Fail Better

No problem :

Hi folks,

For those who attended the Tom's paid webinar this week, or have ever thought about how to measure what is correlated and what isn't you can either checkout this website: http://www.forexticket.biz/ or use the indicator attached to this post

The indicator is still a prototype e.g. I haven't fully verified my implementation of the correlation coefficient. So I'm hoping some of you may be able to do that. I've implemented the Pearson's Product-moment correlation coefficient (see wikipedia form more information). Differences beyond one decimal are expected due to price variance between brokers.

The key parameter for indicator are:

1. period: how many bars back you want to measure the correlation for (similar to a moving average period).
2. symbols_str: A list of symbols you want to test the correlation of (against that symbol in the chart).
3. price_mode: CLOSE=0, OPEN=1, HIGH=2, LOW=3, MEDIAN=4, TYPICAL=5, WEIGHTED=6 (see the MQL4 documentation for PRICE_MODE)

The symbols_str parameter is a delimited list of symbols, by default the its is delimited by a comma. If your broker uses commas in their symbol names you can change the delimiter. For example the default parameter is:

1. symbols_str = "EURUSD,GBPUSD,AUDUSD,S&P,DJ30,FT100,DAX30"
2. symbols_sep = ","

But if you can't use the comma can simply use a space like this:

1. symbols_str = "EURUSD GBPUSD AUDUSD S&P DJ30 FT100 DAX30"
2. symbols_sep = " "

You can supply up to 8 symbols to derive the correlation for (excluding the symbol of the chart you attach the indicator to).

The most recent fully calculated values are in a legend in the top right hand side of the screen.

I'll push the source code into my GitHub repository when I get a chance and post the link for those who are interested in the details.

Installation

1. Copy ninety47_correlation.ex4 to the <metatrade folder>\experts\indicators
2. Copy the libninety47.dll file into <metatrader folder>\experts\libraries

Where <metatrader folder> is your the location that Metatrader is installed e.g. C:\Program Files(x86)\MetaTrader

I don't think this indicator will work with MT5.

I compiled the DLL with debug symbols so if it breaks make a note of the error message before you just tell me it doesn't work.

If you have any question or troubles just ask.

Screenshot of AUDUSD vs. EURUSD, GPBUSD, S&P500, DJ30, DAX30 and FTSE 100.

A SFP i am in and several others that i spot scanning my H4 charts this morning.

Impressive success rate i should say. Thanks Wizard for bringing the SFP concept

hi rust, you trade the sfp on the 4hr , not on the 1hr tf ??

which tf works better ??

Hi buddy,
I think it's more important to incorporate it with some confluence (for example divergence or a clear support/resistance), than the time frame. To look at the whole picture that chart shows, not just the single bar.
I keep some examples that the_wizard posted and look them from time to time asking myself questions - what made them work, besides the bars itself?!
Anyway, i may not be the best person to ask, because i'm still new to this SFP thing. Trying to figure out many questions about it every day

I don't like to play on NFP, so i quit earlier on this one. For a very nice profit still!

Just wanted to post up a chart of a 15 minute stock chart (symbol: DD) that I came across. This stuff really does work on all time frames on equities as well as Forex.

SFP on AUDUSD
http://www.abload.de/img/audusdbqujq.gif

some ideas for next week

A possible path to the 1.0250

Just finished through the thread A pity that the_wizard don't post charts anymore here. Anyway, i will go for a second read of his posts. His early pages were pretty amazing

Hi all.

H1 SFP

http://i1084.photobucket.com/albums/...y/Untitled.jpg

https://lh5.googleusercontent.com/-y...+051012+H1.png

Duplicated version of Kerinsp EURUSD chart from post 4330

https://lh6.googleusercontent.com/-o...+051012+D1.png

Some D1 levels 'cause while I can't really see how the euro can keep going up (from a pure economics perspective) Ben has just pressed the CTRL-P button i.e. risk on to infinity and beyond.

http://cdn.memegenerator.net/instanc...0/26981929.jpg

Bounce at 1.2971-1.2956 (yeah, it's in there somewhere - lol) would be acceptable or an SFP at 1.3173 would be awesome also... Quite a lot of noise about 'the US job numbers are bullshit' so anyway... that's enough guessing for one evening. Gap down into 1.2970's? Yes please! OK, now I'm just fantasising really.

From the Financial Times....


Link to article: http://www.ft.com/cms/s/0/5456b1f6-0...#axzz28f7bSPqu

I saw a couple of other bullish headlines call for prices higher than USD$2000/oz before the end of the year. So ...

1. the Monthly ATR(14) indicates this is possible
2. are the headlines overly bullish?
3. how does the string NFP numbers play out in this (October 2012).
4. QE3, BoJ easy, Eurozone sovereign debit crisis
5. etc etc etc.

How are everyone else gauging sentiment?

1. AUDJPY unchange from last week waiting for break and re-test before entering limit sell.
2. EURUSD waiting for re-test of level I pulled last (see previous EURUSD post)... I had too fatter line on the level so it looked like an immediate re-test. Also looking for a short off 1.3084.
3. Cable: Looking at a break an re-test at around 1.6067s
4. GBPJPY: the trend line that was resistance became support and is now broken low again. 3rd time back to the 127.64 area on a break high or possible limit buy on the 126.45 (I haven't traded this cross but I've notice it kinda churns on the levels so a limit buy could be the trade but will likely wait till London open).

From last week I still have a sell limit on USDCHF.
And will be keeping an eye on AUDUSD and NZDUSD.

Hi Kerin great charts! its interesting to the NZD crosses are more tradable than the AUD crosses at the moment.

What I'm watching this week.

continued...

Just a reminder for the bank holidays today