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H1Scalper System (MTF D1,H1,M5)

  • #661
  • Jan 17, 2010 8:50pm Jan 17, 2010 8:50pm
The individual currencies strenght and spread on the pairs give me info on which currencies pairs I should be entering using the Trix Meter. But the Rank system is even better, especially Top 10 currencies, although so far I find it lagging, but it's still good. I still need to learn more...

Keep you guys updated.
  • #662
  • Jan 18, 2010 12:03am Jan 18, 2010 12:03am
Quoting ForexHunter
The individual currencies strenght and spread on the pairs give me info on which currencies pairs I should be entering using the Trix Meter. But the Rank system is even better, especially Top 10 currencies, although so far I find it lagging, but it's still good. I still need to learn more...

Keep you guys updated.
I agree the ranking is the added benefit as I know at a glance which pair to trade. Further the RC gives the information of which pair is moving >3.

It might appear lagging because it is average values of the higher 4xTF. MTF trix is the lower 4xTF.

The MTF TRIX used for entry and exit based on direction of trend.

Hope this helps.
  • #663
  • Jan 18, 2010 2:40am Jan 18, 2010 2:40am
I still do not understand the negative number in the individual trend strenght of each currency. Should I ignore it and focus only on the positive number?
  • #664
  • Jan 18, 2010 2:41am Jan 18, 2010 2:41am
Hi all, i'm following this thread from some weeks, so if i understand well a high RC number isn't a bad thing if we are in the first 10 positions, is that correct?
  • #665
  • Jan 18, 2010 3:22am Jan 18, 2010 3:22am
Quoting ForexHunter
I still do not understand the negative number in the individual trend strenght of each currency. Should I ignore it and focus only on the positive number?
My understanding:
The more negative the number the weaker it is. Do not ignore. The ranking shows the stongest vs weakest currency.

I am still confused about 2x negative numbers like eurgbp today..... It ranked first for sometime today???
  • #666
  • Jan 18, 2010 3:24am Jan 18, 2010 3:24am
Quoting Xythras
Hi all, i'm following this thread from some weeks, so if i understand well a high RC number isn't a bad thing if we are in the first 10 positions, is that correct?

My observation:

RC= >3 is good. However, if too high shows an exhaustion of trend. I have to observe more????
  • #667
  • Jan 18, 2010 3:50am Jan 18, 2010 3:50am
I find the RC numbers aren't accurate. So far the only thing that makes sense is the individual currency strenght. I only enter on the currency pairs I am familiar with. And of course using the Trix Meter strategy.
  • #668
  • Jan 18, 2010 5:57am Jan 18, 2010 5:57am
Quoting ForexHunter
I find the RC numbers aren't accurate. So far the only thing that makes sense is the individual currency strenght. I only enter on the currency pairs I am familiar with. And of course using the Trix Meter strategy.
- I think I have explained that the ranking in the CombinedTrend column is the sorting of absolute values.
- Positive values shows a long CombinedTrend, and negative values shows a short CombinedTrend.

- As axample, we have the currencies:
aaa: individual strength = 40
bbb: individual strength = -50
ccc: individual strength = 30

The combined pair aaa/bbb has a CombinedTrend +40 - (-50) = 90
The combined pair aaa/ccc has a CombinedTrend +40 - (30) = 10
The combined pair bbb/ccc has a CombinedTrend -50 - (30) = -80

The ranking of the absolute values is:
1. aaa/bbb = 90
2. bbb/ccc =-80
3. aaa/ccc = 10

- The ranges changes, and the calculation is made every minute. If a pair change as example from range 8 to 6, than to 5 or 4 without falling back, this is good for the trend. If the range of a pair change from 8 to 10, 12, this is not good for the trend, and you must think to close positions in this pair.
The RangeChange numbers (RC column) are accurate. You must only understand the logic of number changes...

Because all single pairs of the default pairs are taken in the calculation, the ranges shows like a radiogram how moves the pairs each other in the comparative.
This is the best way to set on winning horses, and to avoid lame ducks.
  • #669
  • Jan 18, 2010 7:14am Jan 18, 2010 7:14am
Another question, what's the finger/arrow pointing up or down next to the currency pairs mean? And also what do the number [1] 2 or turning arrow mean?

Thanks for your explaination but I am trying to figure things out right now. First day trying out this amazing dashboard. Great Job
  • #670
  • Jan 18, 2010 7:25am Jan 18, 2010 7:25am
Hello.

I've tead the thread and searched the files for the SwingManTrioAvgOsc indicator and couldn't find it. Could someone please post this indi? I'm using the Trix version and would liketo compare.

SwingMan thank you for all of the work that you do here. You are extremely creative and have the patience of a saint

Thank you,
Sandy
  • #671
  • Jan 18, 2010 9:10am Jan 18, 2010 9:10am
HI Swingman

Thanks for all hard work. I was wondering if you had any indicators for MTF Overbought and Oversold in a range of currencies. I do not know if you are following Stevehopwood`s thread below. There is a regular contributor by name of SCOOBYDOO who is a professional trader and he has put forward a number of strategies based on OB/OS as alternative to Support/Resistance and steve has designed EAs for them. I would be grateful if you could point me to the right direction.

Regards
P.S. below is STeve`s thread
http://www.forexfactory.com/showthread.php?t=204646
  • #672
  • Jan 18, 2010 9:22am Jan 18, 2010 9:22am
Quoting nubchai
I've tead the thread and searched the files for the SwingManTrioAvgOsc indicator and couldn't find it. Could someone please post this indi? I'm using the Trix version and would liketo compare.

SwingMan thank you for all of the work that you do here. You are extremely creative and have the patience of a saint
- Here the indicator for you. Save the ".mq4" file in folder ".../indicators" and the ".mqh" file in folder ".../include".

- Unfortunately, I'm impatient, so I can not trade with my tools... Can you handle that, and I can only learn.
.
Attached File(s)
File Type: mq4 smTrioAvg Osc.mq4   12 KB | 1,196 downloads
File Type: mqh TrioAvg_Include.mqh   6 KB | 1,123 downloads
  • #673
  • Jan 18, 2010 9:34am Jan 18, 2010 9:34am
Quoting SwingMan
- Here the indicator for you. Save the ".mq4" file in folder ".../indicators" and the ".mqh" file in folder ".../include".

- Unfortunately, I'm impatient, so I can not trade with my tools... Can you handle that, and I can only learn.
.
Hi Swingman,

I can handle that..no problem Thank you very much!

Sandy
  • #674
  • Jan 18, 2010 9:41am Jan 18, 2010 9:41am
Quoting ForexHunter
Another question, what's the finger/arrow pointing up or down next to the currency pairs mean? And also what do the number [1] 2 or turning arrow mean?

Thanks for your explaination but I am trying to figure things out right now. First day trying out this amazing dashboard. Great Job
- The dashboard is amazing, I know this!

- But please believe me that I have not the time to explain a lot. Right now I'm working on two indicators, and read two books. When I was young I could do six matters at a time, now only four ...

The answer to your finger/arrow question find you in my post #563.
The numbers and the other arrows are similar with the description in lrathi's documentation (.pdf file) in the first post.

Perhaps one of the interested user can summarize in a .doc file the postings with technical questions and answers and send me the file.
I can revise them in a first step, and when lrathi have more time she can help further with a new documentation.
  • #675
  • Jan 18, 2010 9:58am Jan 18, 2010 9:58am
Quoting ForexHunter
Another question, what's the finger/arrow pointing up or down next to the currency pairs mean? And also what do the number [1] 2 or turning arrow mean?

Thanks for your explaination but I am trying to figure things out right now. First day trying out this amazing dashboard. Great Job
finger arrow when both blocks of TF's (lower block and higher block TF's) all show the same direction of PA.

The other simple arrow when lower block TF are all showing the same direction but NOT with higher TF block.

NUmber [1] 2 etc. please read the pdf manual from post 1 which I wrote. The meaning is all explained there.

Thanks,
  • #676
  • Jan 18, 2010 10:26am Jan 18, 2010 10:26am
Quoting astral77
...I was wondering if you had any indicators for MTF Overbought and Oversold in a range of currencies. I do not know if you are following Stevehopwood`s thread below. There is a regular contributor by name of SCOOBYDOO who is a professional trader and he has put forward a number of strategies based on OB/OS as alternative to Support/Resistance and steve has designed EAs for them. I would be grateful if you could point me to the right direction.
- I think your question does not fully understand, because from what I have read, the EA use the RSI. Sure can you use other indicators (Stochastic, MoneyFlow or ROC). But in the over 4000 postings I think there are some suggestions.

- Maybe in the next time I develope few DeMark indicators who identify OB/OS zones, and maybe can help you this.

- But until then I post for you(...) a nice indicator, to identify on which level the money is stagnant and then continues to move!

You can see that my indicator works verry well with all the other indicators or oscillators.
.
Attached Image (click to enlarge)
Click to Enlarge Name: pricecontrollines.gif Size: 24 KB
Attached File(s)
File Type: ex4 smPA_PriceControlLines_v1.ex4   4 KB | 1,129 downloads
  • #677
  • Jan 18, 2010 10:34am Jan 18, 2010 10:34am
Thanks very much, you are always very kind and accomodating. For sake of clarity th EA is based on th following principals

Go Long
- if currency > 200 4H SMA and OS in 15M, 1H and 4H.

Go Short
- if currency < 200 4H SMA and OB in 15M, 1H and 4H.

Thanks once again.
  • #678
  • Jan 18, 2010 10:41am Jan 18, 2010 10:41am
Quoting astral77
Thanks very much, you are always very kind and accomodating. For sake of clarity th EA is based on th following principals

Go Long
- if currency > 200 4H SMA and OS in 15M, 1H and 4H.

Go Short
- if currency < 200 4H SMA and OB in 15M, 1H and 4H.

Thanks once again.
This is OK, but the OS/OB are calculated with the RSI or not?
  • #679
  • Jan 18, 2010 10:53am Jan 18, 2010 10:53am
Quoting SwingMan
This is OK, but the OS/OB are calculated with the RSI or not?
Yes of course they are. As stated average of 15m, 1H and 4H RSI`s are taken in order to indicate OS/OB (Which is then user defined i.e. 30/70, 20/80 or 10/90).
thanks
  • #680
  • Jan 19, 2010 7:04pm Jan 19, 2010 7:04pm
Quoting SwingMan
- I think I have explained that the ranking in the CombinedTrend column is the sorting of absolute values.
- Positive values shows a long CombinedTrend, and negative values shows a short CombinedTrend.

- As axample, we have the currencies:
aaa: individual strength = 40
bbb: individual strength = -50
ccc:...
"If a pair change as example from range 8 to 6, than to 5 or 4 without falling back, this is good for the trend. If the range of a pair change from 8 to 10, 12, this is not good for the trend, and you must think to close positions in this pair."

what do you means by this sentence ?? i should saw the ranges column or the RC column ??
in the ranges column it shows 2/1 , 9/7 and the Rc column shows 3 .......
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