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28pair Currency Strength double-GAP Momentum Strategy

  • #501
  • Feb 19, 2016 10:43am Feb 19, 2016 10:43am
EURAUD 14 pip + 60 pip
m15
Attached Image (click to enlarge)
Click to Enlarge Name: cIqq4qX.png Size: 51 KB
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #502
  • Feb 20, 2016 3:58pm Feb 20, 2016 3:58pm
Bernhard,
Thanks for the reply, however I am not clear. Please do not take this as an offence, but I want to clear my frustration following this system.

1.
>A CS line must drop or rise in a defined angle over 2 periods.
How do you define over 2 periods? for example 1H and 5M, do you wait for 1H to CLOSE two BARS CONSECUTIVELY to opposing direction?AND THEN look for 5min?
OR look for 5min to CLOSE 2 BARS opposing direction and THEN confirm 1H matched with CLOSED 2 bars?
clarification of this logic makes lot when trading timing.

2. As a system, is it look at High to Low TF approach or Low to High TF?

3. How do you define it has moved 2 bars? just eyeballing? or place cursor to identify the strength data?

4. How important is CLOSE of the bar when you take trades. waiting 1H for 5min trade does not seems to be your style but it direction changes at close especially near market open time.

5. >The higher is least two TFs higher.
What do you mean by two TF higher? my understanding of 2TF + will be
1M - higher than 15M. (5M/30M, 15M/1H,1H/D1,4H/1W)
but I dont find your trades with such TF difference in most cases. (eg, 4H-1D. 5M-15) what is the basic idea for referencing TF.

I believe I am not the only one who has these questions...

Thanks,
fxbell


Quoting Bernhard
{quote} fxbell you are welcome but you do not need to print your questions so big. As mentioned in the thread a cross of CS line is not much important. My rule for a GAP is clear. A CS line must drop or rise in a defined angle over 2 periods. Then you check other CS if it match for an opponent to get a double GAP. This you repeat on two time frames. The higher is least two TFs higher. And why not enter HERE? It was time to sleep for me and if you see the white horizontal line it is the period change of H4 so Weekend to Sunday, timing: no entry here....
  • #503
  • Feb 21, 2016 2:12am Feb 21, 2016 2:12am
Quoting fxbell
Bernhard, Thanks for the reply, however I am not clear. {quote}
First answer me one question: are you experienced trader or beginner? You need more experience with trading. So I think your frustration is with trading and not about this system.

1.A CS line must drop or rise in a defined angle over 2 periods. How do you define over 2 periods? for example 1H and 5M, do you wait for 1H to CLOSE two BARS CONSECUTIVELY to opposing direction?AND THEN look for 5min? OR look for 5min to CLOSE 2 BARS opposing direction and THEN confirm 1H matched with CLOSED 2 bars? clarification of this logic makes lot when trading timing.

What is here unclear? 2 periods of h1 is 2 hours. 2 periods of m5 is 10 minutes.

2. As a system, is it look at High to Low TF approach or Low to High TF?

What you look first doesn't matter it is same results! Just if you look the higher TF first it is less work

3. How do you define it has moved 2 bars? just eyeballing? or place cursor to identify the strength data?

Put 2 vertical lines if you need to. But it is also important were it happen or how was coming the past CS-line. (already posted, read back)

4. How important is CLOSE of the bar when you take trades. waiting 1H for 5min trade does not seems to be your style but it direction changes at close especially near market open time.

The signal for the double GAP is valid for the next period. Read back.

5. >The higher is least two TFs higher. What do you mean by two TF higher? my understanding of 2TF + will be 1M - higher than 15M. (5M/30M, 15M/1H,1H/D1,4H/1W) but I dont find your trades with such TF difference in most cases. (eg, 4H-1D. 5M-15) what is the basic idea for referencing TF.

Is the market just opening (London Open) or are there red news? Then apply TFs smaller. My advice in general try higher TFs. Do not try below m15 if you are beginner. There is to much noise. Signals are more reliable in higher TFs. If possible try to be in agreement of h4.

Timing: Try to catch a new trend from London open +15min until 3 hours later and avoid the first 2 hours from NY Open. Around London close look for reversals.

Look what I have posted early on page 2 and I can not repeat enough

Quoting Bernhard
{quote} Also for me is more important the slope how steep is the CS-line and from were it is coming. 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.
Any system is ultimately worthless in the hands of someone who doesn't know how to trade, just as a recipe is worthless in the hands of someone who doesn't know how to cook.

Maybe I post some rules how to read the chart for beginners later if I have time.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #504
  • Feb 21, 2016 4:17am Feb 21, 2016 4:17am
Bernhard: Thank you for your reply above to fxbell. It has compiled some of the CStrength28 essentials into one area.

To enable an easier read/review of your concepts, I have exported your entire 26-page thread, converting it into one complete PDF file using Adobe's Acrobat. I uploaded it to my iPad for easy access. It is over 130 pages, so it can be a bit overwhelming/intimidating for one to extract the nuggets of information.

Perhaps when you have some spare time, you could create a complete summary of the essential elements of how to use and apply the tool and somehow pin that summary somewhere easily found within this thread. Additionally, it might prove helpful if you were to permit someone to read and edit/clarify such a summary before posting. With English not being your first language, some readers may be a bit confused. I'm sure I would amuse many were I to attempt to use my German after 50+ years of having had two years of foreign language!! Please know that I have no intention to offend by my comments here, but instead have love in my heart.

Thank you again for creating and sharing the CStrength28 indicator. It has become part of my trading foundation. Coupled with my focus on price action and profit targets identified using price chart FIB extensions (especially the 127.2 level), your indicator has taken my trading to another level of success.

Lightheart
  • #505
  • Feb 21, 2016 5:53am Feb 21, 2016 5:53am
Take only the info which Bernhard giving us some guide + pictures, that will make you A4 size 26 page of word file. I made that one for myself.
Kibria
  • #506
  • Feb 21, 2016 6:41am Feb 21, 2016 6:41am
Here is a short video of how I am using Bernhard's strength meter:

https://db.tt/voVCMeG3
  • #507
  • Feb 21, 2016 7:07am Feb 21, 2016 7:07am
Very Good trading, keep it up.

For me, with CStrength28 I use EMA 5 with shift 2, TF = 15 min. That's all keep it simple. You can use any system with this great stuff.

Thanks

NB : Also use trading time indicator for perfect timing (it is a good one).

Quoting Lightheart
Here is a short video of how I am using Bernhard's strength meter: https://db.tt/voVCMeG3
Kibria
  • #508
  • Feb 21, 2016 7:19am Feb 21, 2016 7:19am
Quoting gkb46
Very Good trading, keep it up. For me, with CStrength28 I use EMA 5 with shift 2, TF = 15 min. That's all keep it simple. You can use any system with this great stuff. Thanks NB : Also use trading time indicator for perfect timing (it is a good one). {quote}
Thanks!

1] Have you experimented using a NEGATIVE shift 2 on your 5EMA?, and
2] what is the trading time indicator you refer to?

Lightheart
  • #509
  • Feb 21, 2016 7:27am Feb 21, 2016 7:27am
Quoting Lightheart
Here is a short video of how I am using Bernhard's strength meter: https://db.tt/voVCMeG3
nice video, well done
and yes I appreciate if you can help out with English.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #510
  • Feb 21, 2016 7:38am Feb 21, 2016 7:38am
Quoting Bernhard
{quote} nice video, well done and yes I appreciate if you can help out with English.
I believe the only thing he didn't do correctly was abide by the 50 mark rule. The X was below that mark and there should not have been a trade. It was an aggressive choice.
  • #511
  • Feb 21, 2016 7:48am Feb 21, 2016 7:48am
Quoting Lightheart
Here is a short video of how I am using Bernhard's strength meter: https://db.tt/voVCMeG3
hi L,

doing analysis looking back in the history imo is not something one could trade off or make analysis. Imo the indicator repaints and while indexes really look nicely moving in preferred direction, when trading live this would look differently. lots of direction signals which does not deliver at the end.
  • #512
  • Feb 21, 2016 7:56am Feb 21, 2016 7:56am
Quoting 21vs7
{quote} hi L, doing analysis looking back in the history imo is not something one could trade off or make analysis. Imo the indicator repaints and while indexes really look nicely moving in preferred direction, when trading live this would look differently. lots of direction signals which does not deliver at the end.
You do not have the indicator and you did not read the thread. I said many times there is no repaint.
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #513
  • Feb 21, 2016 8:06am Feb 21, 2016 8:06am
Quoting aagarcia
{quote} I believe the only thing he didn't do correctly was abide by the 50 mark rule. The X was below that mark and there should not have been a trade. It was an aggressive choice.
Thank you for your comment AAGarcia. I am still working to better understand the use of that part of the rules as I often see good setups where the "x" is not yet above the zero line on the M5 time frame. I am not known as a rule follower and failing to do so does get me into some trouble from time to time. I mostly scalp the fast time frames in my trading, so I suspect it is more relevant to me than others trading the higher time frames.

Lightheart
  • #514
  • Feb 21, 2016 8:47am Feb 21, 2016 8:47am
Quoting 21vs7
{quote} hi L, doing analysis looking back in the history imo is not something one could trade off or make analysis. Imo the indicator repaints and while indexes really look nicely moving in preferred direction, when trading live this would look differently. lots of direction signals which does not deliver at the end.
Thank you 21vs7. I have a gadget that takes a screenshot of a chart every minute. It does so in the background while I trade. I have used it with other indicators to determine if there is significant repainting. Perhaps I will install the gadget on one of my trading charts that features the CStrength28 indicator to prove or disprove your position with empirical evidence. I have no settled opinion one way or another except to say my trading has been going well using the CStrength28 together with my other indicators.
  • #515
  • Feb 21, 2016 9:51am Feb 21, 2016 9:51am
Quoting Lightheart
{quote} Thank you 21vs7. I have a gadget that takes a screenshot of a chart every minute. It does so in the background while I trade. I have used it with other indicators to determine if there is significant repainting. Perhaps I will install the gadget on one of my trading charts that features the CStrength28 indicator to prove or disprove your position with empirical evidence. I have no settled opinion one way or another except to say my trading has been going well using the CStrength28 together with my other indicators.
Yes, that would be excellent idea. Please make this analysis as objective as possible. (several TFs and several currency pairs, with good pictures). Cool. Imo all curve should move up or down etc when time goes and particular currency pair moves in one direction. But im open to suggestions.
If im wrong, your analysis is spot on and one can really move into testing the history. Otherwizze its pretty much harder.
on second note, yes..this index indicators can really help you around the market.
add me when you will report your findings
  • #516
  • Feb 21, 2016 10:40am Feb 21, 2016 10:40am
Please read post 412

just make sure your mt4 have all required history to calculate the CS lines
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
  • #517
  • Feb 21, 2016 6:33pm Feb 21, 2016 6:33pm
Hi Bernhard,

To answer your question, I am fairly experience trader with +5yrs experience earning reasonable pips using 5M 15M as entry TF and 1H as higher. I follow trend following - scalp and session trade. I have my own trading style but wanted to improve more pair selection.

However, it is good idea you put together what you think is basic, especially if you want to avoid repetitive question. or put everything together and put in post #1.

fxbell


Quoting Bernhard
{quote} First answer me one question: are you experienced trader or beginner? You need more experience with trading. So I think your frustration is with trading and not about this system. 1.A CS line must drop or rise in a defined angle over 2 periods. How do you define over 2 periods? for example 1H and 5M, do you wait for 1H to CLOSE two BARS CONSECUTIVELY to opposing direction?AND THEN look for 5min? OR look for 5min to CLOSE 2 BARS opposing direction and THEN confirm 1H matched with CLOSED 2 bars? clarification of this logic makes lot when trading...
  • #518
  • Feb 21, 2016 10:34pm Feb 21, 2016 10:34pm
Sorry to interrupt you here. This is a commercial thread now, without his (Mr. Bernhard) CStrength28 you will never understand what he is saying here.

This whole thread is for the people who collected it from him, and he is guiding us with more clue, fine tuning, etc. Moreover mostly we are happy with that.

Thanks & regards,

Quoting fxbell
Hi Bernhard, To answer your question, I am fairly experience trader with +5yrs experience earning reasonable pips using 5M 15M as entry TF and 1H as higher. I follow trend following - scalp and session trade. I have my own trading style but wanted to improve more pair selection. However, it is good idea you put together what you think is basic, especially if you want to avoid repetitive question. or put everything together and put in post #1. fxbell {quote}
Kibria
  • #519
  • Feb 21, 2016 10:56pm Feb 21, 2016 10:56pm
gkb46,

What do you mean? I do have CStrength28 indicator and i guess I this place is open to ask question as long as I read through the thread and have been monitoring indicator movements.



Quoting gkb46
Sorry to interrupt you here. This is a commercial thread now, without his (Mr. Bernhard) CStrength28 you will never understand what he is saying here. This whole thread is for the people who collected it from him, and he is guiding us with more clue, fine tuning, etc. Moreover mostly we are happy with that. Thanks & regards, {quote}
  • #520
  • Feb 21, 2016 11:16pm Feb 21, 2016 11:16pm
People shouldn't have a problem with fxbell asking questions. To be honest this thread isn't that clear, I'm unsure if it's the English translation or the fact that the directions of use are spread out over 26 pages. It is however a very useful tool and can only benefit ones trading when used properly. The basis of 2 TF for a clear signal is pretty easy to follow and all laid out on the first page of this thread but the additional rules one uses to clearly work out the best trades are still up to the individual and only hints on the best techniques are giving. I use this more to find the best entry for trades not to determine what pairs to trade. This indi has been able to reduce my draw down by an ave of 50% so awesome job Bernhard, keep it up.
'Stability breeds Instability' Hyman Minsky
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