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Trading system using relative strength

  • #781
  • Oct 13, 2008 7:13pm Oct 13, 2008 7:13pm
Quoting ronzzer
Yes, there is. And it would be quite a trick to get it to work as an EA, since it's a script. Put it in your /experts/scripts directory, a restart MT4.

Ron(ForexMT4)
Hi Ron, did you see my other post showing how many more trades that should have been made but the script didn't? or will it only make them if the difference is by so much margin? if so, how much difference does the currency need to be before it will be a valid movement/signal?
Thank you
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #782
  • Oct 13, 2008 7:13pm Oct 13, 2008 7:13pm
Quoting TakeItEasy
I also would like to know if, in every case, I need to have the CCFp indi AT LEAST in my experts/indicators folder in order to make run your indicator correctly.
No need. The CCFp-Diff doesn't call any external indicator. All original calculation is coded inside.

Quoting TakeItEasy
Besides, what chart I have to attach your indi to?
I saw you attached it on GBPUSD (H4) chart, but I think the pair doesn't matter, right?
Doesn't matter the pair, doesn't matter the TF.

Quoting TakeItEasy
P.S.: I think your indi is the best tool to use to trade this system, you made a fabulous work with it, thanks a lot!
Really appreciate your kind comment. Thanks.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #783
  • Oct 13, 2008 7:14pm Oct 13, 2008 7:14pm
I've been using this EA without problem until now. On this last basket, it closed the trades almost as fast as I was opening them. Has anyone experienced that with this EA. Usually works fine and as profit builds it locks it in. This time, it was closing trades while still in negative.

Which EAs to take profit have been working without error? Thanks.
  • #784
  • Oct 13, 2008 7:15pm Oct 13, 2008 7:15pm
Quoting BluePearl
here is another suggestion: have the option to only list the pairs that are to be traded.
Already in since the first version. Just set to false the pairs you don't want.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #785
  • Oct 13, 2008 7:15pm Oct 13, 2008 7:15pm
Quoting FerruFx
I plan these changes for the next release. Let me some time!

FerruFx
What is the amount of difference a currency has to make between bars before it is detected as a + or -?
Thank you
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #786
  • Oct 13, 2008 7:17pm Oct 13, 2008 7:17pm
I think he meant, do not display the ones that say, "no trade".

Quoting FerruFx
Already in since the first version. Just set to false the pairs you don't want.

FerruFx
  • #787
  • Oct 13, 2008 7:19pm Oct 13, 2008 7:19pm
Quoting BenQ
I think he meant, do not display the ones that say, "no trade".
Oh yes. Got it!!! My english understanding lag a bit!

Add it on my ToDo list.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #788
  • Oct 13, 2008 7:23pm Oct 13, 2008 7:23pm
Opened up 6 trades 15 minutes ago , +100 pips. This is amazing.
  • #789
  • Oct 13, 2008 7:24pm Oct 13, 2008 7:24pm
Quoting FerruFx
Already in since the first version. Just set to false the pairs you don't want.

FerruFx
what i mean is to have the option to only list the pairs that have a trading signal and not list the pairs that have 'No Trade'. it clears up the screen and makes it easy to go down the list.
  • #790
  • Oct 13, 2008 7:24pm Oct 13, 2008 7:24pm
Hi every one, I have been scared to ask this question cos of the fear of being ignore. How many pairs can be traded at once? (2) do u select the pairs of your choice to trade? Thanks ES Trader, i just got the whole stuff right just the way u been saying simple. Thanks Ferrux fx for the indy. Thanks every one. Nerry.
  • #791
  • Oct 13, 2008 7:29pm Oct 13, 2008 7:29pm
Quoting dan921
My first day trying this system. I am now out of everything with a profit of around 550 pips. Only traded 0.02 lots and did see -250 pips at one stage, I prefer to trade small lots on live acc than trade demo as I find I make different decisions on demo account.
Thanks to all the people who have contributed and especially to ES Trader for sharing this great and simple system with us.

Dan
I agree with you 100% on small lot live trades...even it is a small amount of money, it is still YOUR money you win or lose...the thinking is different.
  • #792
  • Oct 13, 2008 7:30pm Oct 13, 2008 7:30pm
Why close out the trades neart the end of the 4 hour candle? The new candle has identical readings as the last. Why incur the spraed fees? Even if the new candle doesn't produce identical trades, in some cases at least some of the trades would remain the same. I have the 2ProtectAccount EA active, and it seems this is what that EA does....closes all open trades. I wasn't aware that was one of it's functions until now. I was going to just keep them all open, and one by onem they were deleted. Glad to say that the last four hour candle produced ANOTHER 300 pips. This is getting ridiculous!
  • #793
  • Oct 13, 2008 7:37pm Oct 13, 2008 7:37pm
Opened up 8 trades with ODL feed 30 min ago and i m around 400 pips in profit ! Not bad !

Luk
  • #794
  • Oct 13, 2008 7:40pm Oct 13, 2008 7:40pm
For all you FXDD users, the thrill is not gone! I just closed out all my trades (7) from the 4:00 CST bar. All trades were positive pipage, total dollars - $750 all single trades .10 lots.

Can't wait for the next 4 hrs - thanks again ES Trader!
  • #795
  • Oct 13, 2008 7:49pm Oct 13, 2008 7:49pm
Looking forward to the changes. Again, your time and efforts are greatly appreciated.

TimeFreedom

Quoting FerruFx
I plan these changes for the next release. Let me some time!

FerruFx
  • #796
  • Oct 13, 2008 8:03pm Oct 13, 2008 8:03pm
Hi FerruFx

I agree with BlackPearl that it's a good idea to only show the currencies to trade. The list is so long right now, it takes a bit of moving things around my charts to get to the bottom of it.

Do you have any ideas on when to exit? Also, how do you decide when to re-enter again after having exited?

I once saw a Average True Range on someone's chart and it gave the Daily Range and also how much the pair had moved that day. That was quite a good indication of how much steam is left in the pair.

Do you have any idea how often the pairs to trade change?

Do you know of any indicator that tells how long it is till the open of the next candle?

I also noticed that sometimes your indicator doesn't always agree with the original indicator. Today for example, the original had a plus next to the CAN and yours said No Trade. Any idea what to do when that happens?

Thanks so much for all your help and efforts, it is very much appreciated.

Angel
  • #797
  • Oct 13, 2008 8:04pm Oct 13, 2008 8:04pm
So when I first read this thread I though, "just another indicator thats going to help people lose money." Then I started to give it a chance. Last night I opened the trades according to the rules and just came back now to the computer and I was $15000 up. WOW!!! Now I dont think you can base everything on one good set of trades but thats one hell of a start!!! My new 4H candle opens at 10PM EST and I will be opening trades 15 min after open and seeing what happens.

I feel like im pretty good at taking a method and making it newbie proof. Removing all emotions from the decisions and replacing it with hard easy to follow rules. Thats what my 4H 5EMA system is all about. I definatly see the potential in this and will be trying to make a hard set of rules to "newbie proof" this great indicator. Great job ES, very simple and that is the best base to a system.

-Sterling
Founder of Day Trading Forex Live
  • #798
  • Oct 13, 2008 8:12pm Oct 13, 2008 8:12pm
Quoting noangel
Do you have any ideas on when to exit? Also, how do you decide when to re-enter again after having exited?

I once saw a Average True Range on someone's chart and it gave the Daily Range and also how much the pair had moved that day. That was quite a good indication of how much steam is left in the pair.

Do you have any idea how often the pairs to trade change?

Do you know of any indicator that tells how long it is till the open of the next candle?

I also noticed that sometimes your indicator doesn't always agree with the original indicator. Today for example, the original had a plus next to the CAN and yours said No Trade. Any idea what to do when that happens?

Thanks so much for all your help and efforts, it is very much appreciated.

Angel
About exit or entry strategy, please refer to the original ES strategy. It is the only one we have to look at here. My indicator respect it with the original calculation.

About the NO TRADE you have, guess that you set the level to high. It is the only filter added to the original startegy.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #799
  • Oct 13, 2008 8:23pm Oct 13, 2008 8:23pm
I haven't set the levels at all, they are default.

I think the original strategy called for the candle to close... I can't recall, will need to look, but I found it a bit sketchy. And also that is why I asked if you know of an indicator that says when the next candle will open.

Ever heard of an ATR indicator like I described? I wonder if that would help?
I'm just trying to find ways to make this easier to know when to trade.

I am not sure when to re-enter either...
  • #800
  • Oct 13, 2008 8:45pm Oct 13, 2008 8:45pm
Quoting noangel
I haven't set the levels at all, they are default.

I think the original strategy called for the candle to close... I can't recall, will need to look, but I found it a bit sketchy. And also that is why I asked if you know of an indicator that says when the next candle will open.

Ever heard of an ATR indicator like I described? I wonder if that would help?
I'm just trying to find ways to make this easier to know when to trade.

I am not sure when to re-enter either...
Yes default is Level 5. It is high filter. Try to set it to 0 or 1 and you will see the difference.

When to re-enter? Why don't you follow the ES strategy? Entry is clear. Keep it simple.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
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