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Trading system using relative strength

  • #2,321
  • Aug 13, 2012 2:33am Aug 13, 2012 2:33am
hello why nothing appears?
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  • #2,322
  • Dec 28, 2012 3:22am Dec 28, 2012 3:22am
Hello everybody,I"m new from this site but this Indi look very good.I use CC-Diff (v.2.0) but I can"t put in my window to see MTF.What can I do???Please help me!
  • #2,323
  • Jan 14, 2013 4:35pm Jan 14, 2013 4:35pm
Could someone Please explain what version is the lasted release of this indicator?

Thank you

-PGH
  • #2,324
  • Jan 24, 2013 5:47am Jan 24, 2013 5:47am
Ok it looks like the latest is CC-Diff V2.0, Correct?

Also

How does this indicator actual work? I assume it is based of of something here http://articles.mql4.com/484 .
And what does the setting trade level do? It is set to 2 can someone explain it?
  • #2,325
  • Feb 7, 2013 8:06pm Feb 7, 2013 8:06pm
thanks alot man it is good straregy

thx
adel asran
  • #2,326
  • Feb 9, 2013 9:58pm Feb 9, 2013 9:58pm
Just finished reading about 80% of this thread.. all the creators abandoned this thread from what i've seen in the last few years.. this is a wonderful system, i can't believe this isn't as active as it was back in the day. i use RSI heat maps from other websites, but never on my charts.. this will help me alot. thanks ES, Ronald Raygun, Steve Hopwood, FerruFx and all the contributors that built this.. i've been looking for a multi currency RSI heat map for metatrader for like 2 years.. can't believe i never saw this thread lol.. anyway, can't wait til monday thanks guys
  • #2,327
  • Feb 14, 2013 3:25pm Feb 14, 2013 3:25pm
Quoting Ronald Raygun
Level 5? I don't remember putting a level anything there. Quick checklist:

  1. Lot size not 0?
  2. EA count correct?
  3. Other comments? (Upper left corner of the chart)


True.



I haven't quite figured out what to do with brokers with symbols > 7 characters.

What the EA does is it takes the first three letters of the symbol and calls that the "Base Currency" the EA then takes the next three letters of the symbol and calls that the "Counter Currency"

Are those correct?

Hi, Ronald :-)

I might be mistaken, buy didn't you explain a bit back in this thread that 'eachtickmode' should be set to 'false' to stay in line with the rules of the RS trading system?

regards and thanks for sharing your EA,

Ronald
95% of the people don't believe 100% they can win, that's why they lose
  • #2,328
  • Edited Feb 16, 2013 5:18am Feb 15, 2013 8:14am | Edited Feb 16, 2013 5:18am
Quoting Greenstar
BKG: It should do that. There are various indicators on this thread. I'm back here to finishing reading it in entirety because my results have been so good but a mystery has appeared.

Here is what I am noticing: the template called "complete_cffp" does update - in fact suggestions are changing in between candle closes! That template has histograms from 240 all the way to monthly, plus boxes of suggested trades. It appears to be to be the exact same version of the indicator, "CCFpDiff_[v2.0]" that I have attached separately on various charts.......
Hi, Greenstar,

I'm fiddling around with this system too, the last couple of days, and I like this template a lot. Right at this moment the JPY is weak on the M15, M30 and H1 TF and so the suggestions are accordingly: BUY the EURJPY, GBPJPY and CHFJPY. And that's exactly what I did... Let's wait and see what happens...

By the way, all the graphics from this template are 'Trade Level 2', but still they give different results, for instance one TF M30 shows 7 suggestions while the other one shows 'No Pair To Trade' - you have any idea what makes up for the difference between them (I will look into it later, but if someone could already explain it to me now, that would be great) --> update: found the answer, it's about using different settings for 'Use.Current' and 'Use.Bar.instead.of.MA' (CC-Diff_[v2.0] indicator)...

Update:
----------

Pfew... Guess this wasn't the right way to open and manage trades, changing time frames on my charts, adjusting the CC-Diff_[v2.0] to the new tf and trying to take some snapshots at the same time... Anyway, while I was doing all this, I noticed the big last candles on these 1 hour charts and since it's friday today, I thought: 'oh, oh, this could get hairy' :-) In just a couple of minutes my three open trades (lot size 0.04) were up to 25 euro and my first reaction was to close them quickly, cash in and call it a day. BUT... at the same time I realized that this was more about learning to trade this system, than making a few quick bucks.

Anyway, here's some screenshots. What made me close these trades in a hurry, after about an hour of watching them go in and out of profit, was the fact that the 'Basket ALL' view started giving me contradictory signals: the H1 suggestions from the left graph said to stay in, while its neighbor told me to get out (buy versus sell).

Net result of all this is 36 pips (12 euro) in about one hour, which is a deal I wanna sign up for any day ;-)

By the way, this morning I've netted 400 pips too (D1 TF, 7 trades, opened an hour after midnight GMT, 'cause I'm an hour ahead of GMT); I must say I'm beginning to like this system. Thanks a lot, ES, FerruFx and all the other wonderful souls who go so far out off their way to try to make all our lives a little more enjoyable!
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95% of the people don't believe 100% they can win, that's why they lose
  • #2,329
  • Feb 15, 2013 11:59am Feb 15, 2013 11:59am
Quoting FXing
I have been following this thread and I have to say I have lost a lot of money using this system. It's a pity but it's true, I think relative strenght it's not the way to earn money.
Not for you, maybe... Have you read through this thread??? So... speak for yourself :-)

Regards,

Ronald
95% of the people don't believe 100% they can win, that's why they lose
  • #2,330
  • Feb 15, 2013 12:04pm Feb 15, 2013 12:04pm
Quoting Ronald123
Not for you, maybe... Have you read through this thread??? So... speak for yourself :-)

Regards,

Ronald

haha for real.. my stats from a couple days ago. starting again next week
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  • #2,331
  • Edited 5:17am Feb 16, 2013 4:23am | Edited 5:17am
Quoting qqsamudra
Here we go for my self i read the histo instead the instruction and make my own analysis
Still don't understand why these graph pairs (1-2, 3-4, 5-6, etc.) appear to be the same, but give different readings - I've checked the settings for both the H1 graphs and they are identical as far as I can tell - probably the hard coding is different. I have yet to finish reading this thread, but so far not a word of explanation regarding this, although there have been other participants struggling with this too... Yesterday I closed a small three pair basket one hour early (as I found out later), because of the second H1 graph showing opposite suggestions, compared to the first one (YPY was weak when I opened the trades at 14:00 GMT (8 red blocks) and this remained the same after the opening of the next candle, at 15:00 GMT; the second H1 graph, however, then claimed the JPY was strong, all of a sudden (6 green blocks)... This next candle would have netted me another 100 pips or so :-(

Any info about this would be very welcome.

UPDATE: it's about using different settings for 'Use.Current' and 'Use.Bar.instead.of.MA' (CC-Diff_[v2.0] indicator)...

Good luck with this system, everybody!

Ronald
95% of the people don't believe 100% they can win, that's why they lose
  • #2,332
  • Feb 16, 2013 4:31am Feb 16, 2013 4:31am
Quoting allisonmagic
haha for real.. my stats from a couple days ago. starting again next week
Hi, allisonmagic. Nice to see your positive results too. What made you (and your results) turn around, if you don't mind me asking?

regards,

Ronald
95% of the people don't believe 100% they can win, that's why they lose
  • #2,333
  • Feb 16, 2013 4:59am Feb 16, 2013 4:59am
Quoting kepo38
i think, this system LOSS.. i tried it.
i dont understand
Hi, kepo38. With so many positive statements, if I had to chose a 'winner' between you and this system,
guess who (or better, 'what') it would be?

Of course you will always have losses (even if a system has a 70-80% success rate, you still will lose 20-30
trades out off a hundred - and the losses, as well as the winners might happen in 'clusters', which causes
traders to become either too confident or too depressed). 'Mark Douglas' ('Trading in the Zone') has some
interesting video clips on youtube about this:

Mark Douglas- Trading Psychology

Happy pipping!

Ronald
95% of the people don't believe 100% they can win, that's why they lose
  • #2,334
  • Feb 16, 2013 6:09am Feb 16, 2013 6:09am
It's cool,this thread live again !!
  • #2,335
  • Feb 16, 2013 12:10pm Feb 16, 2013 12:10pm
Quoting Ronald123
Hi, allisonmagic. Nice to see your positive results too. What made you (and your results) turn around, if you don't mind me asking?

regards,

Ronald

turn around ?
  • #2,336
  • Feb 16, 2013 12:17pm Feb 16, 2013 12:17pm
Quoting allisonmagic
turn around ?
Sorry, allisonmagic, looks like I got carried away and mixed you up with somebody else (Posted by FXing: "I have been following this thread
and I have to say I have lost a lot of money using this system. It's a pity but it's true, I think relative strenght it's not the way to earn money.")

Regards,

Ronald
95% of the people don't believe 100% they can win, that's why they lose
  • #2,337
  • Feb 16, 2013 12:22pm Feb 16, 2013 12:22pm
Quoting Ronald123
Sorry, allisonmagic, looks like I got carried away and mixed you up with somebody else (Posted by FXing: "I have been following this thread
and I have to say I have lost a lot of money using this system. It's a pity but it's true, I think relative strenght it's not the way to earn money.")

Regards,

Ronald

I personally do not think this guy has been doing his homework correctly. There are specific pairs that need to be studied apart from others. I personally don't care what i trade as long as it's consistent. I've stuck to the Yen as a Counter currency for all my trades. JPY has a certain range it likes to bounce from and to, so i stick to it and it's profitable.
  • #2,338
  • Feb 16, 2013 1:07pm Feb 16, 2013 1:07pm
Quoting allisonmagic
I personally do not think this guy has been doing his homework correctly. There are specific pairs that need to be studied apart from others. I personally don't care what i trade as long as it's consistent. I've stuck to the Yen as a Counter currency for all my trades. JPY has a certain range it likes to bounce from and to, so i stick to it and it's profitable.
Sounds like a sensible approach to me. I've just started out at this 'Relative Strength' trading, but I do have some experience at 'basket' trading (mainly using price action, strong support/resistance zones, pivots and 'pin bars' and the 'behavior' of gold to determine the future direction of the euro and the us dollar, after which I opened multiple trades, based on correlation/anti-correlation). Anyway, this 'currency strength' thing is much easier to execute, mostly thanks to the hard work of FerruFX who provided these handy indicators, taking the system, introduced here by ES Trader, to the next level.

My plan is to simply read the indicators suggestions, determine what the strongest/weakest currencies are and open trades accordingly - lately, it seems indeed to be the JPY who's in charge of the game, but I'm sure this will vary as we move along (don't make much difference, I guess, because the method remains the same, no matter which currencies are involved, although one has to keep an eye on things, especially to take profit/loss in function to the 'personality' of the currencies traded - less volatile/smaller range, etc.).

As to exit points: when I was learning this former basket trading system, we used to start with taking profit at the next strong support/resistance level (pivots), but considering the ones from up to three days back, for the H1 TF... The distance between entry and first pivot (to keep it simple) was referred to as the 'guaranteed profit zone'. Our stop was usually placed behind these zones of strong support/resistance. Lately, I've been trying to find a way to gain like 40-50 pips a day, increasing the lot size, but for now I will go back to 'more pips, smaller lot size', which seems to be the most logical thing to do when utilizing the H4 and D1 time frames. Not clear about this, but after reading through this thread, it looks like the issue of taking profit and placing stop loss is a major concern for most of the traders posting here.

We'll see how it goes. Wish everybody good luck with this interesting system,

Ronald
95% of the people don't believe 100% they can win, that's why they lose
  • #2,339
  • Feb 16, 2013 1:22pm Feb 16, 2013 1:22pm
Quoting Ronald123
Sounds like a sensible approach to me. I've just started out at this 'Relative Strength' trading, but I do have some experience at 'basket' trading (mainly using price action, strong support/resistance zones, pivots and 'pin bars' and the 'behavior' of gold to determine the future direction of the euro and the us dollar, after which I opened multiple trades, based on correlation/anti-correlation). Anyway, this 'currency strength' thing is much easier to execute, mostly thanks to the hard work of FerruFX who provided these handy indicators, taking...


Use the original indicator, don't use the ccfp 2.0. the original ccfp allows you to see the rsi level's for more accurate entry..


my exit is very simple.. when i profit 40 pips.. i trail the entire basket by 10%


also.. the newest ccfp's use MA's instead of RSI
  • #2,340
  • Edited 4:17pm Feb 16, 2013 2:18pm | Edited 4:17pm
Quoting allisonmagic
Use the original indicator, don't use the ccfp 2.0. the original ccfp allows you to see the rsi level's for more accurate entry..


my exit is very simple.. when i profit 40 pips.. i trail the entire basket by 10%


also.. the newest ccfp's use MA's instead of RSI
I've already set up a chart with both the newest version (CC-Diff_[v2.0]) AND the old version (CCFp_v1.0.2cvert)
on it - also put the old indicator on a few smaller time frame charts, on a demo account; gonna experiment a little,
next week, to see how reliable this indicator is for scalping a few pips here and there. I've read that it adjusts to
whatever time frame its put on...

I don't understand what you mean with 'the newest ccfp's use MA's instead of RSI', I thought the indicator uses two
methods to determine relative currency strength: bars or MA's, which can be set by the user (''Use.Bar.instead.of.MA= false/true').
Don't see what this has to do with the 'RSI levels' (you're referring to the 30-50-70 levels of the RSI Indicator, right?).

Thanks for for your help, it's always good to exchange information/experience with people who are actually trading, not only
reading about it.

Update: by the way, I've tested this 'CloseTrades_MaxEquity_or_MaxLoss' EA and it works like a charm, setting what you're willing
to lose versus what you're trying to gain - and/or using it to get out of all trades, if needed, by changing one of both settings
to a very low number, like 1 or so. Am playing with the idea of taking a fixed profit/loss within the first half hour-one hour after
opening a basket too...

Cheers,

Ronald
95% of the people don't believe 100% they can win, that's why they lose
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