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Can someone fix this currency strength indicator? 37 replies

Currency Strength Indicator 1 reply

Help with CC currency strength indicator 0 replies

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Currency Strength Indicator

  • #81
  • Jul 11, 2011 9:57am Jul 11, 2011 9:57am
Just out of curiosity, does anyone know how to add a zero line display to the line chart of this indicator? It is being used in the calculation so as to be able to show on the bar charts whether a currency is strong or weak (gained or lost over the last X periods), and it seems such a common sense thing to have displayed that I'm surprised I didn't request it when I had this built.

i.e above the zero line is strong, below the zero line is weak.

Any assistance would be greatly appreciated.
  • #82
  • Jul 11, 2011 10:25am Jul 11, 2011 10:25am
Me thinks that is going to be difficult. From a quick look at the code you are already using all the buffers and the lines I think are set relative to the meter bars (I may be wrong on this).

The lines also move up and down within the window depending on their min/max so it would not be possible to set the zero line in 1 fixed place (I may be wrong on this too!).

I am sure someone more intelligent that me will prove that it is relatively easy to do.

GL
If you think I'm mad, I must be mad
  • #83
  • Jul 11, 2011 10:59am Jul 11, 2011 10:59am
Yes I've thought the same kind of thing because there is no fixed maximum or minimum points.

However, the bar chart definitely must use a zero point in order to determine whether a bar is displayed as red or green. After all the zero point is literally the point at which a currency has neither gained nor lost a single fraction of a percent when compared to X periods ago. So I was thinking the same zero point would be possible on the line chart.

This is just a nice to have if a genius coder happens to float past with nothing better to do with their time and feels like offering a hand on this indicator. If not, the meter still gives enough information to help with trade decisions.
  • #84
  • Jul 11, 2011 11:28am Jul 11, 2011 11:28am
Try this and see if it is close to what you want ?

Add this code....


ObjectCreate("mLine",OBJ_TREND,gWindow,0,0);
ObjectSet("mLine",OBJPROP_PRICE1, 25);
ObjectSet("mLine",OBJPROP_PRICE2, 25);
ObjectSet("mLine",OBJPROP_TIME1, Time[LineChartBars]);
ObjectSet("mLine",OBJPROP_TIME2, Time[0]);
ObjectSet("mLine",OBJPROP_COLOR, Black);
ObjectSet("mLine",OBJPROP_WIDTH, 2);

in the 'void drawLines()' sub routine... just after 'drawLegend();'
but before the closing '}' of that sub routine.

Hope that makes sense.
If you think I'm mad, I must be mad
  • #85
  • Jul 11, 2011 11:36am Jul 11, 2011 11:36am
Thanks for the help, but I get the errors "gwin" and "dow" variables are not defined when I compile to check for errors.

Please don't worry too much about this as I don't want to put you or anyone else out. This zero line is just a nice extra if it's possible, but certainly not a big deal.
  • #86
  • Jul 11, 2011 11:42am Jul 11, 2011 11:42am
worked ok for me?

attached modded.
Attached File(s)
File Type: mq4 StrengthMeter.mq4   15 KB | 5,880 downloads
If you think I'm mad, I must be mad
  • #87
  • Jul 11, 2011 11:46am Jul 11, 2011 11:46am
should be no space between 'gwin' and 'dow'

ObjectCreate("mLine",OBJ_TREND,gWin dow,0,0);
ObjectCreate("mLine",OBJ_TREND,gWindow,0,0);
If you think I'm mad, I must be mad
  • #88
  • Jul 11, 2011 11:59am Jul 11, 2011 11:59am
Thanks for the help FutureSpec. I thought it worked until I turned off one of the currency lines, and the zero line shifted. I think you were right in your first assessment that this is not possible due to the way the indicator calculates and doesn't have any fixed min/max boundaries. Probably best to leave this alone before we create extra unnecessary work.

Thanks again.
  • #89
  • Jul 15, 2011 12:59am Jul 15, 2011 12:59am
level 50 = 100

level 25 = 50

level 0 = 0
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  • #90
  • Jul 16, 2011 5:33am Jul 16, 2011 5:33am
Hi.

StrengthMeter.mq4 is a great indicator. Is MT5 version of it indicator exists?
  • #91
  • Jul 18, 2011 7:09am Jul 18, 2011 7:09am
Hi flotsom,

I downloaded your new strength meter and I managed to get it to work this time. However, I think you got a bad deal with this one on the coding side. I set out to test this indicator, but I'm not able to report anything good or bad because it's just way too slow. Change the TF and the whole platform just freezes. It might be down to my laptop - it's two years old and only has two cores. Still, thanks for at least giving the opportunity to test it.
If you don't risk, you don't ever have to lose.
  • #92
  • Jul 20, 2011 8:31am Jul 20, 2011 8:31am
Quoting flotsom
Attached below is the new strength meter I had made which you may or may not find of some use. As before, please note I am not a coder in any way shape or form; I have merely paid a coder to make something as per my instructions.......so I can not make any modifications to this, but others are free to.

This strength meter measures the overall strength of a currency on a "percentage" basis when compared to the other major currencies, and it measures this on a tick by tick basis rather than using Moving Averages as is the case with the CC indicators...
Hi,

Thank you for sharing this fine tool with us.

Do you have any idea how I can use the iCustom indicator to extract is strengths, I am unable to get the iCustom indicator to give me the strengths?

Many Thanks
Andy
  • #93
  • Jul 21, 2011 3:37pm Jul 21, 2011 3:37pm
thanks for your awsome work on this indicator,
I like it a lot!
but do you think it would be possible to have it showing the pairs instead of lone currencys as an option?
I think it would serve great for hedging strategies.
thanks in advance.
Bulls are stupid Animals!especially when Im short!
  • #94
  • Aug 13, 2011 8:35am Aug 13, 2011 8:35am
Hi Bug,

Might be a silly question. What is the best way to use this indicator for intraday swing trading.
There is one way that has given me decent results. When a particular pair shows strength and weakness I check for ccfp roc readings for that pair on 1 hr and 4 hr is this is a good way. Thanks

Quoting bug
There are several versions of the CCFp indicator that have a ROC display slaved to the left corner of the indicator window. The original CCFp didn't have that display, but it was added after several members asked for it on this thread. The display shows you the difference between the last two CLOSED candles. It doesn't take the open candle into consideration. If you have any doubts about the validity of the figures on the display, simply open the Data Window and cross-confirm with...
  • #95
  • Aug 20, 2011 7:38am Aug 20, 2011 7:38am
[quote=flotsom;4766170]Attached below is the new strength meter I had made which you may or may not find of some use. As before, please note I am not a coder in any way shape or form; I have merely paid a coder to make something as per my instructions.......so I can not make any modifications to this, but others are free to.

Hi Flotsom, I just sign up with Forex Factory wanting to thank you privately but realise I must go through this thread instead. Your indicator works perfectly! I been doing manually to track the daily strength for months now using excel. My results show exactly the same as your indicator as I'm measuring in term of percentage wise too . Thanks a lot!!!!!
  • #96
  • Sep 13, 2011 2:58am Sep 13, 2011 2:58am
This is a great indicator - I trade on the daily charts and now on the 5 minute.
Consistent and accurate
Really appreciate your efforts
John
  • #97
  • Edited 10:08am Oct 15, 2011 8:58am | Edited 10:08am


Quoting bug
There are several versions of the CCFp indicator that have a ROC display slaved to the left corner of the indicator window. The original CCFp didn't have that display, but it was added after several members asked for it on this thread. The display shows you the difference between the last two CLOSED candles. It doesn't take the open candle into consideration. If you have any doubts about the validity of the figures on the display, simply open the Data Window and cross-confirm with...
Hello Bug,
Can you explain to me how you use this indicator?
I like the way it displays both the line and the numbers as well. But I noticed that the numbers and the lines some times dose not agree. Correct me if i am wrong. How do you interpret it?. which of the signal do you follow?
I Also notice that It dose not appear in H4 time frame, Do you have the version that works with H4 and D1 time frames?
Thanks for your reply.
  • #98
  • Edited 6:30am Oct 16, 2011 6:19am | Edited 6:30am
Quoting goldpips
Can you explain to me how you use this indicator? /.../ How do you interpret it?. which of the signal do you follow?
This question has already been answered on this very thread. See this.

Quoting goldpips
But I noticed that the numbers and the lines some times dose not agree. Correct me if i am wrong.
You are wrong. The numbers you see on the left measure the rate of change, not the absolute strength. If you had bothered to read my previous posts with focus you wouldn't be asking me that. I'm sorry for being so blunt but this is a very simple fact that you should already know. Go back and read all of my posts in this thread. With focus. You might also want to write down some of the important stuff so that you don't forget it and put yourself in a position where you ask simple questions that have already been answered.

Having done that, you should read the MT4 codebase articles (there are articles) on the CC family indicators and find all the threads on FF that mention this indicator. Last time I checked, Google was up and running so there shouldn't be a problem finding stuff.

Quoting goldpips
I Also notice that It dose not appear in H4 timeframe, Do you have the version that works with H4 and D1 time frames?
It works fine on my computer. I've used this and other CC family indicators with MT4 from various brokers and I haven't had any problems so far. I'm not a techie so I doubt there's much advice I can give you. Removing the indicator, clearing your history and reinstalling the indicator could work. That's what I would do. But again, I'm not a software expert.
If you don't risk, you don't ever have to lose.
  • #99
  • Oct 17, 2011 10:38am Oct 17, 2011 10:38am
Quoting bug
This question has already been answered on this very thread. See this.


You are wrong. The numbers you see on the left measure the rate of change, not the absolute strength. If you had bothered to read my previous posts with focus you wouldn't be asking me that. I'm sorry for being so blunt but this is a very simple fact that you should already know. Go back and read all of my posts in this thread. With focus. [b]You might also want to write down some of the...
Hi bug,
Thanks for your raw response. I guess I still have some home work to do. I will go through the thread again. Don't be offended if I come back with more questions.
Thanks once again.
  • #100
  • Oct 19, 2011 8:49am Oct 19, 2011 8:49am
Quoting goldpips
Hi bug,
Thanks for your raw response. I guess I still have some home work to do. I will go through the thread again. Don't be offended if I come back with more questions.
Thanks once again.
1. My response wasn't raw, it is what you should expect when someone asks a question that has already been answered.

2. I wasn't offended. The question is, were you? You hadn't read the thread thoroughly and were asking question that had already been answered, so if you were offended, you have some serious problems.
If you don't risk, you don't ever have to lose.
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