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BMI - MacD Magic Monster

  • #121
  • May 20, 2010 2:31am May 20, 2010 2:31am
A nice ride (confirmed by the 1H) on GJ
Using Fibo we can see good confluence with BMI and contemplate targets.

fun_demental
Attached Image (click to enlarge)
Click to Enlarge Name: GJ-5M.jpg Size: 80 KB
  • #122
  • May 20, 2010 5:32am May 20, 2010 5:32am
Quoting Fun Demental
I've been scalping with BMI in the last couple of days (E/U G/J) and it's been nothing but dissapointment. Win Win Win all the time LOL.

BlueMental - You mentioned earlier in the thread that you r using some kind of curencies strength indi. (I guess for confirmation) can you pls explain about what this is about ?

thanks for the great thread, pls keep it up
fundemental
yo.

I am glad to see you suffering with that terrible dissapointment.
As you might have seen, I am currently trading a micro account to confirm (to myself) that the Monster is a long term usable strategy before I go into trading larger sums of money with it.

LOL, yet what I did (as I so dumbly OFTEN do!!) was break one of my rules. That rule is "DO NOT COUNTERTREND TRADE!!!" So what I ended up in was what can best be described as Spaghetti trading.

This hedge helping counter that loss, while this counterhedge 'helps' the failed other hedge.

Instead of just cutting my losses as I KNOW I should have,

So The account balance before that fiasco, was $6.51.

After the Fiasco, it was $0.84 (Trashed!!!)
Then I realised, that NzdJpy might be in the running to open a trade with $0.84, so I checked the calculations/conversions and found it worked out.

0.01 lots = $0.80 Margin. So I had ample to spare, and the account Margin Call kicks in at 50%.

So I have now got (after 4 trades of small scalps, 12.6+1.7+22.2+21.4=57.9 pips gain bringing the balance up to $1.60
(that is 90.4% gain)

I do not know if I can build the account, but I am going to give it my best shot. If one can manage to build an account from $0.84 then I think one could safely say the Monster System works. (Still need to be done though)

So, Important reminder, do NOT get overconfidant (like I did) Obey your rules (whatever they are)

As far as the currencies strength indicator is concerned, I shall put it in it's own post.

BMI.
  • #123
  • May 20, 2010 5:57am May 20, 2010 5:57am
Hi Blue,

Enjoying the thread, a big thanks for starting it up. In Msg #42 you wrote ....

Quoting BlueMental
If you put a 5MA on H1, 5x60=300 so to duplicate the same MA on M15, 300/15 = 20 and on M5, 300/5 =60 and so on per each timeframe.
In reverse, M5 MA has 2584 (a fib number) so 5x2584/15 = 12920.
For the identical MA on M15, 12920/15=861. MA30 = 12920/30=430 etc.
Could you please clarify the values you use for scaling in differing time frames as I intend to use them in Amibroker. It would also be helpful if you listed which colours are used for each EMA period.
  • #124
  • May 20, 2010 6:58am May 20, 2010 6:58am
BlueMental

Just to say congrats on the 5 star thingy.

fun_demental
  • #125
  • May 21, 2010 6:26am May 21, 2010 6:26am
Quoting Fun Demental
A nice ride (confirmed by the 1H) on GJ
Using Fibo we can see good confluence with BMI and contemplate targets.

fun_demental
Hi Fun The Mental.

I think you might like this indicator.

BMI.
Attached File(s)
File Type: mq4 BMI_ZigZag001.mq4   12 KB | 1,021 downloads
  • #126
  • May 21, 2010 6:28am May 21, 2010 6:28am
Quoting Fun Demental
BlueMental

Just to say congrats on the 5 star thingy.

fun_demental
Ummm. I don't want to seem dumb, but what are you talking about?

BMI.
  • #127
  • May 21, 2010 6:40am May 21, 2010 6:40am
Quoting ergon
Hi Blue,

Enjoying the thread, a big thanks for starting it up. In Msg #42 you wrote ....



Could you please clarify the values you use for scaling in differing time frames as I intend to use them in Amibroker. It would also be helpful if you listed which colours are used for each EMA period.
The clarification is in the math of my text you quoted.

If you put a MA1 (meaning it is the moving average of 1 Bar) on the H1 chart, to get the same on the M30 chart, you have to multiply the MA by 2.

There are 2 bars per hour in the M30 chart, while the H1 chart has 1 bar per hour. So to duplicate the same MA, you need to spread the MA to use 2 Bars in the M30 chart (because 2 of those bars = 1 H1 (1 hour) bar.

In the M15 chart, there are 4 Bars per hour, so MA1 (from the H1 chart) = MA4 (15 minutes x 4 = 1 hour) on the M15 chart.

M5 has 12 Bars per Hour (60 minutes / 5 = 12 or another math trick when dividing by 5 is 60*2/10 = 120/10 = 12)
So to get the H1 (1 bar per hour MA on the M5 chart, you need your MA to cover 12 of the M5 bars.)

M1 = MA60.... (How many minutes in an hour?)

To do it in reverse.....

A MA1200 in the M1 chart on the H1 chart = 1200 minutes / 60 minutes = 20 hours. So to get a MA1200 (from the M1 chart to be represented on the H1 chart, you use a MA20 on the H1 chart.

I can not explain it any better than that.

Go on to your MT4 charts and do and see. We only learn by doing.

BMI.
  • #128
  • May 21, 2010 6:51am May 21, 2010 6:51am
Quoting BlueMental
So I have now got (after 4 trades of small scalps, 12.6+1.7+22.2+21.4=57.9 pips gain bringing the balance up to $1.60
(that is 90.4% gain)

BMI.
A continuation of the micro account 'progress' LOL, I weas doing really well, I got the Equity up to $2.72, and I was in a sell trade which went the wrong way. While I was deciding if I should cut my losses or hedge the Sell, My connection to the broker started acting up. (It was lagging at first then disconnecting.

By the time I managed to sort it out, My sell trade was at some high -pip figure (can't recall exactly now, but it was somewhere around -60 pips. Meaning my margin% was EXTREMELY low)

So I tried to hedge it and sort it out. While doing that, I was sort of succeeding ( I had manged to get the Equity which had dropped to $0.56) up to around $1.12.

The connection was giving me hell all the time though.
Here is a small piece cut and pasted from the log file.
18:37:26 '505189': login
18:43:55 '505189': login
18:57:20 '505189': login
18:58:21 '505189': login
19:00:31 '505189': login
19:04:19 '505189': login
19:05:04 '505189': login
19:05:17 '505189': connect failed [No connection]
19:07:36 '505189': login
19:10:49 '505189': login
19:12:21 '505189': ping failed
19:12:41 '505189': login
19:14:21 '505189': login
19:17:47 '505189': login

Needless to say, it was not exactly going in my favour, and the account is now truly trashed.

So, what did I learn from this?
I use internal SL's, so from now on My primary Rule Number 1 as eclayf states in The Dance. Is imediately place a 'hard Stop Loss' on the server.

BMI.
  • #129
  • Edited 7:16am May 21, 2010 7:04am | Edited 7:16am
Quoting BlueMental
Int the picture GbpJpy H4, you can see that the pattern formation is a downtrending Bounce Pattern.

http://img225.imageshack.us/img225/9...yh4bounced.png

Lots of Blah blah about stuff deleted (read the original post for the details)
The pattern did not follow the prediction. as you can see in the following picture.

http://img29.imageshack.us/img29/950...yh4bounced.png

Why I say it didn't follow the pattern is because although the price did reach the 134.500 level of the Last white curve, it appeared to me that there would be a drop follwed by two further bounces. Meaning I did not enter a short trade there, waiting for the HigherHigh.

However. It also DID follow the pattern, as you can see in the following picture.

http://img535.imageshack.us/img535/9...yh4bounced.png

A good entry for a short would be the three bars that touch but fail to break above Coral. That brings in a measely 500 pip trade.

BMI.
  • #130
  • May 21, 2010 7:29am May 21, 2010 7:29am
Now the template uploading. I have not forgotten it at all, I have not posted it yet because I need to make a few changes to the 'Engine' so it can be used on any broker's Mt4, then I can upload it at the same time.

Be patient... It will happen.

BMI.
  • #131
  • May 21, 2010 7:53am May 21, 2010 7:53am
Quoting BlueMental
Now the template uploading. I have not forgotten it at all, I have not posted it yet because I need to make a few changes to the 'Engine' so it can be used on any broker's Mt4, then I can upload it at the same time.

Be patient... It will happen.

BMI.
I have been using your BMI engine over the paste 24 hrs. Really appreciate the work and tools you have incorporated in the version you posted on The Dance thread. Like I said, patiently waiting in anxious anticipation.

As for me I will be spending some time with an MT4 simulator to get to a more consistent place.


Have a great weekend,

RD
  • #132
  • May 21, 2010 12:39pm May 21, 2010 12:39pm
Quoting rdwatkins
I have been using your BMI engine over the paste 24 hrs. Really appreciate the work and tools you have incorporated in the version you posted on The Dance thread. Like I said, patiently waiting in anxious anticipation.

As for me I will be spending some time with an MT4 simulator to get to a more consistent place.


Have a great weekend,

RD
I have decided not to post templates and Profiles, because it is a huge job, which I am not going to do.
So download all the indicators and put them on your charts where they suit you.
I can not go to the toilet for you.

However, here is the updated TickMonster. It now gets the MA's sorted out faster. And The minutes are shown as Dots instead of lines (clearer to see what is going on).
The longer term MA's follow the tick price until there is enough of them for the MA to calculated, which is when they go to where they should be.
BMI.
Attached File(s)
File Type: mq4 TickMonster_Arrows2.mq4   7 KB | 1,028 downloads
  • #133
  • May 22, 2010 5:58am May 22, 2010 5:58am
Here is the latest version of the BMI_Engine.

Updates include:-

Now calculates available lots 100% accurately.
Added limit filters of server minimum and maximum Lots permited.
If you try to place and order for more than Server MaxLots, it will place the MaxLots lot value, while the Server MinLots limits your lot size to the Server MinLots value.

Fixed the SL failiure that had a 10 pip SL close at 10 +spread.

As far as I am aware, it should now run on all the various Brokers MT4 versions available, but if you find that it gives hassles with your borkers version, just PM me with the details of which Broker Software you are using, and a description of what you did that caused the problem. It should also run on all the various Brokers MT4's for Backtesting.

I have not yet tested it on the MBT - MT4 software (which is somewhat different than the standard MT4's as it is set for ECN and has various of the standard MT4 limits removed) but it should run on that one too.

BMI.
Attached File(s)
File Type: mq4 BMI_Engine.mq4   30 KB | 1,016 downloads
  • #134
  • Edited 7:08am May 22, 2010 6:39am | Edited 7:08am
If you want to find out a bit more of the Currency Trend Indicator elsewhere on the web, check out this site, where you can buy A professional version of the indicator (Together with the System on how best to use it for profitable trading):-
http://accustrength.com/

OR
You can download it for free right here right now. (An MQ4 indicator version, not the accustrength software)

http://img20.imageshack.us/img20/150...cystrength.png

The data on this indicator updates in real time, so patience is needed to see the graphs form. It is most useful on the M5 chart, and it calculates the individual strengths of the 8 currencies relative to the days high and low. This means that the data are very biased at the beginning of a new day. After about 6 hours, it is more 'settled in'. (I will one day get around to actually sorting it out to avoid that issue, but it involves quite a lot of codeing, and right now I haven't got the time.)

The values displayed on the indicator are the percentage strengths of each currency. So if JPY has a high percentage (80%) and NZD has a low percentage (15%) the graph shows JPY in the upper regions, while NZD is in the lower regions. Once they begin to curve towards each other, (JPY drops, NZD Climbs) then going long on NzdJpy is the order of the day.

No, I can hear your thought. These percentage values are not PAIR strengths. They are the strength of the Single currency itself.

In the Properties of the indicator, You can use up to 40 pairs to calculate the strength of the 8 single currencies.

If you are ok with math, check the code to see how it is calculated. If you are not ok with math, don't ask me how it is calculated, because it will take to much mission to explain.

Also, do not ask for details on how to use this indicator, because that in itself would be a separate system thread. Yes it can be used together with the Monster, or any other system for that matter, but there are several places you can find info on currency strengths.

Google. Henry Liu(Offers a free .exe version that displays the value's but no graph), Currency Strength, Tom Yeoman (there is still the original free stuff Tom Yeoman distributed as an excel file sneaking around the net.(and mq4 idicators that used the excel files math.)

No, my indicator doesn't use or copy any of Tom Yeomans original work, it was all done from scratch, since I did observe the original calculations that Yeoman used, but it was a very complex way of doing simple math and rounded off values so the data was 'approximately' right. Hence it was far simpler to just write my own version.

BMI

I have only tested this indicator on 2 different broker MT4's, but it should work on all of them.
Attached File(s)
File Type: mq4 BMI_Currency_Strength_2.mq4   132 KB | 1,074 downloads
  • #135
  • May 22, 2010 7:00am May 22, 2010 7:00am
Quoting BlueMental
Ummm. I don't want to seem dumb, but what are you talking about?

BMI.
Duh! me idiot!

I finally saw the stars you were talking about (top right of the screen with the 4 yellow/gold stars)

BMI
  • #136
  • May 22, 2010 8:13am May 22, 2010 8:13am
very interesting job, thanks a lot
  • #137
  • May 23, 2010 7:13am May 23, 2010 7:13am
Ok, I spent some time on setting it up to load up the graphs on history data. Also it now has a settable back period that trails as time continues.

The indicator is currently set to 24 hours back and it uses the M5 period.

The Currency Strength Graph is totally independant of the Chart it is used in. The only time you will see the graph alter is if your history of the pairs used in the indicator need updating.

In other words to test if you are getting a true graph, change the charts Time period. If the graph remains the same, then you are getting true data. If it changes, You can wait a while for MT4 to download the data itself, or you can (if you are impatient) go through all the pairs used in the indicator on the same time period you have set, or alternatively you can download the data in the Tools/History option on MT4.

Here are 2 pictures to give you an idea. Experiment with the different timeframes. If both USD and GBP are going down at the same time, check the GgpUsd chart, do the same when they are opposite (1 up one down).

This indicator (not like the first one) you can change any of the settings, or the chart timeframe or symbol. The graph remains.

http://img576.imageshack.us/img576/2186/strength1.png

http://img245.imageshack.us/img245/1967/strength2.png


As you can see, GBP is 74, while JPY is 24, what happens when Gbp starts dropping if Jpy climbs at the same time?
Check the Exotic Pairs Post and download the excell file to see what it means.

BMI
  • #138
  • May 23, 2010 8:33am May 23, 2010 8:33am
“The fox and the cat were standing on a hill, talking about how many ways they knew of escaping from a pack of dogs. The cat, feeling rather inadequate, said, ‘I only know one way. I run up the nearest tree’. The fox gave the cat a sardonic smile and said, ‘Well, actually, I know fifty different ways of escaping a pack of dogs.’ As they spoke a pack of dogs appeared on the horizon and ran in the direction of the fox and the cat. The cat, utilising his only escape technique, found sanctuary up a nearby tree. Whilst the fox was busy deciding which of the fifty escape techniques he should employ, he got eaten by the pack of dogs.”

It does not help in trading to know 587 different ways of making a consistent profit.

It does help a great deal to know one method.

BMI.
  • #139
  • May 23, 2010 3:26pm May 23, 2010 3:26pm
Quoting BlueMental
The clarification is in the math of my text you quoted.

If you put a MA1 (meaning it is the moving average of 1 Bar) on the H1 chart, to get the same on the M30 chart, you have to multiply the MA by 2.

There are 2 bars per hour in the M30 chart, while the H1 chart has 1 bar per hour. So to duplicate the same MA, you need to spread the MA to use 2 Bars in the M30 chart (because 2 of those bars = 1 H1 (1 hour) bar.

In the M15 chart, there are 4 Bars per hour, so MA1 (from the H1 chart) = MA4 (15 minutes x 4 = 1 hour) on the M15 chart.

M5 has 12...
Hi Blue,

Thank you for the detailed explanation. I really appreciate the response. With that info I've now created the code for Amibroker. So I should be able to follow any chart postings in my Amibroker charting software and generally follow this thread.

I am now looking forward to studying more charts and comments from you. Thanks again.
  • #140
  • May 24, 2010 6:24am May 24, 2010 6:24am
Quoting BlueMental
Hi Fun The Mental.

I think you might like this indicator.

BMI.
That is a nice piece of code and indi Blue.

Thanks for sharing!

fun_demental
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