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Trading system using relative strength

  • #1,181
  • Oct 15, 2008 4:45pm Oct 15, 2008 4:45pm
I've been trying various MTF approaches. This is the best basket yet using Week, Day and H4. I visually look briefly at indicator for each pair looking for divergence, trading with the prevailing trend. I'm considering exiting eah pair individually perhaps using convergence on H. Also considering taking two positions on each pair, scaling out of trades.
  • #1,182
  • Oct 15, 2008 4:46pm Oct 15, 2008 4:46pm
5pm est candle seems to be the easiest for me on fxdd lol
  • #1,183
  • Oct 15, 2008 4:46pm Oct 15, 2008 4:46pm
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  • #1,184
  • Oct 15, 2008 5:07pm Oct 15, 2008 5:07pm
Chazbo, so you're only taking trades if they are in the same direction on each TF?

Quoting chazbo 3071
I've been trying various MTF approaches. This is the best basket yet using Week, Day and H4. I visually look briefly at indicator for each pair looking for divergence, trading with the prevailing trend. I'm considering exiting eah pair individually perhaps using convergence on H. Also considering taking two positions on each pair, scaling out of trades.
  • #1,185
  • Oct 15, 2008 5:25pm Oct 15, 2008 5:25pm
Quoting BenQ
Chazbo, so you're only taking trades if they are in the same direction on each TF?
Ben

I believe all trades taken in this basket had agreement on all three time frames, however in most market conditions, trading in agreement with the higher time frame I think would result in higher probability trades.

Trading in the opposite direction of the higher time frame would be a retracement which you might trade for only one or two candles after the divergence/convergence signal. Maybe best to trade retracement only when a overbought/oversold condition exists.
  • #1,186
  • Oct 15, 2008 5:28pm Oct 15, 2008 5:28pm
Quoting Pippopotamus
I respectfully suggest that the levels of volatility over the past few weeks,absolutely historic VIX readings, record one day losses/gains, global involvement, etc., have skewed the results of each and every method being tested/monitored, or whatever. I don't think it is a good idea to draw any conclusions about a method's viability based on it's performance during this period. The data is contaminated.
I agree and I think all here realize this also...However, I still feel this will work when the markets get back to "normal"...Entries, exits and more careful money management will have to be more precise.

I am also seeing on other forums claims of huge profits from other systems due to the same volatility you speak of.
  • #1,187
  • Oct 15, 2008 5:36pm Oct 15, 2008 5:36pm
Quoting paradoxical
Using IBFX, my candle time is different, and the last two four hour candles have been bad. But, starting somewhat of a recovery in the past several minutes. A question for you, or anybody. I love having the indicator showing which currency is strong and weak, and which ones to long or short at a glance. What do you think about using the four hour chart alongside a one hour chart, 30 minute chart and 5 minute chart to visulaize the trend, and going for 10 or 20 pips?
I think multi timeframe is the way to go...especially when the current volatility calms down.
You must keep in mind that the readings on a small timeframe like 5 or 15 minute may not be accurate right away because I believe(according to ferrufx)that the proper buy/sells won't be displayed until each currency in the calculation updates.

Ferrufx: Please correct me if I misunderstood you.
  • #1,188
  • Oct 15, 2008 5:36pm Oct 15, 2008 5:36pm
Yes, I understand higher TF confluence. I'm asking if those are the only kind of trades you take with this indi.

Quoting chazbo 3071
Ben

I believe all trades taken in this basket had agreement on all three time frames, however in most market conditions, trading in agreement with the higher time frame I think would result in higher probability trades.

Trading in the opposite direction of the higher time frame would be a retracement which you might trade for only one or two candles after the divergence/convergence signal. Maybe best to trade retracement only when a overbought/oversold condition exists.
  • #1,189
  • Oct 15, 2008 5:43pm Oct 15, 2008 5:43pm
Quoting sentinel777
i also took the trade, but with level 2:
i also set TP on each pair. TP is a support line from the H4 chart

i let it run overnight and hope they will be hit, if so that will be about 1100 pips (could be more with lower trade level)
OH NO!
You used the word "hope". All I've read and learned about trading is to never use that word! LOL
  • #1,190
  • Oct 15, 2008 5:48pm Oct 15, 2008 5:48pm
Ben

I use the 18 EMA (red line)and 34 EMA (green line)to determine trend direction. If price has closed below both EMAs, it is in a downtrend. I always trade in the direction of the higher time frame. I am simply using the CCFp indicator to tell me when to enter the trade on the lowest time frame. I look at the CCFp on the higher time frames, however, the trend direction is determined by where price is in relation to the EMAs.
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  • #1,191
  • Oct 15, 2008 6:37pm Oct 15, 2008 6:37pm
Quoting RickW00716
I think multi timeframe is the way to go...especially when the current volatility calms down.
You must keep in mind that the readings on a small timeframe like 5 or 15 minute may not be accurate right away because I believe(according to ferrufx)that the proper buy/sells won't be displayed until each currency in the calculation updates.

Ferrufx: Please correct me if I misunderstood you.
Yes. Before make a decision we have to wait that ALL pairs involved in the calculation received their 1st refreshing tick (new bar open).

I am sure that the 15mins delay from the ES strategy (also used in the RR EA) is for this reason.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #1,192
  • Oct 15, 2008 6:47pm Oct 15, 2008 6:47pm
I gather a 5 minute chart with the CC indicator is not accurate at all, then? and, a 30 minute chart would be 15 minutes behind the times, so to speak?
Quoting FerruFx
Yes. Before make a decision we have to wait that ALL pairs involved in the calculation received their 1st refreshing tick (new bar open).

I am sure that the 15mins delay from the ES strategy (also used in the RR EA) is for this reason.

FerruFx
  • #1,193
  • Oct 15, 2008 6:51pm Oct 15, 2008 6:51pm
FerruFx, if I want to make the time frame on your CCFv1.03 indicator for one day, what entry would I put in the "time frame"? Would it be 1440? What would it be for a week? Thanks. Your indicator(s) are amazing!
  • #1,194
  • Oct 15, 2008 7:11pm Oct 15, 2008 7:11pm
Quoting paradoxical
FerruFx, if I want to make the time frame on your CCFv1.03 indicator for one day, what entry would I put in the "time frame"? Would it be 1440? What would it be for a week? Thanks. Your indicator(s) are amazing!
60 = H1
240 =H4
1440 = D1 TF


Sonic
  • #1,195
  • Oct 15, 2008 7:14pm Oct 15, 2008 7:14pm
Quoting BenQ
Now that we have the new indi with offsets, I've been playing with Pipo's idea of looking at strength in lower TF's to better time the entry.

There's almost too much info to look at this quickly and make a decision.

Pipo, are you still looking at this idea?
Yes I do, my trade levels are set to 2 and the current setup see att.. There are hardly any trades coming through on TF's lower the M30 but I look at the hist. color of the M15 and lower TF. I have a second window setup Identcally as the att. pic but with different settings for the MA's fast2 slow7 . I compare signals from setup 2 with the chart and also from setup 1. This are only tests and I don't wan't to bring confusion to this thread. If I find something which I think can imrove entries or exits I will post it.
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  • #1,196
  • Oct 15, 2008 7:23pm Oct 15, 2008 7:23pm
Quoting tommyd
Ronald, just placed your EA on a Standard IBfx account & all is well.

Thanks for your great work and patience with all the repetitive questions.

Gosh I know it must be such a pain in the rear to try to help solve so many other people's problems. Try not to let it get to you, I guess it is one of the downsides when you are as gifted a person as yourself.
Someday you will decide it ain't worth the hassle answering all these questions and that day will be this communities loss.
Thanks for all your hard work.

Tom
Ditto
  • #1,197
  • Oct 15, 2008 7:28pm Oct 15, 2008 7:28pm
Quoting paradoxical
Have 11 trades going from the last 4 hour candle (5:00 AM Pacific standard time), and down well over 1300 pips. I have the EA called CloseTrades After Too Much Account loss attached and working, and set at minus -750.0. I thought this meant pips, but it must mean dollars, as it did not trade me out. Only using .2 lots on my demo, and down $275.00. Can someone confirm that this EA is in dollars, and not in pips? Thanks.
More testing to do on this system as far as stops and take profit.
It's in dollars, and if you alter the trade in any way it starts again from that point. It also tells you ur trade information in the top left corner, attach it to it's own seperate chart.
  • #1,198
  • Oct 15, 2008 7:29pm Oct 15, 2008 7:29pm
Quoting paradoxical
FerruFx, if I want to make the time frame on your CCFv1.03 indicator for one day, what entry would I put in the "time frame"? Would it be 1440? What would it be for a week? Thanks. Your indicator(s) are amazing!
1440 X 7
  • #1,199
  • Oct 15, 2008 7:30pm Oct 15, 2008 7:30pm
Quoting FerruFx
Yes. Before make a decision we have to wait that ALL pairs involved in the calculation received their 1st refreshing tick (new bar open).

I am sure that the 15mins delay from the ES strategy (also used in the RR EA) is for this reason.

FerruFx
Do you think your indicator on a 15 min chart would give an accurate reading of strength for this timeframe?
Or do you think maybe that 30 min. would be the minimum timeframe to use?
  • #1,200
  • Oct 15, 2008 7:43pm Oct 15, 2008 7:43pm
Can someone post the signal ALERTS every 4hrs for their platforms:
IBFX
FXDD
ALPARI
etc...

This way we can compare results and make sure we are all on the same page!
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