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Trading system using relative strength

  • #2,341
  • Feb 16, 2013 2:23pm Feb 16, 2013 2:23pm
Quoting Ronald123
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...
my bad, i was looking at the code of 1.2 lol.. i have to check out the 2.0 raw code


in 1.02 there is no RSI settings whatsoever.. it is based off MA crosses
  • #2,342
  • Feb 16, 2013 2:27pm Feb 16, 2013 2:27pm
Quoting allisonmagic
my bad, i was looking at the code of 1.2 lol.. i have to check out the 2.0 raw code
No problem, allisonmagic

How long have you been trading this system? And overall profitable or not? Demo/live?
95% of the people don't believe 100% they can win, that's why they lose
  • #2,343
  • Feb 16, 2013 2:29pm Feb 16, 2013 2:29pm
tell me something.. where in 2.0 do you see any RSI level settings ? or any RSI settings whatsoever ? all i see is MA settings


Quoting Ronald123
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...
  • #2,344
  • Feb 16, 2013 2:31pm Feb 16, 2013 2:31pm
Quoting Ronald123
No problem, allisonmagic

How long have you been trading this system? And overall profitable or not? Demo/live?

I've been demo testing the RSI indicator based on this system for about a month.

I've been using RSI in trading for about 2 years


basket trading RSI seems consistently profitable
  • #2,345
  • Feb 16, 2013 2:34pm Feb 16, 2013 2:34pm
I started in this thread, then moved over here

http://www.forexfactory.com/showthread.php?t=123284

part 2 .. from there i've used the KG RS 1.1 indicator which is what i'm using now
  • #2,346
  • Feb 16, 2013 2:44pm Feb 16, 2013 2:44pm
Quoting allisonmagic
tell me something.. where in 2.0 do you see any RSI level settings ? or any RSI settings whatsoever ? all i see is MA settings
Nowhere, allisonmagic, the confusion about my text is caused by the fact that there's a 'MT4 RSI Indicator', which is used with the levels 30 (oversold), 70 (overbought) and 50 (similar to the zero level of, for instance the MACD) and I thought you were referring to these levels being used by the old CCFp Indicator...

As to the 'bar' or 'MA' method used to determine 'Relative Currency Strength', I don't think that anybody has figured out (yet) which method is more reliable. While I'm writing this, I notice your statement: 'I've been demo testing the RSI indicator based on this system for about a month.' and 'I've been using RSI in trading for about 2 years'... Now I'm really getting confused

Is this indicator using RSI levels or not; did you look into the code? (it's a EX4 file, so one has to decompile it in order to edit/investigate the code).

I'm a fan of the MT4 RSI Indicator too - for one thing, it's quite good to keep you out off choppy markets, for which I use the extra levels 45 - 55.
95% of the people don't believe 100% they can win, that's why they lose
  • #2,347
  • Feb 16, 2013 2:48pm Feb 16, 2013 2:48pm
Quoting Ronald123
Nowhere, allisonmagic, the confusion about my text is caused by the fact that there's a 'MT4 RSI Indicator', which is used with the levels 30 (oversold), 70 (overbought) and 50 (similar to the zero level of, for instance the MACD) and I thought you were referring to these levels being used by the old CCFp Indicator...

As to the 'bar' or 'MA' method used to determine 'Relative Currency Strength', I don't think that anybody has figured out (yet) which method is more reliable. While I'm writing this, I notice your statement: 'I've been demo testing...

i've been demo testing KG RS 1.1, it's based on this system here. i should have clarified that a little better.. i started in this thread, moved over to the second part of this after they stopped developing the indi's..


i can decompile ex4's no problem.. however 2.0 is locked so i cannot decompile it
  • #2,348
  • Feb 16, 2013 2:53pm Feb 16, 2013 2:53pm
i have the raw code for this, and many other ex4's


this one uses RSI
Attached Image (click to enlarge)
Click to Enlarge Name: Untitled.png Size: 144 KB
  • #2,349
  • Feb 16, 2013 2:56pm Feb 16, 2013 2:56pm
Quoting allisonmagic
i've been demo testing KG RS 1.1, it's based on this system here. i should have clarified that a little better.. i started in this thread, moved over to the second part of this after they stopped developing the indi's..


i can decompile ex4's no problem.. however 2.0 is locked so i cannot decompile it
Yes, I took a quick look there and noticed the newest indicator from here has been made available there too...

I'm not gonna mix things up at this point, the RS System is pretty clean and what I've learned so far in trading is that, once
a profitable system is found, one should start to put more effort into trying to improve the trader instead of the system at hand
95% of the people don't believe 100% they can win, that's why they lose
  • #2,350
  • Feb 16, 2013 2:57pm Feb 16, 2013 2:57pm
yes, i just like to be able to visually watch rsi level's for each currency.. that's why i started using the newest versions of this systems indicator

ie; KG RS 1.1
  • #2,351
  • Feb 16, 2013 2:59pm Feb 16, 2013 2:59pm
Quoting Ronald123
Yes, I took a quick look there and noticed the newest indicator from here has been made available there too...

I'm not gonna mix things up at this point, the RS System is pretty clean and what I've learned so far in trading is that, once
a profitable system is found, one should start to put more effort into trying to improve the trader instead of the system at hand

no i'm actually done looking .. i've finished my search and i don't need any more updates at this point.. KG RS 1.1 is where i finished my search
  • #2,352
  • Feb 18, 2013 1:12am Feb 18, 2013 1:12am
Quoting magft
Try this one

Mike
This EA is very handy, but it doesn't handle the 'off quotes' bs from your broker very well : '2013.02.18 03:45:02'87007347': order #2530337 buy 0.02 GBPJPY closing at 145.875 failed [Off quotes]'

So, if you leave your trades in the hands of this EA, you might walk into a nasty surprise the next morning (or whenever you're checking on how things are going). Would be nice if someone could modify the code so it keeps sending requests to close a trade after getting the 'off quotes' (or other 'error messages') from your broker. In my case it wasn't too bad: the EA closed all trades, except the one shown here, which was still running when I got up this morning. It was close to the 'max equity' amount as specified by me the night before, but if price had dropped to 'max loss', it could have gotten ugly...

Hope someone can improve this EA, 'cause I very much like the logic behind it.

PS. still ended up with around 120 green pips this morning

Happy Pipping, everybody!
95% of the people don't believe 100% they can win, that's why they lose
  • #2,353
  • Feb 18, 2013 1:27am Feb 18, 2013 1:27am
" The user needs to understand fully about forex, technical analysis and fundamentals. The "forex robot" is just a tool, nothing else. It is really only aimed at advanced traders who don’t want to manual enter trades and scanning symbol charts constantly. " --Scoobs.



Freakin Legend...love this guy
  • #2,354
  • Feb 18, 2013 2:47am Feb 18, 2013 2:47am
Quoting allisonmagic
" The user needs to understand fully about forex, technical analysis and fundamentals. The "forex robot" is just a tool, nothing else. It is really only aimed at advanced traders who don’t want to manual enter trades and scanning symbol charts constantly. " --Scoobs.



Freakin Legend...love this guy
Don't know if I can be considered to be an 'advanced' trader or not... but how advanced need one be to put in the values 'max_equity' and 'max_loss' in this simple robot? Hell, it's only job is to close trades when they reach one of two levels, and surely an 'advanced' trader/coder is aware of the 'off quotes' and other bs brokers use to sabotage scalpers/EA's. Can't be that hard to add a multiple-retry-function to mimic what manual traders have to do in order to get trades closed by their tricky broker?

Anyway, for now I will put this EA onto more than one chart, with different max_equity and max_loss settings, so when one EA fails to close all trades at, say, 1.000 $, one of the others hopefully will finish the job at 1.001 $ and so on...

cheers,

Ronald
95% of the people don't believe 100% they can win, that's why they lose
  • #2,355
  • Feb 18, 2013 2:52am Feb 18, 2013 2:52am
Quoting Ronald123
Don't know if I can be considered to be an 'advanced' trader or not... but how advanced need one be to put in the values 'max_equity' and 'max_loss' in this simple robot? Hell, it's only job is to close trades when they reach one of two levels, and surely an 'advanced' trader/coder is aware of the 'off quotes' and other bs brokers use to sabotage scalpers/EA's. Can't be that hard to add a multiple-retry-function to mimic what manual traders have to do in order to get trades closed by their tricky broker?

Anyway, for now I will put this EA onto...
good point lol
  • #2,356
  • Feb 18, 2013 10:14pm Feb 18, 2013 10:14pm
Quoting allisonmagic
i've been demo testing KG RS 1.1, it's based on this system here. i should have clarified that a little better.. i started in this thread, moved over to the second part of this after they stopped developing the indi's..


i can decompile ex4's no problem.. however 2.0 is locked so i cannot decompile it
Allison,

I know the kG rs 1.1 is from the other thread but could you post it here so I can try it out too. Thanks a bunch. If.not, kindly let me know the page number where u got it.

Jack
  • #2,357
  • Feb 18, 2013 11:00pm Feb 18, 2013 11:00pm
http://www.forexfactory.com/showthre...93#post2392993
  • #2,358
  • Feb 21, 2013 7:32pm Feb 21, 2013 7:32pm
First, I want to thank ES Trader for this great system and everyone contributes to make it better. I have questions regarding the latest indicator
CC-diff_[v2.0]. I have been testing it on Oanda, the problem is I am only getting all the signals for JPY on level 2 and no other pairs. When I change to level 1, I get more pairs like GBP/USD, EUR/USD. I understand it's all about relative strentgh, but both JPY and USD have relative stronger strength against EUR, why do I only get the EUR/JPY signal and not the EUR/USD signal on level 2? Is my indicator working properly or do I need to make change to the setting? Thanks.
  • #2,359
  • Feb 27, 2013 6:21am Feb 27, 2013 6:21am
Using trendline breaks on relative strength meter indicator to spot significant turning points in currency pair - EUR/USD example attached
Attached Image (click to enlarge)
Click to Enlarge Name: trendline.jpg Size: 144 KB
  • #2,360
  • Feb 27, 2013 9:12am Feb 27, 2013 9:12am
Haven't been here at FF for almost a year. Great to see many are still trading this system.
Still works quite good with not much of a change.
Instead of 4 hr chart I have been looking at daily,weekly and even monthly bars.
Great results on longer term bars.
Good Trading !!
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