Attachments: Recent Strength indicator

Recent Strength indicator

#441
Feb 26, 2012 5:47am Feb 26, 2012 5:47am

Jacob-
| Joined Nov 2010 | Status: Trader | 118 Posts

Quoting hanover

Disliked

I am sorry, I don't know how to help. If you're running Win7 or Vista, I can't even attempt to reproduce the problem. All I can say is that it works fine on my computer, which is Win XP, on br0kers GoMarkets and Pepperstone. I've also had the indy work successfully on another br0ker (I think it was IBFX?) who used unconventional currency symbols, e.g. EURUSDmini instead of EURUSD. All I did was change the parameter file to list the component currencies for EUR as EURUSDmini, EURGBPmini, etc

All I can suggest is that you search the forum for another...

Ignored

Thanks for trying I wanted to play with this broker but in this case I would go for another one.

good luck

Jacob

“The harder you work, the harder it is to surrender.” - Vincent Lombardi

#442
Feb 28, 2012 1:26pm Feb 28, 2012 1:26pm

dakuki
| Joined Feb 2012 | Status: Trader | 217 Posts

Hi Hanover,

I was wondering if the RSAlerts.mq4 file is still available since I cannot find it in Post 1?

Thank you.

#443
Feb 28, 2012 11:38pm Feb 28, 2012 11:38pm

hanover
Joined Sep 2006 | Status: ... | 8,112 Posts

Quoting dakuki

Disliked

Hi Hanover,

I was wondering if the RSAlerts.mq4 file is still available since I cannot find it in Post 1?

Thank you.

Ignored

Hi,

It should install automatically when you run RSsetup.EXE

But just in case it doesn't, I've attached it to this post.

David

Attached File(s)

RS alerts.mq4 98 KB | 1,409 downloads

#444
Feb 29, 2012 12:59am Feb 29, 2012 12:59am

dakuki
| Joined Feb 2012 | Status: Trader | 217 Posts

Hello Hanover!

Thank you for the above!

Another thing: why does the Recent Strength indicator not show the same results as the CSM (currency strength meter)? I might be missing something very obvious here!

and thank you again for all your efforts!

#445
Feb 29, 2012 1:15am Feb 29, 2012 1:15am

hanover
Joined Sep 2006 | Status: ... | 8,112 Posts

Quoting dakuki

Disliked

Another thing: why does the Recent Strength indicator not show the same results as the CSM (currency strength meter)?

Ignored

Hi,

The answer is that they use very different calculations.

Calculation for RS indy is explained in posts #1, #7 and #20. RS indy displays continuous stream of values. The legend that displays discrete values was added later, as the result of a request.

Calculation for CSM indy is explained in posts #398 and #426. CSM indy also displays only discrete values, and is the result of extending a different request (background in posts #51 thru #57).

Here is another strength indicator that I hastily assembled earlier today, that uses a different calculation yet again.

David

#446
Edited 2:41am Feb 29, 2012 1:24am | Edited 2:41am

dakuki
| Joined Feb 2012 | Status: Trader | 217 Posts

Hi Hanover,

What am I to do?

Now we got three different currency strength indicators!

1) Recent Strength Indicator

2) CSM (Currency Strength Meter).

3) Strength J4D

This is very confusing for the average trader. Even if we set the 'number of candles' for CSM and J4D to the same 'number of points' as in RS Strength, we get results that are still quite different.

I am aware that you are at the end of your ''giving'' but it is you who let the genie out of the bottle

. Which one of these do you personally favour from an implementable trading decision point of view!

Thank you!

PS: I also got this alert from the RSalerts indi: 08:17:23 RS alerts [EURUSD,H4] strong=JPY,NZD,USD, weak=AUD,CAD,CHF

But the RS charts did not show the same.

#447
Feb 29, 2012 5:15am Feb 29, 2012 5:15am

hanover
Joined Sep 2006 | Status: ... | 8,112 Posts

Quoting dakuki

Disliked

Hi Hanover,

What am I to do?

Now we got three different currency strength indicators!

1) Recent Strength Indicator

2) CSM (Currency Strength Meter).

3) Strength J4D

This is very confusing for the average trader. Even if we set the 'number of candles' for CSM and J4D to the same 'number of points' as in RS Strength, we get results that are still quite different.

I am aware that you are at the end of your ''giving'' but it is you who let the genie out of the bottle . Which one of these do you personally favour from an implementable trading...

Ignored

Dakuki,

There are a zillion different ways to calculate currency strength, just as there are a zillion indicators that you can use in your trading. You start with a blank canvas, and can build almost any strategy; the sheer number of possibilities can be daunting. For example, which do you think is the best moving average: simple, exponential, triangular, linear weighted, adaptive, sine, volume weighted, DEMA, zero-lag, Hull, Ehlers, Tillson, Jurik, Satchwell, .....? Next, how should you optimally set their parameters? And which timeframe should you best use them on?

As I understand it, it's not the indicators you use that are important; it comes down to how you interpret their plots, and how you integrate the various moving parts into your trading strategy: return, risk, setup, timing of entry, trade management, money management, .......

It took me almost 4 years to figure out how to trade profitably, in a way that I feel comfortable with (but then I expect a lot of folk are smarter than I am.

) In my view, anything that's worthwhile takes time and effort. When I first started out, I thought that the markets could be conquered by math, and that I would simply write an EA that would, over time, deliver profit. I assumed that by testing dozens on different indicators, I'd find those that mapped most neatly into the market cycles, and simply use them as signal generators: when to buy, when to sell, when to cover. Now, some 4 years later, I've come full circle, as my journey has taken me progressively down the path of discretionary trading, but I'm slowly reaching a point where I believe that I can nail some of my concepts down mathematically. Even though many of these are visual abstracts: support and resistance; chart and candle patterns.

Don't get me wrong, there are some contributors here who are strictly quant traders, but their knowledge of statistical math and econophysics is massively greater than mine.

If I ever get time, I might start a thread on how I've put the pieces together for myself. But there is not a lot of incentive to post on forums like these, as not all feedback is positive.

David

#448
Feb 29, 2012 5:36am Feb 29, 2012 5:36am

dakuki
| Joined Feb 2012 | Status: Trader | 217 Posts

Hi David,

This is an excellent reply. Thank you again!

I would surely be among many here that would greatly appreciate you starting a thread on your own startegies. Sure there are some negative folks out there, but so what?

Ignore them, ban them, expose them.

And yes, I am also only doing discretionary trading...based on 16 indis

. ''Different ways lead to Rome''

All the best to beautiful New Zealand!
Dan

#449
Jun 3, 2012 6:29am Jun 3, 2012 6:29am

lock.n.load
| Joined May 2012 | Status: Matthew 25:14-30; 2 Corinthians 9:8 | 36 Posts

Thank you very much Hanover....

This looks like an awesome indicator to pick the best pair to trade....

I thought about trade weighted indices and then realised that they would only potentially work on daily, weekly or monthly data. Why? Because at any given time in the 24hr Spot FX market, the major currency or trading partner(s) is the one that will affect the currency pair the most. We are all open at different times in the world...

Anyway here are 2 attachments that might be of interest for weighting your Recent Strength.
Markit document version of TWI.
Plus Deutsche Bank doc on page 72 TWI

Attached File(s)

TWI Document.pdf 604 KB | 1,444 downloads

DBGuideToFXIndices.pdf 2.6 MB | 2,071 downloads

#450
Jun 3, 2012 6:54pm Jun 3, 2012 6:54pm

hanover
Joined Sep 2006 | Status: ... | 8,112 Posts

Quoting lock.n.load

Disliked

Thank you very much Hanover....

This looks like an awesome indicator to pick the best pair to trade....

I thought about trade weighted indices and then realised that they would only potentially work on daily, weekly or monthly data. Why? Because at any given time in the 24hr Spot FX market, the major currency or trading partner(s) is the one that will affect the currency pair the most. We are all open at different times in the world...

Anyway here are 2 attachments that might be of interest for weighting your Recent Strength.
[b][u]Markit...

Ignored

Hi,

Many thanks for sharing these files. I will have a read. The Recent Strength indy can be weighted in almost any way that you wish (using the Cn_ScaleFactor and Cn_Pairs_Wgts settings).

David

#451
Edited 5:14am Jun 4, 2012 4:57am | Edited 5:14am

lock.n.load
| Joined May 2012 | Status: Matthew 25:14-30; 2 Corinthians 9:8 | 36 Posts

Hi Hanover,

In the opening post you said
"OutputFile – if left blank, no output occurs. Otherwise, typing in the name of the file here will cause CSV output of all values plotted to be exported to the file name that you specify, in folder ...../experts/files, every time the indicator refreshes. The content of this file could then be imported by an EA, or by an application like Excel, for use in further analysis "

I was wondering:

Can you have the output CSV file open in Excel while MT4 is writting the data to the file?
If you can, do you know how to make Excel receive live data from MT4?
Also if the first question can be done, do all 8 currency indices have every NumPoint value written to the file OR does it only write the NumPoint value asked for in LegendValues?
Also if the first question can be done, will it automatically write the data to the CSV spreadsheet cells?

Thank you kindly for this indicator... It is much appreciated... There are others but this one seems to work well for me...

lnl

#452
Edited 5:34am Jun 4, 2012 5:16am | Edited 5:34am

hanover
Joined Sep 2006 | Status: ... | 8,112 Posts

Quoting lock.n.load

Disliked

Hi Hanover,

In the opening post you said
"OutputFile – if left blank, no output occurs. Otherwise, typing in the name of the file here will cause CSV output of all values plotted to be exported to the file name that you specify, in folder ...../experts/files, every time the indicator refreshes. The content of this file could then be imported by an EA, or by an application like Excel, for use in further analysis "

I was wondering:[list=1][*]Can you have the output CSV file open in Excel while MT4 is writting the data to the...

Ignored

LNL,

Answers to your questions:

1. I've just attempted to do this, and it appears that the answer is no. MT4 returns error message "invalid handle -1 in File Write" if attempting to write to a file that's already open by another application.

2. I assume you mean Excel, not MT4. In which case, I don't know how to do this. It's probably possible to reload the file continuously using a VBA macro, but I'm not proficient in VBA. Maybe somebody else could answer this. In any case, if it's not possible for MT4 to write data while the file is open in Excel, I guess the answer is moot.

3. Below is a sample output file. All datapoints are output for each currency/timeframe.

4. No, it writes a CSV file only. I don't know how to make MT4 write data directly to Excel. I expect that it's possible by linking a suitable DLL (that's capable of writing Excel format) into your MQL4 code, and then calling the appropriate functions; but again, that falls outside the scope of my programming knowledge.

David

Inserted Code

    #,TF ,Time            ,      AUD,      CAD,      CHF,      EUR,      GBP,      JPY,      NZD,      USD
    0,MN ,2012.06.01 00:00, 53.92483, 50.26386, 53.26545, 52.28320, 48.50188, 29.37034, 56.98623, 38.12575
    1,MN ,2012.05.01 00:00, 60.26434, 51.39826, 56.32068, 54.86766, 47.10455, 20.30963, 63.65407, 33.05735
    2,MN ,2012.04.01 00:00, 65.01199, 50.31386, 58.03214, 56.08658, 44.55187, 18.20996, 69.05821, 28.05426
    3,MN ,2012.03.01 00:00, 64.82195, 48.23654, 56.04834, 56.00253, 42.01642, 24.46221, 64.87296, 30.28583
    4,MN ,2012.02.01 00:00, 64.47621, 45.68137, 54.30235, 57.30230, 40.23838, 31.65916, 59.08955, 30.63681
    5,MN ,2012.01.01 00:00, 61.42887, 42.98792, 56.46902, 61.02288, 40.62585, 34.81848, 54.26526, 29.87866
    6,MN ,2011.12.01 00:00, 53.68382, 39.82359, 60.14384, 66.63163, 42.22444, 36.54466, 48.03735, 32.68548
    7,MN ,2011.11.01 00:00, 52.41499, 38.62761, 71.86071, 71.70745, 40.58611, 30.44323, 53.61262, 26.37529
    8,MN ,2011.10.01 00:00, 52.60866, 39.49343, 83.43425, 72.25695, 38.68108, 24.85851, 61.95626, 19.72209
    9,MN ,2011.09.01 00:00, 52.60446, 42.15456, 87.47665, 75.88646, 36.99532, 20.05979, 63.26232, 17.89240
   10,MN ,2011.08.01 00:00, 58.39308, 46.40934, 89.70499, 78.90451, 37.71723,  9.08516, 67.87960, 12.80172
   11,MN ,2011.07.01 00:00, 61.84081, 51.28853, 80.74841, 83.90775, 41.72328,  4.68162, 61.02927, 13.70872
   12,MN ,2011.06.01 00:00, 61.51742, 55.14638, 67.59709, 89.09375, 46.28765,  3.22482, 49.96654, 20.15459
   13,MN ,2011.05.01 00:00, 60.06853, 57.08576, 58.73663, 87.05025, 51.85596,  5.13931, 44.56946, 24.27414
   14,MN ,2011.04.01 00:00, 58.01172, 58.30991, 51.84373, 85.70006, 52.98715,  8.93024, 41.49707, 28.80117
   15,MN ,2011.03.01 00:00, 55.09623, 57.66789, 49.85698, 79.29181, 52.05200, 13.65136, 42.59906, 34.02057
   16,MN ,2011.02.01 00:00, 52.12702, 56.70175, 45.78382, 75.10763, 53.62707, 17.35874, 43.22468, 38.95881
   17,MN ,2011.01.01 00:00, 49.63761, 53.39370, 41.11623, 78.68180, 53.36620, 21.02642, 43.62172, 40.60633
   18,MN ,2010.12.01 00:00, 47.33562, 51.96543, 38.65773, 81.12790, 55.79056, 22.13041, 39.32605, 43.25972
   19,MN ,2010.11.01 00:00, 39.79003, 50.75287, 35.30188, 81.89897, 60.30087, 23.86934, 35.85651, 50.35715
   20,MN ,2010.10.01 00:00, 35.14556, 52.82183, 33.36143, 83.76164, 64.10321, 22.75200, 35.66013, 52.43132
   21,MN ,2010.09.01 00:00, 28.34178, 58.08257, 33.31698, 78.56875, 66.30517, 21.59430, 34.43708, 62.32870
   22,MN ,2010.08.01 00:00, 24.24572, 64.95112, 25.97710, 76.77811, 66.36413, 19.27766, 36.99421, 72.01913
   23,MN ,2010.07.01 00:00, 28.64135, 70.00552, 21.24249, 83.72787, 65.70970,  9.53050, 38.64042, 72.22582
   24,MN ,2010.06.01 00:00, 31.45808, 72.36447, 21.48908, 90.13556, 63.48635,  3.23696, 36.73702, 73.57827
   29,W1 ,2012.06.03 00:00, 61.50496, 61.66125, 63.09515, 63.54985, 65.08980, 52.89915, 57.43453, 57.76127
   30,W1 ,2012.05.27 00:00, 62.84974, 64.20164, 65.57665, 65.76132, 68.18725, 45.01601, 59.88291, 53.59964
   31,W1 ,2012.05.20 00:00, 65.34436, 66.47540, 68.98988, 68.62711, 70.87140, 35.58504, 64.16739, 47.99652
   32,W1 ,2012.05.13 00:00, 69.99861, 68.47961, 72.44528, 71.02548, 69.93763, 27.50715, 72.55111, 40.92630
   33,W1 ,2012.05.06 00:00, 74.46336, 70.31493, 74.94913, 72.26736, 68.75105, 18.33655, 82.31782, 36.57691
   34,W1 ,2012.04.29 00:00, 78.66685, 69.72094, 76.14273, 72.66623, 64.70733, 14.82855, 89.38950, 34.93809
   35,W1 ,2012.04.22 00:00, 80.79093, 70.21651, 77.04262, 72.77015, 61.78007, 11.35485, 94.73936, 34.91839
   36,W1 ,2012.04.15 00:00, 80.33749, 68.77565, 79.54804, 75.46635, 60.67043,  7.85348, 95.76860, 36.39086
   37,W1 ,2012.04.08 00:00, 82.25844, 68.28164, 80.20413, 76.56753, 58.39695,  6.67598, 96.17298, 36.80054
   38,W1 ,2012.04.01 00:00, 85.74247, 69.51880, 80.80472, 77.69531, 58.20349,  1.79596, 96.66500, 36.65627
   39,W1 ,2012.03.25 00:00, 90.02503, 70.46194, 80.25136, 77.85915, 55.91971,  0.00000, 96.98814, 36.46596
   40,W1 ,2012.03.18 00:00, 95.62599, 71.46512, 77.37323, 75.23325, 53.31356,  1.28701, 98.15179, 35.73101
   41,W1 ,2012.03.11 00:00, 97.67294, 69.71190, 78.18214, 75.80923, 51.66312,  1.86154,100.00000, 34.11355
   42,W1 ,2012.03.04 00:00, 98.32395, 67.59658, 76.18069, 74.10943, 50.28698,  8.13935, 99.68641, 32.95585
   43,W1 ,2012.02.26 00:00, 98.10529, 63.87640, 74.76239, 73.32468, 49.44585, 16.10709, 98.05613, 31.28991
   44,W1 ,2012.02.19 00:00, 97.21744, 61.65785, 72.51721, 71.34858, 47.83950, 25.17778, 97.21266, 29.93330
   45,W1 ,2012.02.12 00:00, 96.65191, 60.99849, 69.01931, 68.42412, 46.38269, 34.31381, 94.16534, 29.95759
   46,W1 ,2012.02.05 00:00, 94.75356, 59.45190, 67.52405, 67.42977, 45.41271, 41.13848, 89.82775, 31.58933
   47,W1 ,2012.01.29 00:00, 93.08400, 59.45549, 64.67380, 64.67135, 44.66050, 46.41324, 86.59251, 35.42975
   48,W1 ,2012.01.22 00:00, 89.59276, 58.12341, 62.47144, 64.29883, 45.80325, 50.84556, 79.59701, 40.59327
   49,W1 ,2012.01.15 00:00, 85.85067, 57.80823, 60.66507, 64.80622, 47.60117, 54.14982, 73.02677, 44.29733
   50,W1 ,2012.01.08 00:00, 82.04562, 57.66814, 61.38276, 68.13566, 49.48905, 53.70309, 67.99433, 46.03667
   51,W1 ,2012.01.01 00:00, 77.09938, 55.10488, 64.24907, 73.84652, 52.78367, 52.79497, 61.72102, 46.86926
   52,W1 ,2011.12.25 00:00, 74.88386, 54.52803, 67.61196, 80.61196, 53.40237, 49.46960, 59.08240, 44.90254
   53,W1 ,2011.12.18 00:00, 74.22556, 53.84029, 69.82408, 85.34792, 53.09103, 46.28666, 58.33541, 44.02470
   58,D1 ,2012.06.04 00:00, 64.50078, 66.41520, 60.63530, 61.00052, 64.60585, 60.45837, 61.21252, 63.34228
   59,D1 ,2012.06.01 00:00, 66.56530, 68.89243, 60.53430, 60.82611, 66.81617, 55.27726, 62.12147, 61.93720
   60,D1 ,2012.05.31 00:00, 68.38927, 71.04414, 60.70594, 61.02960, 69.69027, 49.54750, 63.07026, 60.29593
   61,D1 ,2012.05.30 00:00, 68.13650, 70.87551, 62.57070, 62.86629, 72.44385, 45.00897, 62.74162, 59.43403
   62,D1 ,2012.05.29 00:00, 68.32304, 70.28390, 64.17903, 64.65418, 73.95031, 42.49566, 61.91191, 58.30594
   63,D1 ,2012.05.28 00:00, 66.40991, 69.55213, 65.50794, 66.43833, 75.03921, 42.91372, 58.73468, 58.69942
   64,D1 ,2012.05.25 00:00, 65.19159, 69.60005, 67.53045, 68.64609, 75.84201, 41.28181, 56.68096, 58.40293
   65,D1 ,2012.05.24 00:00, 65.82132, 69.29181, 69.92858, 71.02291, 75.36596, 39.47811, 57.44631, 55.55740
   66,D1 ,2012.05.23 00:00, 65.67103, 68.12489, 72.17793, 73.34844, 75.45869, 39.13451, 56.36886, 53.60786
   67,D1 ,2012.05.22 00:00, 67.07410, 67.81805, 72.71998, 73.58840, 75.14091, 37.97218, 58.43051, 51.84512
   68,D1 ,2012.05.21 00:00, 68.22836, 68.79332, 72.40086, 73.00131, 76.10069, 35.91043, 60.26547, 50.72063
   69,D1 ,2012.05.18 00:00, 68.62544, 71.19264, 70.97136, 71.40159, 78.24309, 33.52517, 61.54975, 50.66110
   70,D1 ,2012.05.17 00:00, 69.24217, 73.94296, 70.33489, 70.23472, 80.21296, 29.45848, 65.89196, 48.80011
   71,D1 ,2012.05.16 00:00, 69.44120, 75.81682, 71.80062, 71.26862, 81.27037, 25.10483, 69.29109, 46.14800
   72,D1 ,2012.05.15 00:00, 70.21346, 75.48412, 73.07700, 72.10837, 81.57107, 23.36159, 72.45245, 43.27837
   73,D1 ,2012.05.14 00:00, 70.49675, 74.52304, 74.57881, 73.30759, 81.17825, 22.68196, 74.55220, 41.09638
   74,D1 ,2012.05.11 00:00, 72.23572, 73.92811, 76.08551, 74.60277, 80.22567, 20.87795, 76.04681, 39.30548
   75,D1 ,2012.05.10 00:00, 74.25245, 73.92309, 76.66498, 75.03078, 80.01302, 19.19559, 77.65839, 37.50280
   76,D1 ,2012.05.09 00:00, 74.97308, 74.04571, 77.96416, 76.10363, 78.57556, 18.06497, 79.35363, 36.12863
   77,D1 ,2012.05.08 00:00, 77.35211, 75.17653, 79.70214, 77.59231, 76.95463, 14.49282, 81.87971, 33.92943
   78,D1 ,2012.05.07 00:00, 79.67861, 76.26678, 80.52191, 77.89006, 75.23137, 11.67298, 86.34153, 31.74785
   79,D1 ,2012.05.04 00:00, 80.61889, 76.41225, 82.17648, 79.02799, 73.64868,  9.33003, 90.38459, 29.84386
   80,D1 ,2012.05.03 00:00, 83.56852, 76.45303, 82.85453, 79.20071, 72.36636,  7.08235, 94.42875, 27.49827
   81,D1 ,2012.05.02 00:00, 85.94818, 76.80556, 83.15171, 78.86301, 71.49620,  4.99012, 98.68504, 25.56549
   82,D1 ,2012.05.01 00:00, 86.92584, 77.10736, 84.06586, 79.65758, 71.06123,  2.62037, 99.70316, 25.35836
   87,H4 ,2012.06.04 12:00, 62.69536, 64.41340, 66.16627, 67.30344, 68.05245, 71.27154, 60.05362, 71.59718
   88,H4 ,2012.06.04 08:00, 63.15361, 63.60570, 66.23009, 67.73053, 67.21847, 72.80090, 58.35566, 71.87537
   89,H4 ,2012.06.04 04:00, 64.48594, 66.04325, 64.53531, 66.18426, 67.59037, 71.55281, 58.33635, 72.35056
   90,H4 ,2012.06.04 00:00, 64.52466, 68.23712, 62.24875, 64.03760, 67.01836, 73.16921, 57.55868, 74.08895
   91,H4 ,2012.06.01 20:00, 66.77142, 72.54925, 59.72384, 61.54051, 64.85922, 73.30215, 57.46338, 74.94199
   92,H4 ,2012.06.01 16:00, 67.48239, 77.89402, 56.43344, 58.43625, 66.93896, 70.73730, 56.77832, 76.60661
   93,H4 ,2012.06.01 12:00, 68.14813, 80.95851, 54.56578, 56.82066, 68.90112, 69.06385, 55.23246, 77.41556
   94,H4 ,2012.06.01 08:00, 72.89700, 84.54789, 53.18968, 55.37031, 70.02868, 64.85599, 56.46993, 74.44860
   95,H4 ,2012.06.01 04:00, 75.67881, 85.98402, 52.41112, 54.43057, 73.28046, 60.65394, 58.25488, 71.74382
   96,H4 ,2012.06.01 00:00, 77.03574, 87.55603, 52.84941, 54.80083, 76.04575, 56.57838, 59.26006, 68.95721
   97,H4 ,2012.05.31 20:00, 78.13348, 90.14273, 53.82498, 55.52427, 78.73733, 50.29196, 62.17220, 65.72719
   98,H4 ,2012.05.31 16:00, 76.23221, 92.22382, 54.76107, 56.47744, 81.45817, 46.00641, 62.86166, 65.22780
   99,H4 ,2012.05.31 12:00, 73.54701, 94.49042, 55.28283, 57.24060, 84.54902, 42.67600, 61.71750, 65.89830
  100,H4 ,2012.05.31 08:00, 72.69374, 95.66294, 55.05961, 56.79772, 85.58652, 40.25067, 62.00833, 67.63755
  101,H4 ,2012.05.31 04:00, 72.87625, 95.34384, 55.01654, 56.78646, 86.32735, 39.67333, 61.47988, 68.01118
  102,H4 ,2012.05.31 00:00, 74.57160, 93.83206, 56.50930, 57.91036, 89.32226, 34.57088, 63.42633, 66.07211
  103,H4 ,2012.05.30 20:00, 77.11770, 93.87098, 58.52553, 59.38116, 90.66464, 27.64758, 67.45518, 63.19233
  104,H4 ,2012.05.30 16:00, 79.91507, 93.99727, 60.58874, 61.26220, 92.89066, 20.55796, 70.86544, 59.35423
  105,H4 ,2012.05.30 12:00, 82.77028, 94.62833, 61.96553, 62.22578, 94.80518, 13.87766, 73.63541, 56.91616
  106,H4 ,2012.05.30 08:00, 86.21858, 96.91189, 63.05721, 62.91197, 94.54363,  8.27580, 76.04641, 54.35666
  107,H4 ,2012.05.30 04:00, 88.70170, 96.04818, 63.69451, 63.60458, 95.84725,  5.85516, 75.70051, 52.88836
  108,H4 ,2012.05.30 00:00, 90.12307, 94.54938, 65.46141, 65.72061, 96.72497,  3.99125, 74.08345, 51.38161
  109,H4 ,2012.05.29 20:00, 91.72534, 92.64670, 67.40444, 68.29953, 97.99043,  1.68648, 72.79689, 49.28542
  110,H4 ,2012.05.29 16:00, 91.72700, 91.26476, 67.96600, 69.77782, 99.07084,  1.39734, 71.09093, 48.95243
  111,H4 ,2012.05.29 12:00, 91.34537, 90.71582, 69.09388, 71.54094, 99.92931,  0.03651, 69.97998, 48.44733
  116,H1 ,2012.06.04 13:00, 39.97689, 41.04836, 46.06706, 47.49882, 45.28523, 58.21299, 36.74501, 52.18879
  117,H1 ,2012.06.04 12:00, 37.30600, 38.71142, 45.76724, 48.59682, 47.40850, 60.25413, 30.90761, 56.05126
  118,H1 ,2012.06.04 11:00, 36.55134, 36.92587, 45.62586, 49.33137, 48.22583, 60.71163, 26.88602, 59.33405
  119,H1 ,2012.06.04 10:00, 34.04487, 36.11808, 44.83169, 49.52345, 52.63284, 60.27643, 22.03617, 62.55576
  120,H1 ,2012.06.04 09:00, 32.15706, 36.22370, 45.00531, 50.08221, 55.03498, 57.43690, 20.58968, 65.12769
  121,H1 ,2012.06.04 08:00, 30.59903, 36.26666, 43.49886, 48.52426, 55.58103, 59.63628, 19.54943, 67.52091
  122,H1 ,2012.06.04 07:00, 26.26177, 35.92243, 41.89700, 47.46660, 57.21410, 64.05668, 15.41419, 71.54640
  123,H1 ,2012.06.04 06:00, 25.60029, 35.71337, 40.99106, 46.71520, 56.35892, 66.28685, 14.84279, 72.97040
  124,H1 ,2012.06.04 05:00, 25.08001, 33.78987, 40.26942, 46.81214, 55.13611, 71.06126, 11.44918, 74.58362
  125,H1 ,2012.06.04 04:00, 25.93563, 35.03476, 42.72051, 49.56064, 52.48554, 68.91916, 11.10161, 72.83660
  126,H1 ,2012.06.04 03:00, 34.12791, 38.50559, 44.52759, 50.49676, 47.94387, 63.53747, 16.35732, 65.28591
  127,H1 ,2012.06.04 02:00, 41.55686, 38.79015, 46.25271, 51.73622, 42.69030, 62.24585, 20.15274, 58.67106
  128,H1 ,2012.06.04 01:00, 47.54491, 45.57067, 46.12164, 51.02118, 40.29308, 55.49010, 23.98850, 54.03629
  129,H1 ,2012.06.04 00:00, 51.21944, 48.57342, 43.18363, 47.55427, 40.92197, 55.45463, 25.81833, 51.85591
  130,H1 ,2012.06.01 23:00, 50.18096, 50.97305, 39.30324, 44.47995, 42.82897, 56.30116, 24.24318, 55.62499
  131,H1 ,2012.06.01 22:00, 50.46817, 60.02644, 33.49270, 38.52127, 45.80027, 51.53717, 25.80308, 59.21630
  132,H1 ,2012.06.01 21:00, 50.03821, 63.08848, 32.68569, 37.88344, 48.02933, 48.79570, 26.31496, 58.50614
  133,H1 ,2012.06.01 20:00, 47.15196, 65.49375, 28.68832, 34.00161, 47.34752, 54.04704, 23.68182, 64.03474
  134,H1 ,2012.06.01 19:00, 45.87374, 66.52102, 28.14482, 32.66719, 52.09674, 52.61914, 23.68414, 62.92146
  135,H1 ,2012.06.01 18:00, 38.95124, 64.88138, 25.33054, 30.80973, 53.28149, 61.96254, 16.24548, 70.45538
  136,H1 ,2012.06.01 17:00, 36.58214, 73.37494, 15.01669, 20.45489, 50.77505, 72.78286, 13.51904, 78.62439
  137,H1 ,2012.06.01 16:00, 37.11789, 81.17461,  9.83565, 15.64226, 50.89667, 72.98231, 13.16232, 80.71959
  138,H1 ,2012.06.01 15:00, 36.97948, 89.17563,  1.71965,  8.98231, 45.39676, 82.80060,  6.10967, 88.57928
  139,H1 ,2012.06.01 14:00, 43.85562, 96.19773,  0.00000,  7.03463, 39.12358, 79.96661,  7.86769, 86.98095
  140,H1 ,2012.06.01 13:00, 50.28659, 96.32228,  2.49315,  9.86705, 42.74318, 66.35776,  8.70962, 84.77913
  145,M30,2012.06.04 13:00, 48.79850, 49.28597, 57.24380, 58.46629, 53.54544, 69.12483, 46.57644, 62.41890
  146,M30,2012.06.04 12:30, 44.92219, 46.16187, 56.51656, 58.80563, 53.87250, 77.28981, 38.76933, 66.38275
  147,M30,2012.06.04 12:00, 41.42019, 43.46923, 55.41519, 58.77925, 54.28732, 84.74908, 31.75093, 70.34779
  148,M30,2012.06.04 11:30, 39.24479, 42.27542, 54.42700, 59.15014, 58.43953, 84.61857, 25.16350, 74.74047
  149,M30,2012.06.04 11:00, 39.28263, 41.81755, 53.70392, 59.62004, 63.23650, 80.69066, 22.71709, 76.12541
  150,M30,2012.06.04 10:30, 38.10014, 42.08665, 53.65450, 60.24177, 65.57083, 75.81585, 22.18141, 79.42224
  151,M30,2012.06.04 10:00, 40.49458, 42.15874, 54.54837, 61.34621, 66.35555, 69.02804, 23.29756, 80.27516
  152,M30,2012.06.04 09:30, 38.83383, 41.47030, 54.42116, 61.58924, 66.49233, 70.15485, 22.00788, 82.07191
  153,M30,2012.06.04 09:00, 35.11740, 40.74262, 53.97868, 61.40125, 68.16326, 73.44404, 17.33646, 85.41529
  154,M30,2012.06.04 08:30, 33.36802, 39.48522, 53.31693, 61.09661, 69.66369, 76.22221, 14.32463, 87.02338
  155,M30,2012.06.04 08:00, 28.20297, 39.56813, 52.67788, 60.81223, 72.40445, 78.84261, 11.08556, 89.94512
  156,M30,2012.06.04 07:30, 26.97778, 39.81285, 51.34211, 59.55325, 73.56788, 80.10076, 10.63378, 91.28512
  157,M30,2012.06.04 07:00, 28.40759, 40.60358, 49.57366, 57.45472, 72.69836, 80.03946, 13.77848, 91.45412
  158,M30,2012.06.04 06:30, 27.17171, 41.19188, 48.81129, 56.58426, 71.72848, 81.68320, 14.35660, 92.63600
  159,M30,2012.06.04 06:00, 25.97123, 40.60377, 47.09940, 55.31638, 71.38449, 85.55036, 11.52662, 95.62224
  160,M30,2012.06.04 05:30, 24.64162, 40.84640, 46.35331, 54.86294, 70.34953, 88.20753,  8.97687, 98.07909
  161,M30,2012.06.04 05:00, 22.24100, 39.74884, 46.79215, 55.85868, 69.96395, 91.54192,  4.99356,100.00000
  162,M30,2012.06.04 04:30, 25.36213, 37.80587, 48.49073, 58.07410, 69.23334, 90.52180,  2.15061, 98.64718
  163,M30,2012.06.04 04:00, 25.79903, 35.57099, 49.14352, 59.48425, 67.78268, 93.66176,  0.00000, 98.02857
  164,M30,2012.06.04 03:30, 29.44770, 37.02337, 50.58821, 61.29109, 65.36422, 90.45285,  1.34995, 94.69334
  165,M30,2012.06.04 03:00, 33.10406, 39.94796, 53.74669, 64.32915, 61.85971, 83.97462,  4.82316, 90.20842
  166,M30,2012.06.04 02:30, 36.00000, 46.51034, 55.15002, 64.86884, 58.64568, 77.44386,  9.94780, 85.97014
  167,M30,2012.06.04 02:00, 47.58642, 53.83916, 57.14938, 64.83257, 53.43081, 66.40552, 19.81190, 75.50705
  168,M30,2012.06.04 01:30, 54.12209, 57.62668, 58.37324, 64.39860, 49.95310, 62.64346, 26.49532, 67.51573
  169,M30,2012.06.04 01:00, 61.36875, 55.11972, 57.74662, 63.17962, 45.74726, 67.22605, 28.59242, 62.29242
  174,M15,2012.06.04 13:15, 55.17421, 54.89434, 58.49323, 58.81450, 57.22190, 65.40442, 55.31470, 59.62766
  175,M15,2012.06.04 13:00, 52.26812, 51.52821, 59.10061, 59.67425, 56.50077, 68.95290, 51.78207, 61.79906
  176,M15,2012.06.04 12:45, 47.68522, 48.53340, 57.68579, 59.08089, 56.84461, 76.97279, 45.64855, 66.80636
  177,M15,2012.06.04 12:30, 44.07235, 46.22463, 57.74838, 60.06440, 54.98905, 83.36864, 38.90828, 71.67351
  178,M15,2012.06.04 12:15, 41.03820, 43.63126, 57.54516, 60.77524, 54.72753, 89.01334, 33.32367, 75.03932
  179,M15,2012.06.04 12:00, 39.33689, 43.28407, 55.95370, 60.11928, 56.03602, 93.32297, 27.57675, 77.57936
  180,M15,2012.06.04 11:45, 39.29410, 42.76854, 57.80497, 61.82564, 56.05746, 92.87623, 27.15748, 75.49198
  181,M15,2012.06.04 11:30, 38.74449, 41.87684, 56.43303, 60.81125, 58.40692, 95.34573, 25.55567, 75.33769
  182,M15,2012.06.04 11:15, 38.14038, 42.14440, 57.17559, 62.03057, 61.76133, 93.07688, 23.01670, 74.58618
  183,M15,2012.06.04 11:00, 37.25600, 41.07262, 57.59147, 63.12813, 65.38927, 88.61205, 20.93379, 77.26729
  184,M15,2012.06.04 10:45, 34.40901, 40.65458, 55.89540, 63.40681, 69.55656, 87.26840, 14.06433, 83.78165
  185,M15,2012.06.04 10:30, 35.00360, 41.00206, 56.40730, 64.98026, 72.90925, 80.13170, 12.75832, 85.58209
  186,M15,2012.06.04 10:15, 33.87425, 41.33491, 55.04393, 64.38861, 74.27606, 77.64762, 11.25595, 90.39407
  187,M15,2012.06.04 10:00, 33.35313, 42.72655, 54.57061, 64.03018, 73.42288, 76.31854, 12.70216, 91.63158
  188,M15,2012.06.04 09:45, 37.03311, 41.54900, 55.81994, 64.72816, 71.19518, 73.61666, 16.32966, 89.48943
  189,M15,2012.06.04 09:30, 39.28455, 41.28722, 56.37129, 64.46749, 68.77541, 72.68631, 18.96232, 88.70277
  190,M15,2012.06.04 09:15, 40.89463, 40.93717, 57.07441, 64.89623, 68.04742, 71.26292, 21.15150, 86.92635
  191,M15,2012.06.04 09:00, 39.44179, 38.72725, 57.39768, 65.54276, 69.06266, 73.93221, 18.17237, 87.82446
  192,M15,2012.06.04 08:45, 36.05560, 38.39442, 56.91064, 65.34297, 71.52016, 76.32112, 14.99442, 89.57482
  193,M15,2012.06.04 08:30, 29.38679, 37.79128, 55.83537, 65.37898, 75.92582, 81.15980,  6.80930, 94.33542
  194,M15,2012.06.04 08:15, 25.60044, 37.97343, 54.08614, 64.53695, 77.88685, 85.56032,  0.60075, 98.45117
  195,M15,2012.06.04 08:00, 24.97396, 38.68881, 52.97572, 63.52857, 78.65514, 86.19313,  0.00000, 99.46444
  196,M15,2012.06.04 07:45, 24.61079, 40.30702, 52.45781, 62.75170, 78.05320, 85.09300,  1.89436,100.00000
  197,M15,2012.06.04 07:30, 25.14039, 41.00871, 52.77336, 62.37785, 76.90505, 83.36864,  6.22951, 98.71219
  198,M15,2012.06.04 07:15, 26.96471, 40.21099, 54.12644, 62.91462, 76.50633, 80.77909, 10.58643, 95.70375
  203,M5 ,2012.06.04 13:15, 45.77656, 45.10018, 46.74654, 47.09943, 46.29642, 51.08624, 45.43351, 47.42202
  204,M5 ,2012.06.04 13:10, 44.27948, 43.42157, 47.14256, 47.54367, 46.23447, 52.53699, 44.69969, 47.73006
  205,M5 ,2012.06.04 13:05, 42.42895, 41.25654, 48.03418, 48.68819, 44.78058, 56.46107, 42.62680, 48.54349
  206,M5 ,2012.06.04 13:00, 42.20491, 38.90229, 49.70803, 50.57613, 44.69824, 56.43049, 42.26945, 47.83348
  207,M5 ,2012.06.04 12:55, 40.76036, 37.53202, 49.70215, 50.53025, 43.66782, 60.00639, 40.51425, 49.21727
  208,M5 ,2012.06.04 12:50, 37.82653, 35.30615, 49.69980, 50.75727, 43.39727, 64.77033, 36.52830, 52.20377
  209,M5 ,2012.06.04 12:45, 35.27671, 33.39915, 49.23752, 50.43733, 44.58414, 68.35682, 33.47995, 54.52207
  210,M5 ,2012.06.04 12:40, 31.60824, 31.62952, 48.74230, 50.15384, 44.21126, 74.10531, 29.16847, 58.13532
  211,M5 ,2012.06.04 12:35, 28.64558, 30.32162, 46.78967, 49.00108, 45.31226, 79.50445, 23.36421, 62.72787
  212,M5 ,2012.06.04 12:30, 27.36376, 29.93918, 44.70295, 47.77657, 46.72262, 82.85097, 18.32064, 66.22793
  213,M5 ,2012.06.04 12:25, 25.47724, 29.90289, 42.33274, 46.13801, 47.46133, 86.34218, 15.02785, 69.96527
  214,M5 ,2012.06.04 12:20, 23.38802, 31.14694, 40.13897, 44.74412, 48.68937, 89.36170, 10.77667, 73.07594
  215,M5 ,2012.06.04 12:15, 21.38104, 30.04171, 41.90928, 47.23784, 46.82849, 91.15435,  8.68769, 73.59873
  216,M5 ,2012.06.04 12:10, 20.64051, 29.48282, 44.08422, 49.58452, 43.14320, 91.81778,  8.47082, 73.78897
  217,M5 ,2012.06.04 12:05, 19.74326, 27.66864, 45.79218, 51.90533, 42.04102, 93.84686,  5.00601, 74.02785
  218,M5 ,2012.06.04 12:00, 19.64826, 25.22452, 47.03316, 53.46508, 40.81063, 95.60423,  3.76440, 73.96966
  219,M5 ,2012.06.04 11:55, 20.45562, 24.08003, 46.93671, 53.09925, 41.21174, 96.15591,  3.99663, 73.47158
  220,M5 ,2012.06.04 11:50, 19.67318, 22.88235, 46.37680, 52.89105, 43.91601, 97.81211,  1.76303, 73.21741
  221,M5 ,2012.06.04 11:45, 20.15606, 23.49846, 47.24489, 53.56153, 43.90543, 96.73699,  2.39091, 71.41660
  222,M5 ,2012.06.04 11:40, 20.00641, 24.22226, 46.01450, 52.49582, 45.70279, 97.87210,  0.00000, 71.84857
  223,M5 ,2012.06.04 11:35, 22.01008, 25.99594, 46.48737, 52.85694, 45.67220, 94.83729,  1.12076, 69.79914
  224,M5 ,2012.06.04 11:30, 23.77925, 27.11581, 46.75438, 52.66756, 45.68514, 92.63412,  3.12715, 67.76700
  225,M5 ,2012.06.04 11:25, 24.13491, 27.60667, 46.71792, 52.01707, 46.82731, 91.06731,  5.38892, 66.46545
  226,M5 ,2012.06.04 11:20, 23.55896, 26.91365, 47.09433, 52.43230, 47.17196, 91.18494,  5.86181, 66.10040
  227,M5 ,2012.06.04 11:15, 21.17141, 25.55115, 45.11347, 50.86902, 48.83170, 96.06533,  3.66855, 67.97999
  232,M1 ,2012.06.04 13:15, 46.67762, 37.51376, 37.17895, 35.77083, 35.03886, 35.69639, 46.76936, 36.11662
  233,M1 ,2012.06.04 13:14, 51.02828, 37.40816, 39.97968, 38.71889, 32.90342, 32.97785, 47.57409, 33.80372
  234,M1 ,2012.06.04 13:13, 55.00457, 38.66764, 40.53797, 38.47696, 28.10216, 33.14534, 51.98239, 29.99660
  235,M1 ,2012.06.04 13:12, 51.35870, 37.22582, 41.00786, 39.44931, 25.63175, 40.99855, 47.87713, 31.04713
  236,M1 ,2012.06.04 13:11, 46.65174, 36.27585, 40.18904, 39.59819, 25.99464, 49.11230, 40.79422, 33.69416
  237,M1 ,2012.06.04 13:10, 42.57387, 35.74237, 36.04377, 35.64367, 27.24147, 58.45892, 39.59734, 36.00073
  238,M1 ,2012.06.04 13:09, 37.52952, 36.36505, 33.75480, 34.93185, 31.70310, 63.06943, 31.88490, 39.63311
  239,M1 ,2012.06.04 13:08, 37.05455, 33.80810, 34.34565, 35.99725, 36.86724, 61.09217, 30.77293, 38.33161
  240,M1 ,2012.06.04 13:07, 33.56725, 30.84842, 35.81580, 38.10012, 40.36583, 60.23148, 28.67239, 39.86296
  241,M1 ,2012.06.04 13:06, 29.92002, 28.68592, 38.63049, 42.12908, 41.53823, 60.61763, 22.24073, 41.96218
  242,M1 ,2012.06.04 13:05, 23.66829, 23.17031, 40.86363, 45.02286, 40.26348, 66.09347, 19.94493, 45.58007
  243,M1 ,2012.06.04 13:04, 20.18093, 22.42367, 44.55297, 48.59123, 36.04377, 67.57293, 20.46657, 45.36342
  244,M1 ,2012.06.04 13:03, 20.59000, 21.86550, 45.62302, 48.89364, 33.01507, 66.97743, 25.99362, 43.88608
  245,M1 ,2012.06.04 13:02, 18.04326, 18.02793, 46.09291, 48.70289, 32.94994, 70.73655, 29.91509, 43.01153
  246,M1 ,2012.06.04 13:01, 23.93719, 16.60392, 46.60467, 47.64215, 32.38700, 68.04747, 34.88152, 38.65521
  247,M1 ,2012.06.04 13:00, 23.52818, 17.28099, 42.97581, 44.44596, 32.74524, 71.94151, 33.70043, 41.37108
  248,M1 ,2012.06.04 12:59, 19.89193, 16.92535, 43.38057, 45.79050, 31.90315, 78.38506, 27.29059, 42.61014
  249,M1 ,2012.06.04 12:58, 19.92442, 16.12803, 45.52997, 48.76802, 28.08821, 80.29253, 23.74760, 42.87672
  250,M1 ,2012.06.04 12:57, 14.03114, 12.62249, 48.04225, 52.41549, 24.51518, 88.24810, 16.18251, 47.00714
  251,M1 ,2012.06.04 12:56, 11.73947,  8.16031, 51.66645, 57.03064, 22.07268, 93.15170,  8.69228, 48.30603
  252,M1 ,2012.06.04 12:55, 10.67959,  4.60870, 52.45736, 58.06347, 18.91837, 98.86017,  4.38499, 51.23630
  253,M1 ,2012.06.04 12:54, 12.91933,  2.71361, 52.40153, 57.97042, 18.86254,100.00000,  1.48516, 51.76079
  254,M1 ,2012.06.04 12:53, 19.90668,  2.70647, 51.58271, 57.85411, 20.16055, 94.02170,  2.29927, 49.68975
  255,M1 ,2012.06.04 12:52, 25.68358,  0.48373, 53.92751, 59.26844, 20.97472, 85.60089, 10.14754, 44.38496
  256,M1 ,2012.06.04 12:51, 34.42725,  0.00000, 57.17952, 62.18548, 20.98403, 73.58380, 18.74447, 36.20007

[EDIT]
I just attempted to open the output file in Excel in read-only mode (click the little dropdown arrow on the 'Open' button), and that seems to prevent the "invalid handle -1 in File Write" error message from occurring when MT4 attempts to write to the file. Looks like it's possible to open a file in read-only mode in a VBA macro, as noted here.

#453
Jun 4, 2012 5:51am Jun 4, 2012 5:51am

lock.n.load
| Joined May 2012 | Status: Matthew 25:14-30; 2 Corinthians 9:8 | 36 Posts

Wow, thanks for your very prompt reply....

I will look into it.... Cause I have seen MT4 receive live OHLC data before but not indicator data....

Its great that it prints out all the data... don't have to have multiple instances of the indicator....

Thanks
lnl

#454
Edited 10:59pm Jun 7, 2012 10:27pm | Edited 10:59pm

pedma
Joined Jan 2010 | Status: Trader | 363 Posts

Hi David,

Many thanks for your great works !! I want to know, is it possible to use RS indicator / EA to know the sideways situation (not trending) ? Because some friends told me that using Scalping EA with "Averaging & Martiangle" method is only good for sideways situation ...

For example (please see attachment) :
EUR = 2.6 (weakest)
GBP = 2.7 (2nd weakest)
CHF = 3.2 (3rd weakest)
NZD = 4.4 (4th weakest)
AUD = 5.1 (5th weakest)
USD = 5.6 (6th weakest)
CAD = 5.8 (7th weakest = 2nd strongest)
JPY = 6.6 (8th weakest = strongest)

For sideways trading, which currency pair can be used ?

a) EUR/GBP (weakest X 2nd weakest)
b) CAD/JPY (strongest X 2nd strongest)
c) AUD/NZD (middle pair, 4th weakest X 5th weakest)

Or all of these are irrelevant ? Any idea ?

Thank you very much David
= pedma =

Attached Image

Good friends are more valuable than gold ...

#455
Jun 8, 2012 12:18am Jun 8, 2012 12:18am

hanover
Joined Sep 2006 | Status: ... | 8,112 Posts

Quoting pedma

Disliked

Hi David,

Many thanks for your great works !! I want to know, is it possible to use RS indicator / EA to know the sideways situation (not trending) ? Because some friends told me that using Scalping EA with "Averaging & Martiangle" method is only good for sideways situation ...

For example (please see attachment) :
EUR = 2.6 (weakest)
GBP = 2.7 (2nd weakest)
CHF = 3.2 (3rd weakest)
NZD = 4.4 (4th weakest)
AUD = 5.1 (5th weakest)
USD = 5.6 (6th weakest)
CAD = 5.8 (7th weakest = 2nd strongest)
JPY = 6.6 (8th...

Ignored

Pedma,

It would depend on your definition of "sideways", and in which timeframe. For example a currency can be strong in one TF, and weak in another, just as the chart of a currency pair can be in an uptrend in one TF, and in a downtrend in another.

In general, currencies that are positively correlated will have a similar strength readings, and their price chart tends to move sideways. Personally, I think the RS indy (the one that plots the squiggly lines — see post #1) is a better indication of correlation than either CSM (which plots the histogram) or the Henry Liu-like version (which simply plots the numeric values, based on the today's candle as it progressively takes shape — as in your screenshot).

For more info on how Henry uses his indicator, see his video. I don't use this version of the indy myself, hence I'm not qualified to comment on how you would use it to detect sideways movement.

The RS indy shows positively correlated currencies as lines that move up and down in harmony with each other. In my screenshot below, you can see that the EUR (pink line) and CHF (yellow) are very highly positively correlated on the H4 — now look at a EURCHF,H4 chart and confirm the extent to which they move sideways. AUD (green) and NZD (blue) are quite highly correlated; as are USD (white) and JPY (purple). You can check AUDNZD,H4 and USDJPY,H4 charts and compare their degree of sideways-ness with EURCHF. Then pair two currencies that are moving in completely opposite directions (e.g. AUD and JPY) and have a look at their chart, for strong, clean moves.

Incidentally, I would not average down or use any martingale variant. I know that a lot of folk will disagree with me, but IMO they represent the antithesis of prudent money management.

David

Attached Image (click to enlarge)

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#456
Edited 1:28am Jun 8, 2012 12:53am | Edited 1:28am

pedma
Joined Jan 2010 | Status: Trader | 363 Posts

Quoting hanover

Disliked

Pedma,

It would depend on your definition of "sideways", and in which timeframe. For example a currency can be strong in one TF, and weak in another, just as the chart of a currency pair can be in an uptrend in one TF, and in a downtrend in another.

Ignored

Many thanks for your information David. Very helpful ....

Regarding TF , for example I'm using TF M5 & M15 for my trades normally. So, I must also see the RS indy plot (like your post at page #1) at the same TF: M5 & M15, if it's ok, then take action. Is that right ? Last time I thought that the "text" version is calculated only for the DAILY price, so it doesn't matter in which TF I am now, the indy will give me the same value ....

Using your image as example. so for trending trade, I must use TF H4, and trading the NZD/JPY currency (Blue vs. Purple). Is it the point ?

Quoting hanover

Disliked

In general, currencies that are positively correlated will have a similar strength readings, and their price chart tends to move sideways. Personally, I think the RS indy (the one that plots the squiggly lines — see post #1) is a better indication of correlation than either CSM (which plots the histogram) or the Henry Liu-like version (which simply plots the numeric values, based on the today's candle as it progressively takes shape — as in your screenshot).

For more info on how Henry uses his indicator, see his video....

Ignored

You're right. Using your RS indy can give me more clear information about the price moving from time to time, than just what I'm using now ("text" version).

Quoting hanover

Disliked

Incidentally, I would not average down or use any martingale variant. I know that a lot of folk will disagree with me, but IMO they represent the antithesis of prudent money management.

David

Ignored

I know that using "averaging" or especially "martingale" method is very very dangerous if the price is trending .... (normally this method doesn't use Stop Loss ...

.... ) So I thought that it can be used if we can catch the sideways moment ...

.... but now I understand, it's also not so easy ...

Btw, I will try both trending EA & martingale EA, using your very useful RS Indy ....

Thanks again
= pedma =

Good friends are more valuable than gold ...

#457
Jun 8, 2012 4:18am Jun 8, 2012 4:18am

hanover
Joined Sep 2006 | Status: ... | 8,112 Posts

Quoting pedma

Disliked

So, I must also see the RS indy plot (like your post at page #1) at the same TF: M5 & M15, if it's ok, then take action. Is that right ? Last time I thought that the "text" version is calculated only for the DAILY price, so it doesn't matter in which TF I am now, the indy will give me the same value ....

Ignored

Pedma,

Yes, I would say that is right, but I'm neither bold nor knowledgeable enough to say that it will work profitably, because I use the RS indy in a very different way - to determine money flows on the D1 (and possibly W1) TFs. The indy provides a proxy for macroeconomics, i.e. which national economies/currencies the market believes are strong, and which are weak. Then trading the strongest against the weakest potentially gives the trader access to the strongest, and cleanest moves.

However, I've not attempted use any of the strength indys to seek out sideways moving pairs, and/or on lower TFs (like M15/M5). That's primarily because I'm not an intraday trader. I find the moves on the longer TFs to be more reliable (some possible reasons: macroeconomic factors, greater cross section of participants, greater collective averaging, liquidity needed by heavyweight players, session considerations). Of course other traders may differ in their views, and their approach.

I can't say whether an approach will work profitably or not, unless/until I've tested it myself for several weeks. I get a lot of PMs from folk asking whether I think their strategy will work profitably, but unless it conforms very closely to one I've tested myself, I have absolutely no idea, and I take refuge in the fact that I am not a professional trader, but a mere programmer who dabbles in forex.

I chose the H4 for my previous screenshot only because it illustrated the points about correlations that I wanted to make.

You are correct, the text version of the strength indy is based on the daily candle, as it progressively grows. In that sense, it is TF-independent.

David

#458
Jun 8, 2012 7:29am Jun 8, 2012 7:29am

pedma
Joined Jan 2010 | Status: Trader | 363 Posts

Quoting hanover

Disliked

Pedma,

Yes, I would say that is right, but I'm neither bold nor knowledgeable enough to say that it will work profitably, because I use the RS indy in a very different way - to determine money flows on the D1 (and possibly W1) TFs. The indy provides a proxy for macroeconomics, i.e. which national economies/currencies the market believes are strong, and which are weak. Then trading the strongest against the weakest potentially gives the trader access to the strongest, and cleanest...

Ignored

Hi David,

Thank you very much .... you're really a great coder ...

Hope you always have green pips every day ...

Thanks
- pedma -

Good friends are more valuable than gold ...

#459
Jun 8, 2012 10:31pm Jun 8, 2012 10:31pm

lock.n.load
| Joined May 2012 | Status: Matthew 25:14-30; 2 Corinthians 9:8 | 36 Posts

Hi Hanover,
I noticed your CSM indicator, it seems to be a proportion of the timeframe's price range movement indicator....

If I were to have the following 4 conditions for the Relative Strength Indicator:

Put on a scale out of 10 instead of 100 (which i know i can't).
NumPoint is set to a particular starting date time.
The BasePoint to be the same point in time as NumPoint.
Have an identical TF to the CSM.

Does that produce the same mathematical results as your CSM indicator?

It looks like it would,
Thanks, I'm just trying to get my head around how Relative Strength works...
lnl

#460
Aug 8, 2012 12:36am Aug 8, 2012 12:36am

hanover
Joined Sep 2006 | Status: ... | 8,112 Posts

Quoting lock.n.load

Disliked

Hi Hanover,
I noticed your CSM indicator, it seems to be a proportion of the timeframe's price range movement indicator....

Ignored

LNL,

Just saw your post now, sorry. I don't subscribe to threads.

RS calculation is explained in post #7.
CSM calculation is explained in post #426.

These are significantly different calculations, showing strength/weakness from different angles. This has been done intentionally, so that the two indys can be used to confirm each other (or otherwise). You can build up a view of overall strength by studying multiple timeframes.

I am too busy working on commercial projects at the moment, to make changes to either indicator.

David

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