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Super Duper Scalper

  • #1
  • First Post: Edited 12:07pm Nov 1, 2012 8:10am | Edited 12:07pm
Hello all,
I want to introduce a new method of trading. It is based on selecting the Strongest vs Weakest currency. As you know that forex trading is based on comparison of two currencies. So more stronger the base currency and more weaker the quote currency or vice-verse there will be more profit you can make. So if you pair the strongest vs the weakest you get the most profit out of this trade. I have tried it as scalping strategy. For detailed understanding of the theory behind this system refer to this article: http://theforexheatmap.blogspot.ca/2...s-of-spot.html. In this article, the most important line is "99% of trading systems are built upon the individual pairs NOT individual currencies, that is why majority of systems fail".

Everyone should try this strategy on demo and share the results here.

I will be using two indicators:
1. Forex Heat Map
2. Super Trend

Open following timeframes of Forex Heat Map indicator:
1. M1
2. M5
3. M15

I open M1, M5 &M15 on a single window which also has the chart on it. On the other window I open H1, H4. You may toggle the screen by pressing Ctrl+ Tab.

Entry:
1. Start from H4 and H1 see which pairs are the most green and most red (meaning red and green). This is to make sure you get the bigger picture.
2. Look at M1 & M5 and M15 to look for the strongest pair (7 or 6 lime /green colored horizontal bars on Super Heat Map) & the weakest pair.
3. Now pair the strongest currency weakest currency

Exit:
1. When the strongest starts to become weak (most signals turn red) and weakest starts to become strong (most turn green).

Example:
In picture below you may see that NZD is strongest and CHF is the weakest. So, BUY the NZDCHF.

P.S. I want the volunteer MQL programmer to code another wonderful indicator which I have requested here:
http://www.forexfactory.com/showthre...079#post615207

Suggestions and recommendations are warmly welcomed

And we can bring a one of the greatest system if I get the indicator that I have asked for, I assure you about that.
Attached Image (click to enlarge)
Click to Enlarge Name: sample 1.JPG Size: 97 KB
Attached File(s)
File Type: zip Super Duper Scalper.zip   4 KB | 3,231 downloads
  • #2
  • Nov 1, 2012 11:49pm Nov 1, 2012 11:49pm
excellent idea...following u
  • #3
  • Nov 2, 2012 12:08am Nov 2, 2012 12:08am
subscribed!
  • #4
  • Nov 2, 2012 12:21am Nov 2, 2012 12:21am
I thought about something similar, and that would be to do the exact opposite.

Instead of Buying the Strongest and selling the weaker i would sell the strongest and Buy the weaker. Assuming all things come to and end.

We'll..... you can count me in!
  • #5
  • Nov 2, 2012 3:32am Nov 2, 2012 3:32am
hi, thanks 4 the system.. i just now used and would say ur currency heat map cant be trusted as it changes colour from green to red n vice versa by every tick in every time frame even in H4. thanks
  • #6
  • Nov 2, 2012 3:48am Nov 2, 2012 3:48am
I would have thought GREEN is the strong currency and RED was the weak currency. But I've never used a heat map, only strength meters.

juicyt
"Even if you fall down face first, you still went forward."
  • #7
  • Nov 2, 2012 3:56am Nov 2, 2012 3:56am
Strategy looks good aarizahmad. I'll give it a whirl and see how it goes.

Thanks
  • #8
  • Nov 2, 2012 3:08pm Nov 2, 2012 3:08pm
Quoting juicyt
I would have thought GREEN is the strong currency and RED was the weak currency. But I've never used a heat map, only strength meters.

juicyt

Same here...so Red is the strong, right?
  • #9
  • Nov 2, 2012 5:52pm Nov 2, 2012 5:52pm
I think you have to read it from left to right. Not top to bottom. Bit counterintuitive. Pardon my English. Cheers.
  • #10
  • Nov 2, 2012 8:42pm Nov 2, 2012 8:42pm
Hey guys

There seems to be a little confusion about the indicator, aariz please correct me if Im wrong, but if you go into the indicator's edit options you will see that there are 5 colors, strong buy, weak buy, neutral, weak sell and strong sell. You can keep the original colors or change the colors to suit. I dont think the color is important......I think its more about matching the weak currency to a strong currency and trading appropriately.

Im giving it a try in the new few weeks to have a gauge of how well it works.

Thanks for the thread aariz, and good luck to all.
What you do is a reflection of you....what I do is a reflection of me.
  • #11
  • Nov 2, 2012 11:28pm Nov 2, 2012 11:28pm
Quoting Ezzy
Hey guys

There seems to be a little confusion about the indicator, aariz please correct me if Im wrong, but if you go into the indicator's edit options you will see that there are 5 colors, strong buy, weak buy, neutral, weak sell and strong sell. You can keep the original colors or change the colors to suit. I dont think the color is important......I think its more about matching the weak currency to a strong currency and trading appropriately.

Im giving it a try in the new few weeks to have a gauge of how well it works.

Thanks for the...
Yes you are cent percent correct. There are 5 colors in the indicator and each one shows the strength of the pair. they represent as follows:
1. Lime (sparkling green) = Very strong
2. Green = Strong
3. Black = no change
4. Fire Brick = weak
5. Red = very weak

Please try to pair the Lime (very strong) with the Red (very weak). This is what I do.

@ All
I am waiting for your trading results

Happy trading
  • #12
  • Nov 3, 2012 7:07am Nov 3, 2012 7:07am
Quoting aarizahmad
Yes you are cent percent correct. There are 5 colors in the indicator and each one shows the strength of the pair. they represent as follows:
1. Lime (sparkling green) = Very strong
2. Green = Strong
3. Black = no change
4. Fire Brick = weak
5. Red = very weak

Please try to pair the Lime (very strong) with the Red (very weak). This is what I do.

@ All
I am waiting for your trading results

Happy trading
Hi arizahmad,

You sad earlier colour 'red" means strongest and colour green means weakest.We have to decide on the colours first -which one is strong and which one is weak to get the same results. Hope you agree.
Regards,
Roy
  • #13
  • Nov 3, 2012 7:20am Nov 3, 2012 7:20am
Quoting RoyPK
Hi arizahmad,

You sad earlier colour 'red" means strongest and colour green means weakest.We have to decide on the colours first -which one is strong and which one is weak to get the same results. Hope you agree.
Regards,
Roy
Hi,
I think there is some confusion regarding color.

I am posting a image that clearly shows that CAD is weakest in all smaller time frames. But JPY, GBP & CHF have been the strongest currencies in M1, M5 & M15 TFs respectively.

I would have posted an image that displays 1 strongest pair and 1 weakest pair but the market is closed.
Attached Image (click to enlarge)
Click to Enlarge Name: post img1.JPG Size: 106 KB
  • #14
  • Nov 3, 2012 5:41pm Nov 3, 2012 5:41pm
I am liking the way this going so far, and how clear of an indication it gives. Will be following the strategy to see.
All posts are my personal opinion
  • #15
  • Nov 3, 2012 7:58pm Nov 3, 2012 7:58pm
Between post # 12 and Post # 14

I am officially more confused than ever......



One post says green = strong

And the other says

Green = weak
  • #16
  • Nov 3, 2012 11:21pm Nov 3, 2012 11:21pm
Aariz, I hope you don't mind me helping in clarifying some of the issues, as I understand them.

Guys and gals, the focus of this trading strategy is to match the strongest currency against the weakest currency, and then trade accordingly.

Please, everyone who is confused, double click the heatmap indi on the your chart, click edit, and look in the inputs tab, amongst other, you will find the following;

Strong up
Weak up
No move
Weak down
Strong down

It doesn't matter what color you have next to these variables, as long as you match the strong up color with the strong down color. If you want to use red, blue, pink, yellow, it doesn't matter, as long as you match the currency showing the most Strong up signals with the currency showing the most Strong down signals.

Let me recap....

It doesn't matter what color you are using, as long as you match the currency showing the most Strong up signals with the currency showing the most Strong down signals.

Happy trading to you all.
Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #17
  • Nov 4, 2012 12:19am Nov 4, 2012 12:19am
Quoting Ezzy
Aariz, I hope you don't mind me helping in clarifying some of the issues, as I understand them.

Guys and gals, the focus of this trading strategy is to match the strongest currency against the weakest currency, and then trade accordingly.

Please, everyone who is confused, double click the heatmap indi on the your chart, click edit, and look in the inputs tab, amongst other, you will find the following;

Strong up
Weak up
No move
Weak down
Strong down

It doesn't matter what color you have next to these variables, as long as...
This is true, however you need to know which color represents the strong and which one represents the weak.

Without knowing this you will be placing trades in the wrong direction.

If color was not important the author would not mention anything about color at all or try to explain it (but he did, several times), there just seems to be a communication barrier. Soon there will be clarity
  • #18
  • Nov 4, 2012 1:28am Nov 4, 2012 1:28am
for horizonal
Green = Strong UP
Red = Strong Down

for vertical
Green = Strong Down
Red = Strong Up

i hope this help
  • #19
  • Nov 4, 2012 1:35am Nov 4, 2012 1:35am
Quoting Fx_Pipin
This is true, however you need to know which color represents the strong and which one represents the weak.

Without knowing this you will be placing trades in the wrong direction.

If color was not important the author would not mention anything about color at all or try to explain it (but he did, several times), there just seems to be a communication barrier. Soon there will be clarity
Hey Fx pipin

100% correct about the communication, I'm hoping I'm not making things worse here.

So which color then?.......the author may be using green for strong buy, you may use blue for a strong buy, I may be using pink, the color is not the issue, the issue is that we are all identifying EU as a strong currency or AU as a weak currency, I hope this makes things clearer, not more confusing

I think, I'll leave it up to the author to clarify further, and wont interrupt any more regarding colors of the indi.

Have fun everyone.
What you do is a reflection of you....what I do is a reflection of me.
  • #20
  • Edited 2:40am Nov 4, 2012 2:02am | Edited 2:40am
Quoting Ezzy
Aariz, I hope you don't mind me helping in clarifying some of the issues, as I understand them.

Guys and gals, the focus of this trading strategy is to match the strongest currency against the weakest currency, and then trade accordingly.

Please, everyone who is confused, double click the heatmap indi on the your chart, click edit, and look in the inputs tab, amongst other, you will find the following;

Strong up
Weak up
No move
Weak down
Strong down

It doesn't matter what color you have next to these variables, as long as you match the...
This is what I mean exactly. I may be using other colors than you may be using.
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