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Trading system using relative strength

  • #361
  • Oct 11, 2008 9:43am Oct 11, 2008 9:43am
Quoting sonicdeejay
ES trader...
Nice thread I must say,...
lotsa correlated pairs methods popping out these days... I find it cool and profitable..
Btw..What is the latest ccpf indi that u guys..using and where can I find it??


Pipo... Thx for the excel sheet buddy...

Sonic
GOTCHA !. You did not read post 1. It is right there> Also read couple of post above this, which has a link for MQ4 artcle regarding realtive strength and currency correlation. You can also download the indicator from that aricle.
thanks
Kris
  • #362
  • Oct 11, 2008 9:54am Oct 11, 2008 9:54am
That was a pleasant read. Thanks to all, but especially to ES, who offered us this in the first place.

I made a bomb out of basket trading the T101 method last week. This looks even better and I am looking forward to trying it out.

Attached are my offerings. The scripts place individual trades if you drag them onto the relevant chart. TP and SL are entered as pips, should you want them.

The MagiicNumber defaults to that of my trade manager. Some of you might find the manager useful as it has global loss closure as well as global profit closure features - it is all in the documentation.

Click on the link in my sig to download the manager - it is completely free and in mql format, so programmers can make their own changes.

Have a great weekend, everyone, and let's all get rich next week.


Attached File(s)
File Type: mq4 Market Long.mq4   2 KB | 1,477 downloads
File Type: mq4 Market Short.mq4   2 KB | 1,374 downloads
  • #363
  • Oct 11, 2008 9:55am Oct 11, 2008 9:55am
For those who prefer the copy and paste version I have added also more combination and done the automated buy/sell colors for easier viewing.
Just make sure you right the click data window, select show and remove all ticks except the date and that there are no other indicators on the chart otherwise the data doesn't line up with the exel template. Re-read #post 325
Attached File(s)
File Type: xls rStrength(1).V.03.xls   30 KB | 1,798 downloads
  • #364
  • Oct 11, 2008 10:01am Oct 11, 2008 10:01am
Quoting ES Trader
GOTCHA !. You did not read post 1. It is right there> Also read couple of post above this, which has a link for MQ4 artcle regarding realtive strength and currency correlation. You can also download the indicator from that aricle.
thanks
Kris
Nice one..ES trader...
Will check it out...Thanx...

Sonic
  • #365
  • Oct 11, 2008 10:11am Oct 11, 2008 10:11am
PIPO, that is one great excel sheet you made. I don't know how it could be any easier. I've finished reading the entire thread, and have to think this will work consistently because you're always buying the strong currency and selling the weaker one that is trending either strong or weak, plus trading a basket that counters a pair or two that might not keep trending the same way they were based on the last 4 hour bar. About the only way I see this not working is in really choppy markets.
Quoting Pipo
I have put together an automated pair selector in an Exel worksheet. Just enter + or - to the corresponding currency and it will make the right combination of pairs you can trade.
  • #366
  • Oct 11, 2008 10:13am Oct 11, 2008 10:13am
Quoting SteveHopwood
That was a pleasant read. Thanks to all, but especially to ES, who offered us this in the first place.

I made a bomb out of basket trading the T101 method last week. This looks even better and I am looking forward to trying it out.

Attached are my offerings. The scripts place individual trades if you drag them onto the relevant chart. TP and SL are entered as pips, should you want them.

The MagiicNumber defaults to that of my trade manager. Some of you might find the manager useful as it has global loss closure as well as global profit closure features - it is all in the documentation.

Click on the link in my sig to download the manager - it is completely free and in mql format, so programmers can make their own changes.

Have a great weekend, everyone, and let's all get rich next week.


stevehopwood,
This system is totally different from 101 method. The scripts you mentioned ,will it STRICTLY follow the CCFP indicator and open trades depending upon which currency is strong/weak.?
Hope you read my post#! and created the script follwing my ideas.
IF this is following 101 system please remove it since this system is totally different.
thanks
Kris
  • #367
  • Oct 11, 2008 10:16am Oct 11, 2008 10:16am
Some great posts since i was here yesterday. This is a great and simple system. As a test yesterday I used the manual data wndow to get the values and compared them to the original + and - on the original CCFp indicator. They were identical.

This week I'm going to extract the data window values to Excel, calculate the difference, use Pipo's excellent spreadsheet to get the pairs and place the trades. That should take 3 minutes tops if you're comfortable with Excel. I'm curious to see how the + and - will compare to the original CCFp and MrPip's rewritten version.

This system works. I had two positive "baskets" of trades yesterday. What I didn't do was to play all pairs that qualified on fxdd so my pip return was smaller. This week I will follow the rules and enter all trades.

My suggestion is to never place trades like this without protecting yourself from failures: sudden bad news that tanks prices or power failures that make it hard for you to manage your trades. Trader101's 2protect EA is very good for securing profits. I'm not sure if it serves as a SL. There are EAs out there that will let you set a value. I've attached one. It's set right now to -1000 which means if your account loss exceeds -1000 it will close all trades. I think i got this one from the trader101 old forum.

As far as an EA goes I would like to see one only because there are times during the day that I can't be at the computer. Also I try to trade the London session but don't always wake up. So an EA that could do the calculations and place a trade at 4 am would be awsome.

I respect EStrader's desire to keep it simple and to stick to the original rules.
Attached File(s)
File Type: mq4 CloseTrades_After_Account_Loss_TooMuch.mq4   3 KB | 993 downloads
  • #368
  • Oct 11, 2008 10:18am Oct 11, 2008 10:18am
SteveH,

There are some real differences here and a lot of indis floating around -- hard to keep track sometimes of which indi goes with which method. Where 101 would either buy all or sell all, ES's method buy's those moving up and sells those moving down.

Glad you're here. I really like your previous buy all and sell all scripts with the pop up that alerts you to how many trades were opened, etc. Nice work.
  • #369
  • Oct 11, 2008 10:24am Oct 11, 2008 10:24am
Quoting ES Trader
stevehopwood,
This system is totally different from 101 method. The scripts you mentioned ,will it STRICTLY follow the CCFP indicator and open trades depending upon which currency is strong/weak.?
Hope you read my post#! and created the script follwing my ideas.
IF this is following 101 system please remove it since this system is totally different.
thanks
Kris
Its only a script to place long or short orders... nothing basket related.
  • #370
  • Oct 11, 2008 10:31am Oct 11, 2008 10:31am
Quoting nubchai
My suggestion is to never place trades like this without protecting yourself from failures: sudden bad news that tanks prices or power failures that make it hard for you to manage your trades. Trader101's 2protect EA is very good for securing profits. I'm not sure if it serves as a SL. There are EAs out there that will let you set a value. I've attached one. It's set right now to -1000 which means if your account loss exceeds -1000 it will close all trades. I think i got this one from the trader101 old forum.
Good point the market is very nervous and chance of more bad news hitting the market/headlines can be expected. Even in weeks or month to come.
  • #371
  • Oct 11, 2008 10:32am Oct 11, 2008 10:32am
Quoting ES Trader
You dont need any Fancy EA , indicator except for ccfp. It takes just 5-10 mintes to get the data from data window, determine which currency is strong/weak and double click on all currency pairs offered by your broker on Market Watch window and send in your order.
Thats it
Kris
I can see which currencies are strong or weak at a glance, and I can certainly manage a double-click. It is the bit in between where the difficulty lies for me. By the time I have worked out what to buy and what to sell, the market will be closed for the week.

1) I have to spontaneously remember when a four hour candle closes and I will be fortunate if I can manage that one time out of ten.

2) I have to hold half a currency in mind while mentally retrieving its 7 possible partners.

3) Match it against a list of 49 possible permutations for one my broker has.

4) Do it again the other way round in case it is USDGBP instead of GBPUSD. This also acts as a error check and isn't strictly necessary.

5) When there is a match look at the indy again for the polarity of the first currency.

6) Get the polarity of the second.

7) Compare to make sure they are opposing.

8) Assumng they are, work out which way round is buy or sell.

9) Repeat 2) to 8) another 7 times.

Many of you can look at the little symbols and make this calculation in a heartbeat. I can't. My brain does not have enough RAM.
  • #372
  • Oct 11, 2008 10:35am Oct 11, 2008 10:35am
If you are strictley following to take up trade based on four hour candle
the number of trades you can enter will be 2 as follows

Time Frame 4 hours

1 Friday US close candle
2 Asia
3 Asia
4 London
5 london,Europe
6 Europe,us
7 us close

Trade on candle 3 and trade on candle 6
Candle 7 will be for next day comparison
  • #373
  • Oct 11, 2008 10:46am Oct 11, 2008 10:46am
My suggestion is to never place trades like this without protecting yourself from failures: sudden bad news that tanks prices or power failures that make it hard for you to manage your trades. Trader101's 2protect EA is very good for securing profits. I'm not sure if it serves as a SL. There are EAs out there that will let you set a value. I've attached one. It's set right now to -1000 which means if your account loss exceeds -1000 it will close all trades. I think i got this one from the trader101 old forum.



Do you have to place this EA on each trade you open for it to work properly?

Thanks
  • #374
  • Oct 11, 2008 10:48am Oct 11, 2008 10:48am
Dear Icicle

Mr Pipo has made a nice excel sheet where you have to copy and paste
and the time taken is 1 minute and also mr pipo has provided in the
excel sheet what to buy and what to sell with colour coding

You can attach the candle time in the chart that way you know when
the four hour candle is closing and the next candle opening

I just posted the number of candles in a trdg day from last us close to
the next day

it is not all difficult
  • #375
  • Oct 11, 2008 11:02am Oct 11, 2008 11:02am
Quoting nubchai
Some great posts since i was here yesterday. This is a great and simple system. As a test yesterday I used the manual data wndow to get the values and compared them to the original + and - on the original CCFp indicator. They were identical.

This week I'm going to extract the data window values to Excel, calculate the difference, use Pipo's excellent spreadsheet to get the pairs and place the trades. That should take 3 minutes tops if you're comfortable with Excel. I'm curious to see how the + and - will compare to the original CCFp and MrPip's rewritten version.

This system works. I had two positive "baskets" of trades yesterday. What I didn't do was to play all pairs that qualified on fxdd so my pip return was smaller. This week I will follow the rules and enter all trades.

My suggestion is to never place trades like this without protecting yourself from failures: sudden bad news that tanks prices or power failures that make it hard for you to manage your trades. Trader101's 2protect EA is very good for securing profits. I'm not sure if it serves as a SL. There are EAs out there that will let you set a value. I've attached one. It's set right now to -1000 which means if your account loss exceeds -1000 it will close all trades. I think i got this one from the trader101 old forum.

As far as an EA goes I would like to see one only because there are times during the day that I can't be at the computer. Also I try to trade the London session but don't always wake up. So an EA that could do the calculations and place a trade at 4 am would be awsome.

I respect EStrader's desire to keep it simple and to stick to the original rules.
Thanks for the contribution...Do I place this in the experts file or indicators file?
Where would i attach it on a chart? On all charts that I have a position in?
Is the 1000 pip value changeable?

Thanks again
  • #376
  • Oct 11, 2008 11:47am Oct 11, 2008 11:47am
Here's a couple nice EA's that has to be put in the EA folder not scripts. If it's going against you this will close all.

The equity close all is a set to the profit you want and it closes all when your profit has been reached.
Attached File(s)
File Type: mq4 Close all open and pending orders.mq4   1 KB | 996 downloads
File Type: mq4 Close all open positions.mq4   1 KB | 1,063 downloads
File Type: mq4 CloseAtEquityAmount v1.0.mq4   3 KB | 1,030 downloads
  • #377
  • Oct 11, 2008 11:47am Oct 11, 2008 11:47am
Quoting ES Trader
Hayseed and others ,
I would like to know whether we can create an EA or indicator or whatever, keeping strictly the ORIGINAL CCFP and not using LWMA etc.

Infcat read the following article if one is interested in learning more about currency correlation and relative strength.
thanks
Kris
http://articles.mql4.com/484
The original indicator uses LWMA as part of the logic to determine relative strength.

code snippets.

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;
}

then

if(EUR)
{
arrEUR[i] = 0;
if(USD)
arrEUR[i] += EURUSD_Fast / EURUSD_Slow - 1;
if(GBP)
arrEUR[i] += (EURUSD_Fast / GBPUSD_Fast) /
(EURUSD_Slow/GBPUSD_Slow) - 1;
if(AUD)
arrEUR[i] += (EURUSD_Fast / AUDUSD_Fast) /
(EURUSD_Slow/AUDUSD_Slow) - 1;
if(NZD)
arrEUR[i] += (EURUSD_Fast / NZDUSD_Fast) /
(EURUSD_Slow/NZDUSD_Slow) - 1;
if(CHF)
arrEUR[i] += (EURUSD_Fast*USDCHF_Fast) /
(EURUSD_Slow*USDCHF_Slow) - 1;
if(CAD)
arrEUR[i] += (EURUSD_Fast*USDCAD_Fast) /
(EURUSD_Slow*USDCAD_Slow) - 1;
if(JPY)
arrEUR[i] += (EURUSD_Fast*USDJPY_Fast) /
(EURUSD_Slow*USDJPY_Slow) - 1;
}// end if EUR

The arrEUR buffer is what is diplayed in the indicator window and is where the data window gets the values for EUR.
The other currencies use the same type of logic.

So the LWMA 3,5 cross is used to determine the trend of the pair. From that a formula is used to determine relative strength of each currency in relation to the USD.

When I rewrote the indicator using Close of bars I was simply using a different method to determine the general trend of the pair.

Robert
  • #378
  • Oct 11, 2008 11:54am Oct 11, 2008 11:54am
Quoting matrixebiz
So the original CCFp indicator is designed o calculate it's previous bars with moving averages and the new one by MrPIP with the close of the last two bars. Which one do I use if I want to stay with the original method? which one you think would be more accurate? What is the Period used by LWMA?
All of the versions I modified allow the use of the original method if using the default values. I just added the possibility of comparing different MA methods and prices to see if there might be an earlier signal.

The close version is the only one that might be different because the logic uses the close of the bars to determine trend instead of the LWMA 3,5 cross on the weighted price.

Robert
  • #379
  • Oct 11, 2008 11:56am Oct 11, 2008 11:56am
Quoting harigp
Dear Icicle

Mr Pipo has made a nice excel sheet where you have to copy and paste
and the time taken is 1 minute and also mr pipo has provided in the
excel sheet what to buy and what to sell with colour coding

You can attach the candle time in the chart that way you know when
the four hour candle is closing and the next candle opening

I just posted the number of candles in a trdg day from last us close to
the next day

it is not all difficult
Yes I have been playing with Mr Pipo's excellent spreadsheet, changing the formulas to absolute references and rearranging it alphabeticaly. I was working on something similar, but he posted it first.

>You can attach the candle time in the chart

I don't understand the above. Is there any way to make an alert go off at the open or close of a four hour candle? I have ADD with hyperfocus and lose all track of time. That is, my attention does not switch focus automatically, it stays on whatever it is interested in. (Even once when a room was flooding with water. It was past my ankles and I never realised).
  • #380
  • Oct 11, 2008 11:57am Oct 11, 2008 11:57am
Since Mr pipo has provided the excellent excel sheet I did the back test on
candle ( four Hours)

Thursday us close candle 10/10/2008
Friday Asia first 4 hour candle closed 10/10/2008

Ie you will enter trade on the third candle of friday and the result of some of the currency are as follows

Report

EU/AUD BUY ( four hour candle)

open price 2.0325 close price 2.0650 pip 325 GAINED


GBP/JPY SELL

OPEN 168.25 CLOSE 166.6 PIP 165 GAINED


GBP/US$ SELL

OPEN 1.7015 CLOSE 1.6833 182 GAINED

This shows even if you are little bit late in entry you can still make the pip
and coming back to high or low of the candle as mentioned above the stop
loss could have been between 100 to 150,but I think other currency pair
will offset the the high or low. Get out if you have made good pip

There were 15 trades on the above candle
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