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Trading System Using Relative Strength-Part 2

  • #61
  • Oct 17, 2008 12:52am Oct 17, 2008 12:52am
What u guys think about gold today? Many thanks If chart is given...
  • #62
  • Oct 17, 2008 12:55am Oct 17, 2008 12:55am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting Msattar
What u guys think about gold today? Many thanks If chart is given...
Off topic. Our system can't be applied on Gold.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #63
  • Oct 17, 2008 12:59am Oct 17, 2008 12:59am
AUD , NZD , CAD are quite related to gold. They are consider commodity currency. Anyway, out of topic.
  • #64
  • Oct 17, 2008 1:18am Oct 17, 2008 1:18am
gentlemen,

your help is highly appreciated,

how can i setup my chart so that i can see the 4 CCfp


Would appreciate it if some one provide me with the correct Indicators ( CCfp)

Thanks a lot
  • #65
  • Oct 17, 2008 2:42am Oct 17, 2008 2:42am
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
Thanks FeruFX for your kindness ....
  • #66
  • Oct 17, 2008 2:46am Oct 17, 2008 2:46am
Quoting cjd
At 00:00 time today all 4 Time Frames matched for nzd/jpy, aud/jpy and aud/chf producing over 300 pips. When 4 TFs agree it works great.

cjd can u elaborate which 4TF's you're referring to.


......oops found the answer, I really should read all the posts in order
  • #67
  • Oct 17, 2008 2:58am Oct 17, 2008 2:58am
I am hapy that the thred part 2 has to come to life because there is lot
of potential n the method

For the last two days I have brought two more indicators from the CCF
family and has given good result along with CCF Diif indicator

I will try to explain the new indicator as it progress

Has made +200 pip alng with thenew indicator and also I will share my
observation

I want this thread to go in great hights and figure out I best we can be in the ranging market also
  • #68
  • Oct 17, 2008 3:06am Oct 17, 2008 3:06am
Screen shot of the latest trade
Attached Image (click to enlarge)
Click to Enlarge Name: gbpuss.gif Size: 22 KB
  • #69
  • Oct 17, 2008 3:12am Oct 17, 2008 3:12am
Here's another suggestion that used to work great for the Ozfx system, the system had a 100 pip SL but if you were out about -60 pips there was very little chance of your trade turning around so at this point if you exited the trade and went the opposite way there was a high probability you'd make a profit or at the very least make up for your loss and breakeven.

The problem of using a fixed SL with this system is that its very hard to come up with a common fixed pip stop value, there are so many currency pairs and some are more volatile than others, oftentimes I've noticed you're out by more than 60-70 pips a certain pair and then it turns around and goes your way. If you use a fixed SL I think you should select your pairs judiciously.

Another alternative would perhaps be to use a fixed time stop, say two hours after the 4hr candle. ...... if after two hours the trade hasn't gone your way get out and reverse irrespective of the number of pips you've lost. This is based on the assumption that when trading the 4h time frame the trade hasn't gone your way for the first two hours its unlikely to do so for the next two hours so it might be a good idea to reverse.

Any thoughts on this?
  • #70
  • Edited 5:00am Oct 17, 2008 4:09am | Edited 5:00am
Quoting goldcourse
qz10cq,

Thank you for your strategy. I will have a try.

BTW, what is the account & lot size you use for your trades?
I'm using 3000 and .1, .15, .23 for lots. I just closed my 1 hr trades manually this morning (est) with a -75 because my daily trades (4) closed with a +200 for a net of +125. You guys looking at MTF should open this signal bars indicators which in parameters can be toggled to give info back to monthly.

Here's a couple more indicators from the Steinz thread (year ago) which was all about MTF that will go back to monthly also. Maybe these along with FF's can be used.
Attached File(s)
File Type: ex4 #Signal_Bars_v6.ex4   54 KB | 837 downloads
File Type: mq4 4 TF HAS Bar.mq4   10 KB | 913 downloads
File Type: mq4 4 TF HAS Bar2.mq4   10 KB | 960 downloads
  • #71
  • Oct 17, 2008 4:49am Oct 17, 2008 4:49am
Signing up---if you'll have me. I feel a bit like Cassandra.

Lenoxer
  • #72
  • Oct 17, 2008 5:05am Oct 17, 2008 5:05am
Quoting qz10cq
Here's whats been working for me. I attach FF's latest indicator to 1 hr with trade level 2. I then attach Xaron's seq 1.2 EA which is a semi-martingale (believe me I know martingale's do not work) accord to the direction of FF's indicater.

My first trade is in the direction of FF's indicator, if it goes against me and I'm -40 pips (you can set your own reverse point) the ea opens a trade going the other way and if that reverse again the ea opens one more trade going in the orginal direction.

I have it set to 3 trades only and then your out of that trade. My stop is set to -40 and my tp is set to +1000. I then attach and equitytakeprofit ea set to 50 per trade which means if FF's 1 hr indicator gives me 4 trades then I set it to +200, if I take 3 of his trades then it's set to +150.

The EA never reaches it's take profit but if the basket (let's say 4 trades) reaches +200 in equity then all trades are closed. If you open Xaron's ea you will be amazed at what you can do with it, from breakouts to timed entry and more, he has his sequence set for 24 reverses before you would lose a ton of pips.

You have to zero out all those reverses in parameters or figure out how many reverses fits your style. I usually use a 7 long sequence of .1, .15, .23, .34, .51, .77, 1.15....these #'s are set uo for 1 to 2 sl/tp, meaning if you have a 40 stop and reverse then you have an 80 tp. Xaron's is pre set to 10 reverse and 40 tp and 24 sequences long. I'm up around 2400 since Sunday night with several losses. Enough from me, if there's interest I will continue. Her's some good attachments.
Hello all,

This is my first post in this forum. I am a 62 year old trader... trading stocks and options for about 15 years untill 2004 and switched completely to forex in 2005......

I have been awaiting admittance for a couple of days and noticed today that I may go ahead.

Having followed this thread and the previous one right from the beginning..... I'm glad to see that there still is enough enthusiasm here to continue and finetune.

I agree with FerruFX that this is what has to be done. Somewhere this weekend ...... when trading has stopped..... I'll contribute my view on entry and exit for this system.... for actually you can do this trick (only?)much safer when right at the beginning of a starting trend......

We have seen enough evidence that in a choppy or sideways market losses are cumulative and huge.... which even made some people believe that reversing sells and buys would be the solution......

qz10cq.......In the meantime I'd love to have a glance at your ways trading this system...... Would you be so kind providing us a screenshot and template and the other stuff that is needed to set it all up the right way?

THX. John
  • #73
  • Oct 17, 2008 5:22am Oct 17, 2008 5:22am
Quoting John Edwards
Having followed this thread and the previous one right from the beginning..... I'm glad to see that there still is enough enthusiasm here to continue and finetune.

I agree with FerruFX that this is what has to be done. Somewhere this weekend ...... when trading has stopped..... I'll contribute my view on entry and exit for this system.... for actually you can do this trick (only?)much safer when right at the beginning of a starting trend......
Brilliant John. We will value your insight and experience.

  • #74
  • Oct 17, 2008 6:04am Oct 17, 2008 6:04am
Quoting John Edwards
Hello all,

This is my first post in this forum. I am a 62 year old trader... trading stocks and options for about 15 years untill 2004 and switched completely to forex in 2005......

qz10cq.......In the meantime I'd love to have a glance at your ways trading this system...... Would you be so kind providing us a screenshot and template and the other stuff that is needed to set it all up the right way?

THX. John
Hi John, I'm a senior citizen myself (61). Never figured out how to attach screen shots but would walk you thru any questions you have. The heart of this system is seq.1.2 ea and the equitytakeprofit ea which I've been playing with for the last 6 months trying to get the right system, FF's indicator along with trenchaser psar has been a good trigger for me lately but lets see what happens in a month. I will continue to update everyone here but there dosen't seem to be much interest so lets not clog up this thread. Just pm me and I'll answer anything I can.


I just pm'd Xaron, Trenchaser and Ronald Raygun about this thread. These are some key people and along with FerruFx the talent would be here. There are a ton of great minds here already.
  • #75
  • Oct 17, 2008 6:47am Oct 17, 2008 6:47am
This kind of sums up what FF's indicators are doinf for us. This is from http://www.forexfactory.com/showthread.php?t=109599


The easiest way to see the composition of a cross currency is to observe the underlying currencies. If you opened three charts side by side on your screen, say the GBPUSD, USDCHF and the cross GBPCHF, and made them bold, large candlesticks on the 1 MINUTE chart, you can observe the tick by tick nature of the moves. The cross currency pair is nothing except the relationship of the strength between the underlying two pairs. Basically, the cross is nothing more than an algorithm of the relationship between the underlying pairs. The cross does not move on it's own accord, as in a standard supply and demand relationship (like contracts in the Futures markets traded on an exchange). Rather it moves in a dance in step with the underlying currencies.

There are 9 possibilities of correlation (in the Strength-Weakness relationship), but before I list them, I must state that an understanding of the BASE currency (the FIRST pair listed in a currency combination) and the DIRECTION of the candles is an absolute MUST to understand strength and weakness. Strength is occurring in the BASE currency and is demonstrated by a candle moving UP. The opposite is true, as well, going down. This can cause some confusion when one sees the USD getting stronger against one currency and at the same time get weaker against the other (this is what happens when the GBPUSD moves more than say, the USDCHF. When the USD gets equally stronger against both the GBP and the CHF at the same time, the GBPCHF stays FLAT. It can be a bit confusing to fully grasp this when trading strength and weakness, but like anything, practice sharpens the skill. Taking 30 full minutes of fully observing this at a busy time in the market, will make the relationship with the cross clear. I's a good exercise for newer cross traders.

Example: GBPUSD candles moving up STRONG and USDCHF candles moving UP STRONG = GBPCHF moving up STRONG (Actually this means that the USD is getting weak against the GBP and at the same time the USD is getting strong against the CHF) Interpret: Candles on BOTH GBPUSD and USDCHF are moving up together strong = STRONG move up on GBPCHF (but, at almost 1.7:1 ratio!! GBPJPY doing this is almost a 2:1 ratio!)

The 9 Strength-Weakness Correlation positions:

1. GBP/USD Up and USD/CHF Up - Cross will move UP STRONG (Primary trade objective moves)
2. GBP/USD Down and USD/CHF Down - Cross will move DOWN STRONG (Primary trade objective moves)
3. GBP/USD Up and USD/CHF Down equally - Cross will REMAIN FLAT (Don’t trade these moves)
4. GBP/USD Down and USD/CHF Up equally - Cross will REMAIN FLAT (Don’t trade these moves)
5. GBP/USD Up and USD/CHF FLAT - Cross will move UP MODERATELY (Can bring decent profits)
6. GBP/USD FLAT and USD/CHF Up - Cross will move UP MODERATELY (Can bring decent profits)
7. GBP/USD Down and USD/CHF FLAT - Cross will move DOWN MODERATELY (Can bring decent profits)
8. GBP/USD FLAT and USD/CHF Down - Cross will move DOWN MODERATELY (Can bring decent profits)
9. GBP/USD FLAT and USD/CHF FLAT - Cross will remain FLAT (Market is undecided – leave alone)

Correlation trading like this is actually a type of Triangular Arbitrage, where we are exploiting the ineffieciencies of the market (completely legal and respectable) and knowing these 9 possibilities brings about a greater awareness of looking at two currencies and getting enough valid information to trade a third / cross currency.

Most people think that the crosses move on their own accord, with separate support and resistance, etc. like the underlying currencies. The crosses hit S and R when the underlying currencies do, not on their own! But it truly looks like the crosses are moving on their own accord a chart! This is the biggest understanding about crosses. If you sell this info, give me a nickle, OK?

I hope this articulates a few points of your discussion in this thread.

Keep your powder dry, Cheers!

pipsqueak4x
  • #76
  • Oct 17, 2008 7:16am Oct 17, 2008 7:16am
Quoting FerruFx
Yes generally it takes few seconds but max very few minutes to update all pairs involved in the calculation. When all pairs have received their own first fresh tick for the new bar, the show will start!

FerruFx
Hi FerruFX - can you do me up a version of your indy that does what the CCfp indy does and put the values of currency changings in the Data Window? Having trouble with the original indy being used with an EA, so if you could output the values from your indy to the Data Window then I'll try again.

Thank you
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #77
  • Oct 17, 2008 7:19am Oct 17, 2008 7:19am
Quoting John Edwards
Hello all...................

THX. John
Hello John, welcome to FF an to this Thread.
  • #78
  • Oct 17, 2008 7:19am Oct 17, 2008 7:19am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting matrixebiz
Hi FerruFX - can you do me up a version of your indy that does what the CCfp indy does and put the values of currency changings in the Data Window? Having trouble with the original indy being used with an EA, so if you could output the values from your indy to the Data Window then I'll try again.

Thank you
Sorry I don't understand your request.

If you want make an EA, the simpliest way is to use the original CCFp. My indicator doesn't have any buffer.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #79
  • Oct 17, 2008 7:24am Oct 17, 2008 7:24am
Quoting FerruFx
Sorry I don't understand your request.

If you want make an EA, the simpliest way is to use the original CCFp. My indicator doesn't have any buffer.

FerruFx
Oh, ok. The original indicator isn't compatible with IBFXm and the other ones posted gives errors CCFp_v1.0.2b GBPJPYm,H4: unknown subwindow number -1 for ObjectCreate function

24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #80
  • Oct 17, 2008 7:53am Oct 17, 2008 7:53am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting matrixebiz
Oh, ok. The original indicator isn't compatible with IBFXm and the other ones posted gives errors CCFp_v1.0.2b GBPJPYm,H4: unknown subwindow number -1 for ObjectCreate function
If you can code an EA, you are able to mod the CCFp for IBFX. Right?

OK here's attached my personal IBFXm compatible version.

FerruFx
Attached File(s)
File Type: mq4 CCFp.mq4   17 KB | 1,578 downloads
MT4/MT5 EAs/Indicators/Alerts coder
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