FF is strangely quiet at the moment.... and now I know why: Steve "The Coding Machine" Hopwood is out of town.
We miss you, Steve
We miss you, Steve
Hanover: an auto-trader using Recent Strength
- #22
- Oct 13, 2011 3:50pm Oct 13, 2011 3:50pm
FF is strangely quiet at the moment.... and now I know why: Steve "The Coding Machine" Hopwood is out of town.
We miss you, Steve
I have noticed a distinct decline recently in quality and in numbers.
Has everyone been burnt or has everyone made money?
hmmm?
- #26
- Edited 6:15pm Oct 13, 2011 5:54pm | Edited 6:15pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I forgot to take my meds with me, so my occd is itching like mad, so the 15 ea's I have coded since returning are.................
I do not properly understand how to extract values from the output file generated by Recent Strength. Once I do so, I can make H a much more flexible bot.
I do not properly understand how to extract values from the output file generated by Recent Strength. Once I do so, I can make H a much more flexible bot.
I forgot to take my meds with me, so my occd is itching like mad, so the 15 ea's I have coded since returning are.................
I do not properly understand how to extract values from the output file generated by Recent Strength. Once I do so, I can make H a much more flexible bot.
You probably remember I incorporated his S/R indicator into one of your early EA's (AshFX).
Just drop him a line, and I am sure he will reply.
Best of luck
- #30
- Oct 14, 2011 5:46pm Oct 14, 2011 5:46pm
- Joined Sep 2006 | Status: ... | 8,113 Posts
I do not properly understand how to extract values from the output file generated by Recent Strength. Once I do so, I can make H a much more flexible bot.
I've had a quick look at your EA and I see you've copied the function LoadRSvalues() from another one of my indys. Good idea, will save you some coding.
What I suggest you also do is include something like the following near the top of your EA:
Inserted Code
#define _AUD 0 #define _CAD 1 #define _CHF 2 #define _EUR 3 #define _GBP 4 #define _JPY 5 #define _NZD 6 #define _USD 7 #define _M1 0 #define _M5 1 #define _M15 2 #define _M30 3 #define _H1 4 #define _H4 5 #define _D1 6 #define _W1 7 #define _MN 8
If we use RSvalue[i][j][k], then
i = the currency
j = the timeframe
k = the datapoint#. Point #0 is rightmost point on the RS plot; point #1 is the second point from the right; point #2 is the third point from the right; and so on, up to the number of points being output (set by the NumPoints parameter in RS)
Hence, supposing you want to retrieve the value of the third datapoint for USD,H1, then (using the constants defined earlier) you could use the code:
double value = RSvalue[_USD][_H1][2];
The attached screenshot illustrates how the value relates to the RS plot.
Hope this makes sense.
David
- #31
- Oct 14, 2011 6:36pm Oct 14, 2011 6:36pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve,
I've had a quick look at your EA and I see you've copied the function LoadRSvalues() from another one of my indys. Good idea, will save you some coding.
What I suggest you also do is include something like the following near the top of your EA:
The LoadRSvalues()...Inserted Code#define _AUD 0 #define _CAD 1 #define _CHF 2 #define _EUR 3 #define _GBP 4 #define _JPY 5 #define _NZD 6 #define _USD 7 #define _M1 0 #define _M5 1 #define _M15 2 #define _M30 3 #define _H1 4 #define _H4 5 #define _D1 6 #define _W1 7 #define _MN 8
I was going to follow macman's advice and pm you this weekend. This is better, as we all have the benefit of your expertise.
Cheers. You are a star.
- #33
- Oct 15, 2011 1:03pm Oct 15, 2011 1:03pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve,
I've had a quick look at your EA and I see you've copied the function LoadRSvalues() from another one of my indys. Good idea, will save you some coding.
What I suggest you also do is include something like the following near the top of your EA:
The LoadRSvalues()...Inserted Code#define _AUD 0 #define _CAD 1 #define _CHF 2 #define _EUR 3 #define _GBP 4 #define _JPY 5 #define _NZD 6 #define _USD 7 #define _M1 0 #define _M5 1 #define _M15 2 #define _M30 3 #define _H1 4 #define _H4 5 #define _D1 6 #define _W1 7 #define _MN 8
Oh wow, the potential is huge. Thanks again David, on all our behalves.
Nothing will happen immediately folks. I need a bath first.
- #37
- Oct 15, 2011 5:40pm Oct 15, 2011 5:40pm
- Joined Sep 2006 | Status: ... | 8,113 Posts
I have just spent a happy half-hour playing with this.
Oh wow, the potential is huge. Thanks again David, on all our behalves.
Nothing will happen immediately folks. I need a bath first.
This is probably stating the obvious, but the strongest currency has the steepest upward slope, and the weakest has the steepest downward slope. If you want to obtain the slope (for example) of the last 10 hours of USD, then you could use something like:
double slopeUSD = RSvalue[_USD][_H1][0] - RSvalue[_USD][_H1][10];
i.e. the difference between the RS value now, and what it was 10 H1 candles ago.
____________________
@everybody:
A note about some of the advantages of using currency strength —
You may or may not be aware that the prices of currency pairs are noting more than ratios. For example, if I take GBP/USD and multiply it by USD/JPY the result will be GBP/JPY. Let’s test this using their current values, 1.58200 x 77.207 = 122.14109 (courtesy of Windows calculator) while GBPJPY = 122.142, which is a difference of 0.1 pip.
This means that if GBPUSD is in an uptrend, and USDJPY likewise, then I would have harvested more pips by trading GBPJPY instead of either of these majors. Of course we can’t trade in hindsight, but the assumption of ‘trading with the trend’ is that the current uptrends of each of GBPUSD and USDJPY will continue, and their constructive reinforcement means that GBPJPY must necessary trend upward even more so.
As Tom Yeomans says: "pairs don't trend, currencies do". If we plot relative currency strength on the longer term (daily, weekly) TFs, will that give us a technical proxy as to underlying national economic strength? Sure, as with all TA, it's going to be a lagging process, but offsetting that are the following benefits: (1) the technicals will confirm that sentiment agrees with the underlying economic rationale; (2) it removes the need to try to accurately weigh up the offsetting effects of a number of complex economic factors; (3) if these conditions have a more gradual, longer-term impact, then the disadvantaging effect of the 'lag' is reduced, in any case; (4) by trading the strongest currencies against the weakest, we can potentially double the likelihood of trend continuation, i.e. for the trend to reverse completely, the strong currency has to be come weak AND the weak one become strong.
Another advantage of strength is that it merely tells us which pairs to trade, without interfering with our favorite technical strategy. Hence, as Steve has pointed out, we can add a potential “edge” - and more importantly, a completely independent one - to an already profitable strategy.
As an example of using RS to determine which pairs to trade, look at the daily RS plot in the screenshot: AUD (green) is rising strongly, and both USD (white) and JPY (purple) are both falling strongly. Look at the strong, clean uptrend generated by pairing AUD and USD. Then look at the sideways, jagged plot created by pairing highly positive correlated currencies like USD and JPY.
Finally, if you want some more reading (
), there's an interesting article about the advantages of using currency strength here.OK, enough background info, this is Steve's thread, and I want to see how it progresses without undue influence from me. Hence I will make myself scarce.
David
- #38
- Oct 15, 2011 6:16pm Oct 15, 2011 6:16pm
- | Joined Nov 2009 | Status: Trader | 1,196 Posts
Steve,
This is probably stating the obvious, but the strongest currency has the steepest upward slope, and the weakest has the steepest downward slope... Look at the strong, clean uptrend generated by pairing AUD and USD. Then look at the sideways, jagged plot created by pairing highly positive correlated currencies like USD and JPY...OK, enough background info, this is Steve's thread, and I want to see how it progresses without undue influence from me. Hence I will make myself scarce.
David
Thanks very mcuh for your informative post. I think I speak for everyone (in particular STEVE) when I say we would love you to have as much influence as possible to the progress of this thread (as the creator of the recent strength indi). We are well aware that you are a full time programmer and as such the last thing you want to do when you get home and wish to chill out is to sit front of the screen and banging on the keyboard. So we gratefully accept what ever inforamtion you can provide. Speaking personally as a trader who prefers "RANGE" trading to trend trading, your indicator opens new possibilities for people like me. The only reason I prefer range to trend is because I always seem to enter trades at the end of the trend (something inspector Clouseau and I have in common in trading)
Kind regards
P.S. CAN YOU PLEASE LET US HAVE YOUR SETTING FOR THE RECENT STRENGTH. ALTHOUGH MY CHART SHOWS THE SAME INFORMATION BUT THE LINES ARE NOT AS SMOOTH AND CLEAR AS YOUR CHART
- #39
- Oct 15, 2011 8:09pm Oct 15, 2011 8:09pm
- Joined Sep 2006 | Status: ... | 8,113 Posts
CAN YOU PLEASE LET US HAVE YOUR SETTING FOR THE RECENT STRENGTH.
Inserted Code
TimeFrames = "M1, M5, M15, M30, H1, H4, D1, W1, MN"; NumPoints = 20; BasePoint = 0; HistoricalShift = 0; SmoothingSMA = 4; SetBaseCurrency = ""; UseTickvolForWgt = false; ShowPointCount = false; LegendValues = "-1A"; LegendVertSpacing = "3TL"; TextColor = Gray; TextFont = "Comic Sans MS"; TextSize = 13; RefreshEveryXMins = 1; OutputFile = "Output---Recent Strength.CSV"; ; ___Currency1___ = "AUD"; C1_Color = Green; C1_Style = 20; C1_Pairs_Wgts = "AUDCAD,100,AUDJPY,100,AUDNZD,100,AUDUSD,100,EURAUD,100,GBPAUD,100"; C1_ScaleFactor = 100; ; ___Currency2___ = "CAD"; C2_Color = SaddleBrown; C2_Style = 20; C2_Pairs_Wgts = "AUDCAD,100,CADCHF,100,CADJPY,100,EURCAD,100,GBPCAD,100,USDCAD,100"; C2_ScaleFactor = 100; ; ___Currency3___ = "CHF"; C3_Color = Yellow; C3_Style = 20; C3_Pairs_Wgts = "CADCHF,100,CHFJPY,100,EURCHF,100,GBPCHF,100,USDCHF,100"; C3_ScaleFactor = 100; ; ___Currency4___ = "EUR"; C4_Color = HotPink; C4_Style = 20; C4_Pairs_Wgts = "EURAUD,100,EURCAD,100,EURCHF,100,EURGBP,100,EURJPY,100,EURNZD,100,EURUSD,100"; C4_ScaleFactor = 100; ; ___Currency5___ = "GBP"; C5_Color = Crimson; C5_Style = 20; C5_Pairs_Wgts = "EURGBP,100,GBPAUD,100,GBPCAD,100,GBPCHF,100,GBPJPY,100,GBPUSD,100"; C5_ScaleFactor = 100; ; ___Currency6___ = "JPY"; C6_Color = DarkOrchid; C6_Style = 20; C6_Pairs_Wgts = "AUDJPY,100,CADJPY,100,CHFJPY,100,EURJPY,100,GBPJPY,100,NZDJPY,100,USDJPY,100"; C6_ScaleFactor = 100; ; ___Currency7___ = "NZD"; C7_Color = CornflowerBlue; C7_Style = 20; C7_Pairs_Wgts = "AUDNZD,100,EURNZD,100,NZDJPY,100,NZDUSD,100"; C7_ScaleFactor = 100; ; ___Currency8___ = "USD"; C8_Color = White; C8_Style = 20; C8_Pairs_Wgts = "AUDUSD,100,EURUSD,100,GBPUSD,100,NZDUSD,100,USDCAD,100,USDCHF,100,USDJPY,100"; C8_ScaleFactor = 100; ;
I also tinker with the Cx_ScaleFactor settings.
Note that the Cx_Pairs_Wgts should be set to the pairs that are offered by your brok... sorry, criminal (when in Rome
). The parameter file can have these set up automatically by running the Build Strength Preset File.MQ4 script (see previous link).I don't mind contributing from a programming standpoint but one reason I don't want to get involved too much to the "strategy" part the robot is that I have my own strategy for using RS (which I've explained many times, elsewhere), and I don't want the robot to become too exclusively a "hanover" creation. Instead, I'd like others to benefit by having their strategies improved by having a strength component added. For example, I tend to trade long term trends, while others might trade intraday ranges. I will write my own robot when I have managed to refine the discretionary elements in my approach down to some codeable rules.
David