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Trading System Using Relative Strength-Part 2

  • #761
  • Oct 24, 2008 8:24pm Oct 24, 2008 8:24pm
Quoting Paris Hilton
Well my experience last week using v.1.03 and doing the reversal trade until Thursday was about 50% winners. This isn;t too bad considering the market was trending heavily and the reversals work well when it's ranging. From what i see is that once the trade is going against you about -300 pips you might as well cut your losses short right there as it almost never comes back in your favor once it's down this much. That's the way I'd play it, putting a stop loss at -300 pips. Paris
That's why my SL base on 1% of account balance and sometimes less than 1% . However, it is still early to tell the outcome.
  • #762
  • Oct 24, 2008 9:07pm Oct 24, 2008 9:07pm
Quoting FerruFx
I am sure your level is too low. Level set to 0 or 1 will never give you reversal.

Keep in mind that reversal when set to true will give pair to be reversed only when its currencies are below the level. Equal or above the level is normal suggestions.

Hope that makes sense.

FerruFx
Does the reversal work this way...If level set to 4, once it gets to 4 then falls below 4, the reversals are suggested?
  • #763
  • Oct 24, 2008 9:14pm Oct 24, 2008 9:14pm
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting RickW00716
Does the reversal work this way...If level set to 4, once it gets to 4 then falls below 4, the reversals are suggested?
The suggestions are given at the beginning of each candle. So if when the candle open, a pair was "normal" in the previous candle because above or = to level 4, and now below level 4, then yes it will then reversed.

In the "Current" version, suggestions update each tick if needed.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #764
  • Oct 24, 2008 9:41pm Oct 24, 2008 9:41pm
Quoting Paris Hilton
Hi Kang,

Just to know. You're using the multi timeframe v.1.04 indicator. Are your time frames 15 min, 30 min 60 min and 240 min? Thanks, Paris
For the test i use v.1.04 only not MTF...

Thanks.

KG
  • #765
  • Oct 25, 2008 7:10am Oct 25, 2008 7:10am
Quoting harigp
My confidence level has increased with the system

Around 5 Hours I was able to generate +2000 pip from us session

My strategey

TF 240 and TF 1440 and Multi time frame for entry

For Reversal of trade: I have started to use in One Hour chart

SMA 30,50,100

Just after the down trend a new four hour candle opened and there are reversal signals on currency pairs. I cross check whether the one hour or 15 Mintue
Chart candle is showing the tendency to go and touch the SMA 30

If it shows the movement to touch the SMA 30
Then I go for the reversal otherwise the normal trade

My last trade was mostly reversals and gained +800 pip

One more week for demo then I will start my live trade

Hi,

What I understand from this that you do your trend check on D1-H4-H1 agreement on FF's current indicator for a normal basket trade? An uptrend on all three......... You get a BUY on all 3 for Eurusd for instance.......... And you double check this agreement on an H1 chart using SMA's?

A trend reversal only on H1 (D1 and H4 still showing BUY).....Say on FF's current indicator you now get a SELL message for EurUsd..... You than do a reversal basket trade?

Maybe you would be so kind as to show a screenshot / example of your trade entry?

THX and have a nice weekend, John
  • #766
  • Oct 25, 2008 8:06am Oct 25, 2008 8:06am
Dear John

Before starting this thread by ES, I was following the thread of chos therory
as well the Alligator Theorey (called mama Vs baby alligator presented by
24 year old guy)

I was half way to use the same in Live but the time factor was too long
to enter in trade and that too I have to monitor one single currency .

But I picked some intersting SMA 30,50 and 100

You can check the chart that in an uptrend the candles in any time frame
tires to come back to SMA 30 and down trend tries to go back to SMA 30

The terms like Pullback ( uptrend) Reverse(downtrend)

With our present system we all wait for the four hour candle to open to start
the trade and hit the currency with the reletive strength with the help of
CFF diff indi

Then we came with the situation of choppy market/consolidation and reverse
theory came in place.

yesterday the concept of SMA came to my mind and started to use them
with good result for reverse

Candles placed between 30 SMA and 50 SMA is period of consolidation
and better not to enter for trade

The CFF indi also indicates the same

I will be using the sma only for reverse trade

I am attaching the GPY/us$ 15 minutes as well as 1 hour and the 30SMA is
Red colour
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 19 KB
Click to Enlarge Name: gbpjpy one hour.gif Size: 19 KB
  • #767
  • Oct 25, 2008 8:19am Oct 25, 2008 8:19am
  •  FerruFx
  • Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts | Online Now
Quoting matrixebiz
I just asked before, wanting to know from you what amount of change in a currency denotes a Trade_Level change? Like I mean to be at a level 1 did the difference between Bar2 and Bar1 change by 5 points and to be at a Level 3 did the difference need to be by 10 points, etc... ?
Thank you
Sorry I missed this question. I always try to answer each question but the thread grow fast ...

So, take the difference between CCFp value[1] and value[2], then x 1000.

If difference is from 0 to 1, plot the first level
If difference is from 1 to 2, plot the 2nd level
And so on ...

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #768
  • Oct 25, 2008 8:32am Oct 25, 2008 8:32am
I like to stress that I am not coming up with any new system,I am following
the RS system only

My Main Indicator is CFF diff1.04current

I started to use SMA only for additional confirmation for Reverse and only for
reverse.

Another Chart eur/chf 15 minute candles between 50 and 100 sma consolidation
and again confirmed by CFF diff as no trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpjpy one hour.gif Size: 19 KB
Click to Enlarge Name: eurchf.gif Size: 14 KB
  • #769
  • Edited 11:23am Oct 25, 2008 9:33am | Edited 11:23am
Quoting FerruFx
Sorry I missed this question. I always try to answer each question but the thread grow fast ...

So, take the difference between CCFp value[1] and value[2], then x 1000.

If difference is from 0 to 1, plot the first level
If difference is from 1 to 2, plot the 2nd level
And so on ...

FerruFx
Yes, thread grows so fast Thanks.
Ok, so lets say CAD[bar2] is 0.0510 and CAD[bar1] is 0.0497 Diff = 0.0013 X 1000 = 1.3
so since the value is between 1 and 2, this denotes Trade_Level 1 and also weak (-) because currency is going down ( 2>1) correct ?
same if value was between -1 and -2 , like -1.3, Trade_Level 1, right?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #770
  • Oct 25, 2008 9:51am Oct 25, 2008 9:51am
Looking into the 4 hour charts on currency pairs, I think GBP,EU is going to be strong, US/CAD bull run will come to an end EU/AD bull run will start

OPEC is going to restrict the outflow of oil
  • #771
  • Oct 25, 2008 10:10am Oct 25, 2008 10:10am
Hi Thread,

Interesting week. Put on a demo basket based on my previous emails. The basket swung from -1000 pips
to +1000 pips and settled at the friday close at +200 pips.
Isn't that what you want, Paris?

Lenoxer
  • #772
  • Oct 25, 2008 11:01am Oct 25, 2008 11:01am
Quoting matrixebiz
Hey Guys, this will be my last post here as for some reason I'm not really wanted here, I guess my questions are to stupid. So here is my EA based on the original strategy (No reverse and Trade_Level 0)
Use EA with Indicator, you only need to attach it to one chart, best GBPJPY.
I'll respond only if there are problems with the EA

Good luck guys and Happy PIP'n

P.S. Thank you ES Trader for showing your system
Hi matrixebiz,

First of all thanks for this great contribution. I will request you that your future updates also incorporate user input magic numbers, preferably one magic number for the basket ( is it possible?). This will enable using the same account for manual and other EA trades.

I will then proceed to say that you should not be upset by undesired comments and remarks by other members. These disturbing comments are hardly justified but there will always be people doing what they know best and you will simply have to deal/bear them. At times these comments can also lead to some positive developments.

Please continue your contributions to the thread.

Thanks

TF
  • #773
  • Oct 25, 2008 11:25am Oct 25, 2008 11:25am
Quoting TradeForexFx
Hi matrixebiz,

First of all thanks for this great contribution. I will request you that your future updates also incorporate user input magic numbers, preferably one magic number for the basket ( is it possible?). This will enable using the same account for manual and other EA trades.

I will then proceed to say that you should not be upset by undesired comments and remarks by other members. These disturbing comments are hardly justified but there will always be people doing what they know best and you will simply have to deal/bear them. At times these comments can also lead to some positive developments.

Please continue your contributions to the thread.

Thanks

TF
Thanks for that and I'll add MagicNumber and Trade_Level in my next version.
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #774
  • Oct 25, 2008 11:39am Oct 25, 2008 11:39am
Hi " at the best "
As we can see you here in useful thread we are waiting you to show us your style how to Entry the trade and got a lot of pips ??..

As u got from this thread u can give too.
Never sell @ lower upward channel unless breacked and vise versa .
  • #775
  • Oct 25, 2008 12:04pm Oct 25, 2008 12:04pm
Quoting Lenoxer
Hi Thread,

Interesting week. Put on a demo basket based on my previous emails. The basket swung from -1000 pips
to +1000 pips and settled at the friday close at +200 pips.
Isn't that what you want, Paris?

Lenoxer
No, I don't trade the last 4 hr. candle of the week. No, usually when a basket moves to +300 pips profit there's a good chance it won't swing the opposite way by that much but will rather have a winning session. When it starts losing -250 pips or more there's a good chance that'll be a losing session within those 4 hrs. Paris
  • #776
  • Oct 25, 2008 1:25pm Oct 25, 2008 1:25pm
Quoting matrixebiz
Hey Guys, this will be my last post here as for some reason I'm not really wanted here, I guess my questions are to stupid. So here is my EA based on the original strategy (No reverse and Trade_Level 0)
Use EA with Indicator, you only need to attach it to one chart, best GBPJPY.
I'll respond only if there are problems with the EA

Good luck guys and Happy PIP'n

P.S. Thank you ES Trader for showing your system
Hi Matrixbiz,
I just now sent you PM. Please read.

YOu are a good contributor. Please do not stop visiting.Every ones input is needed if we all want to succeed. Life is too short to get upset from any comments made by some one whom you have never seen or even talked to.

For god,s sake, This is an internet and I have no idea why any one takes things too serious.

And believe me, this system is real good and I know. I have been trading this with 80-85% return on Money.
Thanks again for every ones help.
I welcome every ones IDEA ( even if it is Crazy)and help.
Thanks.
Kris
  • #777
  • Oct 25, 2008 1:32pm Oct 25, 2008 1:32pm
Quoting WedWed
Hi \" at the best \"
As we can see you here in useful thread we are waiting you to show us your style how to Entry the trade and got a lot of pips ??..

As u got from this thread u can give too.

I send you PM .
Never sell @ lower upward channel unless breacked and vise versa .
  • #778
  • Oct 25, 2008 1:32pm Oct 25, 2008 1:32pm
ES trader
is there any indicator you know or any one here could show you the 4H trend on the same chart for lower TF so at least you can glance where the higher trend is going in the same time you are watching the lower trend.
  • #779
  • Oct 25, 2008 3:18pm Oct 25, 2008 3:18pm
Quoting deadsoul
ES trader
is there any indicator you know or any one here could show you the 4H trend on the same chart for lower TF so at least you can glance where the higher trend is going in the same time you are watching the lower trend.
You could try CustomCandle indic. you can set any TF up to the daily (1440) you can put lets say the D1 and H4 on 15min chart and it also has TimeShift .
Attached Image (click to enlarge)
Click to Enlarge Name: Ccandles.JPG Size: 98 KB
Attached File(s)
File Type: mq4 CustomCandle6.mq4   9 KB | 592 downloads
  • #780
  • Oct 25, 2008 3:28pm Oct 25, 2008 3:28pm
thanx pipo what am trying to say here is that when you have the signal ether buy or sell you can confirm the lower TF with the higher TF on the same chart so you can filter th signals mor quiqly..
thanx again.
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