Super Duper Scalper

I think you have to read it from left to
right. Not top to bottom.

Top to bottom interpretation is what causes the confusion. Read it from left to right and the explanation will make sense. And you'll see that green meabs strong and red weak.

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.

ya bro you are right...you made it crystal clear..... colour is not da main issue ....main thing is to find or pick strong pair and weak pair or strong base currency vs weak quote.. sorry to say ...some people are living this world...they always trying to find black spot on milk white paper....so called whole searcher.....

i think we should till tht time , so a thread starter can upload the further stuff related with system so we can know that hwo to practically do the trading with this system

Hi, first sorry for my English..

this Currency HeatMap Indicator created by mladen from TSD. the indicator only show you 'at the moment' price change not 'the strength trend' becouse it's only compare previous candle and current candle close price (running price) from related timeframe.

this is part of code which determine 'the color'

//==============================================

for (t = 0; t < ctimesLen; t++)
for (i = 0; i < cpairsLen; i++)
for (k = i+1; k < cpairsLen; k++)
{
string symbol = cpairs[i]+cpairs[k]+addition;
double price = iClose(symbol,aTimes[t],0);
bool normal = true;
bool exist = true;

if (price == 0)
{
symbol = cpairs[k]+cpairs[i]+addition;
price = iClose(symbol,aTimes[t],0); <=== 'Current Running Price'
normal = false;
}
if (price == 0) exist = false;

double close = iClose(symbol,aTimes[t],1); <== Previous Candle
double high = iHigh(symbol,aTimes[t],1); <== Previous Candle
double low = iLow(symbol,aTimes[t],1); <== Previous Candle
//
for (int l=0; l<2; l++)
{
color theColor = DoesNotExist;
if (exist)
{
if (!normal)
while (true)
{
if (price > high) { theColor = StrongUp; break; }
if (price > close) { theColor = WeakUp; break; }
if (price== close) { theColor = NoMove; break; }
if (price < low) { theColor = StrongDown; break; }
theColor = WeakDown; break;
}
else
while (true)
{
if (price > high) { theColor = StrongDown; break; }
if (price > close) { theColor = WeakDown; break; }
if (price== close) { theColor = NoMove; break; }
if (price < low) { theColor = StrongUp; break; }
theColor = WeakUp; break;
}
}
//===================================================

It is also still some bug here and there, so it will make you confused.. if you don't know 'how it work'.

It will be different if the heatmap indicator comparing more 'range' of candles so it can recognize raising strength or falling strength of currencies in short, mid, and long range of times.

btw, I modified this indicator only for 'visual' convenience, not in how it calculate the 'strength' because need more time to do that

my modified version need only one subwindow to display several time frame. I reduced the size of the color block and font size.

you don't need to add more sub windows to add more TimeFrame, just edit indi parameter
extern string TimeFrames = "M1;M5;M15;H1;H4;D1";
let say you just want to see M1, M5, and H1
then you can change the input at indicator setting like this
extern string TimeFrames = "M1;M5;H1";

Default color for this modified version
extern color StrongUp = Lime;
extern color WeakUp = Green;
extern color NoMove = Aqua;
extern color WeakDown = Maroon;
extern color StrongDown = HotPink;
extern color DoesNotExist = Blue;

the brighter color the stronger and the dimmer color the weaker..

I Also suggest, if you using 'heatmap' don't forget to look at USD Index, because still 'USD' driving the markets..

I Give you my USD Index version Indicator but your broker should have USDSEK pair to make this indicator work...

Hope this help.

At the end of the day regardless of all the posts that followed (including my post), what you wrote was indicated in your picture.. so don't worry about the colour just keep going with what you started.

juicyt

Lol it's really not that confusing. Read it left to right. If your unsure pull up a 5min chart and compare just check the candle is higher/lower than the open

Thanks for the indi btw! It's very handy in determining the overall strength & trend of a pair. Good luck with your system.

This Helped.

Thanks!

I will continue to forward test.

Great post! Nice indicator posted as well, while most of us depend our trading solely on indicators and price action, the theoritical explanation on currency strength itself is really impressive! thanks, it definitely helps me understand alot more than where i am last week!.

Fyi, i tried this method since monday on a demo account. It's really impressive with basket trading. I had like averaging 100 pips a day, and around 300+ pips for today standalone. Sharing a pic of my wed trading.

Thanks again for sharing!

What do you mean by "basket trading"?

Hi traders,

Interesting indicator. Is there a reason why the horizontal colours and vertical colours are opposite? How would it look if both vertical and horizontal are the same? Clearer maybe? A line of horizontal greens meeting a line of vertical greens (or whatever colour you've assigned for ups and downs) might be easier to spot. Any thoughts or have I missed something?

This may help all..

http://www.forexfactory.com/showthre...163158&page=27

Post # 398

Just to clarify, and show the way I read the currency heat map:
First: To select the currencies: See the vertical column and pick the currencies with all/most slots at the same color, the color doesn't matter. The vertical column doesn't show direction, but power.
Second: To select the up or down pair: we already pick up the 2 or 3 currencies, now see the horizontal column (this is the direction) if all/most are green the trend is up; red the trend is down. This column show direction.
I use it to match the strong with the weak, but I trade acording to my system, you have to know how to read the chart, because is a common thing that when you see the currency meter, the price is already over buy/sold.
I hope this help.
Best of luck.

Hope This helps.

Paul,

hmmm....?

by the time you establish the strongest v weakest currency and enter trade, the strongest weakest may change within minutes then your trade goes against you. thats the problem you will have with this method.

Hi Mr C,

do you have a template for your showing chart?
Would be great.

Hi, I used the picture from post 13 on page 1 for the example, I don't use this indicator or have a template if I did use it I would read post 24 on page 2 and use the all in one subwindow version.

Paul,

Hi KLAD,
Thanks for the better visual modification. It makes it easier to to read.
Could you also be kind enough to modify this indicator to base the price NOT using the CLOSE but on the Price_Median --> high + low divide by 2
THANKS

Highway

Hi Highway, here we go, just switch parameter UseMedian from false to true...
but please check in the code is that what you want exactly..?

hope it help

nice indi..
thanks for sharing master KIADS
I use top down analysis from H1 to M5 to see the moment price change

but this indi doesn't work in micro account.could you modify this indi to work for micro account?