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Relative Strength Basket Trading System

  • #1,521
  • Dec 6, 2008 4:42pm Dec 6, 2008 4:42pm
Quoting maxreturn
Hello, I just installed v 1.1 on my platform and for some reason all of the default colors for the plots for this indicator are black. Yet the individual currency symbols with the + and - show up with colors on the left hand side. When I tried to go into editor there is no .mq4 version so I can't change the defaults. Is this the way the indicator is supposed to be? If so can someone tell me what the colors are? Some are obvious but others are difficult to match up. Many thanks for the great thread!

Regards
Max
I get this all the time just change the time frame to something else and then back, usually colors show up again, i'm gonna guess that maybe you are running linux? if so welcome to the quirks of wine.
  • #1,522
  • Dec 6, 2008 4:47pm Dec 6, 2008 4:47pm
hi elchoco Basket Analysis Vs. Basket Trading

good point thanks.

can you give an example with chart would be nice

you start to trade the strongest and weakest when they start to turn?

thanks

lodol
  • #1,523
  • Dec 6, 2008 6:17pm Dec 6, 2008 6:17pm
Quoting lodol2
hi elchoco Basket Analysis Vs. Basket Trading

good point thanks.

can you give an example with chart would be nice

you start to trade the strongest and weakest when they start to turn?

thanks

lodol
I'm thinking about it more theoretically than anything else. I'm totally new to this thread although I've been calculating appreciation/depreciation of the majors by hand for months. These indicators are brilliant.

Friday night was my first chance to trade with everything from this thread installed and it proved very profitable. I'm just throwing out some thoughts based on my experiences with basket analysis. Give me a bit more screen time and I'll come back to you with some charts.

I'm more than happy if someone can post a good reason for trading the whole basket. It just didn't seem to make immediate sense.

Still working on the entries and, especially, the exits. See http://www.forexfactory.com/showpost...postcount=1495 for Friday night's entry criteria and thoughts.
  • #1,524
  • Dec 6, 2008 6:33pm Dec 6, 2008 6:33pm
hi ellecho

thanks for quick reply looking forward to your comments

i not trade a basket only youse the indicator for trading individual pairs...only as support..

thanks

lodol
  • #1,525
  • Dec 6, 2008 6:50pm Dec 6, 2008 6:50pm
I will use the same rules for next week. The rules and chart setup is here: http://www.forexfactory.com/showpost...postcount=1179

Last week results is very good. I open the trade manually, i'm not using the script because base on the rules each pair has a different timing for entry. I use Multi_Purpose_Trade_Manager EA to set all my SL at BEP+2 after reach +30pips on Trending Trend and set SL at BEP+2 after reach +20 on Ranging Trend. I Close all my open position when RS_GROUP_JPY V1.1 reverse cross.

Thanks

KG
  • #1,526
  • Dec 6, 2008 7:04pm Dec 6, 2008 7:04pm
Quoting elchoco
I've just spent a week going through this thread. It's totally brilliant. On my first attempt I just made 22% in about an hour. 45 trades, 5 loses, 1 break even.

What was I thinking calculating all the relative strengths by hand????

I don't think I've had so much fun in weeks.

Total Kudos to all you shining lights !!!!!!!!!

Strategy: [list][*]Waited for strong separation on RS_GROUP_JPY_V1.0[*]Confirmation with all arrows on KG_TREND_MTF_MULTIPAIRS_JPY[*]Double confirmation from HIGHEST_LOWEST_INDEX_V1.0[*]Trigger Entry with...
elchoco,

I like your strategy, it's have a good filter.
I have to tell you that KG_TREND_MTF_MULTIPAIRS_JPY and Highest_Lowest_Index V1.0 use Formula_2 to calculate the strength, but RS_GROUP_XXX & KG_RS_GROUP use another formula. Actually it's not much different but to help you in this observation i will make KG_TREND_MTF_MULTIPAIRS_JPY and Highest_Lowest_Index using the formula that is used by RS_GROUP_XXX & KG_RS_GROUP.

Thanks

KG
  • #1,527
  • Dec 6, 2008 8:46pm Dec 6, 2008 8:46pm
Quoting elchoco
Analysing which currencies are appreciating/depreciating against a basket of the Majors is something I've been working on for a while and the tools provided on this thread are nothing short of incredible for making this analysis total child's play.

The question is: Once we know from our analysis which currency is appreciating the most and which is depreciating the most, do we then gain anything by actually trading the whole basket?

I'm thinking that trading strongest against weakest will have the highest probability of success.

While trading...
Couldn't agree more... i've been testing with that kind of rules (posted some) and consistently profitable... the reason for using only KG_RS_Group is to avoid that kind of results, even if jpy is the strongest or the weakest at that moment does means instant profit to trade all with it, because as we all know the group is divided into 2 sometimes 3, and going their own way...

but, this is an observation, there supposed to be different rules so then we can come up with more than just one profitable ways using this system, and that will increase the probability of consistency in profit.

Cheers,
RaR
  • #1,528
  • Dec 7, 2008 3:31am Dec 7, 2008 3:31am
Quoting RaR
Couldn't agree more...

.....probability of consistency in profit.

Cheers,
RaR
That was what I wa chatting about a few posts back and certainly need to be looked into.

With the basket "balancing" at the moment it makes a safer than usual trade to make a profit, but by definition wont be a straight winner. Having said that 3 out of every 4 baskets fso far appear to be total winners.....

http://www.forexfactory.com/showpost...postcount=1467

So where to go from here.... entry and exit as the next step and I am looking forward to tthis week develpoing along with the group some rules..... then perhaps we can start splitting the basket down with a script to only trade the strongest 2 pairs ot perhaps the strongest and the next "x" by deviation?

Eddie
  • #1,529
  • Edited 6:23pm Dec 7, 2008 5:58pm | Edited 6:23pm
Quoting cincinnati
good
The picture of the christmas tree and the suspend thing

What does this mean

I must be the only one here although it shows that 3 members are online with 4 guest well you guys just quiet for now then
  • #1,530
  • Dec 8, 2008 2:03am Dec 8, 2008 2:03am
gj after last mondays fall,in one hour chart the candle has corssed 100 EMA
upwards, seems JPY weakness

As a matter of interest I am studying the Elliot wave theroey and woking perfectley in 5 minute chart and as per that wave 3 has started which will be
the biggest wave. I am trying this in gj

I am trying to combine EW with our system

If any on is interested I can send the screen shot
  • #1,531
  • Dec 8, 2008 2:36am Dec 8, 2008 2:36am
Quoting harigp
gj after last mondays fall,in one hour chart the candle has corssed 100 EMA
upwards, seems JPY weakness

As a matter of interest I am studying the Elliot wave theroey and woking perfectley in 5 minute chart and as per that wave 3 has started which will be
the biggest wave. I am trying this in gj

I am trying to combine EW with our system

If any on is interested I can send the screen shot
yes please, if you can send the templete
  • #1,532
  • Dec 8, 2008 2:51am Dec 8, 2008 2:51am
HI gav

There is no templete. Careful observation of graph and Identifying the wave
and I combined with our system and trying to keep long positon
  • #1,533
  • Dec 8, 2008 4:34am Dec 8, 2008 4:34am
My first of the week. Happy trading, everyone.

Attached Image (click to enlarge)
Click to Enlarge Name: jpy basket1.gif Size: 54 KB
  • #1,534
  • Dec 8, 2008 5:28am Dec 8, 2008 5:28am
Quoting SteveHopwood
My first of the week. Happy trading, everyone.

Hows that working for you Steve? Seems the market is very choppy today.

Eddie
  • #1,535
  • Dec 8, 2008 5:31am Dec 8, 2008 5:31am
Quoting bengong
use this modified script.... fxopen use dot after pair symbol on their live account... example for usd/jpy pair they used USDJPY. <== (with dot) instead of USDJPY (...
Thank's bro. It's working now in my micro account, but only 6 pairs (GJ not open)
  • #1,536
  • Dec 8, 2008 5:31am Dec 8, 2008 5:31am
Quoting harigp
gj after last mondays fall,in one hour chart the candle has corssed 100 EMA
upwards, seems JPY weakness

As a matter of interest I am studying the Elliot wave theroey and woking perfectley in 5 minute chart and as per that wave 3 has started which will be
the biggest wave. I am trying this in gj

I am trying to combine EW with our system

If any on is interested I can send the screen shot
Careful, EW is an entire system on its own...... I thought we were tying to keep things simple?

There will always be another layer we can add on..... eventually there will be nothing to trade.

Better to refine what we have first? Entry/Exit signals???



Eddie
  • #1,537
  • Dec 8, 2008 6:04am Dec 8, 2008 6:04am
  •  bengong
  • | Joined Jun 2008 | Status: oalaaaahhhhhhhhh yo yoooooooo...... | 38 Posts
hi... can someone help me ??? I need to a closed all script by comments that really works.... other than basket pairs op's I also op individual pair... soemtimes I need to close my basket op without closing my non basket op, as u know that basket op using KG as default comments, so I try to find a script that has ption to closed all by comments
I found this script by codersguru...
Attached File(s)
File Type: mq4 CloseAll - codersguru.mq4   5 KB | 408 downloads
==> it has option to closed by comments... but always failed to executed....

here's another closed all script that always works/ never failed to closed position, it seems forcing to close positions no matter what, but too bad don't have option to closed by comments only
Attached File(s)
File Type: mq4 Close_all.mq4   1 KB | 293 downloads
==> pls if someone can modify this script so it can be more powerful ??

many thx in advance
  • #1,538
  • Dec 8, 2008 6:06am Dec 8, 2008 6:06am
  •  bengong
  • | Joined Jun 2008 | Status: oalaaaahhhhhhhhh yo yoooooooo...... | 38 Posts
Quoting dek_pendi
Thank's bro. It's working now in my micro account, but only 6 pairs (GJ not open)
re attach the script again... sometimes it won't open all the basket pairs, but will succeeded if u retry, don;t worry the script will check first for other pairs, so u won't get a double op for other pair....

I forgot to say thx to stevehopwood for these wonderful script, and plz forgive me to modified and share it without asking ur permission, I only change the pair symbols so the scripts can work perfect in my broker mt4 (fxopen)
  • #1,539
  • Dec 8, 2008 6:30am Dec 8, 2008 6:30am
Posted this before... works like a dream. Please make sure you restart MT4 after adding it in.

Eddie

Quoting bengong
hi... can someone help me ??? I need to a closed all script by comments that really works.... other than basket pairs op's I also op individual pair... soemtimes I need to close my basket op without closing my non basket op, as u know that basket op using KG as default comments, so I try to find a script that has ption to closed all by comments
I found this script by codersguru...
Attachment ==> it has option to closed by comments... but always failed to executed....

here's another closed all script that always works/ never failed...
Attached File(s)
File Type: mq4 _CloseOrders.mq4   7 KB | 417 downloads
  • #1,540
  • Dec 8, 2008 6:37am Dec 8, 2008 6:37am
  •  bengong
  • | Joined Jun 2008 | Status: oalaaaahhhhhhhhh yo yoooooooo...... | 38 Posts
Quoting eddiemiller
Posted this before... works like a dream. Please make sure you restart MT4 after adding it in.

Eddie
thx eddie.. will give it a try
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