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Trading correlation pairs by using the other pairs 793 replies

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Attachments: scooby-doo BOJ JPY pairs trading robot
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scooby-doo BOJ JPY pairs trading robot

Quoting Jaula
Just wondering if someone that fully understands how scoob's methods are traded manually can write a manual so I can trade them manually, personally don't like robots.
You don't need a manual; they are the simplest methods in the world. Go to post 1 and find the description of each robot. Within each section is the link to the post where Scoobs first described the method.

There was a mistake in TCF V2 that stopped losing basket closing at a loss whatever the setting. Use this one for now, if anyone fancies a bit of testing.

Ignore the hedging stuff - that is under development.

Attached File(s)
File Type: mq4 Scoobs TCF V2.mq4   29 KB | 297 downloads
Quoting scooby-doo
As promised please find attached.

Scoobs

PS. I will not reply to what I consider stupid questions, especially around timezones.

all the 3 currencies must have the fully conditions met?

thanks
Quoting scooby-doo
As promised please find attached.

Scoobs

PS. I will not reply to what I consider stupid questions, especially around timezones.

Looks like a good canidate for an EA.
Quoting bruunoalves
all the 3 currencies must have the fully conditions met?

thanks
EURCHF = EURUSD * USDCHF

So, the RSI condition only applies to EURCHF which is the trigger.

Scoobs

Also, no trades if a public/festive holiday affecting Europe (EUR) or America (USD).
Quoting scooby-doo
EURCHF = EURUSD * USDCHF

So, the RSI condition only applies to EURCHF which is the trigger.

Scoobs

Also, no trades if a public/festive holiday affecting Europe (EUR) or America (USD).
nice! thanks a lot!
Quoting Punter
No, partially met with nappies ready!
than you put your tail between your legs and deleted your silly reply, trying to be funny smart guy.


Sorry all for this
if I make stupid idiot damm questions, please ignore me.
Regarding:

Correlation between EURUSD and USDCHF must be negative.

What is the best way to determine this? Is there an indicator that you rely on to make this assessment on a tradebar by tradebar basis?

Thanks,

saintmo
Quoting saintmo
Regarding:

Correlation between EURUSD and USDCHF must be negative.

What is the best way to determine this? Is there an indicator that you rely on to make this assessment on a tradebar by tradebar basis?

Thanks,

saintmo
Is is difficult in MT4 but you should be able to find a correlation indicator on FF. I dont know what my trading floor uses or how it is calculated.

Scoobs.
Quoting saintmo
Regarding:

Correlation between EURUSD and USDCHF must be negative.

What is the best way to determine this? Is there an indicator that you rely on to make this assessment on a tradebar by tradebar basis?

Thanks,

saintmo

try this site for correlation info...

http://www.forexmarkethours.com/correlation/06/

i'm affiliated to them so please do your own due diligence before taking the info they supply as gospel...

Grant

ps. Steve, Scooby or mods, if posting this link is against the rules please remove and i apologise for the error....
Quoting bruunoalves
than you put your tail between your legs and deleted your silly reply, trying to be funny smart guy.


Sorry all for this
if I make stupid idiot damm questions, please ignore me.
Sorry dude..didn't mean to upset you! Far from being smart..just collecting the pearls offered by scoobs and steve!

Peace
one more request Steve when you'll agree to add:

untill each trade is closed by rsi level 10/90, could you add an hidden trailing "banking 1/2 profit" starting when profit > 20pips.

i.e if we trade on wide timeframe, rsi of 10/90 could be not reached.

Have a great WE

regards
Try this one.... question is, what Time Frame to determine the EURCHF correlation? Seems like M1 will give the most sensitive calc.... but up for discussion??

(trading entry is independent of this time frame, as it is per the given RSI values on the given two time frames....)
Attached File(s)
File Type: mq4 Correlation.mq4   3 KB | 429 downloads
Quoting dinofx
untill each trade is closed by rsi level 10/90, could you add an hidden trailing "banking 1/2 profit" starting when profit > 20pips.

i.e if we trade on wide timeframe, rsi of 10/90 could be not reached.
You can change the CloseBuy etc inputs - they are inputs so users can play with their own settings. Also, you can use mptm to manage the trades in the way you want, for now. If the bot turns out to have a future, I will add these management thingys; in the meantime, there are already a lot of inputs.

Quote
as i understand, we have to check the trend ( sma value (0) / sma value (1) ) and not follow a spike in the wrong trend. Maybe the linear regression included does the job but probably too late.
I am not sure what you mean here. Can you clarify this, please?

Cheers

Hi all,
Just a note to say thanks, first to Scoobs and Steve, second to all that are contributing to the knowledge of the thread, too many people and so much good information.

Best wishes to all and keep the pips coming
http://www.mataf.net/en/tools/correlation

Here is a site

plus I've attched a file you can load more than one pair on the screen
play with the setting to get what you want
Attached File(s)
File Type: mq4 OverLayChartLINE.mq4   12 KB | 318 downloads
I've decided to trade Scoob's Dog's Bollocks and TCF methods manually, I've attached a multi-time frame RSI indicator that will be useful if anyone else opts to trade manually.

In the image attached on EUR/CHF, two time frames (4hr and 1hr) are both showing that the market may be overbought as it has crossed above 70 (TCF method), so I'd enter a short here selling 0.1 lots. When both the 4hr and 1hr cross 80, 0.2 lots and when both the 4hr and 1hr cross 90, 0.3 lots.

If all three time frames were showing overbought (over 70) and if price was below 200sma on the 4hr chart I'd have entered using the Dog's Bollocks method.

My question is that you might get conflicting signals from both the Dog's Bollocks and TCF methods, so how how would you prioritize?
Attached Image (click to enlarge)
Click to Enlarge Name: Dog's Bollocks and TCF trading manually.jpg Size: 120 KB
Attached File(s)
File Type: mq4 #MTF_RSI.mq4   4 KB | 278 downloads
mrkam & dryclean:

Thanks for the correlation tools. Will give them a shot.

saintmo
Quoting Jaula
I've decided to trade Scoob's Dog's Bollocks and TCF methods manually, I've attached a multi-time frame RSI indicator that will be useful if anyone else opts to trade manually.

In the image attached on EUR/CHF, two time frames (4hr and 1hr) are both showing that the market may be overbought as it has crossed above 70 (TCF method), so I'd enter a short here selling 0.1 lots. When both the 4hr and 1hr cross 80, 0.2 lots and when both the 4hr and 1hr cross 90, 0.3 lots.

If all three time frames were showing overbought (over 70) and if price was below...
i think rsi must be set by 2 period...
Scooby, thanks for your contribution of this robot. I backtested the EA, and it agreed with your 2009 results, the account nearly doubled.

When I backtest the EA from 2005 on the daily EUR/USD, however, the robot loses 90% of the account.

My question, can we possibly add another indicator that suggests a good time to employ such a strategy? Something to filter out the fakeouts?

Thanks again.
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