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Trading profitably using Recent Strength 58 replies

Hanover - can you help me with MT4 qs please? 4 replies

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Hanover: an auto-trader using Recent Strength

  • #41
  • Oct 16, 2011 3:02am Oct 16, 2011 3:02am
an idea to play with, is to hedge the storng and the weak with currency of news ahead. we all know how volatile the market becomes when news released. taking us out and flip again. the assumption is that the weaker currency will weaken more than the stronger in case the news were for the base currency and on the contrary.
for illustration- eur news ahead. gbp is weak aud is strong.
sell euraud, buy eurgbp ( if both are not in over sold/bought condition.)
  • #42
  • Oct 16, 2011 5:23am Oct 16, 2011 5:23am
Quoting hanover
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
We would prefer the un-scarce David. Thanks for all this.

Cheers.

  • #43
  • Oct 16, 2011 5:28am Oct 16, 2011 5:28am
Quoting dvirma
for illustration- eur news ahead. gbp is weak aud is strong. sell euraud, buy eurgbp ( if both are not in over sold/bought condition.)
Interesting idea........ I assume you're trying to capitalize on EUR based news by trading EUR based currencies. But, given the ratios that must be maintained (see my comment in post #37), then isn't buying EURGBP and selling EURAUD the same as merely (doubly) selling GBPAUD?

i.e. EUR/GBP x AUD/EUR = AUD/GBP

Even if that's correct, I suspect that the idea of pairing strong against weak around a news event would nonetheless be worthy of further research.
  • #44
  • Oct 16, 2011 6:25am Oct 16, 2011 6:25am
Quoting hanover
I will write my own robot when I have managed to refine the discretionary elements in my approach down to some codeable rules.
This is the most sensible statement I have read on Forex Factory in a long time!
  • #45
  • Oct 16, 2011 1:44pm Oct 16, 2011 1:44pm
Quoting SteveHopwood
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.

Have you updated the OP with the new version yet?
  • #46
  • Oct 16, 2011 4:38pm Oct 16, 2011 4:38pm
Quoting wickedwin
Have you updated the OP with the new version yet?
If I had done so, I would have said so. Do not confuse me with the more patient contributors at FF. I am not one of them. Continue to ask stupid questions and I will remove you ability to ask them.
  • #47
  • Oct 17, 2011 7:15am Oct 17, 2011 7:15am
I was thinking about the output and have a script that dumps the csv into mysql.

I like the idea of comparing different timeframes of datapoints

double slopeUSD = RSvalue[_USD][_H1][0] - RSvalue[_USD][_H1][10];

or H4

vs

double slopeUSD = RSvalue[_USD][_M15][0] - RSvalue[_USD][_M15][10];

can pick up changes in short term and possible areas for a pullback entry.
The trend is your friend as they say...

introducing thresholds of % change might be interesting - hence a db to collect some data on this. Say if slope is X%....alerts kick in or the EA is allowed to trade that pair.

you can see not just USD relative to other currencies but you can see if USD has a spurt under its own steam by analysing

double slopeUSD = RSvalue[_USD][_H1][1] - RSvalue[_USD][_H1][10]; (11 periods)
compared to
double slopeUSD = RSvalue[_USD][_H1][11] - RSvalue[_USD][_H1][20]; (11 periods)

a myriad of options and im babbling crap - probably all the same thing.
  • #48
  • Oct 17, 2011 3:34pm Oct 17, 2011 3:34pm
This is just a first impression of Hanover's recent strength indicator. I'm finding it much more accurate than the Kang Gun indis and the FerruFx indi. If you pick the strongest and weakest currency on say the H4 and look to see where the lines begin to curve down and up it's amazing to check the same point in time on the H4 chart and see how the currency began a downturn or upturn. I also played with scalping the M5 signals and that's fun too. I've always like relative strength indicators but this recent strength approach by Hanover is really an advance. The fact that Steve is doing an EA based on this data is REALLY exciting Trading is all about getting an edge and I think these signals could be a huge edge.
  • #49
  • Edited 4:56pm Oct 17, 2011 4:09pm | Edited 4:56pm
Just to let everyone know, I am thinking about all this. I am a little quiet at the mo because I am a bit busy.

David has shown me how to extract values from the csv file, so here is what is coming up:

 

  1. H will read all the values created by the Recent Strength indi. What these are will depend on how the user uses RS.
  2. There will be a time-frame input allowing multiple timeframes as in the RS indi - TimeFrames = M1, M15, D1 etc
  3. When all the timeframes line up with the same currencies showing strength and weakness at the extremes, H will send a trade.

From this will flow a module that can be added to all my/our trading robots.

This is all complicated for an amateur coder such as myself, and requires several baths to be equally productive. Nothing much is likely to happen this week, but when it does the results should be exciting.

  • #50
  • Oct 17, 2011 4:22pm Oct 17, 2011 4:22pm
Quoting SteveHopwood
Just to let everyone know, I am thinking about all this. I am a little quiet at the mo because I am a bit busy.

David has shown me how to extract values from the csv file, so here is what is coming up:
[list][*]H will read all the values created by the Recent Strength indi. What these are will depend on how the user uses RS.[*]There will be a time-frame input allowing multiple timeframes as in the RS indi - TimeFrames = M1, M15, D1 etc[*]When all the timeframes line up with the same currencies showing strength and weakness at the extremes,...
Please advise your postal address. I'd like to send a bulk shipment of Radox.
  • #51
  • Oct 17, 2011 4:55pm Oct 17, 2011 4:55pm
Quoting Swg123
Please advise your postal address. I'd like to send a bulk shipment of Radox.


That would be counter-productive. I need to think in the bath, not sleep.
  • #52
  • Oct 18, 2011 7:27am Oct 18, 2011 7:27am
Quoting SteveHopwood
Just to let everyone know, I am thinking about all this. I am a little quiet at the mo because I am a bit busy.

David has shown me how to extract values from the csv file, so here is what is coming up:
[list][*]H will read all the values created by the Recent Strength indi. What these are will depend on how the user uses RS.[*]There will be a time-frame input allowing multiple timeframes as in the RS indi - TimeFrames = M1, M15, D1 etc[*]When all the timeframes line up with the same currencies showing strength and weakness at the extremes,...
look forward to it and good luck.
  • #53
  • Oct 19, 2011 11:47am Oct 19, 2011 11:47am
A few baths later, multi-tf Hanover has arrived. Details in post 1.

  • #54
  • Oct 19, 2011 11:53am Oct 19, 2011 11:53am
Quoting SteveHopwood
A few baths later, multi-tf Hanover has arrived. Details in post 1.

Thanks very much, it is fantastic. I very much like the fact that the time frames are user selectable.
Kind regards
  • #55
  • Oct 19, 2011 12:47pm Oct 19, 2011 12:47pm
Quoting SteveHopwood
A few baths later, multi-tf Hanover has arrived. Details in post 1.

Wow.
  • #56
  • Oct 19, 2011 12:57pm Oct 19, 2011 12:57pm
Quoting SteveHopwood


That would be counter-productive. I need to think in the bath, not sleep.
Thank goodness I held back on the potential sedative.
  • #57
  • Oct 20, 2011 5:00am Oct 20, 2011 5:00am
At the risk of incurring Steves wrath, has anybody had any trades with H yet ?

I've spent hours following all the instructions but all to no avail.

My screen display is attached which might help.
Attached Image (click to enlarge)
Click to Enlarge Name: hanover.gif Size: 26 KB
  • #58
  • Oct 20, 2011 5:14am Oct 20, 2011 5:14am
Quoting Rascacio
At the risk of incurring Steves wrath, has anybody had any trades with H yet ?

I've spent hours following all the instructions but all to no avail.

My screen display is attached which might help.
All your value displays are zero, so H cannot trade. You are doing something wrong with your setup.

The only zero reading in my pic is JPY on the M1, and that is a correct reading.

Attached Image (click to enlarge)
Click to Enlarge Name: Noname.jpg Size: 100 KB
  • #59
  • Oct 20, 2011 5:14am Oct 20, 2011 5:14am
Quoting Rascacio
At the risk of incurring Steves wrath, has anybody had any trades with H yet ?

I've spent hours following all the instructions but all to no avail.

My screen display is attached which might help.
I have had two trades:
a) - lot 0.1 audchf at 08.44 buy at 0.92183, now at -43.52$;
b) - lot 0.1 audusd at 11.59 buy at 1.02562 now at +7.10$.

I used TF H4.

You are sure that have insert the correct file name "Output---Recent Strength.CSV" in the set of HA?

Thank you to all and particulary to Steve: is the best!

Frankalde
  • #60
  • Oct 20, 2011 5:21am Oct 20, 2011 5:21am
Quoting Rascacio
At the risk of incurring Steves wrath, has anybody had any trades with H yet ?

I've spent hours following all the instructions but all to no avail.

My screen display is attached which might help.
Haven't tried the latest version but previous H was taking trades on M15 on my Alpari UK demo earlier this week.

Edit: Checked - was actually H1.
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