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Pair Strength Analyzer indicator

  • #41
  • Nov 20, 2014 12:45pm Nov 20, 2014 12:45pm
Hanover, thank you for a great tool. Lots of trend stuff out there, but yours is the best.
  • #42
  • Nov 20, 2014 12:47pm Nov 20, 2014 12:47pm
Quoting hanover
{quote} {quote} OK then, I’ll share a few more tools when you share your strategy that can “easily make a few thousand pips a month after months.”
Lol @ hann..

I saw this and had to laugh, anyway, there is nothing secret about my strategy to say the least, I follow this thread: http://www.forexfactory.com/showthread.php?t=446654 which I think you must be aware of, any one interested in basket trading needs to look at this thread. If you look at my entries there, it is all explained.

The best way for basket Trading is to trade the six core major pairs of the six main economies of the world. They are NZD, GBP,US,CHF,CAD, AUD and JPY pairs and their crosses.

Every Market Session has one of them moving the market. Note that AUD and CAD are commodity driven and should never be traded the same as they are negatively correlated. Most times, each sessions wants to pull the market back from the previous session before a decision is made either to continue or reverse the moves made in the session before. Now with this information, you focus on the groups and then basket trade all the pairs for the group.

Please check the thread I mentioned and check some of the comments from the likes of SMK, Seller9, Kopra and Shum to mention but a few, they all Trade Baskets and are better at it than myself. SMK is more of an institutional Trader and trades Baskets very heavily. We use an EA developed by Seller9.

As mentioned already, it is best to read the first 100 pages of that thread and then the last 100 pages and watch the YouTube videos on page one of the thread as all is mentioned in greater details. The key is picking the group of pairs in two's and threes and trade them for a modest 200 plus pips a time. Hence the reason why your tool comes in handy Hannover.

I hope it makes more sense after seeing the thread and the videos.

I am not the competing type and will give out any information I have if it helps any one, the forex market moves more than a trillion dollars a day so no one can have it all for themselves and this business is different from all others so sharing is motto for me.

All the best and more pips to us all.
Born to rule my Economic World and Make a Difference!
  • #43
  • Nov 20, 2014 1:11pm Nov 20, 2014 1:11pm
Quoting sharemaster2
Lol @ hann.. I saw this and had to laugh, anyway, there is nothing secret about my strategy to say the least, .......
Fair enough, it seems that I misjudged your motives and owe you an apology. There are literally thousands of threads on the Trading Systems forum, and each one requires some intense focus to learn it fully. Hence I wasn't aware of the thread you mentioned. I did perform a quick scan to see if you'd started any threads, and the only one I found was a question on Platform Tech.

I will check my archive of indicators, but just off the top of my head the only other ones that relate to currency strength are all contained somewhere in this thread, with links from post #1 to obtain instructions/downloads. But I decided to start a new thread this time.

Thanks for your comprehensive reply.
  • #44
  • Nov 20, 2014 10:53pm Nov 20, 2014 10:53pm
Just became a member of forexfactory so that I could thank you Hanover. Thank you for this indicator!

This thread is already leading down tangential threads.

I read the pdf of instructions but after reading it I could not get the indicator to show South African (ZAR) pairs.

I went into the currency pair line and added UZ,EZ,GZ,FZ but they do not show up in the ratings of pairs. Is this my mistake somewhere (in how to add pairs) or is this a problem with new metatrader versions 600+?
  • #45
  • Nov 21, 2014 2:49am Nov 21, 2014 2:49am
Ok, my problem is my broker only has the USDZAR pair and I finally did get that pair to show.
  • #46
  • Nov 21, 2014 4:30am Nov 21, 2014 4:30am
Hannover first of all ı apreciate and ı think you as a forex architecture. your dashboard is wonderful but it also show what happened in the past as other dashboard.Becouse ı think you are an architecture ,you can code the dashboard to see the accelaration of market.My indicator is Kadosh indicator which was a numeric one.We should see this indicator values of pairs on some time frames(m15,h1,h4)and also the changing it for example on m15 timeframe.We can put many alerts according to many settings onthis dashboard if you create this.
Waiting for your responce
Attached File(s)
File Type: ex4 Kadosh.ex4   67 KB | 1,763 downloads
  • #47
  • Nov 21, 2014 8:57am Nov 21, 2014 8:57am
Hello Hanover.
Thanks for sharing this wonderful pair strenght analyzer!
Really appreciated.

All the best.
Live with no regrets
  • #48
  • Nov 21, 2014 10:42am Nov 21, 2014 10:42am
Quoting falanca
Hannover first of all ı apreciate and ı think you as a forex architecture. ........
I am sorry, but I am no longer accepting any programming or troubleshooting requests.

You could try posting your request in one of the "I code your indicators for free" threads. Hopefully a programmer, who's more familiar with the latest MT4 builds than I am, will be able to help you.
  • #49
  • Edited 11:11am Nov 21, 2014 10:50am | Edited 11:11am
Quoting Tanzenkran
Just became a member of forexfactory so that I could thank you Hanover. Thank you for this indicator! This thread is already leading down tangential threads. I read the pdf of instructions but after reading it I could not get the indicator to show South African (ZAR) pairs. I went into the currency pair line and added UZ,EZ,GZ,FZ but they do not show up in the ratings of pairs. Is this my mistake somewhere (in how to add pairs) or is this a problem with new metatrader versions 600+?
I added ,UZ,XAGUSD to the end of the list and both USDZAR and XAGUSD (I wanted to try a metal, also) display on the dashboard OK. See attached screenshot. I'm running AxiTrader build 610.

However, the indicator has been tested only for currencies AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD. There's no guarantee that it will provide meaningful values for exotics, metals, commodities, indices, etc. I will add this note to post #1.
Attached Image
  • #50
  • Edited 10:13pm Dec 13, 2014 9:51pm | Edited 10:13pm
I've attached an updated version of the indy to post #1. It permits multiple instances of the indy on the same chart (see chart screenshot).

As an example, the 'summary only' illustration can be achieved by setting ShowTopXPairs to 0 and ShowCCySummary to true. The other screenshots show the parameter settings used. The headings 'Short term (sentiment)' and 'Long term (fundamentals)' are manually placed text labels.

As can be seen from the parameters, the short term summary takes its regressions from H1 and H4 charts, while the longer term uses D1 and W1.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: PPI 146.png Size: 44 KB
Click to Enlarge Name: PPI 147.png Size: 45 KB
Attached Image
  • #51
  • Dec 15, 2014 8:06am Dec 15, 2014 8:06am
Quoting hanover
I've attached an updated version of the indy to post #1. It permits multiple instances of the indy on the same chart (see chart screenshot). As an example, the 'summary only' illustration can be achieved by setting ShowTopXPairs to 0 and ShowCCySummary to true. The other screenshots show the parameter settings used. The headings 'Short term (sentiment)' and 'Long term (fundamentals)' are manually placed text labels. As can be seen from the parameters, the short term summary takes its regressions from H1 and H4 charts, while the longer term uses...
Hi Hanover,

Thanks for your input indeed. We will keep cleaning up the Brokers. Well done.
Born to rule my Economic World and Make a Difference!
  • #52
  • Dec 15, 2014 8:18am Dec 15, 2014 8:18am
Quoting hanover
I've attached an updated version of the indy to post #1.
Excellent idea, Well Done.

Thanks again.
It never gets easier, you just get better
  • #53
  • Edited 9:18am Jan 2, 2015 8:59am | Edited 9:18am
Quoting hanover
Pair Strength Analyzer (PSA) This is an indicator that I use as an adjunct to my strength indicators, to confirm strength/weakness by using a very different algorithm. I wrote it back in 2011, but I’ve finally decided to share it publicly. There is nothing magical about the indicator; it is merely another way of calculating trend strength. It ranks both pairs and currencies, from the strongest trending down to the most sideways moving, according to the parameter settings that you choose...
Thanks for sharing your indicator. Best wishes for you. Could you tell me the use of this indicator for your trading system? thanks for your information
  • #54
  • Jan 2, 2015 11:12am Jan 2, 2015 11:12am
Quoting ronald_fsm
{quote} Thanks for sharing your indicator. Best wishes for you. Could you tell me the use of this indicator for your trading system? thanks for your information
Try scrolling back to post #50 for one possible way to use it.
It never gets easier, you just get better
  • #55
  • Jan 2, 2015 1:27pm Jan 2, 2015 1:27pm
Quoting ronald_fsm
{quote} Thanks for sharing your indicator. Best wishes for you. Could you tell me the use of this indicator for your trading system? thanks for your information
I'm a retired programmer, not a pro forex trader. The screenshot in post #50 was merely an example showing how the indicator can be attached multiple times to the same chart.

I've decided to give trading forums a rest, so this will probably be my final post for a while.

Happy new year to all, and good trading for 2015.
  • #56
  • Jan 2, 2015 3:44pm Jan 2, 2015 3:44pm
Thank You for sharing !

Have good Year !
  • #57
  • Jan 2, 2015 5:58pm Jan 2, 2015 5:58pm
Quoting hanover
I've decided to give trading forums a rest, so this will probably be my final post for a while.
Wish you all the best Hanover. We will definitively miss you ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #58
  • Jan 3, 2015 4:33am Jan 3, 2015 4:33am
Quoting hanover
....
Happy new year and thank you for your contribution so far.
  • #59
  • Edited 12:26pm Jan 31, 2015 11:56am | Edited 12:26pm
Hey H/D -

Long time no speak. Another superbly executed indicator. Again so much time and effort in ideas, research, development, testing, explanation, replying, patience....and for free! You are a truly rare person...or mad!

I personally prefer this indi over RS - even if it doesn't give you much in the way of history. I've been using three different instances of it (timeframes) with a dozen pairs and it seems to give much better info than a grid strength based indi I developed. It has a crude calculation compared to multiple regression lines/slopes. Very nice! I might have to pull out the values from the CSV files to drop into my grid.. I haven't tried the DollarValueNotPips option yet - something we talked about way back. I think then you hadn't implemented it in RS. Maybe it's there now.

I can't pm you and I sent an email to your yahoo account which bounced back. We conversed loads in the past over Vo-Pro and RS. I know you might have packed your bags for more interesting shores but it would be nice to keep in touch. I will try to keep any comms brief...

All the best -

RH
  • #60
  • Feb 2, 2015 11:30am Feb 2, 2015 11:30am
Email sent H. If you receive it you should know. If you don't you should know

RH
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