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Trading System Using Relative Strength-Part 2

  • #21
  • Oct 16, 2008 6:43pm Oct 16, 2008 6:43pm
I am having good success when 15,30,1hour,and 4 hour time frames are all in agreement. I also try to keep a minumum 4 level also.
  • #22
  • Oct 16, 2008 6:47pm Oct 16, 2008 6:47pm
Dear FerruFx,

I love your indicators.. it's help a lot. And could you add more bar that show current level conditions ([0] compare [1] and not [1] compare [2]). So we will have two bars and all trade suggestion will execute when both bar level give us the same conditions... if not we need to wait till current bar level has same direction with previous bar levels..

Thank You,

KG

PS: sorry for my english, hope you understand what i mean...
  • #23
  • Oct 16, 2008 6:51pm Oct 16, 2008 6:51pm
Quoting Kang_Gun
Dear FerruFx,

I love your indicators.. it's help a lot. And could you add more bar that show current level conditions ([0] compare [1] and not [1] compare [2]). So we will have two bars and all trade suggestion will execute when both bar level give us the same conditions... if not we need to wait till current bar level has same direction with previous bar levels..

Thank You,

KG

PS: sorry for my english, hope you understand what i mean...
Not sure to understand all!

Anyway, if we compare the current [0] and the previous [1] (instead of [1] and [2]), the suggestions Buy/Sell provided will repaint each tick as the current CCFp value isn't fixed until the end of the bar.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #24
  • Oct 16, 2008 6:52pm Oct 16, 2008 6:52pm
Quoting j84_2
I have been using 4hr TF to show to main trend and using 15mins TF to do entry. Tp 10 pips with no stop loss.

I only enter once for each currency shown on the 4hr TF. After 4hrs, wait for 15 mins, if the currency on the 15 mins TF flag out same direction as in the 4hr TF, trade with 10 pips TP with no SL. Check it every 15 mins until u have the same direction with the 4 hrs and trade it. Once all the currency on the 4hr has been traded once, stop trading and wait for another 4hr.

So, every 4 hr u will get 10pips * the number of currency shown. How good is that ? I am using ibfx. If this method works now (during range), it will work even better in trending.
Hi J84_2, is tp 10 pips for each currency?
  • #25
  • Oct 16, 2008 6:55pm Oct 16, 2008 6:55pm
Quoting FerruFx
Not sure to understand all!

Anyway, if we compare the current [0] and the previous [1] (instead of [1] and [2]), the suggestions Buy/Sell provided will repaint each tick as the current CCFp value isn't fixed until the end of the bar.

FerruFx
I mean just leave the original as default, we just add one more bar level that show current level conditions only.

Thank You,

KG
  • #26
  • Oct 16, 2008 6:59pm Oct 16, 2008 6:59pm
Quoting Kang_Gun
I mean just leave the original as default, we just add one more bar level that show current level conditions only.

Thank You,

KG
So we will have 2 suggestions ? 1 fixed and one repainting? It will be confusing.

I think that the indicator has to remain based on the original setting. What we must concentrate on is to find the best rules for entry/exit.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #27
  • Oct 16, 2008 7:00pm Oct 16, 2008 7:00pm
Here is a link to a similar trading method.
I think this is where the CCFp indicator came from.
There are also other currency strength indicators posted here, with instructions on how to use them.

http://www.forexfactory.com/showthre...highlight=ccfp
  • #28
  • Oct 16, 2008 7:02pm Oct 16, 2008 7:02pm
Quoting Jack2000
Hi J84_2, is tp 10 pips for each currency?
Yes. Each TP 10 pips and come back after 15 mins if u still have any currency left in 4hrs not traded according to 15 mins TF recommnaded trade. If all is traded one time on the 4hr recommended trades, come back on the next 4hr reset

(Don't trade EURGBP, EURCHF still under observation. EURGBP move very slowly and if it go against u, will have to wait for a very long time.)
  • #29
  • Oct 16, 2008 7:07pm Oct 16, 2008 7:07pm
Quoting j84_2
Yes. Each TP 10 pips and come back after 15 mins if u still have any currency left in 4hrs not traded according to 15 mins TF recommnaded trade. If all is traded one time on the 4hr recommended trades, come back on the next 4hr reset

(Don't trade EURGBP, EURCHF still under observation)

j84_2 are you using the FerruFX indicator to get the H4 pairs?

Thanks
Sandy
  • #30
  • Oct 16, 2008 7:12pm Oct 16, 2008 7:12pm
Quoting nubchai
j84_2 are you using the FerruFX indicator to get the H4 pairs?

Thanks
Sandy
Yes, I am using FerruFX indicator with level 1 setting. Using 4hr and 15 mins TF to trade. After the start of a new 4 hr cycle, wait for 15 mins and look at the 15 mins TF, for all the currency that follow the same direction in 4hr, trade it with 10 pips TP and no SL. For those which u didn't trade, wait for new cycle of 15 mins TF and look for those not traded currency which follow the same direction as the 4hr TF and trade it with 10 pips TP and no SL.

Please note that u only trade each currency pair once. If u have traded it before, don't trade it again. Once u finish all the currency in the 4hr TF. Wait for a new cycle on the 4hr TF and start all over again. Try it and see that even though u are holding some losing position, ur account will be positive.

And don't trade when there is big news coming.
  • #31
  • Oct 16, 2008 7:13pm Oct 16, 2008 7:13pm
Quoting FerruFx
So we will have 2 suggestions ? 1 fixed and one repainting? It will be confusing.

I think that the indicator has to remain based on the original setting. What we must concentrate on is to find the best rules for entry/exit.

FerruFx
No.. the suggestions just 1, your original. But the Bar level we add one more that show current conditions only. It will change everytime (i know), but i will help us to find the best entry time...

here is an example:

I use your indicators.. and i use CCFp indicator too that i change to measure the current level ([i] compare to [i+1])... so, i will entry base on your indicator suggestion when the CCFp (modifications) have same direction with yours.... hope it's make it clear...

(just ignore my OP Sell... )

KG
Attached Image (click to enlarge)
Click to Enlarge Name: ccfp.jpg Size: 104 KB
  • #32
  • Oct 16, 2008 7:26pm Oct 16, 2008 7:26pm
Quoting Kang_Gun
No.. the suggestions just 1, your original. But the Bar level we add one more that show current conditions only. It will change everytime (i know), but i will help us to find the best entry time...

here is an example:

I use your indicators.. and i use CCFp indicator too that i change to measure the current level ([i] compare to [i+1])... so, i will entry base on your indicator suggestion when the CCFp (modifications) have same direction with yours.... hope it's make it clear...

(just ignore my OP Sell... )

KG
Will see what I can do ...

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #33
  • Oct 16, 2008 7:30pm Oct 16, 2008 7:30pm
Quoting nubchai
Thanks for opening a new thread. I'm sorry ES closed the old one too.

I've just started playing with reversing the trade calls. It seems to work but it would be great to understand why it does. This system obviouly has merits and is nice and simple. So understanding when to take the original calls and when to reverse them would make it almost perfect.

Sandy
Luck, thats why.
If you get a signal on the H4 it could be that the currency strength/weakness is reversing in the last hour leading up to the H4 ccfp reading. The result from the previous H4 to the current closed H4 can still be higher giving you a signal to go with the currency strength but a weakening or reversal might be already be noticable on the H1 or lower TF's

So in conclusion the H1 and/or lower should be used to validate the H4 signal.

To give a reversal trade a better chance one has to make sure that the H4 signal strength is not present on the D1 and at the same time increasingly opposite signals to the H4 should be be noticed on the lower TF.

Does that make sense?
  • #34
  • Oct 16, 2008 7:31pm Oct 16, 2008 7:31pm
Quoting j84_2
Yes, I am using FerruFX indicator with level 1 setting. Using 4hr and 15 mins TF to trade. After the start of a new 4 hr cycle, wait for 15 mins and look at the 15 mins TF, for all the currency that follow the same direction in 4hr, trade it with 10 pips TP and no SL. For those which u didn't trade, wait for new cycle of 15 mins TF and look for those not traded currency which follow the same direction as the 4hr TF and trade it with 10 pips TP and no SL.

Please note that u only trade each currency pair once. If u have traded it before, don't trade it again. Once u finish all the currency in the 4hr TF. Wait for a new cycle on the 4hr TF and start all over again. Try it and see that even though u are holding some losing position, ur account will be positive.

And don't trade when there is big news coming.
j6 thank you. I'm going to try this system tomorrow. It sounds very interesting.

Sandy
  • #35
  • Oct 16, 2008 7:35pm Oct 16, 2008 7:35pm
Quoting FerruFx
Will see what I can do ...

FerruFx
Thank you, i really appreciate it.

KG
  • #36
  • Oct 16, 2008 7:47pm Oct 16, 2008 7:47pm
Here it is:

The CCFp-Diff_[v1.03_current] is EXACTLY the same except that it compare the current CCFp values with the previous CCFp values instead of the 2 previous bars.

I removed everything about the trades suggestions.

FerruFx
Attached File(s)
File Type: ex4 CCFp-Diff_[v1.03_current].ex4   85 KB | 2,618 downloads
MT4/MT5 EAs/Indicators/Alerts coder
  • #37
  • Oct 16, 2008 7:54pm Oct 16, 2008 7:54pm
Ferrufx,

Awesome work my friend.

Regards,
Jeff

Quoting FerruFx
Here it is:

The CCFp-Diff_[v1.03_current] is EXACTLY the same except that it compare the current CCFp values with the previous CCFp values instead of the 2 previous bars.

I removed everything about the trades suggestions.

FerruFx
  • #38
  • Oct 16, 2008 7:56pm Oct 16, 2008 7:56pm
Quoting azjeff
Ferrufx,

Awesome work my friend.

Regards,
Jeff
You're welcome!

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #39
  • Oct 16, 2008 8:01pm Oct 16, 2008 8:01pm
Quoting FerruFx
Here it is:

The CCFp-Diff_[v1.03_current] is EXACTLY the same except that it compare the current CCFp values with the previous CCFp values instead of the 2 previous bars.

I removed everything about the trades suggestions.

FerruFx
Very fast... thank you. I will check what we can get with this information... Hope other will do the same too...

KG
  • #40
  • Oct 16, 2008 8:04pm Oct 16, 2008 8:04pm
FerruFx,

A lot of us are exploring MTF signals with your great indi. I posted several days ago in the old thread a pic with your version v1.03 with D, H4, M60, etc down to M30 on the same chart. The problem I mentioned then is that it's difficult to quickly compare all the pairs against the higher TFs.

Is there a way to write your indi so that like a trade level check, it also does a higher TF check -- maybe multiple higher TF checks? So that if we set the indi to M15, trade level X, MTF 60 and/or 240, 1440, etc. it will only show trades that meet all those requirements.

Probably difficult to do, I'm sorry, but on my wish list. Thanks.
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