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Trading System Using Relative Strength-Part 2

  • #561
  • Oct 22, 2008 10:10am Oct 22, 2008 10:10am
FerruFx, Thanks for the MTF it will make things a lot easier but it looks like it doesn't give the right trade recommendation on the current situation. Is it giving us a static 2 last closed bar calculation?see att.
Attached Image
  • #562
  • Oct 22, 2008 10:11am Oct 22, 2008 10:11am
Quite an interesting thread. I personally use multipair ROC to calculate pair moves relative to all other pairs and then use charts (pa, trendlines, s/r levels) to enter trades and set sl's (I'm a swing/trend trader).

I have tried many ways to measure currency strength and ROC is what I'm personally have noticed to be one of the best ways. Below is a pic that I sent to EURUSD thread that shows how my currency relative strength screen looks like. The line tells ROC (relative change in %) of 20 days compared to all other currencies.
Attached Image (click to enlarge)
Click to Enlarge Name: multiroc.gif Size: 32 KB
  • #563
  • Oct 22, 2008 10:19am Oct 22, 2008 10:19am
Quoting ladecker
1) THANK YOU

2) To only look for 3 TF in agreement or 2 TF in agreement, would they be listed in ascending order? Which is to ask, the same ascending T F (in your indicator) starting with 5M, then 15M (for2) and 30M (for3)? Why?
I am thinking of using for MO,Wk, and Day. That would be the 3 in agreement. Also, Day and 4 Hr in agreement. That would be the 2 in agreement.

3) If 2) = True, Then may I attach Two (2) MTF versions or Three (3) to the same Chart? Why?
This would allow, at a glance, be all time frames in agreement. Since Higher TF Rule. What I'm seeking to find is the 1st TF in decending order that does not agree. That's the pullback or dip. That's where the alarm goes. When it goes, That time frame turned to the trend. So,

If Mo., Day, and Year (3 =) are all equal its a trend. If they are not equal , its consolidation. Then, trade off the 4 Hr as the highest TF (caveat noted below) as it dictates the trend within the consolidation. (Apply the John Edward's Trading system in this TF and max out ea. trade or flip your basket quickly as has been the method)

If Mo, Wk, Day are not= , I want to know if Day = 4HR (2=), Then I can trade off the 4Hr as my trend, and enter on the 1st lower TF that is not in agreement with the 4 Hr. Example, John Edward's post on Oct. 21, 2008, where he entered on the 1 hr chart.
In the inputs parameters, you can set any TF (up to 4) and in any order you want. Example:

5-30-60-1440
30-5-1-240
240-10080-5-60
and so on ... it's up to you.

No matter the order, the calculation will check all these TFs and give a suggestion ONLY if ALL the selected TFs give the same signal.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #564
  • Oct 22, 2008 10:22am Oct 22, 2008 10:22am
Around -300 down
FF 1.04b
Level 1
Fast and slow default
Reverse on
FXDD
CLEVELAND OH TIME

I did open 40 min late but 1:42 to go
In my experience things turn around fast

What are some of you using as S/L and T/P or T/S
For me when it is getting close to the end of a session
I manually close them out I’ve let some of the loser run
And some have turned around.

If I’m going to be away from the computer I modify the play
30 T/P 100 S/L

I also will place T/S of 15 for plays that are in the 40+ range
  • #565
  • Oct 22, 2008 10:22am Oct 22, 2008 10:22am
Quoting Pipo
FerruFx, Thanks for the MTF it will make things a lot easier but it looks like it doesn't give the right trade recommendation on the current situation. Is it giving us a static 2 last closed bar calculation?see att.
Please don't refer to the Current histo as the MTF isn't Current.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #566
  • Oct 22, 2008 10:27am Oct 22, 2008 10:27am
@ FerruFx – Great work on the Indicator I had a questions if you think it would be possible. I think the time at which we enter the market has an effect on the outcome so was wondering if you can have an option for changing when the indicator Start Hour of the 4hr bar starts. Like if you see by the pic below from FXopen is GMT + 3 and have won all trades so far using that brokers 4hr bar but seeing that for example IBFX is on GMT time the 4hr calculation will be different for the indicator. If some how having a 4hr Shift setting might be valuable. So even if I’m using IBFX I can have it calculate every 4 hours starting at a different 4hr start than the bar it is showing for different brokers. Hope this makes sense Thank you
Attached Image (click to enlarge)
Click to Enlarge Name: FXopen.JPG Size: 243 KB
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #567
  • Oct 22, 2008 10:29am Oct 22, 2008 10:29am
Would you show us how to enable expert advisor?

Quoting LuboLabo
U have to enable the EA function.
On the high bar click on the button expert advisors.

Lubo
  • #568
  • Oct 22, 2008 10:31am Oct 22, 2008 10:31am
still 2 and a half to go to end of bar but allready locked 410$ trading 0.1 lots
using v1.04 tradelevel 2 and reverse suggestion set to true and using profitlock EA just like ES trader is doing it
clean and simple
Attached Image (click to enlarge)
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  • #569
  • Oct 22, 2008 10:42am Oct 22, 2008 10:42am
Quoting matrixebiz
@ FerruFx – Great work on the Indicator I had a questions if you think it would be possible. I think the time at which we enter the market has an effect on the outcome so was wondering if you can have an option for changing when the indicator Start Hour of the 4hr bar starts. Like if you see by the pic below from FXopen is GMT + 3 and have won all trades so far using that brokers 4hr bar but seeing that for example IBFX is on GMT time the 4hr calculation will be different for the indicator. If some how having a 4hr Shift setting might be valuable. So even if I’m using IBFX I can have it calculate every 4 hours starting at a different 4hr start than the bar it is showing for different brokers. Hope this makes sense Thank you
I understand your concern but I don't plan to code this.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #570
  • Oct 22, 2008 11:33am Oct 22, 2008 11:33am
i think actually that should be of slight concern still. i was talking with nub about this. i've been meaning to see what the difference in taking trades based on brokers wtih different timezones. i feel like i'm still getting wildly different results on fxdd then estraders alpari. i mean i'm still getting it to work but
  • #571
  • Oct 22, 2008 11:47am Oct 22, 2008 11:47am
Quoting RaverStyleTim2
i think actually that should be of slight concern still. i was talking with nub about this. i've been meaning to see what the difference in taking trades based on brokers wtih different timezones. i feel like i'm still getting wildly different results on fxdd then estraders alpari. i mean i'm still getting it to work but
Well not really a big concern because what you could do if you wanted is have both broker platforms open (1 - the broker thats timezone works best for you with the system on Demo then 2 - your live trade account broker) Then when the Demo broker account that works best signals then place the signaled trades on the Live account broker
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #572
  • Oct 22, 2008 12:20pm Oct 22, 2008 12:20pm
I notice some of you guys are using my AccountProtect EA. I think a lot of you are using the old one. There is a newer version [2] of the EA and you have to option to enter your stop loss and take profit. You can get it here:

http://www.forexfactory.com/showpost...postcount=2086
Thanks
Trader101
  • #573
  • Oct 22, 2008 12:25pm Oct 22, 2008 12:25pm
Quoting FerruFx
Here we go!

Attached the CCFp-Diff_[v1.04-MTF]

1. Exact same calculation

2. Possibility to use up to 4 TFs (and/or)

3. Trade_Level still there

4. No reverse suggested

5. The refreshing check up is based on the smallest TF selected

6. Possibility to set the TF for the Timer and Timer_Alert

7. No histogram table drawn

So basically, the pairs suggested are the one with the same suggestions on all your selected TFs (with the same level).

Wish you a lot of pips.

FerruFx


Hi FF, i have been trying to attach this indicator to my charts at interbankfx and Alpari, but nothing happens, do i need anything other than the indicator itself for it to work?
  • #574
  • Edited 2:15pm Oct 22, 2008 1:02pm | Edited 2:15pm
Here is the screen shot of my trades as of 12:58, so one hour into the 12:00 CST bar. I'm trading on a FXDD demo account using CCFp-Diff_[v1.04] with the fast changed to 1 and slow to 2 at level 1.

Update: I closed out +$220, going to demo again at 4:00 with the indicator.
Attached Image (click to enlarge)
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  • #575
  • Oct 22, 2008 1:14pm Oct 22, 2008 1:14pm
Quoting Paris Hilton
These are all reversed trades on v.1.03. I'm testing this indicator this week and will test v.1.104 next week if everyone is having good results so far. Up about +240 pips so far. So far I've only had one losing session so far with the reversal strategy. Paris

Hi Paris

Could you please tell what level setup you are using such as level 1/2/4 etc.
and which broker you are trading with.

The reason I am asking ont consistent winning trade as you. pehaphs my setting bit different and borker as well.

Thanks
Syed.
  • #576
  • Oct 22, 2008 1:16pm Oct 22, 2008 1:16pm
I've been taking selective trades based on V103 with pretty variable success, even trying to match some up to the 1H and 30M to improve probability.

So I've decided to do a Paris, as I can understand the logic behind that method. Plus I saw the video and she impressed me there.

All pairs available to me on alpari demo have been reversed. Shortly after open, its -63 inc. the spread. Lets see where it goes .....

PQ
Attached Image (click to enlarge)
Click to Enlarge Name: paris.gif Size: 68 KB
  • #577
  • Oct 22, 2008 1:18pm Oct 22, 2008 1:18pm
Quoting FFCanada
Hi Paris

Could you please tell what level setup you are using such as level 1/2/4 etc.
and which broker you are trading with.

The reason I am asking ont consistent winning trade as you. pehaphs my setting bit different and borker as well.

Thanks
Syed.
Syed, look closely at her screenshot, its FXDD and Level 0. I've also changed my level to 0 on the 4H to conduct a similar test.
  • #578
  • Oct 22, 2008 1:42pm Oct 22, 2008 1:42pm
I searched the thread and I don't see a video by Paris...Unless I'm completely missing something...
  • #579
  • Edited 2:38pm Oct 22, 2008 1:53pm | Edited 2:38pm
Quoting Ronald Raygun
I searched the thread and I don't see a video by Paris...Unless I'm completely missing something...
I think he meant the real Paris H. Musical Video:

Inserted Video


LOL
3rd World Trading
  • #580
  • Oct 22, 2008 2:03pm Oct 22, 2008 2:03pm
Quoting Ronald Raygun
I searched the thread and I don't see a video by Paris...Unless I'm completely missing something...

Ronald, I could probably attach it here. Then get banned.

Available from all good P2P download sites .... its worth a viewing
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