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CICR system (Currency index cross referencing)

  • #1,061
  • Nov 8, 2011 4:00pm Nov 8, 2011 4:00pm
Quoting SkyzerFX
Right now check AUDJPY, All Errors been RED whole day

And even now still 3 (MN-D1) are pointed down and pair just rocking the other

direction.. Sorry, looks like this Setup working exact appositive, if

All errors are RED, means Pair oversold and get ready to buy..
yeah..
that's why I always look at price action first (Daily TF for both indexes,trendlines and SnR) and RSI arrows and shape second

wow SkyzerFX 10+vouchers!!! congratulations
Account deleted
  • #1,062
  • Nov 8, 2011 5:48pm Nov 8, 2011 5:48pm
Quoting swissforex
wow SkyzerFX 10+vouchers!!! congratulations
Thanks man.. Yeah.. see while Playing JPY pairs right now, the best Idea is

to watch DOW Jones.. at 12 EST (Noon) Market was down around

70-90 points (same AUDJPY was at lowest point) and later just rebound and

finished up strong over 100+

And that's exactly what JPY pairs was following.. At least for now there

is a strong correlation, cause JPY seems like a last resort for "Safe heaven" currency,

which is of course BS )) Good luck..
Viewer Discretion Advised: Shall we shag now or should we shag later? :-)
  • #1,063
  • Nov 8, 2011 6:54pm Nov 8, 2011 6:54pm
Revised my take profit EA to grab just another 20 pips.. thinking waht is 20 pips??? should be easy be grab.. went to sleep, woke up this morning and found AUD and CHF pairs did the reverse thingy...damn,,,and no trailing stop as well,,,,double damn
  • #1,064
  • Nov 8, 2011 7:03pm Nov 8, 2011 7:03pm
Quoting Pinhead
Anyone interested in this template? One-stop shopping for all of your timeframe needs. Sort of a scalper's special. Not for the ADD impaired.

Yes, could you post it?
  • #1,065
  • Nov 8, 2011 8:26pm Nov 8, 2011 8:26pm
Quoting thor68
Yes, could you post it?
Sure. You'll need all the indicators for it to work.

Got this one, too. (Screenshot). I can post indies and tpl for that if you'd like.
Attached Image (click to enlarge)
Click to Enlarge Name: ind. pr. atf.gif Size: 32 KB
Attached File(s)
File Type: zip LG Arrows.zip   46 KB | 528 downloads
File Type: tpl master index atf.tpl   52 KB | 420 downloads
  • #1,066
  • Nov 8, 2011 8:58pm Nov 8, 2011 8:58pm
Quoting SkyzerFX
Right now check AUDJPY, All Errors been RED whole day

And even now still 3 (MN-D1) are pointed down and pair just rocking the other

direction.. Sorry, looks like this Setup working exact appositive, if

All errors are RED, means Pair oversold and get ready to buy..
All red or blue wouldnt mean overbrought or oversold, look at the rsi3 reading to see wether its overbrought oversold.
  • #1,067
  • Nov 8, 2011 9:35pm Nov 8, 2011 9:35pm
Quoting capito
All red or blue wouldnt mean overbrought or oversold, look at the rsi3 reading to see wether its overbrought oversold.
hi capito, you says audusd, nzdusd are candidates for sell this week, but there rsi reading especially D1 is oversold, can one still consider them a valid trades when macd 1 cross below "0" line?
  • #1,068
  • Nov 8, 2011 9:39pm Nov 8, 2011 9:39pm
Quoting hale-mary
well I am more of an intraday person, so i prefer to be in and out while i watch. I really dont like have trades open when I sleep or am away from the computer. I had to go down to the 15 min to se what the euro index and Austrailian index and usd index were doing. The Euro was below filter line as well as the Austrailian. Usd was not above but was holding at a 4 hour support. Although it was below on 1 hour chart.

The fact that Bursculoni is still in office influenced my decision to short as well.

I dont know if you saw my other question...
Hello hale,

Avoid choppiness is something you need to watch and yes there is no set solution to predict however with some careful watching you can see how it takes place. please check some images.. will upload more,
Attached Image(s) (click to enlarge)
Click to Enlarge Name: audusd.png Size: 30 KB
Click to Enlarge Name: eurlfx.png Size: 32 KB
Click to Enlarge Name: usdlfx.png Size: 46 KB
Click to Enlarge Name: eurchf.png Size: 46 KB
  • #1,069
  • Nov 8, 2011 10:04pm Nov 8, 2011 10:04pm
Hi.

Yet another toy to play with

question : Why ?
answer : I like to do visual backtest

One thing to remember about MTF indicators – they have one major “problem” (easy to forget about), which is they plot info using CLOSE of the bar from higher timeframe. This “problem” is hard to omit, especially when you are not pro coder like me.
i.e. H4 bar has 4xH1 bars, so there should be four separate/different calculation, not ONE taken from CLOSE of the finished 4H bar.
But never the less like I said – toy to play with.

Regards
nht
Attached Image (click to enlarge)
Click to Enlarge Name: MTF RSI mod.GIF Size: 48 KB
Attached File(s)
File Type: mq4 MTF_RSI mod.mq4   11 KB | 342 downloads
File Type: tpl mtf rsi mod.tpl   8 KB | 269 downloads
  • #1,070
  • Edited 10:35pm Nov 8, 2011 10:21pm | Edited 10:35pm
Watch aud index on daily, creating a position, ideal bet AUDJPY,AUDUSD,EURAUD

Awaiting for aud to break the congestion.. audjpy is the best bet.. USD is in congestion..
  • #1,071
  • Nov 8, 2011 10:51pm Nov 8, 2011 10:51pm
Quoting capito
Watch aud index on daily, creating a position, ideal bet AUDJPY,AUDUSD,EURAUD

Awaiting for aud to break the congestion.. audjpy is the best bet.. USD is in congestion..
Interesting, I agree with the USD, but I'm seeing AUDLFX about to cross into sell with the 3EMA/Filter and EURLFX about to cross into buy with the 3EMA/Filter, both on D1 TF, but LFXJPY isn't showing much direction for me.

Neither AJ or EA on the H4 is close to a cross, but on the D1 EA is close to crossing for a long and AJ is moving towards a short cross, so based on this I'd go long EURAUD, I can't see why AJ is a better bet, can you help me out a little bit, please?

Thanks

Paul
  • #1,072
  • Nov 8, 2011 11:07pm Nov 8, 2011 11:07pm
Quoting batemap
Interesting, I agree with the USD, but I'm seeing AUDLFX about to cross into sell with the 3EMA/Filter and EURLFX about to cross into buy with the 3EMA/Filter, both on D1 TF, but LFXJPY isn't showing much direction for me.

Neither AJ or EA on the H4 is close to a cross, but on the D1 EA is close to crossing for a long and AJ is moving towards a short cross, so based on this I'd go long EURAUD, I can't see why AJ is a better bet, can you help me out a little bit, please?

Thanks

Paul
while u r debating, i am already plunging myself in,,
Attached Image (click to enlarge)
Click to Enlarge Name: ww46.3 trade1.jpg Size: 96 KB
  • #1,073
  • Nov 8, 2011 11:38pm Nov 8, 2011 11:38pm
Hello All,
Seems that there is quite a confusion on the RSI reading. The H1 rsi arrow in bogus. With RSI 3 on H1 the change in the arrow is very frequent so it's better to avoid it for the decision making.

Let me state step by step as how to go about it and see if I am right.

1. MACD cross on H4 on the index. It's best to start here than from the middle. Pick the indices for long and short based on the MACD cross on the H4 on the ccy index.

2. HA color change and PA pierce the filter line in H4 tf, still on the index. Please note that we are still analyzing the index only and that too on the H4 tf and not higher than that.

3. The above two steps are for the H4 tf and on the Index. Only after that we move up into the D1 tf still on the index only. After the first two conditions are met, we start to look for the third condition and trade if and only if we find such a situation arises. Again please note, If and only if, that's the key word. The condition is that now look on the D1 tf on the index for the RSI 3 indicator to show the slope of it going in the direction of the first two steps stated above and that too it has to be either going up from below 30 or coming down from above 70.

4. Mind you, we are still on the index only. Here, we look at the Lawgirl's indi (it's just named Lawgirls but the indi has been developed by one of our FF members namely GSPE with the concept described by lawgirl on her thread.) Here you want to see that the arrows of D and W at least are in the same direction. (Optional : you may well consider the MN arrow also for better chances of trade. Also try to check the direction of the weekly rsi 3 and the monthly rsi 3 match that of the daily rsi 3)

5. Now that we have found the index that we are interested in, we go to the profile of that Index and check all the pairs. The pair which shows all rsi arrows pointing in the same direction is the one best suited for the trade.

6. Exit. The first cross of MACD on the H4 tf after entry point. (Of course on the pair)

7. Optional : This I'm adding by my self. I hope I don't piss the Captain off here. I also use the TMS Osc Cross indi on H4 TF. This is a very good strategy that I use.

8. For the rest of the strategy (and the whole actually), like money management, trading times, charts and all, please refer to the PDF compiled by Lee and the vids put up by the Captain here and the relevant templates given by other members.

Fellow members of the thread who are well versed with the system, please correct me where ever I'm wrong (part or whole). I'm sure Lee will be the first to jump in (atleast I hope so.)

Lee : I'm in with you Man for the EA and AJ. So when are we getting our drinks?

NHT : Your Junior member tag is not proper for the kind of post you have. Get rid of it soon.

Rest in the next, McNish.
There is no such thing as LUCK ! Chance favors the prepared mind.
  • #1,074
  • Nov 9, 2011 12:18am Nov 9, 2011 12:18am
Quoting McNish
Hello All,
Seems that there is quite a confusion on the RSI reading. The H1 rsi arrow in bogus. With RSI 3 on H1 the change in the arrow is very frequent so it's better to avoid it for the decision making.

Let me state step by step as how to go about it and see if I am right.

1. MACD cross on H4 on the index. It's best to start here than from the middle. Pick the indices for long and short based on the MACD cross on the H4 on the ccy index.

2. HA color change and PA pierce the filter line in H4 tf, still on the index. Please note...
Very well written! For step 5 choosing your best pair would you add looking at opposing indexes i.e. strong vs weak. E.g. GBP/USD would be the best pair if your index analysis points to GBPLFX as the strongest and USDLFX as a weak index.
  • #1,075
  • Edited 1:29am Nov 9, 2011 1:09am | Edited 1:29am
Mcrawfy : The concept of basket trading would be to pick an index with a strong trend. I agree that it will also incorporate the idea of paring the weakest against the strongest and that is also a way of going forward. The discussion here is to pick a basket with a strong trend and then find the relevant pair. If U have two baskets going in the opposite direction, U know which pair to pick straight away.

Say a scenario arises where we are able to only select one index, we stick to that and look in the profile of the index to find the pair with a strong trend. This goes on for maybe two days where we have only one index for trade. After two days, another index shows up with an opposing trend. Now we are in an optimal situation where one index is going down and the other is moving up and both have good trends. Here by common sense (which I believe is not so common, LOL !) we have a currency pair with a very strong momentum, say acceleration is the word I like to use.

So not every time maybe we find a pair with a strong acceleration. Since this is a system for the long term, we'll stick to it and try not to twist it to find short term trades. Once we find ourselves in the acceleration mode, we can always up our bids or lots or positions, as many would like to call it and make in that one trade what we would make in ten short trades, virtually stress free and have time too to enjoy what we have.

McNish.
There is no such thing as LUCK ! Chance favors the prepared mind.
  • #1,076
  • Nov 9, 2011 1:31am Nov 9, 2011 1:31am
Quoting McNish
Mcrawfy : The concept of basket trading would be to pick an index with a strong trend. I agree that it will also incorporate the idea of paring the weakest against the strongest and that is also a way of going forward. The discussion here is to pick a basket with a strong trend and then find the relevant pair.

Say a scenario arises where we are able to only select one index, we stick to that and look in the profile of the index to find the pair with a strong trend. This goes on for maybe two days where we have only one index for trade....


Somebody asked me how many pips can we make in a year "I say thousands and thousands. This a simple market, its like a worm which keeps moving... it often confuses us.
Is it possible to start to build a 500 account into a huge big account in a year, yes my friend very much possible.
Hence this is what i have decided. Soon i will open a live account with 500 usd and record the video when i do the live funding so you everybody is clear about it.
And then we will take 60 trades in 2012 and we can see it ourselves.

And NHT u cant be junior for too long.

Ciao..
I am finding it too difficult to reply everyone, hence i really like when guys like u n lee chip in...
I will posting all my tech vids, updates, and much more on my blog so you can check everything there.
http://forexmechanics.wordpress.com/
  • #1,077
  • Nov 9, 2011 1:32am Nov 9, 2011 1:32am
Dont overthink.... trust ur instincts and dive in when u see the oppurtunity...
  • #1,078
  • Nov 9, 2011 1:38am Nov 9, 2011 1:38am
Quoting capito



Ciao..
I am finding it too difficult to reply everyone, hence i really like when guys like u n lee chip in...
I will posting all my tech vids, updates, and much more on my blog so you can check everything there.
http://forexmechanics.wordpress.com/
will dive in if time permits....just got involved with a new project to handle today at work.. so kind of hectic schedule as well.. (can;t affort to trade full time yet .. ) .. anyway on 2nd basket now,,, 1st baskt closed with just +80 pips.. take care capito
  • #1,079
  • Nov 9, 2011 1:40am Nov 9, 2011 1:40am
Quoting McNish
Hello All,
Seems that there is quite a confusion on the RSI reading. The H1 rsi arrow in bogus. With RSI 3 on H1 the change in the arrow is very frequent so it's better to avoid it for the decision making.

Let me state step by step as how to go about it and see if I am right.

1. MACD cross on H4 on the index. It's best to start here than from the middle. Pick the indices for long and short based on the MACD cross on the H4 on the ccy index.

2. HA color change and PA pierce the filter line in H4 tf, still on the index. Please note...
  • #1,080
  • Nov 9, 2011 1:41am Nov 9, 2011 1:41am
Quoting leekaq
will dive in if time permits....just got involved with a new project to handle today at work.. so kind of hectic schedule as well.. (can;t affort to trade full time yet .. ) .. anyway on 2nd basket now,,, 1st baskt closed with just +80 pips.. take care capito
Bahhhh...... all the best bud...
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