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CICR system (Currency index cross referencing)

  • #441
  • Oct 13, 2011 12:10pm Oct 13, 2011 12:10pm
Hi everyone,

Thanks very much for starting this thread capito, and thanks for all your contributions guys.

So, I am hoping to get a few clarifications on the way you guys are scalping with this. Do you first wait for the particular index to have all the same color arrows with all green numbers, and then wait for the same thing on a particular pair?

Example: GBPLFX goes all red arrows and all green numbers. Then I wait for a GBP--- pair to do the same thing and look for trend confirmation with 30min MACD or similar indicator? is this correct? or do you just look for the index to be lined up and then just pic the best pair to trade based on 30 min MACD/other indicators?

Also, do you wait for the 1hr/4hr/daily candle closes? or does the close not matter?

Thank you very much for your time!

-f4e-
  • #442
  • Oct 13, 2011 12:11pm Oct 13, 2011 12:11pm
Quoting dragosd1
Didn't you noticed? When above 70 or below 30, RSI values below arrows turns green. Green means good to go...area between 30 and 70 is taken as no man's land...
LOL! No I didn't. Thanks, buddy. Too many flashing colored lights for my petrified brain.
  • #443
  • Oct 13, 2011 12:12pm Oct 13, 2011 12:12pm
Quoting Pinhead
LOL! No I didn't. Thanks, buddy. Too many flashing colored lights for my petrified brain.
Hahaha, it's ok, I miss a lot of other things, lol.
I don't say
  • #444
  • Oct 13, 2011 9:04pm Oct 13, 2011 9:04pm
Thanks Pardy,
anymeeting can have almost 200 invites for a online webinar.

Will keep one ASAP. Unfortunately 200 viewers only
  • #445
  • Oct 13, 2011 9:26pm Oct 13, 2011 9:26pm
Hi Capito, first thanks for sharing your system and thanks to all other members contributing.

I just finished reading the whole thread, looking forward to start my demo. I have some questions.

In some charts you post I saw Heiken Ashi and in some other don't, do you still use it?

Right now I got GBPLFX all arrows down, however on Daily and 4hour the RSI 3 is not coming down from above 70. I would like to know if this is only important on the Daily, or if it can be ignored if I have MACD and Filter Line signals on 4hour? (not the case right now).

Sorry if get a little confuse but I read the whole thread today so I can't process so much information, also was confused with the indis and templates at first, but that is already solved lol. Thanks.
  • #446
  • Oct 13, 2011 9:37pm Oct 13, 2011 9:37pm
Quoting josfx
Hi Capito, first thanks for sharing your system and thanks to all other members contributing.

I just finished reading the whole thread, looking forward to start my demo. I have some questions.

In some charts you post I saw Heiken Ashi and in some other don't, do you still use it?

Right now I got [color=black][font=Verdana]GBPLFX all arrows down, however on Daily and 4hour the RSI 3 is not coming down from above 70. I would like to know if this is only important on the Daily, or if it can be ignored if I have MACD and Filter Line signals...
If you are trying to scalp lets wait for leekaq;s final system , he will post it soon.
If you are trading trends like me then honestly if you are tracking daily rsi then doesnt matter whether you use Heikenashi or normal .
Since you are in a trend you will get into a profit.

Look at the GBPlfx. The actual entry was on 5th oct when the ri 3 came from above 70 and started goin down now when that was happening the w1,mn was also angling down, now that a valid trend entry for me. As of now GBP lfx is just tottering between 50 and 30 and i dont think its going anywhere atleast if you are looking for trends

Go look at the AUDlfx daily rsi. 5th october is when the 3rsi started to push up and when it was moving above the 30, the w1,mn also started to change direction and arrows lined. So again 5th oct was a trend trading entry and see how clean it has moved, perfect trend on audusd,audjpy many more.

Now if you look at the audlfx its way above the 70 basically no mans land.

So from this point i will see if i get oppurtunties to sell.
That is provided the audlfx crosses 70 from above and you have the w1,mn is same direction.

Now imagine this if the daily rsi of the audlfx does go below the 70 today and the w1 also starts to go down then its a good way to get some quick pip gains,
However if the w1,mn both go down then you can say its a good correction trend.
The idea to enter at a place where you know that you can remain in the trade longer.
  • #447
  • Oct 13, 2011 9:56pm Oct 13, 2011 9:56pm
Thanks for your anser Capito. Yes GBPLFX doesn't do like doing anything right now, RSI D1 W1 and MN all in the middle. Too bad I get at the middle of the month to this thread. Anyway looking forward to the next start of the month or if any setups come in this month.

I personally don't like scalping but I will definately give a try to leekaq's system when it's complete.

I forgot to ask one question. About pivots, do you use them for entry/exit? And on what charts, lfx or the pairs traded.
  • #448
  • Oct 13, 2011 9:57pm Oct 13, 2011 9:57pm
Quoting josfx
Hi Capito, first thanks for sharing your system and thanks to all other members contributing.

I just finished reading the whole thread, looking forward to start my demo. I have some questions.

In some charts you post I saw Heiken Ashi and in some other don't, do you still use it?

Right now I got [color=black][font=Verdana]GBPLFX all arrows down, however on Daily and 4hour the RSI 3 is not coming down from above 70. I would like to know if this is only important on the Daily, or if it can be ignored if I have MACD and Filter Line signals...
Look at image over and over again then go and start back testing how monthly candles work and how to catch them early.
You will get it dont worry.
Attached Image (click to enlarge)
Click to Enlarge Name: example.png Size: 30 KB
  • #449
  • Oct 13, 2011 10:21pm Oct 13, 2011 10:21pm
Quoting josfx
Thanks for your anser Capito. Yes GBPLFX doesn't do like doing anything right now, RSI D1 W1 and MN all in the middle. Too bad I get at the middle of the month to this thread. Anyway looking forward to the next start of the month or if any setups come in this month.

I personally don't like scalping but I will definately give a try to leekaq's system when it's complete.

I forgot to ask one question. About pivots, do you use them for entry/exit? And on what charts, lfx or the pairs traded.
Pivots are like confirmatory tools. Only to see where price indeed gets supply and demand nothing more.
The method i use is good enough for price to break the nearest or Best S/R levels.

Also if you are a beginning trader then demo trade atleast a couple of months.

back test and see how pips you could have generated in the past 3 months, 6 months and a year. Just rough calculations is enough.
do that by finding out which were the best monthly bearish or bullish candles for individual indexes and then go into the daily rsi of that month and see how it behaves the same way over and over again.

Cheers!!!
Capito
  • #450
  • Oct 13, 2011 10:26pm Oct 13, 2011 10:26pm
Quoting capito
Look at image over and over again then go and start back testing how monthly candles work and how to catch them early.
You will get it dont worry.
Thank you for your time, that is an excellent example. Do you pay much attention on S/R on LFX charts? Just scrolling back on D1 AUD chart I saw that level was rejected for the third time this year, RSI coming up from below 30 in those 3 times. Also scrolling back it looks like an important S/R level. Just a thought, what do you think?
Attached Image (click to enlarge)
Click to Enlarge Name: audlfx.gif Size: 28 KB
  • #451
  • Oct 13, 2011 10:32pm Oct 13, 2011 10:32pm
Quoting josfx
Thank you for your time, that is an excellent example. Do you pay much attention on S/R on LFX charts? Just scrolling back on D1 AUD chart I saw that level was rejected for the third time this year, RSI coming up from below 30 in those 3 times. Also scrolling back it looks like an important S/R level. Just a thought, what do you think?
Thats it jos,,, u got it. thats a super example.

now go into the profile and check on those 3 circles that you have spotted which aud pairs gave you trades.

Its like a maze, you just have solve.

Its just that you have a different maze everytime but the way to solve is the same old way.
  • #452
  • Oct 13, 2011 11:11pm Oct 13, 2011 11:11pm
GM Cap, wht's ur bias 4 2day
  • #453
  • Oct 13, 2011 11:13pm Oct 13, 2011 11:13pm
Tq 4 putting me on buddy
  • #454
  • Oct 14, 2011 1:49am Oct 14, 2011 1:49am
Good morning Capito,

many thanks for the contributions you give all of us.
I am very impressed by this Thread.

Have a nice weekend!
  • #455
  • Oct 14, 2011 3:28am Oct 14, 2011 3:28am
One question:
i'm really trying to understand your method capito and since im not very successful in daily scalping i wonder if there is a way to "visual backtest" it.
If I could check LG RSI readings for a specific data back in history i could search for patterns and correlations in RSI LFX readings and see how they worked by the beggining of a couple of months back. Is it even possible?

Thanks for your help.
  • #456
  • Oct 14, 2011 6:41am Oct 14, 2011 6:41am
Quoting blazko
One question:
i'm really trying to understand your method capito and since im not very successful in daily scalping i wonder if there is a way to "visual backtest" it.
If I could check LG RSI readings for a specific data back in history i could search for patterns and correlations in RSI LFX readings and see how they worked by the beggining of a couple of months back. Is it even possible?

Thanks for your help.
hi blazko,

Oh trust me i am worse than you when it comes to scalping. Unfortunately you cant back test it with the indicator.
But the best way to back test it with help of monthly candles.
Just go into a monthly chart of any index of your choice and pick the best monthly bearish or bullish candle of your choice.
Then go into the daily chart for that month. use the periodic separator for better viewing. And see how the 3rsi reacted in that month.
how many times did the 3 rsi cross from above or below based on the monthly candle and see which day of the month you should entered the trend.
For example this month we had similiar formations in gbp so we got gbpaud,gbpnzd,gbpcad. We had it on nzd so we got nzdusd,nzdchf,nzdjpy, the best one happened to be the aud so we got audusd,audjpy,audchf,
Cad also gave similiar formation though didnt last long but gave us some good pip gains in usdcad and gbpcad.

Thanks
Capito
  • #457
  • Oct 14, 2011 6:43am Oct 14, 2011 6:43am
Quoting tebis
Good morning Capito,

many thanks for the contributions you give all of us.
I am very impressed by this Thread.

Have a nice weekend!
Thanks tebis. happy pippin
  • #458
  • Oct 14, 2011 6:49am Oct 14, 2011 6:49am
Quoting capito
hi blazko,

Oh trust me i am worse than you when it comes to scalping. Unfortunately you cant back test it with the indicator.
But the best way to back test it with help of monthly candles.
Just go into a monthly chart of any index of your choice and pick the best monthly bearish or bullish candle of your choice.
Then go into the daily chart for that month. use the periodic separator for better viewing. And see how the 3rsi reacted in that month.
how many times did the 3 rsi cross from above or below based on the monthly candle and see which...
But isnt it the other way around?

What happened on the daily TF caused the monthly candle? We can only look 'back' at the monthly candle.
  • #459
  • Oct 14, 2011 7:02am Oct 14, 2011 7:02am
Quoting piptastic7
But isnt it the other way around?

What happened on the daily TF caused the monthly candle? We can only look 'back' at the monthly candle.
see post 448 for example
thanks
  • #460
  • Oct 14, 2011 7:07am Oct 14, 2011 7:07am
Quoting capito
see post 448 for example
thanks
thanks,

And on which time frame do you really wait for the price to break through the 14EAM / Filter line?

Does it also have to break on the timeframe for the individual pair or just the index?
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