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Attachments: 28pair Currency Strength double-GAP Momentum Strategy
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28pair Currency Strength double-GAP Momentum Strategy

  • #121
  • Jan 9, 2016 1:30pm Jan 9, 2016 1:30pm
Bernhard, may i ask 2 conjunct question about your indicator and trading system.

  1. I know ordinary momentum indicator for one cuurency pair and understand how it works. But i hardly imagine this indicator for all 28 currency pairs. Is it average arithmetical mean or something else? How is it calculated if it is not a secret?
  2. Your post:

Quoting Bernhard
{quote} Second hint: this is not about the 2 currency's mentioned but about the market as a whole. The market momentum* is rising as long a trend it supported. When the trend weakens or reverse the market momentum drops in the beginning. *the gray dashed line {image} {image}
A whole market consists of 28 currency pairs and not all of them are trending of flatting simultaneously. For example EURUSD is trending while GBPCHF in flat at the same time and TF. How can we apply momentum market indicator to any currency pair in this conditions? Imho it cannt be universal.

I think it will be better at first to define the best double gap cuurency pair for placing the trade and next step to open its separate chart with ordinary momentum indicator.

BR, alex.
BR, alex
  • #122
  • Jan 9, 2016 1:42pm Jan 9, 2016 1:42pm
Quoting Bernhard
{quote} so lets solve the riddle The double GAP seen in the 2 currency should be now clear to everyone. We see clear how EUR and AUD is reversing in both TFs. But there is more.... First hint: we have market fibonacci retracement zones of 161 and 261. When a currency hit this levels (not always hit the exact level its a zone but very often the level hit nicely) we expect pullbacks or reversal. Before Frankfurt open I don't expect to much extremes that's why I accept the first to be lower as the second. Second hint: this is not about...
Hello Master,

Tks for the explanation and precious tips!!
  • #123
  • Edited 1:56pm Jan 9, 2016 1:44pm | Edited 1:56pm
Quoting Dkmillion
I am using your template but for some reason I don't get the market sessions on the chart? https://gyazo.com/fea59099705efe072980e0eddecba0c5
Welcome. Yes the market sessions are an other indicator. Try this one. I modified to see the lines also in the subwindow and edit the time to be correct.
Someone else asked me already, but its saturday and I had a strong week.
Attached File(s)
File Type: ex4 TradingTimes.ex4   32 KB | 964 downloads
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #124
  • Jan 9, 2016 1:53pm Jan 9, 2016 1:53pm
Quoting sevan62
Bernhard, may i ask 2 conjunct question about your indicator and trading system. I know ordinary momentum indicator for one cuurency pair and understand how it works. But i hardly imagine this indicator for all 28 currency pairs. Is it average arithmetical mean or something else? How is it calculated if it is not a secret? Your post: {quote} A whole market consists of 28 currency pairs and not all of them are trending of flatting simultaneously. For example EURUSD is trending while GBPCHF in flat at the same time and TF. How can we apply momentum...
Welcome sevan
If you read post 1 and post 2 there is explained the FX market (market = 8 currency = 28 pairs). simple if something is bought something else must be sold, else it could not be bought. So you need to analyze what currency is sold for the one(s) is bought. And all those together is the market momentum. easily seen each day when London opens or when red news are released. The pairs which are consolidated at that time we do not trade.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #125
  • Jan 9, 2016 1:55pm Jan 9, 2016 1:55pm
Quoting Idris.Brazil
{quote} Hello Master, Tks for the explanation and precious tips!!
Thanks and welcome Idris.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #126
  • Jan 9, 2016 3:24pm Jan 9, 2016 3:24pm
Perhaps it will be useful to read:
"Theoretical Basis of Building Cluster Indicators for FOREX"
"Practical Application of Cluster Indicators in FOREX"
BR, alex
  • #127
  • Jan 9, 2016 4:11pm Jan 9, 2016 4:11pm
Quoting sevan62
Perhaps it will be useful to read: "Theoretical Basis of Building Cluster Indicators for FOREX" "Practical Application of Cluster Indicators in FOREX"
Thank you sevan, this is interesting to read.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #128
  • Jan 9, 2016 11:16pm Jan 9, 2016 11:16pm
Quoting Bernhard
{quote} Already all is said before. The main concept is to have the whole market in one eye to see what is going on. Then open the related chart and apply any system the trader is used to.
Thanks Bernhard for CStrength28. I am new to the concept and still have plenty to learn on how to use the tool.
On Friday, after NY open, I was able to catch some EURNZD demo pips.

EUR was very strong and NZD was very weak.
I looked to short because I did not want to buy the high. ADR was over extended.
So it was a counter-trend scalp short on the M5. Higher TFs, M15 to H4 were showing long conditions.
M5 at the extremes: EUR coming down from the Market 161 and NZD coming up from the Market 261.
Bear harmonics on M5 and M15.

Please look at the attached chart and share any comments.
1- Do you look at level 0 at all?
2- The slope on the currency cross is more important than the cross itself right?

I am sure we the "students" would appreciate your tips very much.
Thanks again!

Attached Image (click to enlarge)
Click to Enlarge Name: EN MTF (counter-trend short) 01.08.2016-10.30.png Size: 172 KB
  • #129
  • Edited 3:25am Jan 10, 2016 1:59am | Edited 3:25am
Quoting pax
{quote} Thanks Bernhard for CStrength28. I am new to the concept and still have plenty to learn on how to use the tool. On Friday, after NY open, I was able to catch some EURNZD demo pips. EUR was very strong and NZD was very weak. I looked to short because I did not want to buy the high. ADR was over extended. So it was a counter-trend scalp short on the M5. Higher TFs, M15 to H4 were showing long conditions. M5 at the extremes: EUR coming down from the Market 161 and NZD coming up from the Market 261. Bear harmonics on M5 and M15. Please look...
Why you do look for a short if Euro is strong and NZD is weak in higher TF? Yes if you are an experienced scalper then you can do that catch a pullback on a resistance or supply zone but its much harder to do. You can use a falling market momentum as hint. And better information may be with m1 for scalp. Its correct to expect a pullback when m5 is at 161 or 261 market fibonnacci zone.

But when it resume in direction of the trend we can have an entry for the long on a pullback.
The better trade would have been in the beginning of the move for a long and would have payed the double or triple of pips with much lesser risk. I do not go against the higher TF trend as long it do not show a hook and weakness.

The null level give information of the sentiment but is not a trigger on its own.
Slope is important but like chart reading of PA you need to read the full picture. From were it comes at what level it is what market momentum does.
And at last analyze the chart itself and apply your trading system.
Wish you many green pips!
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #130
  • Jan 10, 2016 3:29am Jan 10, 2016 3:29am
Some note about Momentum we do not like to mix it up. We have 3 levels of momentum.

  1. momentum of a pair (which is build of base and quote currency)
  2. momentum of a currency (which is calculated of 7 pairs)
  3. momentum of Market (which is calculated of 8 currencies)

Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #131
  • Jan 10, 2016 5:14am Jan 10, 2016 5:14am
Sorry to ask people BUT where is this indicator 28pair Currency Strength double GAP momentum strategy? I just see pictures but no one attach here the indicator with the sub window indicator with FIB values.
Can someone give is this indicator.
Thanks
  • #132
  • Jan 10, 2016 6:25am Jan 10, 2016 6:25am
Thanks for the Market times indicator Bernhardt it is perfect!
  • #133
  • Jan 10, 2016 7:14am Jan 10, 2016 7:14am
Bernard hello , thanks for the indicator . another forum you spoke of Ea ( automated trading ) . all day long I'm away from the computer . when and if you can get the Ea ? Thank you in advance luca
  • #134
  • Jan 10, 2016 7:57am Jan 10, 2016 7:57am
Quoting traderhobby
Bernard hello , thanks for the indicator . another forum you spoke of Ea ( automated trading ) . all day long I'm away from the computer . when and if you can get the Ea ? Thank you in advance luca
Be patient the double GAP EA take a lot a lot more of programming and testing before it can be released.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #135
  • Jan 10, 2016 8:17am Jan 10, 2016 8:17am
Quoting Bernhard
{quote} Be patient the double GAP EA take a lot a lot more of programming and testing before it can be released.
thank you. i wait it

good work
  • #136
  • Jan 10, 2016 10:29am Jan 10, 2016 10:29am
Quoting pax
{quote} Thanks Bernhard for CStrength28. I am new to the concept and still have plenty to learn on how to use the tool. On Friday, after NY open, I was able to catch some EURNZD demo pips. EUR was very strong and NZD was very weak. I looked to short because I did not want to buy the high. ADR was over extended. So it was a counter-trend scalp short on the M5. Higher TFs, M15 to H4 were showing long conditions. M5 at the extremes: EUR coming down from the Market 161 and NZD coming up from the Market 261. Bear harmonics on M5 and M15. Please look...
it looks great! Could you put your template and indicators?
  • #137
  • Jan 10, 2016 10:47am Jan 10, 2016 10:47am
Pleasem can someoone share with us here with this indicator? With this currency pairs and lines? Its nice.
  • #138
  • Jan 10, 2016 11:14am Jan 10, 2016 11:14am
Quoting Bernhard
{quote} Why you do look for a short if Euro is strong and NZD is weak in higher TF? Yes if you are an experienced scalper then you can do that catch a pullback on a resistance or supply zone but its much harder to do. You can use a falling market momentum as hint. And better information may be with m1 for scalp. Its correct to expect a pullback when m5 is at 161 or 261 market fibonnacci zone. But when it resume in direction of the trend we can have an entry for the long on a pullback. The better trade would have been in the beginning of the move...
Bernhard:
Thank you for your insight!
  • #139
  • Jan 10, 2016 12:58pm Jan 10, 2016 12:58pm
Quoting Bernhard
{quote} first a fix of 0 to 100 is not good. It does not show you details when it goes into extreme levels. second it starts all lines from null, thats absolutely wrong. 3rd I invented a special calculation and this is secret

Can please give more details. it would be good for all, especially you, in fact, to have a free version. the original dahsboard thread where all this came to you, that thread was Open Source and we all collaborated. To be clear i'm not asking for your secret sauce calculation if you don't want to share it.....

thanks for understanding
  • #140
  • Jan 10, 2016 1:20pm Jan 10, 2016 1:20pm
Quoting dagoods
{quote} Can please give more details. it would be good for all, especially you, in fact, to have a free version. the original dahsboard thread where all this came to you, that thread was Open Source and we all collaborated. To be clear i'm not asking for your secret sauce calculation if you don't want to share it..... thanks for understanding
Read the thread from post 1, don't be so lazy!
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