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Trading system using relative strength

  • #2,561
  • Dec 11, 2015 3:37am Dec 11, 2015 3:37am
Quoting redwed
{quote} His tp is quite too small, and the lot is too big. Look carefully.
Hi Redwed and Guys,

Good day, I found this method easy and profitable. I just finished until page 25 and there are ard 100 pages more. Could give me which is the post is important from page 25 onwards (if you don't mind).

And based on your tradings, when you will open the trade? Time in GMT and also could you guys please share your broker's server time.


Looking forward for your reply.


Regards,
  • #2,562
  • Dec 11, 2015 4:10am Dec 11, 2015 4:10am
Reading up on this indicator, it doesn't seem that it was intended to be used the way the OP has, which maybe why he failed to make it work for him. Could someone tell me what the circled numbers are below?? and what is PTO??

Attached Image (click to enlarge)
Click to Enlarge Name: 11121.png Size: 171 KB


Yesterdays results, bear in mind they did go over £1000 in profit within the first half hour, but I kept them open anyway to play with the dashboard, so it was kind of a success even though by the end of the day they'd slumped.

Attached Image (click to enlarge)
Click to Enlarge Name: res4.png Size: 51 KB
  • #2,563
  • Edited 7:06am Dec 11, 2015 6:30am | Edited 7:06am
Quoting Wholesome
Reading up on this indicator, it doesn't seem that it was intended to be used the way the OP has, which maybe why he failed to make it work for him. Could someone tell me what the circled numbers are below?? and what is PTO?? {image} Yesterdays results, bear in mind they did go over 1000 in profit within the first half hour, but I kept them open anyway to play with the dashboard, so it was kind of a success even though by the end of the day they'd slumped. {image}
Which indicator you're referring to?

The circle numbers are only Currency Strength meter. One of the articles that explains this in great detail is here. Another latest currency strength meter is called universal strength meter, created by FerruFx.

Look at the examples of currency strength below with the dashboard version.

Attached Image (click to enlarge)
Click to Enlarge Name: ! this is the dashboard.png Size: 120 KB


Attached Image (click to enlarge)
Click to Enlarge Name: ! this is the dashboard 2.png Size: 35 KB


You can see that dashboard, csdash and currency strength giraia all give the same reading (both screenshots taken seconds between them).

I don't know what is PTO. It might be Price to Open (if i'm not mistaken).

The system works but as i said before, we need to consider when we should take the trades and get out of the trades? Managing the drawdown of H4 entry by refining entries in lower TF will be great advantage to us. And, identifying retracement of trend in lower timeframe will give early exit signal to our side.

That's what i think.

But going lower than 15m chart will give slight problems.

  1. more screen time.
  2. small range pips in 5m chart to compensate the spread and commission. Especially when we played GN and GCHF.

As for the TP and SL, one need to create their own risk profile and good money management. This system along sound money management will give great result in the long run (as long one doesn't rely solely on h4 trend).

The system is getting more detailed from 2008 until 2013. More improvement and unnecessary modifying were taken place until ES Trader closed the thread on Oct 17 2008.

Regards.

  • #2,564
  • Edited 6:53am Dec 11, 2015 6:42am | Edited 6:53am
Quoting trader1234
Do you have the "timer setting" at the default setting of 240 (4hrs) on the 15min/30min ?
timer setting will ONLY affect BAR END timer. The suggestions however are made based on your tf selection(s). Timer setting will not affect the suggestion.

Attached Image (click to enlarge)
Click to Enlarge Name: ! 1 minute timer setting.png Size: 23 KB


Anyway if you're refering to the chart i'm posting there, the bar end is 4 minutes and 10 seconds. Not 4 hour and 10 seconds.

Hope this clear out the confusion.

Make sure you understand the concept behind CCFp-Diff MTF and CC-Diff MTF first before applying their suggestions.

Have a great journey ahead!
  • #2,565
  • Dec 11, 2015 6:52am Dec 11, 2015 6:52am
Quoting jay280584
{quote} Hi Redwed and Guys, Good day, I found this method easy and profitable. I just finished until page 25 and there are ard 100 pages more. Could give me which is the post is important from page 25 onwards (if you don't mind). And based on your tradings, when you will open the trade? Time in GMT and also could you guys please share your broker's server time. Looking forward for your reply. Regards,
first, the main heart of the system is understanding what is CCFp and CC is.

Read here and here. THIS IS IMPORTANT ARTICLES in understanding CCFp and CC. Please read.

Second, you need to understand the inertial behavior of CCFp/CC.

Here, you can see it in action.

Attached Image (click to enlarge)
Click to Enlarge Name: ! hope this explains the extreme.png Size: 37 KB


The red lines are SELL. and the green lines are BUY. Read more from here.

Hope it explains a lot. Happy trading!
  • #2,566
  • Dec 11, 2015 7:38am Dec 11, 2015 7:38am
Thanks Red, there's a lot to get to grips with, was trying to keep it simple. Using the 4hr as I have this week really amounts to scalping as there's not been strict tp/sl, could have taken about 10% account profit.

I'll have a read through the links at the weekend, (the very last link you posted in post #2565 is dead btw)
Attached Image
  • #2,567
  • Edited 7:54am Dec 11, 2015 7:41am | Edited 7:54am
Quoting Wholesome
Thanks Red, there's a lot to get to grips with, was trying to keep it simple. Using the 4hr as I have this week really amounts to scalping as there's not been strict tp/sl, could have taken about 10% account profit. I'll have a read through the links at the weekend, (the very last link you posted in post #2565 is dead btw) {image}
Keeping it simple is one problem
Making it precise with little drawdown is another problem

One question: how big is your account before this?
the link is working perfectly, please check again.
  • #2,568
  • Edited 8:38am Dec 11, 2015 8:27am | Edited 8:38am
@Redwed

Bro I'm exactly following your techniques . I mean how you did in those 3 days from august. I am getting the exact same result like yours. So much TP hit , less SL hit. But TP is set at 10 pips and SL at 30 pips.The Risk:Reward ratio is balanced though as i have more TP hit than SL. But, one thing i noticed that most of the trades crosses more than +25 pips. So, should i set a TP or let it run and watch out for reversal candles/ Support/Resistance etc. Need your opinion on this

I am using

Indicator: CCFp-Diff [v2.0-MTF]
Settings- TF- 15/H1/H4
Trade Level Set to 1
Broker: Exness
Session: London, NY
  • #2,569
  • Dec 11, 2015 9:52am Dec 11, 2015 9:52am
Quoting Rafsan
@Redwed Bro I'm exactly following your techniques . I mean how you did in those 3 days from august. I am getting the exact same result like yours. So much TP hit , less SL hit. But TP is set at 10 pips and SL at 30 pips.The Risk:Reward ratio is balanced though as i have more TP hit than SL. But, one thing i noticed that most of the trades crosses more than +25 pips. So, should i set a TP or let it run and watch out for reversal candles/ Support/Resistance etc. Need your opinion on this I am using Indicator: CCFp-Diff [v2.0-MTF] Settings- TF-...
Wow. Thats great to know. Can you show me the records of the trades. I want to be detailed about the time of day, on what day do you take the trades. Monday and friday is known to be least-trending/chaos market as market starting/ending in a week. Would like to hear your observations.

Before shooting the questions up, best criteria to be out of the trade maybe looking individually at CCFp (or CC whichever one uses). What i mean was, we ENTER using the CCFp/CC, we also need to EXIT with them. I will probably explains it a bit more later. Not to say i'm against reversal candles/S&R and whatever signals on the chart, but i have my own preferences. We will go through this as a process. You'll find it later when i got time to posts them.

In case if you're using CCFp-Diff, it's fine to taking entries with them. The underlying problem is when we need to exit the trade, CCFp-Diff is not the best one to based our EXIT on. We should use CCFp to determine, whether it's time to grab the pips out of the market. Am i right? I already explain it very briefly in post 2542.

More questions i would like to consider you answering is

  1. Is it taken strictly from Euro open until Euro close? Or you have modified some rules? Maybe LOndon open until London close? Or maybe early hours of euro open and NY open?
  2. Do you avoid taking trades around news announcements? If it is so, for how long before and after them?
  3. How you handle the recurring suggestions? Do you wait till your current order on the pair is closed? Or you just double up the position?

Take your time to answer them. I hope we can defined them more detailed as we go through this. I hope to hear from you (and others too) soon.

We can make a fortune from this. I myself need some extra hand in defining, tuning up the entry/exit.

Thank you for the interest!

  • #2,570
  • Dec 11, 2015 10:13am Dec 11, 2015 10:13am
@redweed

I start trading around 4pm-9pm here. ( London session opens at 2pm and NY at 7pm at my time). I enter in the trade when i get the signal from the indicator.

Answer to your questions:
1. Yes just in between the London and NY session. But i don't trade in the last 6 hours of NY session. To me it seems the liquidity drops gradually. No, i didn't modified any rules.
2. Actually i didn't cared about the news very much. Rather my TP got hit faster during/before/after the news time.
3. As for the recurring suggestions i wait till my current order is closed.
  • #2,571
  • Dec 11, 2015 10:29am Dec 11, 2015 10:29am
Quoting Rafsan
@redweed I start trading around 4pm-9pm here. ( London session opens at 2pm and NY at 7pm at my time). I enter in the trade when i get the signal from the indicator. Answer to your questions: 1. Yes just in between the London and NY session. But i don't trade in the last 6 hours of NY session. To me it seems the liquidity drops gradually. No, i didn't modified any rules. 2. Actually i didn't cared about the news very much. Rather my TP got hit faster during/before/after the news time. 3. As for the recurring suggestions i wait till my current order...
Mind sharing me your trades. Maybe we'll look into our 'tp problem' a bit further afterwards.
  • #2,572
  • Dec 11, 2015 10:36am Dec 11, 2015 10:36am
I wanted to share. But, i accidentally opened a new demo account on the same broker( i am trying on multiple broker). History got erased. Anyway i can recover the history?. Oh and i also tried trading in Monday and Friday. It also works but not that good. In the end of the day you will have the same balance.
  • #2,573
  • Dec 11, 2015 10:41am Dec 11, 2015 10:41am
Quoting Rafsan
I wanted to share. But, i accidentally opened a new demo account on the same broker( i am trying on multiple broker). History got erased. Anyway i can recover the history?. Oh and i also tried trading in Monday and Friday. It also works but not that good. In the end of the day you will have the same balance.
if om not mistaken, you said that you use exness for the testing right? Just go to your client cabinet and get the account from there. I guess the account will be there.
  • #2,574
  • Dec 11, 2015 12:50pm Dec 11, 2015 12:50pm
Quoting Ronald Raygun
I almost doubled the account in a day through a completely automated setup. Each EA is set with a 100 pip SL and 30 pip TS with move to BE + 1 at 30 pips. I'm riding a pretty big loss right now. {image}
Hi Ronald,

Good day, thanks for creation EA for this strategy. I've tried use the EA, its not placing an order. Why?
Below is the log from Experts Tab for your reference.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 75 KB


Looking forward for your reply.

Regards
  • #2,575
  • Dec 11, 2015 2:16pm Dec 11, 2015 2:16pm
I assume that no one has had any success using the Currency MeterV3 by itself?
  • #2,576
  • Dec 11, 2015 3:39pm Dec 11, 2015 3:39pm
Quoting stringfx
some food for thought. Notice in the USM, chf and eur seems to be strong on higher time frames. The reason behind this could be that usd is weaker which is pushing these pairs up. Many analysts think there is one more push up in usd index (elliot wave principle). I also notice that after a wave 4 we have 3 completed sub waves which exactly point to 161.8 and usd index could be retracing for a 4th wave to 50% which seems to have completed. So if you notice usd strengthening in the coming weeks and eur and chf weakening, then a sell is on on eur/usd...
[/highlight]


As mentioned in the previous post on usdcad, it has performed as per expectations. achieved good profits on that pair just by trading 2 dollars a pip. since cad is already weak and usd is at a point in which it can go up. i took the trades with the help of usm and fibs.
Attached Image (click to enlarge)
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STING
  • #2,577
  • Dec 11, 2015 3:42pm Dec 11, 2015 3:42pm
Quoting since80808
{quote} Hi and thanks for sharing! Now trying to use your way of TP setting. Have you selected one or two USI-indicators for yourself? TOOOOO HARD to decide where more geen lines
try it out my friend....

Did not understand your question though
STING
  • #2,578
  • Dec 12, 2015 5:51pm Dec 12, 2015 5:51pm
My friend took some trades last friday.

Shown here is alpari, time +0300.

Jpy gaining some strength across all pair.

Attached Image (click to enlarge)
Click to Enlarge Name: ! Last friday.png Size: 96 KB


Attached Image (click to enlarge)
Click to Enlarge Name: ! alpari 0300.PNG Size: 117 KB


Hope you guys get the same trades too!
  • #2,579
  • Edited 7:36pm Dec 13, 2015 4:16am | Edited 7:36pm
I've been using the following with some good results over the last 3 weeks.

Indicator: ccfp-div_v1.03

Weekly Timeframe
Trade Level 2
Every other setting at default values

week1 510pips
week2 240pips
week3 730pips

All suggested pairs made by indicator were taken.
Trades taken @ beginning of the week (Anytime from market open till 6 hours after market opens)
Trades closed before fridays london open.


Indicator: ccp_div_2.0

Daily Timeframe
Trade Level 2
Every other setting at default values

Week 1 -5, 100, 250 -50 = 295pips
Week 2 130, -40, 145, 90 = 325pips
Week 3 70, 55, 150, 80 = 355pips

Trades taken within 2/3 hours after new trading day begins
Trades closed within 2/3 hours before new trading day begins

These are all total pip values, not dollar value.
I did not use take profit levels or stop levels, just manually closed them within the timeframe mentioned.

During this time i have also tried the various timeframe settings on both the ccfpdiv_v1.03 and v1.02 (ie.. 4hr, daily, weekly) with various trade levels (specifically 1 and 2). But these 2 settings on these 2 indicators gave the best results thus far.

I'll post the trades when I get the chance, but I just wanted to throw my findings out to you guys.
  • #2,580
  • Dec 13, 2015 4:19am Dec 13, 2015 4:19am
forgot too mention that my broker time is GMT+2

And both indicators can be found in this thread under the attachments.
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