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Trading System Using Relative Strength-Part 2

  • #781
  • Oct 25, 2008 5:58pm Oct 25, 2008 5:58pm
http://i33.tinypic.com/50iii8.gif

Something about all this relative strength has been bothering me. I was thinking about this all week. If we want to know how strong a currency pair is, we can look at how far up/down it is from the daily and/or weekly open.

Occam's razor:

"All other things being equal, the simplest solution is the best."

Price is either up or down for the time period. What could be simpler than this?
  • #782
  • Oct 25, 2008 6:04pm Oct 25, 2008 6:04pm
Quoting deadsoul
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.
Are you using the CCfp 1.04-MTF? it does just that it only gives a signal if the chosen TF's agree with each other.
  • #783
  • Oct 25, 2008 6:11pm Oct 25, 2008 6:11pm
Quoting Pipo
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 .
Thank you

KG
  • #784
  • Oct 25, 2008 6:30pm Oct 25, 2008 6:30pm
Great picture and post, PipClipper. I assume the indicator can be set for shorter time frames. I'd very much appreciate it if you could post the indicator. Thanks. By the way, Comdoc on his thread noted that the USD/CAD and USD/CHF usually run opposite the herd, and that can be readily seen in your attachment.
Quoting PipClipper
http://i33.tinypic.com/50iii8.gif

Something about all this relative strength has been bothering me. I was thinking about this all week. If we want to know how strong a currency pair is, we can look at how far up/down it is from the daily and/or weekly open.

Occam's razor:

\"All other things being equal, the simplest solution is the best.\"

Price is either up or down for the time period. What could be simpler than this?
  • #785
  • Oct 25, 2008 6:59pm Oct 25, 2008 6:59pm
http://i37.tinypic.com/aczaev.gif

A display showing the current and previous 4 bars ( right to left, just like the chart), can show the "relative strength" based on close - open for the time period. This could also be considered trend.
  • #786
  • Oct 25, 2008 7:05pm Oct 25, 2008 7:05pm
Quoting paradoxical
Great picture and post, PipClipper. I assume the indicator can be set for shorter time frames. I'd very much appreciate it if you could post the indicator. Thanks. By the way, Comdoc on his thread noted that the USD/CAD and USD/CHF usually run opposite the herd, and that can be readily seen in your attachment.
http://i36.tinypic.com/8xmp0x.gif

Did you mean time frames like H1 and H4? Indicator works on any time frame. I haven't finished it nor really tested it during the open market, so I don't want to upload it yet.
  • #787
  • Oct 25, 2008 7:21pm Oct 25, 2008 7:21pm
in t101 system there is 14 pair that 100% gos against each ether ok so 7 of them is going up and 7 down so when you can see one of the group where is it heading and another one from ether group is going in opposite side you can be sure which signal is valid for any pair in the great CCfp 1.04-MTF indicator this what iam trying to do.. i hope its clear now.
  • #788
  • Oct 25, 2008 7:44pm Oct 25, 2008 7:44pm
Quoting PipClipper
Something about all this relative strength has been bothering me. I was thinking about this all week. If we want to know how strong a currency pair is, we can look at how far up/down it is from the daily and/or weekly open.

Occam's razor:

\"All other things being equal, the simplest solution is the best.\"

Price is either up or down for the time period. What could be simpler than this?
IMHO you would have show lower TF's as well like the H1 and M15. Then you have to scan 28 pairs across the different TF's the get a picture of its strength and to get entry points.
It should show similar results as ccpf_diff mtf on level0. Anyway could be interesting to see it in pips. Keep it up.
Attached Image (click to enlarge)
Click to Enlarge Name: 111a.JPG Size: 50 KB
  • #789
  • Oct 25, 2008 8:57pm Oct 25, 2008 8:57pm
Quoting matrixebiz
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?
I think your problem is that you didn't read the answers about your questions. You have the answer in my previous post:

Quoting FerruFx
If difference is from 0 to 1, plot the first level
If difference is from 1 to 2, plot the 2nd level
MT4/MT5 EAs/Indicators/Alerts coder
  • #790
  • Oct 25, 2008 9:09pm Oct 25, 2008 9:09pm
Quoting Pipo
IMHO you would have show lower TF's as well like the H1 and M15. Then you have to scan 28 pairs across the different TF's the get a picture of its strength and to get entry points.
It should show similar results as ccpf_diff mtf on level0. Anyway could be interesting to see it in pips. Keep it up.
I am not sure what you would gain. Remember, this is just showing the candle color for the last 5 bars on the chart.

The last 5 M1 bars would be the last M5 bar.

The last 3 M5 bars is M15.

The last 2 M15 bars is M30

The last 2 M30 bars is H1

The last 4 H1 bars is H1.

Of course one can argue, you'll see the "turns" happening on the faster time frames.
  • #791
  • Oct 25, 2008 9:19pm Oct 25, 2008 9:19pm
Quoting Pipo
IMHO you would have show lower TF's as well like the H1 and M15. Then you have to scan 28 pairs across the different TF's the get a picture of its strength and to get entry points.
It should show similar results as ccpf_diff mtf on level0. Anyway could be interesting to see it in pips. Keep it up.
http://i33.tinypic.com/muzmsn.gif

The red/green bar count per time frame already has been done. I think that's superior to looking at the last five bars.
  • #792
  • Edited 10:31pm Oct 25, 2008 10:20pm | Edited 10:31pm
PipClipper,
Let me explain the way I see it.

If in the first 30 minutes in the H1 bar we move up 110pip but then followed by down moves of 85 pip just towards the close of the H1 then the H1 would have gained 25 pip giving you an up signal.

On the other hand it could be that the first 30min is a 110 pip down follow by a 85 pip move up in the last 15minutes of the H1 giving you also an up signal

How would you define a valid up or down signal? And how do you determine the stength of the signal?

With the bias clearly up and visible on the last 2 M15 one would consider the H1 up as valid where as in the first excample the bias is down.


Maybe if you use an ATR and x% of pip to filter minor moves but you still wouldn't know where the strength of a signal in the H1 has occured unless you look at the M15 bars.


So it doesn't seem to be that simple.LOL
The man different is you follow the pairs as the ccfp follows the currency.


That is where I see the ccfp Mtf and the use the level setting is doing a great job. Where the CFFp determines a signal by strength of a single currencies and pairs it with the opposite. Together with the level setting you can filter minor moves and over lets say 3 TF's you have to be able to nail a good entry point.

But keep at it I still like the idea
  • #793
  • Oct 25, 2008 10:33pm Oct 25, 2008 10:33pm
Quoting Pipo
PipClipper,
Let me explain the way I see it.

If in the first 30 minutes in the H1 bar we move up 110pip but then followed by down moves of 85 pip just towards the close of the H1 then the H1 would have gained 25 pip giving you an up signal.

On the other hand it could be that the first 30min is a 110 pip down follow by a 85 pip move up in the last 15minutes of the H1 giving you also an up signal

How would you define a valid up or down signal? And how do you determine the stength of the signal?

With the bias clearly up and visible on the last 2 M15 one would consider the H1 up as valid where as in the first excample the bias is down.


Maybe if you use an ATR and x% of pip to filter minor moves but you still wouldn't know at where the strength of a signal in the H1 has occured unless you look at the M15 bars.


So it doesn't seem to be that simple.LOL
The man different is you follow the pairs as the ccfp follows the currency.


That is where I see the ccfp Mtf and the use the level setting is doing a great job. Where the CFFp determines a signal by strength of a single currencies and pairs it with the opposite. Together with the level setting you can filter minor moves and over lets say 3 TF's you have to be able to nail a good entry point.

But keep at it I still like the idea
You're right. The relative strength can't be calculated with only the pair where the indi is attached like does the PipClipper's one (it seems).

The calculation has to be done with multiple pairs. It is the CCFp. Trying to do differently will be offtopic in my opinion.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #794
  • Oct 25, 2008 10:49pm Oct 25, 2008 10:49pm
Quoting FerruFx
I think your problem is that you didn't read the answers about your questions. You have the answer in my previous post:
but that doesn't make sense because from 0 to 1 is like Trade_level 0 because from no change (0) to some small change like 0.1 is like TL 0 so wasn't sure when you said plot 1st level, you mean TL1 ??
Oh, well, I'll figure it out no biggie
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #795
  • Oct 25, 2008 10:52pm Oct 25, 2008 10:52pm
FerruFx, thanks for reminding us got carried away. Yes it is now off topic but to its defence it originated first from CCFp idea .
I think PipClipper should persue it now further in a new thread.
I will be following it.

PipClipper hope you understand it should go in its own thread.
Have a look at smjones.
Do You Have an Idea? Don't Want a New Thread? Post it Here Thread

http://www.forexfactory.com/showthread.php?t=119445
  • #796
  • Oct 25, 2008 10:54pm Oct 25, 2008 10:54pm
Quoting matrixebiz
but that doesn't make sense because from 0 to 1 is like Trade_level 0 because from no change (0) to some small change like 0.1 is like TL 0 so wasn't sure when you said plot 1st level, you mean TL1 ??
Oh, well, I'll figure it out no biggie
Ok. I re-phrase: "plot 1st colored square".

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #797
  • Oct 25, 2008 10:55pm Oct 25, 2008 10:55pm
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
For some reason mt4 crashes when I attach the EA. This happens when I change the time frame after attaching the EA. I am using Vista. I am wondering whether this is a Vista problem or my computer. I donot face such problems with any other indicator or EA.

Also whether this is a problem with XP?

TF
  • #798
  • Oct 25, 2008 10:59pm Oct 25, 2008 10:59pm
Quoting TradeForexFx
For some reason mt4 crashes when I attach the EA. This happens when I change the time frame after attaching the EA. I am using Vista. I am wondering whether this is a Vista problem or my computer. I donot face such problems with any other indicator or EA.

Also whether this is a problem with XP?

TF
Seems Ok here. Are you using the latest version of MT4 (build 218)? Anyone else?
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #799
  • Oct 25, 2008 11:11pm Oct 25, 2008 11:11pm
Quoting TradeForexFx
For some reason mt4 crashes when I attach the EA. This happens when I change the time frame after attaching the EA. I am using Vista. I am wondering whether this is a Vista problem or my computer. I donot face such problems with any other indicator or EA.

Also whether this is a problem with XP?

TF
Because it was compiled with Build 218 and you use a build less than 218.

I had the same issue with my tools and now I compile all with build 217 until MT4 solve the issue.

FerruFx
MT4/MT5 EAs/Indicators/Alerts coder
  • #800
  • Oct 25, 2008 11:47pm Oct 25, 2008 11:47pm
Quoting FerruFx
You're right. The relative strength can't be calculated with only the pair where the indi is attached like does the PipClipper's one (it seems).

The calculation has to be done with multiple pairs. It is the CCFp. Trying to do differently will be offtopic in my opinion.

FerruFx
Calling this "off topic" is your way of protecting your turf. Keep the people dependent on your code that you don't share the source. Fear not. I post no more here.
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