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FFx Universal Strength Meter

  • #101
  • Nov 22, 2015 4:29am Nov 22, 2015 4:29am
Quoting barbones
Can you add Daily Close to the indy? and to see the percent from that level?
I don't plan to add other infos to this tool. It is a currencies strength meter ... not a multi-purpose dashboard.

Please don't take it personally ... No disrespect intented.
MT4/MT5 EAs/Indicators/Alerts coder
  • #102
  • Nov 22, 2015 5:14am Nov 22, 2015 5:14am
No problem man. I only think that Reuters and Bloomberg look at currencies strength meter in percentage in relation with Close. It's obvious on their sites.
I modify it even I'm not a coder at all and I put + - 0.25 and 0.75 levels. Now it s from Open.

I m very surprised that 99% from retail traders try to find other ways to see the market and not to look at how the big boys see the market.
I don t see anywhere on big boys sites correlation with macd or rsi but I see always percentage. From daily Close, Weekly and Monthly or 52 weeks.
I don t see on there sites correlation with bar patterns but I see always when they show a chart only Line Chart and percent move.
I see "winners in forex market" promoted by brokers who say they win with help from indicators and we all know that all the indicators show the past and they never can predict the future.

Great indy and great work but in the end, the base of this indy have other indicators that show the past. What I try to demonstrate is we only need to know the strength and to correlate that with future events.
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File Type: mq4 PercentD_Open.mq4   24 KB | 1,484 downloads
  • #103
  • Nov 22, 2015 5:59am Nov 22, 2015 5:59am
Quoting barbones
No problem man. I only think that Reuters and Bloomberg look at currencies strength meter in percentage in relation with Close. It's obvious on their sites. I modify it even I'm not a coder at all and I put + - 0.25 and 0.75 levels. Now it s from Open. I m very surprised that 99% from retail traders try to find other ways to see the market and not to look at how the big boys see the market. I don t see anywhere on big boys sites correlation with macd or rsi but I see always percentage. From daily Close, Weekly and Monthly or 52 weeks. I don t see...
i see all time here and there is indicator allergy.i don't understand what is the problem with indicator .i know you will say it is lagging..confusing..showing past....etc i agree with you ..100% correct .so why /what coders/programmer doing...100 /1000 lies indicator /ea/script..why ? I LIKE/LOVE INDICATORS/COLORS but not only depends on indicator .not just ma...cross...oversold..overbought etc....i trade with naked chart.... zone..sup/dem/candle pattern/chart pattern/pivot/fibo etc..and indicator gives me confidence/edge/confluence b/c i want to see past/learn from past what happened..will happen...happening....and most important ..most of the trader..retail/common... use it/like it ..so if you want to successful trader ..you must know it what common trader are doing...IMHO
Say something meaningful or Silence!!
  • #104
  • Nov 22, 2015 6:16am Nov 22, 2015 6:16am
Quoting classy
{quote} i see all time here and there is indicator allergy.i don't understand what is the problem with indicator .i know you will say it is lagging..confusing..showing past....etc i agree with you ..100% correct .so why /what coders/programmer doing...100 /1000 lies indicator /ea/script..why ? I LIKE/LOVE INDICATORS/COLORS but not only depends on indicator .not just ma...cross...oversold..overbought etc....i trade with naked chart.... zone..sup/dem/candle pattern/chart pattern/pivot/fibo etc..and indicator gives me confidence/edge/confluence b/c...
Man, I don t have allergy to indicators and I don t need to know what common traders are doing cos everybody know that they/we loose. All this industry for retail trading will go bankrupt if we, retail trades will start to win.
The coding it s a part of this business. Not all the coders give for free there work. With 20$ you will have an indy, like you want it and if you know what to do with it then it s great but in the end, the coder take the money and he don't need to trade at all, to be part of this business.

I only say that the focus is shifted in a wrong direction. I only try it to add to this tool a concept that I believe it's worth it. That it.
  • #105
  • Nov 22, 2015 6:34am Nov 22, 2015 6:34am
Quoting classy
{quote} i see all time here and there is indicator allergy.i don't understand what is the problem with indicator .i know you will say it is lagging..confusing..showing past....etc i agree with you ..100% correct .so why /what coders/programmer doing...100 /1000 lies indicator /ea/script..why ? I LIKE/LOVE INDICATORS/COLORS but not only depends on indicator .not just ma...cross...oversold..overbought etc....i trade with naked chart.... zone..sup/dem/candle pattern/chart pattern/pivot/fibo etc..and indicator gives me confidence/edge/confluence b/c...
nice one classy! >>> indicator allergy
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #106
  • Nov 22, 2015 9:11am Nov 22, 2015 9:11am
Quoting barbones
{quote} Man, I don t have allergy to indicators and I don t need to know what common traders are doing cos everybody know that they/we loose. All this industry for retail trading will go bankrupt if we, retail trades will start to win. The coding it s a part of this business. Not all the coders give for free there work. With 20$ you will have an indy, like you want it and if you know what to do with it then it s great but in the end, the coder take the money and he don't need to trade at all, to be part of this business. I only say that the focus...
with due respect ....yes loosing is also part of trading b/c it is probability game /Zero some game .as a trader it is your duty how you decrease your loosing percentage.no one is loosing only b/c of indicators.1st rule for life/trade don't blame .others ...indicators/TS/STG.../Sm/Broker .....he/she is loosing lack of knowledge ...of use indicators/fear/greed/indiscipline... for example i can use 10/20/50/100/200 ma/ema cross or cci /macd/rsi/ any thing /any stg what you feel good/comfort but 1st you have to know either..price it is supply area or demand ...aka support/resistance i called PTZ potential trading zone...then indicator will add one more edge/confluence and you cant igrore what is common/retail trader doing b/c big boy's are 1% and 99% are retail...LOl..IMHO.i will not continue more ..i am just sharing my perceptions/feeling about indicators... sharing is caring...if you like you can check my trade/style :

http://www.forexfactory.com/showthre...18#post8604318
Say something meaningful or Silence!!
  • #107
  • Nov 22, 2015 10:01am Nov 22, 2015 10:01am
With the same respect. Some time ago I see a documentary about HTF trade company. The only company that open the door and share some inside say they buy and sell millions times a day for a penny profit, for few seconds or minutes a trade based on strength of a currency/stock. The only indicator was the level of Close of last D,W,M. The system it's simple at first glance but a lot of work need it to create the base if study. Every stock/pair have personal movement/amplitude on daily/week base. According with this, they will sell when the statistic say it's to high and buy the same. They never had a losing week.
I m not against any indicator. You are free to do what you do. Nobody stop you. You are free to believe or not. It s up to you, but don 't try to make others to follow you cos this is wrong.

My point of view it s mine. If you don't have nothing to say about my point of view, in a constructive manner, then allow me to believe and to explain to other my point of view. With all respect, Sir.
  • #108
  • Nov 22, 2015 10:46am Nov 22, 2015 10:46am
Quoting barbones
With the same respect. Some time ago I see a documentary about HTF trade company. The only company that open the door and share some inside say they buy and sell millions times a day for a penny profit, for few seconds or minutes a trade based on strength of a currency/stock. The only indicator was the level of Close of last D,W,M. The system it's simple at first glance but a lot of work need it to create the base if study. Every stock/pair have personal movement/amplitude on daily/week base. According with this, they will sell when the statistic...
please don't misunderstand ..i respect you and all FFF .my philosophy of life is LOVE..RESPECT...LEARN..SHARE..CARE......if I want to learn from you ..i must respect you AND I WANT TO LEARN FROM you..i am just learner till my last day in this world...i am always positive..constructive .....i hate destruction....
Say something meaningful or Silence!!
  • #109
  • Nov 24, 2015 10:26am Nov 24, 2015 10:26am
Hi Mater FerruFx,
I want to try your new tool and its multiple choices. Thanks for your great work. Cheers.
Per aspera ad astra
  • #110
  • Nov 24, 2015 10:37am Nov 24, 2015 10:37am
Quoting jpadvisor
Hi Mater FerruFx, I want to try your new tool and its multiple choices. Thanks for your great work. Cheers.
Enjoy
MT4/MT5 EAs/Indicators/Alerts coder
  • #111
  • Nov 25, 2015 10:05am Nov 25, 2015 10:05am
Quoting FerruFx
....Enjoy
If I use stochastic 34,3,3 and 14,3,3 which one will give more accurate strength numbers for the same time frame?
  • #112
  • Nov 25, 2015 5:34pm Nov 25, 2015 5:34pm
Quoting ruma29
{quote} If I use stochastic 34,3,3 and 14,3,3 which one will give more accurate strength numbers for the same time frame?
You will have to find the one suiting your own trading style and risk ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #113
  • Nov 25, 2015 6:51pm Nov 25, 2015 6:51pm
Quoting FerruFx
{quote} You will have to find the one suiting your own trading style and risk ...
I was asking about accuracy based on stochastic parameters and not about my preference...Formula, calculation of the strength make difference ..again according to calculations which one is more accurate...? Accuracy is more important then preference. Thank you.
  • #114
  • Nov 25, 2015 8:00pm Nov 25, 2015 8:00pm
Quoting ruma29
{quote} I was asking about accuracy based on stochastic parameters and not about my preference...Formula, calculation of the strength make difference ..again according to calculations which one is more accurate...? Accuracy is more important then preference. Thank you.
Changing the parameters won't change how the strength is calculated (formula) ... so won't change the accuracy ... The accuracy will be based on how you will use the result of the strength given by the tool.
MT4/MT5 EAs/Indicators/Alerts coder
  • #115
  • Nov 25, 2015 10:51pm Nov 25, 2015 10:51pm
Quoting FerruFx
{quote} Changing the parameters won't change how the strength is calculated (formula) ... so won't change the accuracy ... The accuracy will be based on how you will use the result of the strength given by the tool.

fxcm, nzdusd,h1,sto(34,3,3)=>8.7
fxcm, nzdusd,h1,sto(8,3,3)=>8.3

fxcm, nzdusd,h1,RSI(14)=>7.7
fxcm, nzdusd,h1,RSI(8)=>7.3

So there is difference on many ways...Please explain, strength numbers are affected.
Which indicator and which parameters of indicator give most accurate strength of currency?

Please test it yourself.
Thank you.
  • #116
  • Nov 25, 2015 11:00pm Nov 25, 2015 11:00pm
Quoting ruma29
{quote} fxcm, nzdusd,h1,sto(34,3,3)=>8.7 fxcm, nzdusd,h1,sto(8,3,3)=>8.3 fxcm, nzdusd,h1,RSI(14)=>7.7 fxcm, nzdusd,h1,RSI(8)=>7.3 So there is difference on many ways...Please explain, strength numbers are affected.
Of course numbers are not the same as you set different periods for the indicators. That's like when you apply a RSI line on chart. The line won't be the same if you set the period 14 or 50 ...

By looking your RSI line, you can't see the accuracy of the line ... This is how you will use this line in your trading. Same with the strength numbers.

You can see the accuracy of an indicator only when it gives signal to buy and sell ... That's not the case here.
MT4/MT5 EAs/Indicators/Alerts coder
  • #117
  • Nov 25, 2015 11:55pm Nov 25, 2015 11:55pm
Quoting FerruFx
....Of course numbers are not the same as you set different periods for the indicators. .
That is not true..Strength is strength regardless of indicators and their parameters used for measuring strength. If it gives different results for strength then it misleads and is useless...

mass of 1Kg is always mass of 1Kg and cannot be changed because one use different scales for measuring mass.
Same applies for strength indicator( measuring strength).
  • #118
  • Nov 26, 2015 12:04am Nov 26, 2015 12:04am
Quoting ruma29
{quote} That is not true..Strength is strength regardless of indicators and their parameters used for measuring strength. If it gives different results for strength then it misleads and is useless... mass of 1Kg is always mass of 1Kg and cannot be changed because one use different scales for measuring mass. Same applies for strength indicator( measuring strength).
You are missing the most important in this tool : the period over which the strength is calculated. I am not talking about the indicators period but the strength period.

If you think an indicator has the same strength no mater how far you are looking back, you're definitively wrong ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #119
  • Nov 26, 2015 1:46am Nov 26, 2015 1:46am
Quoting FerruFx
...If you think an indicator has the same strength no mater how far you are looking back, you're definitively wrong ...

Well not. Within one-hour time frame: Different indicators gives different result(strength) within one hour is unreliable indicator...

Even same indicator: just changing parameters gives different result...It is wrong concept of indicator I think...
  • #120
  • Nov 26, 2015 2:02am Nov 26, 2015 2:02am
Quoting ruma29
{quote} Even same indicator: just changing parameters gives different result...It is wrong concept of indicator I think...
If changing the parameters of an indicator wouldn't change its result, what would be the purpose of the parameters ?

Anyway, if you think this FFx tool isn't right for you, I would highly suggest you to skip it ...
MT4/MT5 EAs/Indicators/Alerts coder
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