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Trading system using relative strength

  • #301
  • Oct 10, 2008 7:56pm Oct 10, 2008 7:56pm
I have been reading some of the recent posts. Now I understand why 101 got pissed off and shut down the thread. I am almost debating the same.
For eg Fourx accuses me of some ulterior motive for not responding to his question. I dont know why data is different from each brokers. I cant explain.

Then I see an Ea being created by hayseed looking at AUD jpy which has nothing to do with this extremely simple system. I cant believe why any one has problem looking at the data of JUST 2 bars and making a decision.

Why does everuone has to make things more complicated when it can be done so easily.
I have no Idea.
  • #302
  • Oct 10, 2008 7:59pm Oct 10, 2008 7:59pm
Quoting ES Trader
just 5 minut ago put in another trade. Is already in positive territory.will see where it goes

how did these trades pan out? this is where i noticed the main discrepencies?
  • #303
  • Oct 10, 2008 8:00pm Oct 10, 2008 8:00pm
ES,

in the indicator there is this code fragment that confuses me:

for(int i = 0; i < limit; i++)
{
// Preliminary calculation
if(EUR)
{
double EURUSD_Fast = ma(sEURUSD, Fast, MA_Method, Price, i);
double EURUSD_Slow = ma(sEURUSD, Slow, MA_Method, Price, i);
if(!EURUSD_Fast || !EURUSD_Slow)
break;
}


Since you go through the loop 200 times, and the extern EUR is 1(true) how do you avoid the "multiple declaration" error that would cause for *_Fast and *_Slow ?

Does that question make sense?


Ron(ForexMT4)
  • #304
  • Oct 10, 2008 8:02pm Oct 10, 2008 8:02pm
Quoting mitchp
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.
Should upload if you but the file in a zip file.
  • #305
  • Oct 10, 2008 8:08pm Oct 10, 2008 8:08pm
Quoting ES Trader
I have been reading some of the recent posts. Now I understand why 101 got pissed off and shut down the thread. I am almost debating the same.
For eg Fourx accuses me of some ulterior motive for not responding to his question. I dont know why data is different from each brokers. I cant explain.

Then I see an Ea being created by hayseed looking at AUD jpy which has nothing to do with this extremely simple system. I cant believe why any one has problem looking at the data of JUST 2 bars and making a decision.

Why does everuone has to make things more complicated when it can be done so easily.
I have no Idea.

ES. that is all i wanted to hear!

I did not accuse you of an ulterior motive, i was just after some guidance/ advice.

As i've said before , i think your method is great/simple, keep it that way.

Apoligies to you if you misinterpret what i was after
  • #306
  • Oct 10, 2008 8:09pm Oct 10, 2008 8:09pm
I just manually checked the data on the last 2 bars on 3 brokers, FXDD, Interbank, and Alpari.

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

Like I said, only slight differences

Still waiting for your broker name and time so we can compare FOURX. I haven't ever seen major differences across 2 brokers yet.
  • #307
  • Oct 10, 2008 8:17pm Oct 10, 2008 8:17pm
Fourx,
Apology accepted. Incidentally last trade I did made 450 pips.
kris
  • #308
  • Oct 10, 2008 8:26pm Oct 10, 2008 8:26pm
es trader.... even though you mentioned creating an ea in your first post, i have not and have no plans of posting any ea or indicator.... my post was simply an attempt to explain the data window and the indicator to member forenxe.....


fwiw,
the ea does place trades in the exact manner in which you have suggested, unless i have over looked you mentioning not to trade the audjpy....... it is backtestable to prove it trades following your rules..... for the post, i reduced it to a minimum for clarity's sake......

in any event, i have removed the post...... and wish you great success in your system.....h
to trade and code, keep both simple... no call to impress....h
  • #309
  • Oct 10, 2008 9:02pm Oct 10, 2008 9:02pm
Quoting MrPip
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
Since you've modified this to work with IBFX mini accounts for these currencies;
AddChar = StringSubstr(Symbol(), 6, 1);
sAUDUSD = "AUDUSD" + AddChar;
sEURUSD = "EURUSD" + AddChar;
sUSDCHF = "USDCHF" + AddChar;
sNZDUSD = "NZDUSD" + AddChar;
sGBPUSD = "GBPUSD" + AddChar;
sUSDJPY = "USDJPY" + AddChar;
sUSDCAD = "USDCAD" + AddChar;
Does that mean that it wont work with the other 14 or so ?? GBPNZD, AUDJPY, ...etc Just wondering why you only selected those 7 pairs out of the possible 22
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #310
  • Oct 10, 2008 9:03pm Oct 10, 2008 9:03pm
hayseed,
Thanks for your explanation. I might have misunderstood your intention. I am not very good in coding/ programming etc. I dont have problem having EA , but I want to make sure this is very simple system and want to keep it that way. I have no problem any one creating indicator/Ea or whatever as long as the simplicity is maintained. I also want to emphasis that this sytem seem to work best when multiple currencies are traded at the same time.
I am sorry if I hurt your feelings.
Thanks
Kris
  • #311
  • Edited 9:19pm Oct 10, 2008 9:16pm | Edited 9:19pm
ES Trader,

Do you place your trades based on the level of strength/weakness of the closed 4HR candle? For example....

1). When USD is "-14" and EUR is "+1" --- will you BUY EUR/USD or

2). When USD is "-14" and EUR is "+33" --- will this be a better BUY for EUR/USD ?

Appreciate you spending your time and effort teaching us.

Vincent
  • #312
  • Oct 10, 2008 9:20pm Oct 10, 2008 9:20pm
Quoting goldcourse
ES Trader,

Do you place your trades based on the level of strength/weakness of the closed 4HR candle? For example....

1). When USD is "-14" and EUR is "+1" --- will you BUY EUR/USD or

2). When USD is "-14" and EUR is "+33" --- will this be a better BUY for EUR/USD ?

Appreciate you spending your time and effort teaching us.

Vincent
The pair that is gaining strength is the one you would buy/sell. Form what I can determine the actual numbers don't matter that much as long as one is getting stronger and the other pair is getting weaker. In this case both examples would be a EUR buy signal.
  • #313
  • Edited 9:44pm Oct 10, 2008 9:30pm | Edited 9:44pm
Hi, maybe someone can make a script to open trades based on CCfp data. So, we just put "1" for weak and "2" for strong in data "input" script for each currency (there are 8 currencies) then the script will open pair trades based on the data. this is just my idea to save time. thank you
  • #314
  • Oct 10, 2008 9:35pm Oct 10, 2008 9:35pm
Quoting ozziedave
The pair that is gaining strength is the one you would buy/sell. Form what I can determine the actual numbers don't matter that much as long as one is getting stronger and the other pair is getting weaker. In this case both examples would be a EUR buy signal.
ozziedave,

Yes, you are right that both examples would be a EUR buy signal. However, I think example 2 would be better chance turning positive.
Again as ES Trader mentioned this strategy has to work with many currency pairs in trade.

Thanks
Vincent
  • #315
  • Oct 10, 2008 9:44pm Oct 10, 2008 9:44pm
I would like to clarify one thing,
if EUR is + and USD is - I would BUY EURUSD

if EUR is - and USD is + I would SELL EURUSD

When you SELL your expecting the base currency to go down in this case EUR and the quote currency in this case USD to go up, correct?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #316
  • Oct 10, 2008 9:49pm Oct 10, 2008 9:49pm
Quoting matrixebiz
I would like to clarify one thing,
if EUR is + and USD is - I would BUY EURUSD

if EUR is - and USD is + I would SELL EURUSD

When you SELL your expecting the base currency to go down in this case EUR and the quote currency in this case USD to go up, correct?

I think so
  • #317
  • Oct 10, 2008 9:53pm Oct 10, 2008 9:53pm
Quoting matrixebiz
Since you've modified this to work with IBFX mini accounts for these currencies;
AddChar = StringSubstr(Symbol(), 6, 1);
sAUDUSD = "AUDUSD" + AddChar;
sEURUSD = "EURUSD" + AddChar;
sUSDCHF = "USDCHF" + AddChar;
sNZDUSD = "NZDUSD" + AddChar;
sGBPUSD = "GBPUSD" + AddChar;
sUSDJPY = "USDJPY" + AddChar;
sUSDCAD = "USDCAD" + AddChar;
Does that mean that it wont work with the other 14 or so ?? GBPNZD, AUDJPY, ...etc Just wondering why you only selected those 7 pairs out of the possible 22
I did not select them. They were alredy in the indicator I started with. I only modified to do a vertical plot to show the numbers and added LSMA as a less lagging MA. The rest is just code cleanup.
  • #318
  • Oct 10, 2008 9:56pm Oct 10, 2008 9:56pm
Quoting MrPip
I did not select them. They were alredy in the indicator I started with. I only modified to do a vertical plot to show the numbers and added LSMA as a less lagging MA. The rest is just code cleanup.
Ok, thanks

@ES Trader - are you trading with any other currency combinations other than the ones listed in the indicator?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #319
  • Oct 10, 2008 9:56pm Oct 10, 2008 9:56pm
Quoting matrixebiz
I would like to clarify one thing,
if EUR is + and USD is - I would BUY EURUSD

if EUR is - and USD is + I would SELL EURUSD

When you SELL your expecting the base currency to go down in this case EUR and the quote currency in this case USD to go up, correct?
Basically, you are selling a weaker currency(EUR) and buying a stronger currency(USD) thus, you will SELL EURUSD
  • #320
  • Oct 10, 2008 9:59pm Oct 10, 2008 9:59pm
I just finished modifying the indicator to use Close of last 2 bars to determine strength. I am not sure if this will work as well as the original.

I did find that the check for strength is all related to the USD. There is no check for cross pairs like GBPJPY or EURGBP, etc.

I do not know how this might reflect in a trade for GBPJPY.

I am attaching the first version of the indicator using the close of the last 2 bars. The formula used is the same as before, I only replaced the fast MA and slow MA values with the valuse for close 1 and close 2 for each pair.

I suggest someone contact the original author of the indicator to check his/her thoughts in this matter.
There is a link in the indicator.


Robert
Attached File(s)
File Type: mq4 CCFp_Close_v1.0vert.mq4   19 KB | 1,462 downloads
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