Forexgrail excel indicator

Demo...I don't trade on NFP days...period

Ironically I got all excited...but really it just told me to buy EXACTLY when my system told me to buy anyway...although nice confirmation though!

well for 2 days i have been only periodically looking at the excel sheet and following it with no limits or stops... pretty much trading it WITHOUT even looking at the charts and I am UP. I will do this for about a week and see what shakes out.

When I look into the main sheet it says the thread is moved. No idea why

You should buy this when I mention like 5 days ago when

USDJPY hit 14 years low.. BUY LOW SELL HIGH, at least that's

what I'm doing

USDCAD long??? Ha-ha, ok.. (Could be good though for quick profit) Today Market is jerk knee reaction.

This phony USD will we dumped like POS on Monday.. Dollar will go

much lower eventually, nothing could stop that. And "NO" they won't

rise rates on themselves at least till 2012 or it could be just another Japan

situation, when there is no possibility to rise rates for over 10 years now, because of the Massive

amount of .GOV DEBT, which is approaching 200% DEBT to DGP ratio and that's

exactly the USD future. Mean while, USD Bulls, enjoy the rally for couple of

days anyway. IMHO

Pollute this thread with the same Long term Daily technical/gold/oil analysis you post on EVERY THREAD you enter.

We are talking about the .xls file...thats it..

By the way you "ha ha" at my Long UCAD...just closed it out at +47 pips on a Friday Afternoon.

I don't care what you or Bloomberg think about GLOBAL ECONOMICS...I just want to capture pips.

This thread is about Forexgrail exel indicator.

By the way, anybody think is there possibility to create Indy

based on that and eventually EA maybe?

I like to know why this tread is moved

Well what you have is not a trading system with exact entries, stops, take profit etc. What you are doing is testing an indicator(the forex grail). That is why I think it was moved

Read the last page what scoopy do said. It's an old concept there are hundrets of links and indicators and EAs on FF.com.

Forexgrail is not a holygrail. However, it can still get us close to IMHO.

I found out about this discussion about a couple of hours ago before moved. This is what I have noticed about forexgrail for the people who are interested in.

About Forexgrail;
Relative strength or the total strength from the forexgrail is not really accurate as other commercial versions, especially when market is slow. So please don't put too much trust on the absolute value. However, it is still effective when comparing currencies each other. (The important thing is not the value but the rate of change of the value)

Pip range is simple daily range and bid ratio is the distance from the bottom so to speak. It is not a overbought or oversold indication.

To use the forexgrail effectively, you will need to open 7 to 9 charts and confirm the strength from the PA (probably from the 5m chart). For the extra confirmation, VSA or orderflow data can be really valuable. However, most of us don't have access to the orderflow, VSA volume indicator will help to determine whether it is the end of the run or to be continued from the pull back. (i.e. Shamus VSA discussion)

Since most of us don't have mucho dinero to move the currencies as we desire, the best way is to follow the market. By knowing the 8 currencies' strength/direction is as close as getting to the holygrail because Forex Trading is all about the direction it is going and the distance it is moving IMHO.

Best Pip Wishes!

I've seen something similar to the ForexGrail.xls before. It's the XLS attached to this post. Two posts further down (#56) you'll find a MT4 version that I wrote, after reverse engineering the calculations in the XLS.

The Recent Strength indicator is a more feature-rich version of the indicator attached by Matsu to post #30 (and hopefully doesn't cause division by zero errors). It plots a separate curve for each currency, that represents a weighted average of its performance against all other currencies, simultaneously in all nine MT4 timeframes. There are also a number of other adjustable parameters.

As has been already pointed out, there have been several earlier threads on the topic of trading according to relative currency strength. IMO trading negatively correlated currencies is a smart adjunct to a good TA-based method.

Well this thread has blossomed over the last few days and rightly so

Lets all concentrate on this excell file and ride with the pips, next week will be interesting and good luck to all out there, anything that makes life easier to read the charts in these volatile times is certainly a help and thanks for sharing ti with us

Paul B

Below is an article i found on Forex Crunch.

Could be interesting reading for some less experienced traders, just thought i would post.

The release of the American Non-Farm Payrolls is a circus in the forex market. Here are a 5 notes to watch out for in every Non-Farm Payrolls release during the financial crisis:

Note number 5 is the most important one – the knee jerk reaction.

1.New traders – stay away: Trading during this volatile period is very risky. Take a break and enjoy the weekend.

2.Action before the release: Strange moves begin in the markets well before the release at 13:30 GMT. This usually reflects the expectations – expectations which aren’t necessarily met, and they can lead to a counter reaction afterwards. Jittery trading intensifies with the release of the Canadian employment figures, an hour and a half before the American ones.

3.Friday effect: Strong moves in a certain direction – either dollar strength or dollar weakness, can be seen hours after the release, usually in the last hour of the London session – between 16:00 to 17:00 GMT. This is the move that will determine the close of the week, and thus have a real long term effect. This is the full reaction.

4.Technical barriers can be broken – support and resistance lines, uptrend support or downtrend resistance lines can be breached around the release of the NFP. This is usually only temporary – the graph returns to normal after a while, and these lines are respected again.

5.Initial reaction is wrong: the initial reaction to the release is in the wrong direction: the knee jerk reaction is usually “normal”: good data yields dollar strength and bad data yields dollar weakness. This is very temporary! We are still in the global crisis, and the risk factor rules. So, minutes after the “normal” reaction, the risk factor kicks in and eventually the opposite happens: good data yields dollar weakness (risk appetite), while bad data yields dollar strength (risk aversion).

FF is correct in moving the thread because we are testing only the indicator or Spread Sheet. The system should have proper entry rules and exit rules

I am updating the first post with the required entry rules and will see how it goes

I have updated the first post with entry rules

A Templete is attached now

Hi, i am using something similar.
My entry is when H4 price candle crosses the 55 ema (magenta colored MA in the chart). Then i will refer to the Strength Meter if there is very obivous difference between the strength of the currencies, i will enter. If not, i will stay out. If all the currencies strength all quite the same, i will not enter.

For example, if Euro strength is 3.41 and USD strength is 3.71. I would not short Euro, the difference is too small, no clear winner.
In the chart provided, we can see that USD is very strong 8.86 compared to JPY 2.00, so we can long USD/JPY.

Best entry is when price just broke 55ema, if price is already far away from the H4 55 ema, i stay out because price already run away. For example, the EUR/GBP trade i close with small profits because the price is exhausted and it is showing potential reversal, besides my initial entry is far away from the 55ema which is not so profitable.

Just my opinion. Please comment.

One of the big problems with trading...is that traders tend to complicate things every time....
Keep it S.I.M.P.L.E.

We have a very simple...and good excel file...SIMPLE

Why do we need to create something different?? EAs?? Other indicators?? Other magical stuff?? Other astronomic stuff??

Why???
I repeat myself...Forexgrail is a help to identify the best pair to trade...and to put the probabilities in our favour when it gives buy/sell signals... than the trader has to do some work...watching the chart and trading...

I know no serious trader that makes money with expert advisors...

Another thing...I really don't understand...I can't understand...why on every thread...someone posts only to denigrate the strategy or to talk of something different...

If I don't trust in a strategy, or if I find a strategy useless...simply I don't read and partecipate to that thread...it's so SIMPLE...

i have one concern.

as what i know, the formula is calculate like

(bid - low) / range

so what happens when a new day starts? what are the values be like? will it be still accurate?

can it be improve like finding the the highest high and the lowest low of the past 24 one hour bars and do the calculation?