Trading system using relative strength

Quoting harigp

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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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Quoting harigp

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Thank you for publishing this system
may be I can send my son to Canada or Australia for further study

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Quoting MrPip

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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

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Quoting mitchp

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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

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Quoting SteveHopwood

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Yes, of course I read your post. I read the entire thread. I thought I made that clear in my post.

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

Say which bit of this is unclear and I will explain in words of one syllable.

Please extend to me the same courtesy you expect from others - to read my posts properly before reacting to them.

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Quoting harigp

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Thank you for publishing this system
may be I can send my son to Canada or Australia for further study

Ignored

Quoting SteveHopwood

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Yes, of course I read your post. I read the entire thread. I thought I made that clear in my post.

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

Say which bit of this is unclear and I will explain in words of one syllable.

Please extend to me the same courtesy you expect from others - to read my posts properly before reacting to them.

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Quoting BenQ

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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.

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