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  • #4,061
  • Jul 17, 2015 9:03am Jul 17, 2015 9:03am
Quoting Gvc
{quote} The one from ForexProfitSupreme Meter.......
CS dash matches up exactly so if it's working well for you I will use that one until your EA is released.
Thanks
  • #4,062
  • Jul 17, 2015 11:04am Jul 17, 2015 11:04am
Quoting Gvc
{quote} The code has changed a bit from the first post...... Look a couple of lines above for the iMA lines and change the timeframes.... {image}
Got it. Thank you.
I like Dashboard_Ultimate version because it allows to set your own parametrs for indicators. I'm using a longer-term approach (swing), so I modify it to fit my needs.
  • #4,063
  • Jul 17, 2015 2:36pm Jul 17, 2015 2:36pm
[quote=pipdripper;8386469]{quote} .... brings most of the concerns regarding the Giraia and other strength meters home. In noob estimation, using any Currency strength meter comes down to how much you can trust that CSM based on how reactive it is to what is happening on the chart but however it is all very subjective. Coming down to the CurrencyStrengthAlerts.ex4 indicator, to me, while it has the plausible ability of being displayed multiple times on the same chart, the calculations are however different from that of the hanover Giraia which was based on the popular Excel Currency Strength worksheet. For me, knowing just that difference in output data makes the indicator less effective to me as a person since I don't know the actual calculations and how they are being performed - at least that of the Giraia is known and I'm better off with that. ...

Thanks pipdripper. The math is not a mystery. It is right there on the exel sheet and mql4 files. It is based on the range of the time frame and the position of the last price within that range. The big differences being the number of currency pairs used to accommodate different brokers and what I believe may be the most critical the time frame.

All the current meters utilize the fixed bar of the time frame. This means that with a day bar the first hour of the day only factors a range of one hour, the last hour of the day factors a range of 23+ hour. This is a big variance. In the first hour the Hourly, 4 Hour and Daily CSMs will all show the same result, every 4 hours the Hourly and 4 Hour CSM will show the same result and so on. It will also matter what your brokers open time is. Different brokers may show different results based on different start times.

I have developed a CSM based on a rolling time frame. This means a Daily CSM will always be based on the range of the last 24 hours, A 4 Hour CSM will be based on the last 4 hours and so on. It seems this would make comparisons between the different time frames more valid. To take this a step further this can also be enabled to look back. We could compare the current CSM with an hour ago or some other time in the past to gauge strength trend and stability.

What I am lacking is advanced programming skills. I cannot figure out how to get more that one CSM on a chart. The EX4 file you shared does this perfectly. If we can locate the source of this file I can standardize the calculation and implement a rolling time frame into it. (Is this dingdong or one of the many other talented programmers here?) Imagine a CSM time based heat map. This could be a powerful tool.

All credit here goes to hanover for his coding mastery, Nasap and JibilaPasan for their inspiring results implementing a CSM into a profitable trading strategy.

Warmest Regards,
dlouw
  • #4,064
  • Jul 17, 2015 6:15pm Jul 17, 2015 6:15pm
Quoting dlouw
{quote} .....I have developed a CSM based on a rolling time frame. This means a Daily CSM will always be based on the range of the last 24 hours, A 4 Hour CSM will be based on the last 4 hours and so on. ....
Yes, that's what I was talking about here ... no 'rollover'.
"You Never Know.....Until You Find Out."
  • #4,065
  • Edited 6:42pm Jul 17, 2015 6:28pm | Edited 6:42pm
Quoting goldenequity
{quote} Yes, that's what I was talking about here ... no 'rollover'.
goldenequity,
I have checked the csm that GVC is using against all the csms that I have and the only one that matches exactly is the latest CSdash indicator. Will this alter the results if using Jibala and your strategy?
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  • #4,066
  • Edited 8:06pm Jul 17, 2015 7:06pm | Edited 8:06pm
Quoting PipFlak
{quote} goldenequity, I have checked the csm that GVC is using against all the csms that I have and the only one that matches exactly is the latest CSdash indicator. Will this alter the results if using Jibala and your strategy? {image}
That is impossible to know. Like any other metric.. including the 'supreme'... it will just need to be 'calibrated'.
ANY measuring tool... even 'lab tools' in chemistry... need to be 'calibrated' using a 'standard'. It just takes time/effort.

Most of us aren't 'using' the 'anchors in the middle'... most use is when the pairs go into 'extreme' values..... and STAY there.
So... a 'qualified' no... I don't think it will matter. Choosing 'which' cross pairs to anchor with becomes the more complex part,
and where 'relative strength' can play a role.... or.... you can just look at a chart.
The 'issue' is in trying to 'automate' the metrics...
"You Never Know.....Until You Find Out."
  • #4,067
  • Jul 17, 2015 8:33pm Jul 17, 2015 8:33pm
Quoting goldenequity
{quote} That is impossible to know. Like any other metric.. including the 'supreme'... it will just need to be 'calibrated'. ANY measuring tool... even 'lab tools' in chemistry... need to be 'calibrated' using a 'standard'. It just takes time/effort. Most of us aren't 'using' the 'anchors in the middle'... most use is when the pairs go into 'extreme' values..... and STAY there. So... a 'qualified' no... I don't think it will matter. Choosing 'which' cross pairs to anchor with becomes the more complex part, and where 'relative strength' can play...
Thanks, I normally trade using an Aims/Carlos Diaz hybrid method and I am trying to use the dash to get me into the best probable trades quickly so that I can take advantage of the momentum. I trade the 15m/1 hr timeframes so I am trying to tweek the dash for that purpose. I am not interested in autotrading, just manual.
Thanks again for all your input and Jabala too.
PF
  • #4,068
  • Jul 17, 2015 10:44pm Jul 17, 2015 10:44pm
Quoting goldenequity
{quote} Most of us aren't 'using' the 'anchors in the middle'... most use is when the pairs go into 'extreme' values..... and STAY there.
So... a 'qualified' no... I don't think it will matter. Choosing 'which' cross pairs to anchor with becomes the more complex part,
and where 'relative strength' can play a role.... or.... you can just look at a chart.
...
I'm already experimenting with relative strength and it seems that I can take decision quite better and earlier to my favor! The following illustration shall show the "how to":

Look at the CSM. We see an extremely high value for AUD but no equivalent on the selling side! Will you think for a single moment on a buy option of AUDCAD or AUDUSD?
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This is information we get from relative strength (especially AUDCAD & AUDUSD):
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Hence I took them all!
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7h later:
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Closing my orders
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because of relative strength changing
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Imho very impressive if you know that strength of a currency is based and calculated by relative strength of the pairs! Hence why not use the information one step prior to the result?

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #4,069
  • Edited Jul 18, 2015 6:07am Jul 17, 2015 11:08pm | Edited Jul 18, 2015 6:07am
Jibala,
You really are Master of the CSM! You should wear a cape.
Doesn't Ding Dong's currency strength meter basically do the same thing?
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  • #4,070
  • Jul 18, 2015 1:53am Jul 18, 2015 1:53am
Quoting JibalaPasan
{quote} I'm already experimenting with relative strength and it seems that I can take decision quite better and earlier to my favor! The following illustration shall show the "how to": Look at the CSM. We see an extremely high value for AUD but no equivalent on the selling side! Will you think for a single moment on a buy option of AUDCAD or AUDUSD? {image} {image} This is information we get from relative strength (especially AUDCAD & AUDUSD): {image} Hence I took them all! {image} 7h later: {image} Closing my orders {image} because of relative...
this is how i trade the csm - strong pair of strong currency.

what was and how you track drawdown?

7 hours might have huge dd before turning to green again...
Double the account
  • #4,071
  • Jul 18, 2015 2:21am Jul 18, 2015 2:21am
Quoting goldenequity
{quote} That is impossible to know. Like any other metric.. including the 'supreme'... it will just need to be 'calibrated'. ANY measuring tool... even 'lab tools' in chemistry... need to be 'calibrated' using a 'standard'. It just takes time/effort. Most of us aren't 'using' the 'anchors in the middle'... most use is when the pairs go into 'extreme' values..... and STAY there. So... a 'qualified' no... I don't think it will matter. Choosing 'which' cross pairs to anchor with becomes the more complex part, and where 'relative strength' can play...
GE, did any of you guys ever fix the fact that these DB's do not honor risk parameters?

In other words, if I tell it take no more than 6 trades total, no matter the triggers, does it stop at 6 trades?
If you are good at something, never do it for free--Joker
  • #4,072
  • Jul 18, 2015 3:38am Jul 18, 2015 3:38am
Quoting JibalaPasan
{quote} This is information we get from relative strength (especially AUDCAD & AUDUSD): {image}
Nice way of trading indeed Jibala. Where can I find this Relative strength overview you have there?
  • #4,073
  • Jul 18, 2015 6:16am Jul 18, 2015 6:16am
Quoting mankindeg
{quote} Nice way of trading indeed Jibala. Where can I find this Relative strength overview you have there?
http://www.forexfactory.com/showthread.php?t=487923
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Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #4,074
  • Jul 18, 2015 6:36am Jul 18, 2015 6:36am
Quoting JibalaPasan
{quote} http://www.forexfactory.com/showthread.php?t=487923 {image} Jibala
its still only an excel sheet and not yet any indicator? Please can some kind coder make a separate indicator using relative strength calculation from the xls sheet as jibala has graciously provided..
  • #4,075
  • Jul 18, 2015 6:52am Jul 18, 2015 6:52am
Quoting JibalaPasan
{quote} http://www.forexfactory.com/showthread.php?t=487923 {image} Jibala
Oh... you went and did it didn't you???

The Udine thread and Jibala's work/effort/explanations are all there on the xls spread sheet tool she created...
Take the time to READ there before filling up here w/ questions already answered there.

The short answers: Yes. It works. Yes. It functions with Excel and updates itself w/ current data supplied by an MT4 platform.
Download the latest forexgrail.xls and CurrencyStrength(28).xlsx files.
Do not open them on MSExcel and expect them to work.

First open an MT4 platform>tools>options>server and check to allow DDE server. (on weekends you must have a tick generator working)
Now open the xls files... go to OPTIONS in middle of both spreadsheets and allow it to shake hands w/ the MT4 data feed.

Now it will work.

I just post this to save her headaches.
"You Never Know.....Until You Find Out."
  • #4,076
  • Jul 18, 2015 7:02am Jul 18, 2015 7:02am
Quoting PipFlak
Jibala, You really are Master of the CSM! You should wear a cape. Doesn't Ding Dong's currency strength meter basically do the same thing? {image}
@PipFlak you might be right but there is a big problem for me in reading and interpreting the dd99 strength meter. I know strength usually is measured from 0 - 9 or any digits equivalent to it. For the dd99 strength meter I don't know what's the upper / lower limit (maybe +/- 360?) while the heatmap shows colors only, hence makes it more hard even to interpret.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #4,077
  • Jul 18, 2015 7:05am Jul 18, 2015 7:05am
Quoting JibalaPasan
{quote} @PipFlak you might be right but there is a big problem for me in reading and interpreting the dd99 strength meter. I know strength usually is measured from 0 - 9 or any digits equivalent to it. For the dd99 strength meter I don't know what's the upper / lower limit (maybe +/- 360?) while the heatmap shows colors only, hence makes it more hard even to interpret. Jibala
Jibala,
According to honestknave who wrote CSdash it is a relative strength indicator. This is what he originally said:

Hello all,

I'm just jumping in here without reading more than a couple of pages back so you guys may already have something working.

But I noticed in the recent posts that people are using DDE and an Excel spreadsheet for currency strength calculations.

As part of a different project I'm working on, I have ported this concept of measuring currency strength to MT4 (so no need for Excel).

Feel free to play around with it. It's still a beta version so there are bound to be bugs.

You can click on any pair to open that chart with the template and timeframe of your choice (in the options).

It may seem erratic shortly after a bar change (timeframe setting is in the options). This is because there will be minimal difference between high, low and bid until price has moved a bit.

If you see a lot of "-" it is simply waiting for all the pairs to get their first tick of the new bar.

Hopefully it will be of use to someone else.

Edit: It is an EA (non-trading), so please make sure you put it in the Experts folder.


Maybe I am misunderstanding what he is saying. An actual dashboard indicator that does exactly what you are talking about would sure be nice.
  • #4,078
  • Jul 18, 2015 7:06am Jul 18, 2015 7:06am
Quoting goldenequity
{quote} Oh... you went and did it didn't you??? The Udine thread and Jibala's work/effort/explanations are all there on the xls spread sheet tool she created... Take the time to READ there before filling up here w/ questions already answered there. The short answers: Yes. It works. Yes. It functions with Excel and updates itself w/ current data supplied by an MT4 platform. Download the latest forexgrail.xls and CurrencyStrength(28).xlsx files. Do not open them on MSExcel and expect them to work. First open an MT4 platform>tools>options>server...
Thanks a lot @golden for the short introduction! But it's not my creation, I got that excel spread sheet from this forum.

Jibala
PDF & BCC (Patience Discipline Focus & Belief Confidence Consistency)
  • #4,079
  • Jul 18, 2015 7:24am Jul 18, 2015 7:24am
Quoting goldenequity
{quote} Oh... you went and did it didn't you??? The Udine thread and Jibala's work/effort/explanations are all there on the xls spread sheet tool she created... Take the time to READ there before filling up here w/ questions already answered there. The short answers: Yes. It works. Yes. It functions with Excel and updates itself w/ current data supplied by an MT4 platform. Download the latest forexgrail.xls and CurrencyStrength(28).xlsx files. Do not open them on MSExcel and expect them to work. First open an MT4 platform>tools>options>server...

GE. with all due respect. i'e been there done that. My excel does not work. I'm not the only one. so i was hoping for a separate indicator that is independent of the excel sheet. TY for understanding.
  • #4,080
  • Jul 18, 2015 7:27am Jul 18, 2015 7:27am
Quoting JibalaPasan
{quote} Thanks a lot @golden for the short introduction! But it's not my creation, I got that excel spread sheet from this forum. Jibala
Hi Jibala

Which TF do you use in your Excel,I know Currency Strength-Giraia indi and your Excel use the same formula,but Currency Strength-Giraia use different TF will have different result.

So I want to ask if in your Excel also have a TF?

thx a lot.

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