Attachments: As simple as possible: 00 level trading

As simple as possible: 00 level trading

#31,401
May 28, 2015 8:09am May 28, 2015 8:09am

LuXing
Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts

Quoting Sniper1310

Disliked

{quote} Hi Masofras, first I would like to say thank you for the evolution of the spreadsheet. Please correct me but after having a look at the calculations for the 3rd row it seems to me that there must be a mistake. From my point of view the maximum value could only be 9.0. Let me explain my understanding a little bit using the euro as an example: - You have 7 pairs containing the euro. - Lets assume that the euro is extreme strong and is assigned the value 9.0. - This implies that all the other currencies would be 0.0....

Ignored

Interesting thought Sniper1310.

Currency strength / weakness in the forexgrail spreadsheet is indeed expressed on a scale from 0-9.
If the market were to be in perfect "equilibrium", all currencies would have the value 4.5 (basically the midpoint).
Summed up, the values of the top row (Relative Strength) should always be 8 (currency pairs) * 4.5 = 36.
No matter what the values, this is an easy check to see if the RS values are correct(ly calibrated).
Now, the more the market gets "out of balance", the more interesting things get.

BUT, if the EUR has value 9, this does not necessarily mean that all currencies are zero !!!

Both the original forexgrail spreadsheet and the one that Diallist kindly modified and posted on this forum, have a scale that is - in my opinion - far too rough. See its scale (1 step increments of the Absolute Strength) and lookup table in the screenshot.
Actually, the scale used in the file posted by DingDong is far more precise, using 0.5 step increments, as shown in the second screenshot.

Real aficionados could take things even one step further (and get an even more precise Absolute Strength value) by not using 0.5 step increments, but obtaining the smallest possible increments through the application of a mathematical formula called the 5th Order Polynomial Fit.
A real math brain (I am certainly not one) has been able to figure that one out for me ;-)

In attach the fishing pole I received from him this morning in my mail, in the form of an Excel table.
Free for all to use, but please do not start asking me questions about it...

Happy fishing...

LuXing

Attached Images

Attached File(s)

5th Order Polynomial Fit Table.xlsx 272 KB | 728 downloads

Wisdom begins in wonder

#31,402
May 28, 2015 8:35am May 28, 2015 8:35am

Sniper1310
| Joined Feb 2015 | Status: Trader | 230 Posts

Quoting LuXing

Disliked

{quote} Interesting thought Sniper1310. Currency strength / weakness in the forexgrail spreadsheet is indeed expressed on a scale from 0-9. If the market were to be in perfect "equilibrium", all currencies would have the value 4.5 (basically the midpoint). Summed up, the values of the top row (Relative Strength) should always be 8 (currency pairs) * 4.5 = 36. No matter what the values, this is an easy check to see if the RS values are correct(ly calibrated). Now, the more the market gets "out of balance", the more interesting things get. BUT, if...

Ignored

Whoa, that´s the real stuff. While I still have a good grasp of math I am no geek either.

Unfortunately DingDong only posted the ex-files of the currency indicator so I am not able to get the calculation. I only saw a post where Dingdong mentioned that instead of using the bid ratio currency uses pips. So I guess this means using the stuff that I can get hold of and the best indicators I was given - my eyes and the thing between my ears.

BTW the new 5-minute method works fine too but it really bothers me that I don´t know what´s behind it.

#31,403
May 28, 2015 9:04am May 28, 2015 9:04am

hollandpippin
| Joined Nov 2006 | Status: Amsterdammer terug in nederland | 632 Posts

Just a few minutes ago my second trade for the day using MBA5min system on EJ (first was this morning on EU)

Attached Image (click to enlarge)

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Name: EURJPYM5.png
Size: 34 KB

As you can see the mini trend was up and a blue square so a buy on the green box using the scripts provided.
Finished the day up 1.71%.

#31,404
May 28, 2015 9:13am May 28, 2015 9:13am

LuXing
Joined Jan 2015 | Status: Error 404: LuXing not found | 1,586 Posts

Quoting Sniper1310

Disliked

{quote} Whoa, thats the real stuff. While I still have a good grasp of math I am no geek either. Unfortunately DingDong only posted the ex-files of the currency indicator so I am not able to get the calculation. I only saw a post where Dingdong mentioned that instead of using the bid ratio currency uses pips. So I guess this means using the stuff that I can get hold of and the best indicators I was given - my eyes and the thing between my ears. BTW the new 5-minute method works fine too but it really bothers me that I dont know whats behind it....

Ignored

@Sniper

I was referring not to the indicator(s), but rather the Excel file DingDong99 posted.
In this file, you can see the 0-250 lookup scale used, as opposed to the more "crude" scale in the original forexgrail sheet.

http://www.forexfactory.com/showthre...71#post8230871

LuXing

Wisdom begins in wonder

#31,405
May 28, 2015 9:54am May 28, 2015 9:54am

marcoFF
| Joined Mar 2015 | Status: Trader | 98 Posts

Quoting Milfortra

Disliked

{quote} Hi Marco, There are a few quite obvious reasons the probability of your trades were not in your favor. One of them is obviously the news. What is the rules when there is news? If you have read all the post from Post No. 1, you will be required to do again as you have not collected all the gems in this thread. You would have known your mistakes if you had collected and practice every one of them. You will be reading this kind of comment very frequently in this thread as those who have gone through the necessary reading will find that the...

Ignored

Don't take a Trade 1h before and 30min after a red news, I have read it 10000 times!! But from reading yo reallity there is always a difference!

#31,406
May 28, 2015 10:56am May 28, 2015 10:56am

Sniper1310
| Joined Feb 2015 | Status: Trader | 230 Posts

Quoting LuXing

Disliked

{quote} @Sniper I was referring not to the indicator(s), but rather the Excel file DingDong99 posted. In this file, you can see the 0-250 lookup scale used, as opposed to the more "crude" scale in the original forexgrail sheet. http://www.forexfactory.com/showthre...71#post8230871 LuXing

Ignored

@LuXing

Got it. You refer to the values in sheet 3 cell S5:T26, right? Since this spreadsheet is protected I did not pay close attention to the formulas used because this is pain in the ass jumping from cell xx to cell yy! Do you have the password?

#31,407
May 28, 2015 12:57pm May 28, 2015 12:57pm

gizmo96
| Joined Nov 2014 | Status: Trader | 218 Posts

Hi All,

Here are the rest of my trades:
Trade #5
GBPJPY Long -> SL

Attached Image (click to enlarge)

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Name: Schermafbeelding 2015-05-28 om 11.22.22.png
Size: 150 KB

#31,408
May 28, 2015 12:59pm May 28, 2015 12:59pm

gizmo96
| Joined Nov 2014 | Status: Trader | 218 Posts

Trade #6
EURJPY Long -> TP

Attached Image (click to enlarge)

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Name: Schermafbeelding 2015-05-28 om 11.23.28.png
Size: 133 KB

#31,409
May 28, 2015 12:59pm May 28, 2015 12:59pm

gizmo96
| Joined Nov 2014 | Status: Trader | 218 Posts

Trade #7
GBPJPY Long -> TS

Attached Image (click to enlarge)

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Name: Schermafbeelding 2015-05-28 om 11.25.32.png
Size: 143 KB

#31,410
May 28, 2015 1:02pm May 28, 2015 1:02pm

gizmo96
| Joined Nov 2014 | Status: Trader | 218 Posts

Trade#8
GBPUSD Short -> TP

Attached Image (click to enlarge)

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Name: Schermafbeelding 2015-05-28 om 15.42.46.png
Size: 142 KB

#31,411
May 28, 2015 4:45pm May 28, 2015 4:45pm

masofras
| Joined May 2014 | Status: Trader | 50 Posts

Quoting LuXing

Disliked

{quote} Interesting thought Sniper1310. Currency strength / weakness in the forexgrail spreadsheet is indeed expressed on a scale from 0-9. If the market were to be in perfect "equilibrium", all currencies would have the value 4.5 (basically the midpoint). Summed up, the values of the top row (Relative Strength) should always be 8 (currency pairs) * 4.5 = 36. No matter what the values, this is an easy check to see if the RS values are correct(ly calibrated). Now, the more the market gets "out of balance", the more interesting things get. BUT, if...

Ignored

hello luxing

I try modify Absolute strength and it seems more sensitive

thanks

Attached File(s)

jojo_strength_1.2.xlsx 806 KB | 941 downloads

#31,412
May 28, 2015 6:38pm May 28, 2015 6:38pm

24HourTrader
| Joined Nov 2007 | Status: Trader | 261 Posts

Hi all,

Hanover, creator of the Giraia CSM, was nice enough to post a more recent version which allows you to designate suffixes on the currency pairs, like "EURUSDi." I've tested it and it works perfectly. Here is his thread, post #303:

http://www.forexfactory.com/showthre...62#post8290562

Note that it has the same name as the old one, so you may want to rename it. Also, it gives you the option to change timeframes, so lots of experimenting can be done to see how useful the various timeframes are.

#31,413
Edited 7:25pm May 28, 2015 7:13pm | Edited 7:25pm

turboguru
| Joined Aug 2008 | Status: Trader | 555 Posts

Quoting 24HourTrader

Disliked

Hi all, Hanover, creator of the Giraia CSM, was nice enough to post a more recent version which allows you to designate suffixes on the currency pairs, like "EURUSDi." I've tested it and it works perfectly. Here is his thread, post #303: http://www.forexfactory.com/showthre...62#post8290562 Note that it has the same name as the old one, so you may want to rename it. Also, it gives you the option to change timeframes, so lots of experimenting can be done to see how useful the various timeframes are.

Ignored

Doesn't work for me when compiled lots of errors.

Edit: I also have build 765

#31,414
May 28, 2015 7:34pm May 28, 2015 7:34pm

24HourTrader
| Joined Nov 2007 | Status: Trader | 261 Posts

Quoting turboguru

Disliked

{quote} Doesn't work for me when compiled lots of errors. Edit: I also have build 765

Ignored

The MQ4 doesn't compile as of MT4 build 600, but the ex4 should work. I attached it below and changed the name to "Currency Strength - Giraia suffix". Just go into the settings and add the desired suffix.

I would love it if somebody could fix the MQ4 (also attached below) to compile on MT4 build 600+, then we could adjust other things, like perhaps creating used-defined time offsets for D1 calculations...as of now, you are stuck with your broker's 00:00 time.

Attached File(s)

Currency Strength - Giraia suffix.ex4 21 KB | 403 downloads

Currency Strength - Giraia NEEDS UPDATE.mq4 98 KB | 444 downloads

#31,415
May 28, 2015 8:04pm May 28, 2015 8:04pm

ChrisGC
| Joined Jul 2014 | Status: Trader | 192 Posts

Quoting 24HourTrader

Disliked

{quote} The MQ4 doesn't compile as of MT4 build 600, but the ex4 should work. I attached it below and changed the name to "Currency Strength - Giraia suffix". Just go into the settings and add the desired suffix. I would love it if somebody could fix the MQ4 (also attached below) to compile on MT4 build 600+, then we could adjust other things, like perhaps creating used-defined time offsets for D1 calculations...as of now, you are stuck with your broker's 00:00 time. {file} {file}

Ignored

Look here: http://www.forexfactory.com/showthre...17#post8258117

The problem is not giving offence but taking offence!

#31,416
May 28, 2015 8:05pm May 28, 2015 8:05pm

24HourTrader
| Joined Nov 2007 | Status: Trader | 261 Posts

FYI Hanover just gave it some more updates...we are in luck.

Again, just use the ex4, as the MQ4 won't compile. Also, make sure to rename it.

Here is where he posted it. Post 637 :

http://www.forexfactory.com/showthre...52#post8290652