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Indicators development for T101's not very simple method

  • #701
  • Oct 29, 2008 8:28am Oct 29, 2008 8:28am
Quoting TickJob
where, can pm me?
I guess he means this:

http://www.forex-tsd.com/240049-post151.html

The guy didn't post the indi.it's just the picture.
Failure, is a wonderful teacher!
  • #702
  • Oct 29, 2008 10:41am Oct 29, 2008 10:41am
Hi zznbrm,

First, thanks for the dashboard. I've been using it to confirm the T101's basket indicator crossover.
Second, may I ask for the mq4 file of the v2? I'd like to change the pairs that's all. Or, if it's not bothering you to put an input parameter for the pairs.
Third, I apologize for any possible misunderstanding for my request here (meaning: my English isn't that good ).
  • #703
  • Oct 29, 2008 12:01pm Oct 29, 2008 12:01pm
Quoting smjones
Here is my version
smjones,

1. what does your indicator reading represent in the basket IA?
2. what indicator reading signals 14 long trades?
3. what indicator reading signals 14 short trades?
4. how does the indicator signal tandem trades?

thanks.
  • #704
  • Oct 29, 2008 1:23pm Oct 29, 2008 1:23pm
I was just LONG the basket, after waiting and watching all day for the perfect set up and hit +500 pips. Then, in the span of about 3 or 4 minutes, all of my pips disappeared and I exited the trade.

I also trade the ES contract (S&P eminis) and I had a separate screen open watching it rocket up on a 510 tick chart, along with my basket that was also going up. Then the ES contract dropped 50 points in 10 minutes....which is off the charts in terms of an ES move. This drop corresponded exactly with the evaporation of my basket pips. I have noticed this correlation before, and noted it in one of these threads, but this time I saw it in real time, while I watched my pips evaporate.

Check out the attached screen shots of the EURJPY (1M) and the ES contract (510T) taken at about 3:48 EST. The charts are not to scale because one is based upon time (1M) and the other ticks. Still not sure exactly who is following who, but there's no doubt in my mind that the basket is linked to the ES contract (at least during US equities market hours - 9:30am - 4:00pm EST).

Slade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 29 KB
Click to Enlarge Name: ES Contract.jpg Size: 63 KB
  • #705
  • Oct 29, 2008 2:43pm Oct 29, 2008 2:43pm
Slade- this is excellent info! I found some web-sites that support your observation. In one of them, Ed Ponsi wrote:

"Next, you might want to branch out into the USD/JPY currency pair. The Yen "goes its own way" and is heavily influenced by price action in the stock market."


Quoting slade
I was just LONG the basket, after waiting and watching all day for the perfect set up and hit +500 pips. Then, in the span of about 3 or 4 minutes, all of my pips disappeared and I exited the trade.

I also trade the ES contract (S&P eminis) and I had a separate screen open watching it rocket up on a 510 tick chart, along with my basket that was also going up. Then the ES contract dropped 50 points in 10 minutes....which is off the charts in terms of an ES move. This drop corresponded exactly with the evaporation of my basket pips. I have noticed this correlation before, and noted it in one of these threads, but this time I saw it in real time, while I watched my pips evaporate.

Check out the attached screen shots of the EURJPY (1M) and the ES contract (510T) taken at about 3:48 EST. The charts are not to scale because one is based upon time (1M) and the other ticks. Still not sure exactly who is following who, but there's no doubt in my mind that the basket is linked to the ES contract (at least during US equities market hours - 9:30am - 4:00pm EST).

Slade
  • #706
  • Oct 29, 2008 3:03pm Oct 29, 2008 3:03pm
Hi Slade,
Would you tell us where could we get the chart for ES contract please?

Thanks
Mike
Failure, is a wonderful teacher!
  • #707
  • Oct 29, 2008 4:10pm Oct 29, 2008 4:10pm
His chart has TradeStation on it. FXPro has S&P500.

Quoting mike1349
Hi Slade,
Would you tell us where could we get the chart for ES contract please?

Thanks
Mike
  • #708
  • Oct 29, 2008 8:04pm Oct 29, 2008 8:04pm
Slade's observation has been insightful as always.

However, I am afraid that this correlation between EJ and ES contract doesn't imply a long-term reliable profitable trading opportunity.

It is a little distracted.

However, slade is the one of the few who understands T101's method most.

Quoting slade
I also trade the ES contract (S&P eminis) and I had a separate screen open watching it rocket up on a 510 tick chart, along with my basket that was also going up. Then the ES contract dropped 50 points in 10 minutes....which is off the charts in terms of an ES move. This drop corresponded exactly with the evaporation of my basket pips. I have noticed this correlation before, and noted it in one of these threads, but this time I saw it in real time, while I watched my pips evaporate.
Slade
  • #709
  • Edited 6:34am Oct 30, 2008 5:30am | Edited 6:34am
Quoting charvo
Slade's observation has been insightful as always.

However, I am afraid that this correlation between EJ and ES contract doesn't imply a long-term reliable profitable trading opportunity.

It is a little distracted.

However, slade is the one of the few who understands T101's method most.

Charvo,

Your observations are a good addendum to my post about the ES contract and the basket. I did not mean to suggest that there was a perfect correlation between the two. But even if there were, it still would not amount to a holy grail indicator, because then all you would have are two instruments that move exactly alike, and you would be back to square 1, wondering when you should enter and exit your trade.

As to the EJ / S&P futures relationship, what I am suggesting is that if you are trading the basket (ibfx pairs) you may want to tune into what is happening with the US equities market (which is led by the S&P futures, of which the ES contract is just the smaller electronically traded version), particularly if there is a strong bias in one direction or another. Of course, yesterdays move was, as I mentioned, off the charts, and so was the previous day (Tuesday) - which continued to go straight up and did not reverse, and was a great indicator that you should hold on to your long basket.

So going back to using the ES as an indicator, all I am suggesting is that you could use a long/short ES bias (if you can clearly see one) as a directional guide for your basket, tighten your stops on your basket and be ready to protect your profit if you are in a trade and see the ES make a strong move in the opposite direction of your basket, and be very cautious about entering a basket trend in the opposite direction of a strong ES trend (unless you are fading the trend and trying to pick tops or bottoms). While we all want a magic indicator that will tell us when to enter and when to exit (myself included), I fear that one does not exist and there will never be a substitute for traders having to actually think through their trades and evaluate all market conditions that define their edge so as to increase the chances of getting into good trades, and more importantly, knowing when to exit or protect profit. That's all I am saying...is that this relationship may be a useful indicator to increase the basket traders edge.

Like everyone else, I am still very curious to see how this system works in "normal" market conditions. I suspect that the unwinding of the Yen carry trade may have something to do with this close relationship lately, so its hard to tell just how strong it will be in the future. Many times the ES (US equities market) will chop up and down and move in a 10 point range all day, just like you see in the currency markets on many days, and it may be useless as a guide. But there are plenty of huge one directional daily moves in the ES and my assumption is that it will still be a helpful "indicator" and guide for basket traders even when the market cools down.

Slade
  • #710
  • Oct 30, 2008 8:23am Oct 30, 2008 8:23am
Quoting charvo
Slade's observation has been insightful as always.

However, I am afraid that this correlation between EJ and ES contract doesn't imply a long-term reliable profitable trading opportunity.
.
i remember people complaing a few months ago that this correlation had disaapeared. Sometimes it works, sometimes not.
  • #711
  • Oct 30, 2008 6:03pm Oct 30, 2008 6:03pm
So T101 goes home and everybody else leaves the sandbox too? Whats up with that?

Slade
  • #712
  • Oct 30, 2008 7:30pm Oct 30, 2008 7:30pm
I have to post a note of thanks to all of the contributors of the method - especially T101 and Orest - I just made 270 pips on my first live trade. Using a basket trade on an IBFX mini account.

Thanks again,

Matt
  • #713
  • Oct 30, 2008 10:29pm Oct 30, 2008 10:29pm
Well, I beleive we have all the tools, don't we? Maybe it's possible to make them nicer, but they are still sufficient to trade this method. Everybody's welcome to share setups and ideas.

Quoting slade
So T101 goes home and everybody else leaves the sandbox too? Whats up with that?

Slade
  • #714
  • Oct 31, 2008 1:31am Oct 31, 2008 1:31am
Quoting Orest
George,
refer to attached file what do you need to do with your chart properties to hide the chart and not to obscure your indiator.

If you put the basket bars on the same chart you would watch PA (basket) on the same chart window (different inidcator windows).

This is how your \"ideal\" screen should look like (Copyright, hndymann)
http://www.forexfactory.com/showpost...&postcount=837


Regarding the other requests the best I can do is to give you an option to set a floating time frame like it is now (1 hour ago, 30 min ago, etc) or since beginnning of the correspondent candle (this hour, this 30 min, etc).

Would be great if you occasionally post your...
Hi Orest,

Can you post a link to the Basket_Indicator shown in hndymann's post? Yes please, I'm interested in an option to set the column array timeframe from the beginning of the current trading day, etc.

Thank you,

George
  • #715
  • Oct 31, 2008 9:09am Oct 31, 2008 9:09am
George,
I beleive it's BasketBars_v1.5 in the paperclip of this thread.


Quoting comdoc
Hi Orest,

Can you post a link to the Basket_Indicator shown in hndymann's post? Yes please, I'm interested in an option to set the column array timeframe from the beginning of the current trading day, etc.

Thank you,

George
  • #716
  • Oct 31, 2008 10:40am Oct 31, 2008 10:40am
Quoting Orest
Well, I beleive we have all the tools, don't we? Maybe it's possible to make them nicer, but they are still sufficient to trade this method. Everybody's welcome to share setups and ideas.
Hi Orest,
YES WE DO HAVE ALL THE TOOLS, JUST 1 MORE FAVOR IF IT'S NOT TOO MUCH TO ASK YOU,,,,,,CAN YOU ADD AN ALERT WHEN 4HR SIGNAL CHANGE OR SWITCH ,,,,THAT WOULD BE ASOME....

THANKS
KEVIN
  • #717
  • Oct 31, 2008 3:19pm Oct 31, 2008 3:19pm
Fellow programmers,

This is a little off topic and quite technical, but some of you might find it useful to read on.

I've noticed in some of the indicators posted here that many of you are using the same shift value for all pairs in the iOpen, iClose, iHigh, iLow functions. This may result is erroneous data because the shift for each currency pair may be different for a given datetime/timeframe combination.

For example, let's say you are on a 1 hour chart and you want to calculate the Open values for all basket pairs on 10/21/2008 00:00. You would then use the iBarShift() for the current chart currency pair to get the shift value:

iBarShift( NULL, 0, "10/21/2008 00:00", true );

Then you use this shift value for all currency pairs. This is fine for the currency pair on the current chart, but it may or may not be the correct shift value for all other currency pairs. Sometimes bars are missing for particular currency pairs. Sometimes during low volatility, a new bar may have formed on the current chart but has not formed yet for the other currencies.

The farther back in time and the lower in timeframe you go, the bigger the problem may be.

I created the attached script to test this situation on my charts. For the specified timeframe and bar shift, the script will display the corresponding date/time for all currency pairs. Note that you may not have all 28 pairs in your system. Obviously, you would like all date/time values to be the same. Play around with different shift and timeframe values and you may start seeing variations in date/time values. There are 5 inputs to the script:

gintTF - Specify the timeframe you want to verify
gintShift - Specify the shift you want to verify
gintXStart - The x coordinate to start the list
gintYStart - The y coordinate to start the list
gclrFont - The font color to use for the list


This script serves 3 purposes:

1) Help identify any currency pairs that may not have enough data in the history files.

2) Help identify any currency pairs that are not available from your broker

3) Help identify any currency pairs that may be missing data (1 or 2 bars here and there)

I also have included a function below I use in my indicators to get around this problem.

Thanks....zznbrm


//+------------------------------------------------------------------+
//| getTrueBarShift() |
//+------------------------------------------------------------------+
int getTrueBarShift( string strPair, datetime dtBar, int intInShift )
{
int intNewShift = intInShift;

if ( dtBar != iTime( strPair, 0, intInShift ) )
intNewShift = iBarShift( strPair, 0, dtBar, true );

if ( intNewShift < 0 ) intNewShift = 0;

return( intNewShift );
}
Attached File(s)
File Type: mq4 ShowTimeForShift.mq4   4 KB | 783 downloads
  • #718
  • Edited 5:38pm Oct 31, 2008 5:10pm | Edited 5:38pm
Here are this week screen shots every 5 minutes interval:
http://www.tickjob.com/T101/T101-IB-27-oct.pdf
http://www.tickjob.com/T101/T101-Alp...1hr-27-Oct.pdf
  • #719
  • Oct 31, 2008 6:23pm Oct 31, 2008 6:23pm
Quoting Orest
George,
I beleive it's BasketBars_v1.5 in the paperclip of this thread.
You misunderstood. There is a second indicator in the BasketBars window; that is the one I would like to add. Have a look at the image you posted. It is drawing lines on the BB chart.

Clarification,

George
  • #720
  • Nov 1, 2008 7:49am Nov 1, 2008 7:49am
Quoting TickJob
Here are this week screen shots every 5 minutes interval:
http://www.tickjob.com/T101/T101-IB-27-oct.pdf
http://www.tickjob.com/T101/T101-Alp...1hr-27-Oct.pdf
Thank you TickJob.. I love these files that you post here for us! Keep it up please!

Luke
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