the value of the more recent completed H4 is greater than the other H4 bar, then you would have a + sign for that currency. If it's less, then you would have a -.

I hope this makes sense and if I'm wrong, ES Trader can correct me.
but checking the difference of the two bars doesn't relate to if bar2 is less or greater than bar1.

bar 2 subtract bar 1 could be 0.0034, what does that have to do anything with checking if bar2<bar1?

bar 2 = 0.012 and bar 1 = 0.006 (subtract) = 0.006 positive number but bar 2 is greater than bar1
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #240
  • Oct 10, 2008 10:15am Oct 10, 2008 10:15am
Booked contract 5 minutes ago not waited for 4 hour bar to close looked into
data window and did the trade

US$ inves 247

Profit 133

Booked profit
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