Recent Strength indicator | Page 27 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Recent Candles indicator 235 replies

Trading profitably using Recent Strength 58 replies

Recent Strength indicator 0 replies

Great recent strength indicator needs alert 0 replies

Recent Strength Idea 3 replies

Attachments: Recent Strength indicator
Exit Attachments

Recent Strength indicator

  • #521
  • Oct 5, 2013 7:02am Oct 5, 2013 7:02am
Quoting hanover
{quote} I'm sorry, but from the info you've provided, I don't know what to suggest. I'm running Pepperstone MT4 build 509 on Win XP Pro SP2, and it works fine for me, exactly as described in post #1. However, it is arguably complex to set up correctly; needs to gather prices on all pairs and timeframes in order to function correctly (hence it can take 20-30 minutes to obtain the necessary data from your br0ker's server), possibly freezing MT4 during this one-off process; and its calculations consume significant CPU (computer) resource. A lot of...
Hello!

I think then the problem lies in the broker - since the broker is closed now, they are not able to provide the info @ weekend. I'll try it on monday again.
Your work here is highly appreciated, and your indicator is top-class.

Have a nice weekend

Stephen
It's all psychology...
  • #522
  • Oct 7, 2013 5:33am Oct 7, 2013 5:33am
Quoting hanover
{quote} I'm sorry, but from the info you've provided, I don't know what to suggest. I'm running Pepperstone MT4 build 509 on Win XP Pro SP2, and the Recent Strength indicator works fine for me, exactly as described in post #1. However, it is arguably complex to set up correctly; needs to gather prices on all pairs and timeframes in order to function correctly (hence it can take 20-30 minutes to obtain the necessary data from your br0ker's server), possibly freezing MT4 during this one-off process; and its calculations consume significant CPU (computer)...
I have no idea...
Maybe my settings? I want to have a base point different than my numpoint. Anyway my numpoint is 20 and clearly i have more data-columns.

Thank you so much hanover
Stephen
Attached Image (click to enlarge)
Click to Enlarge Name: nope.PNG Size: 70 KB
Attached Images
It's all psychology...
  • #523
  • Oct 7, 2013 11:59am Oct 7, 2013 11:59am
Quoting LamerTrader
{quote} I have no idea... Maybe my settings? I want to have a base point different than my numpoint. Anyway my numpoint is 20 and clearly i have more data-columns. Thank you so much hanover Stephen {image} {image} {image} {image} {image}
Try setting ParameterFile to NONE (or the name of some file that doesn't exist).
If you leave the ParameterFile setting blank, the indy assumes that you're using the supplied parameter file 'Presets---Recent Strength.TXT' to store your settings, and hence it is ignoring your settings in the MT4 dialog boxes.
Explained further in post #1.
  • #524
  • Oct 7, 2013 12:16pm Oct 7, 2013 12:16pm
Quoting hanover
{quote} Try setting ParameterFile to NONE (or the name of some file that doesn't exist). If you leave the ParameterFile setting blank, the indy assumes that you're using the supplied parameter file 'Presets---Recent Strength.TXT' to store your settings, and hence it is ignoring your settings in the MT4 dialog boxes. Explained further in post #1.
Thank you so much
It's all psychology...
  • #525
  • Oct 19, 2013 8:10am Oct 19, 2013 8:10am
Where can I down load the RSAlert indicator?? not on post 1 that I can find.
thnx. and cudos to hanover - you are tops.
  • #526
  • Oct 19, 2013 8:15am Oct 19, 2013 8:15am
Where can I down load the RSAlert indicator?? not on post 1 that I can find.
thnx. and cudos to hanover - you are tops.
  • #527
  • Oct 19, 2013 2:05pm Oct 19, 2013 2:05pm
Quoting JumpJack
Where can I down load the RSAlert indicator?? not on post 1 that I can find.
Explained in 'Instructions' section in post #1.
Please read the last two paragraphs of post #520 also.
  • #528
  • Oct 29, 2013 3:11am Oct 29, 2013 3:11am
thank you for the quality indi hanover.

am incorporating this excellent piece of work as a filter for H1/H4 based price action trades.

currently i am looking on RS D1 and watching the recent slopes of 6 currencies, over say the last 3-4 periods. then drilling down to H4 for relative position (RS number). although logically it seems these should be reversed. still working this out

cheers
  • #529
  • Oct 30, 2013 12:51am Oct 30, 2013 12:51am
Quoting djarum11
although logically it seems these should be reversed
--- If you have plots dispersing from vertex on left of chart, set LegendValues to 0D
--- If you have plots converging at right of chart, set LegendValues to -1A
This will ensure that strongest currency (across the whole plot) is always at the top of the list, and weakest at the bottom.

However, I don't use the number values, as I find the variations in slope give a more comprehensive picture.
  • #530
  • Oct 30, 2013 12:15pm Oct 30, 2013 12:15pm
thanks Hanover i do have LegendValues at 0D and the plot diverging from the left.

yesterday i took 2 trades based on D1 price action patterns, both long. USDCAD and EURCAD. E/C is currently up significantly more than U/C. notice that on the H4 graph EU is significantly stronger than USD in both position and slope.

on the H1 graph, reflecting the current state of these trades, notice that USD hit 100 and then bounced down. the question i am working on here is, does a currency within the top or bottom 10% tend to reverse just because it forms an extreme vs other currencies, or could it remain at an extreme for an extended time; with 0 and 100 not creating any kind of hard boundary.

will report back.
cheers
Attached Image (click to enlarge)
Click to Enlarge Name: RS_EC vs UC.png Size: 40 KB
  • #531
  • Oct 30, 2013 7:13pm Oct 30, 2013 7:13pm
Quoting djarum11
the question i am working on here is, does a currency within the top or bottom 10% tend to reverse just because it forms an extreme vs other currencies, or could it remain at an extreme for an extended time; with 0 and 100 not creating any kind of hard boundary.
Good question. Ultimately the indy is a derivative of price, hence upward/downward slopes reflect recent strength/weakness in these currencies, averaged across all of their relevant pairs; either this strength will continue, or it won't. It's the same question as with any chart: e.g. it's currently in an uptrend, so will the trend continue, or is price overbought now, hence a reversal is due? In the Recent Strength plots, the values from 0 to 100 have no real meaning, they simply reflect the way the plots are re-scaled to fit them into a 0/100 scale. Changing the indy's settings can change the plot shapes, and hence values, crossovers etc, quite dramatically.

JumpJack drew my attention to the Apollo strength indy. It uses RSI rather than price/momentum as the underlying calculation for its plots. I suspect that an oscillator-based calculation might be more useful for picking possible reversals based on overbought/oversold. If I ever get some spare time, I'll bravely revisit the monster that I've created, i.e. attempt to add a 'calculation type' option to Recent Strength.
  • #532
  • Oct 31, 2013 11:08am Oct 31, 2013 11:08am
follow up to previous trade:

both E/A and E/C tanked last night as the Euro took a major dive and the CAD strengthened.

in my previous post EUR had hit 100% and has in fact turned around hard after hitting this edge. Same with CAD which hit bottom and then turned up. the USD however is still in a general upward motion, but the strengthening of the CAD was enough to cause U/C to tank.

in other words, relative strength seems to better give a relative overbought/oversold type of indication more than an intuitive relative STRENGTH vs other currencies. just looking at the numbers and not the slope of the lines could be useful, since extreme high numbers and extreme low numbers both imply pullbacks. at least in this example i am posting.

in short, i think Mark Boardman at Apollo strength may be right. his indi is calculated a little differently but he waits for a currency to hit the upper or lower 30% and plays REVERSALS, not comparative strength. however the trades in his videos are countertrend, short lived, and not precise.

everyone, we need more research as there is confusion on how to use relative strength profitably.
Attached Image (click to enlarge)
Click to Enlarge Name: EC vs UC RELATIVE STRENGTH AFTER CLOSE.png Size: 264 KB
  • #533
  • Dec 14, 2013 5:12pm Dec 14, 2013 5:12pm
Hanover this is a fantastic piece of work.
thank you.
Praise aside what are your favourate indicators?
regs abp
If ask a silly question.. forgive me!i'm just confused again!
  • #534
  • Edited Dec 15, 2013 3:33am Dec 14, 2013 7:08pm | Edited Dec 15, 2013 3:33am
Quoting afos
Hanover this is a fantastic piece of work. thank you. Praise aside what are your favourate indicators? regs abp
Answered here.
  • #535
  • Dec 17, 2013 8:13am Dec 17, 2013 8:13am
hi Hanover,

What are the indicators on this last chart (up windows)? those on post 1 or different indicators?
Quote
http://www.forexfactory.com/attachme...3&d=1357103518
thanks for the answer
  • #536
  • Dec 17, 2013 12:13pm Dec 17, 2013 12:13pm
Quoting plkdtm
hi Hanover, What are the indicators on this last chart (up windows)? those on post 1 or different indicators?
As best as I can remember:

  1. Indicator in top right corner of chart is Signal.
  2. Horizontal lines to the right of the price candles are generated by Critical Levels.
  3. The dull colored boxes are generated by Sessions.
  4. The 'hollow' (white/yellow/green) arrows are generated by Candle identifier, which is sold as part of Andrew Mitchem's forex course (easily found using Google).
  5. The other symbols and channels are generated by an indicator called Athena, which I experimented with several months ago, but I eventually discarded it.

  • #537
  • Dec 18, 2013 12:06am Dec 18, 2013 12:06am
thanks hanover
  • #538
  • Dec 19, 2013 12:29pm Dec 19, 2013 12:29pm
Quoting Luther
{quote} Hi David, Give this a try in your Avatar UL. Happy Holidays. {image}
Luther,

Thanks. Here is the one that I'm currently using. Looks like it's exactly the same image (although yours has been cropped at the left — giving my icon one more dollar bill than yours LOL).

Happy holidays to you too.

David
Attached Image
  • #539
  • Edited Dec 20, 2013 12:38am Dec 19, 2013 12:32pm | Edited Dec 20, 2013 12:38am
Quoting hanover
{quote} Luther, Thanks. Here is the one that I'm currently using. Looks like it's exactly the same image. David {image}
When FF changed the avatar size a while back if you didn't reload your original image, the older one is scaled up so it's blurry.

Looking sharp now. (and a Dollar richer) lol

Have a good one.
  • #540
  • Dec 21, 2013 10:19am Dec 21, 2013 10:19am
Quoting hanover
{quote} Answered here.

Good day,
Sir.
With this message I am not intended to comment Your post or share my view on this thread, I just need help and advise with codding EA from very advanced programmer.
Sadly, I was unable to write U a PM, so I decided to write it here.
I want to ask U a favor. In the last few weeks I'm working with one code, and I am stuck with some problems. If U don't mind, I will post here a piece of code:




int a, b, c, d, m, Ticket[];
double SL = Ask+(a+1)*b*Point; // this is variating all the time, so it is not possible to modify it the way I want :to move only in one direction



for(m=0;m<OrdersTotal();m++)
{
OrderSelect(m, SELECT_BY_POS, MODE_TRADES);
if OrderSymbol()==Symbol()) // check for symbol
{
if(OrderType()==OP_SELL || OrderType()==OP_SELLLIMIT)

{

if(SL>(a+2)*b*Point)
{

OrderModify(OrderTicket(),OrderOpenPrice(),Ask+(a+1)*b*Point,OrderTakeProfit(),0,Red);
return(0);
}
}

}
}

if(OrdersTotal()<1) //open
{
Ticket[1]=OrderSend(Symbol(),OP_SELL,lot,Bid,slip,SL,TP,0,MAGIC+1,0);

for (c=0;c<d;c++)
{

Ticket[c+1]=OrderSend(Symbol(),OP_SELLLIMIT,lot,Bid,slip,SL,TP,0,MAGIC+1+c,0);

}
}

that is a part of my code, and the question is:

I will try to write it with example:
lets assume that:
Sell position is open.
Price=1.000,
SL = 1.050 .
is it possible to modify order to do that:
if Price climbs, SL will remain the same,
if price falls (to 0.950), SL moves to 1.000,
when Prices climbs from 9.5 to 9.8 (here is the problem), SL should be 1.000 // I'm facing SL climbing in this situation, so I would really appreciate any help or advice.

With all honored respect,
Ryy.
h
0 traders viewing now