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Trading system using relative strength

  • #2,401
  • Nov 9, 2013 2:10pm Nov 9, 2013 2:10pm
Very interesting system shared by ES.
it seems like there is a commercial version of this indicator. I checked and observed some similarities and differences

Similarities
1. they both seemed to be based off a similar formular for deriving their final values as comparing them on my chart gave similar readings

differences
1. the commercial indicator always requires the one minute charts of various currency pairs to be open to function properly
2. the commercial indicator only displays the relative strength of the the two currencies on the chart (the base and the counter) not the whole basket
3. the commercial indicator has a histogram to display the differences (like a MACD) of the two lines
4. the commercial indicator also has a red and green color indicator that tells when the present histogram is higher than or lower than the previous one.

I wonder if it is possible to code ours to do the same especially the 2,3,4 listed above
Attached Image
Two is a coincidence; three is a pattern!
  • #2,402
  • Nov 10, 2013 3:55am Nov 10, 2013 3:55am
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-d1-forex-capital-markets.png Size: 32 KB

http://www.mql5.com/en/charts/101362...markets?bind=1

we can see the similarities

what we need is
1. display only two lines for the base and counter currency of the chart attached
2. the differences between the two lines displayed as a histogram
3. the red and green dots that shows if the present histogram is higher or lower than the the former

the last criteria I feel is what we require to trade this wonderful techique.

regards
Two is a coincidence; three is a pattern!
  • #2,403
  • Nov 30, 2013 8:27pm Nov 30, 2013 8:27pm
Hi Everyone,

I am a new to forex and started learning the things.
I think this system has a potential, as I can see more posts with green pips as a proof points.
I am not quite understand the system and trying to understand and work out myself to get on the boat with the experienced traders in this thread.

I am glad if any one of you can give me pointers (post#) to study more on this for better understanding.

Thanks.
srbucks.
  • #2,404
  • Feb 4, 2014 2:15pm Feb 4, 2014 2:15pm
Hi All,
Just found this thread...wow 121 pages!

I tried the CCFp etc. indis but they don't show on my GKFX platform, which has SB suffix after all currency pairs (e.g. GBPUSDSB). Does anyone have modified indicators that would work with any pair, regardless of suffix/prefix? Most grateful!

Many thanks.
  • #2,405
  • Mar 9, 2014 9:15am Mar 9, 2014 9:15am
Hi ES Trader

I just wanted to say that I find your CCFp indi to be excellent. Better to use it with all the lines (I find anyway) but it's the way to go! I use the indi along with my own template as well as the CSM 3.0.6 currency strength which is useful because it shows the next significant news release which is going to effect the strength of the relevant currency/cies

I mainly use the 15 min chart but I suppose one can use the 1hr or 4 hr charts with bigger stop losses of course.

Some people have asked about exit strategy. I simply use a clean break (break above or break below) of an appropriate EMA

Rgds to all
  • #2,406
  • Mar 9, 2014 4:56pm Mar 9, 2014 4:56pm
Quoting blott
Hi All, Just found this thread...wow 121 pages! I tried the CCFp etc. indis but they don't show on my GKFX platform, which has SB suffix after all currency pairs (e.g. GBPUSDSB). Does anyone have modified indicators that would work with any pair, regardless of suffix/prefix? Most grateful! Many thanks.
Not sure if I posted this here but this version has code to add prefix or suffix to the currency pair. There are inputs for the prefix and suffix. There is also an input to show only pairs on charty.

BTW, there are other commercial products that are similar to this one and I even found one that is exactly like this one, except an older version, on sale for over $500. I am refering to the same source code.
Robert
Attached File(s)
File Type: mq4 CCFp_v4.1.mq4   15 KB | 1,270 downloads
  • #2,407
  • Mar 9, 2014 5:05pm Mar 9, 2014 5:05pm
There is another similar product called Hawkeye Fatman. It would be worth checking the way that one is traded.
Look for the stongest and weakest at extremes and when they are starting to come back together enter a trade.
Robert
  • #2,408
  • Mar 10, 2014 3:32pm Mar 10, 2014 3:32pm
Thanks MrPip,
Your modified CCfp indi works ok now.

Regards,


Mike
  • #2,409
  • Mar 12, 2014 12:58pm Mar 12, 2014 12:58pm
Quoting arielkorber
EUR/USD - Short signal generated 4am EST / 10AM GMT (red vertical line on indicator) Plenty of time to get in before the move - I was a little slow to enter and still caught it (and later added to it) {image} {image}
Hay- really like what you did with the ccfp V1.0.2Vert indi

I set the indi up on each currency pair, chart to see only the two pairs on indi-- also set up (on all pairs) green and red colors for visual ease - (easer to tell up or down). Thanks for shairing - backtesting this - it really looks good using your way of waiting for a cross or break of trend line on indi.

If you have anything els to add -- I would be very interested in hearing from you. thanks again
Live today like theres no tomorrow-- Prioritize like you will die today
  • #2,410
  • Mar 12, 2014 5:18pm Mar 12, 2014 5:18pm
Hello MrPip.

Thank you for this New version of CCFp v4.1

I tried the New Version V4.1 and it works OK.
But when i close Metatrader MT4 and restart Metatrader MT4 then my Metatrader platform Freezes (and i have to shutdown Metatrader with the windows taskmanager).
Did you (or other users of V4.1) experience the same or is there something i do wrong.
And how can i solve this problem?

Thanks for you answer!

Regards,
Paul Demandt
  • #2,411
  • Mar 18, 2014 8:52am Mar 18, 2014 8:52am
Quoting MrPip
{quote} Not sure if I posted this here but this version has code to add prefix or suffix to the currency pair. There are inputs for the prefix and suffix. There is also an input to show only pairs on charty. BTW, there are other commercial products that are similar to this one and I even found one that is exactly like this one, except an older version, on sale for over $500. I am refering to the same source code. Robert {file}

Hi MrPip

Thanks for the useful indi. Just wanted to ask you if it's possible to add XAU (Gold) to the indi? If it's not possible to add another one is it maybe possible to replace one of the existing symbols - maybe NZD or CAD?

Thanks and Regards

JM
  • #2,412
  • Mar 18, 2014 9:09am Mar 18, 2014 9:09am
Guys what I've done is made a template using the CCFp indi on a blank chart - it takes up most of the chart - easy to see what's going and I have all the "spaghetti lines"!
  • #2,413
  • Mar 19, 2014 5:30am Mar 19, 2014 5:30am
I've posted my trade explorer which shows how well this works after just a week of demo trading it - I use my CCFp template in conjunction with my magic breakout chart which is important as relative strength moves are still affected by dynamic resistance/support areas
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Mar. 19 10.30.gif Size: 6 KB
  • #2,414
  • Mar 19, 2014 7:54am Mar 19, 2014 7:54am
Quoting Paul_bericht
Hello MrPip. Thank you for this New version of CCFp v4.1 I tried the New Version V4.1 and it works OK. But when i close Metatrader MT4 and restart Metatrader MT4 then my Metatrader platform Freezes (and i have to shutdown Metatrader with the windows taskmanager). Did you (or other users of V4.1) experience the same or is there something i do wrong. And how can i solve this problem? Thanks for you answer! Regards, Paul Demandt
Hi Paul,
Take a look at your MT4 logs folder. Sometimes there are Mbytes of files in there, which can slow things down. I periodically erase those files.

I only have a slight hesitation when changing time frames or reloading the MT4, so yes, CCP does take up a bit of CPU.

Regards,


Mike
  • #2,415
  • Mar 19, 2014 9:46am Mar 19, 2014 9:46am
Quoting blott
{quote} Hi Paul, Take a look at your MT4 logs folder. Sometimes there are Mbytes of files in there, which can slow things down. I periodically erase those files. I only have a slight hesitation when changing time frames or reloading the MT4, so yes, CCP does take up a bit of CPU. Regards, Mike

I'm not sure if this will help?

Open MT4 and go to "Tools" "Options" "Trade" and change max bars in history to 100000 or even 50000
  • #2,416
  • Mar 19, 2014 9:52am Mar 19, 2014 9:52am
Quoting jmtini
{quote} I'm not sure if this will help? Open MT4 and go to "Tools" "Options" "Trade" and change max bars in history to 100000 or even 50000
Yep, thanks...forgot to mention that. Maybe a clean-up of unwanted files will free some space.
  • #2,417
  • Mar 24, 2014 6:55am Mar 24, 2014 6:55am
Thanks Blott and Jmtini.

For your answers to my problem.
My problem is solved. I have closed down a few serious heavy indicators that I had run in the background.
This ensured that CCFP not crashed at startup.

And of course change max bars in history and charts to max 10000 makes a difference.

Regards,

Paul
  • #2,418
  • Mar 24, 2014 8:29am Mar 24, 2014 8:29am
Opened before American session today..
Attached Image (click to enlarge)
Click to Enlarge Name: 2014-03-24 17-20 Before American.png Size: 61 KB
  • #2,419
  • Mar 28, 2014 12:15am Mar 28, 2014 12:15am
Quoting abc-forex
Opened before American session today.. {image}
pls can some one show me whe i can get the new ccdiff
  • #2,420
  • Mar 28, 2014 3:21am Mar 28, 2014 3:21am
Quoting abc-forex
Opened before American session today.. {image}
Must say I also don't recognise that indi?

Rgds
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