Simple Correlation Indicator System | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

Gold/USD

Similar Threads

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

Keep it simple - Correlation Trading System 14 replies

MT4 MTF Correlation table and Correlation oscillator indicators 155 replies

Another great Breakout GBP/JPY System (Dachel's Simple system) 62 replies

EA for very simple correlation indicator 0 replies

Attachments: Simple Correlation Indicator System
Exit Attachments

Simple Correlation Indicator System

  • #101
  • Jun 10, 2016 3:57am Jun 10, 2016 3:57am
Quoting bhanugopal
{quote} Hi. Would it be possible for you to check why this indicator doesn't work with some brokers? For example, Tallinex. I have tried everything I know but some currencies like GBP, JPY only show as a straight line. This is also the case with the original indicator. Thanks
Just on Jpy?Or others too?
  • #102
  • Jun 10, 2016 3:59am Jun 10, 2016 3:59am
in inputs add suffix ecn should fix probleem
  • #103
  • Jun 10, 2016 4:28am Jun 10, 2016 4:28am
Quoting plind
in inputs add suffix ecn should fix probleem
The suffix could be a problem for all pairs/crosses not only in GBP/JPY...
  • #104
  • Jun 10, 2016 5:01am Jun 10, 2016 5:01am
Quoting leledc
Now it is refreshing itself... {file} {file}
Many thanks for the mod...I always wanted a number of bars input field added I was going to get my coder to add this in, but this is great, thanks so much for taking the time.
Trade to Live - Don't Live to Trade
  • #105
  • Jun 10, 2016 5:13am Jun 10, 2016 5:13am
Quoting leledc
{quote} Just on Jpy?Or others too?
NZD also.
  • #106
  • Jun 10, 2016 5:15am Jun 10, 2016 5:15am
Quoting plind
in inputs add suffix ecn should fix probleem
Thanks for your reply. Where in inputs shoud the suffix be added. In the code?
  • #107
  • Jun 10, 2016 5:26am Jun 10, 2016 5:26am
Quoting leledc
{quote} Just on Jpy?Or others too?
Attached 2 examples. The problem is with GBP, CHF, NZD & JPY from what I've seen so far.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPNZD.JPG Size: 143 KB
Click to Enlarge Name: USDCHF.JPG Size: 147 KB
  • #108
  • Jun 10, 2016 5:53am Jun 10, 2016 5:53am
Quoting kirkleaforex
{quote} Would you mind sharing the modified indicator with this thread? I am sure people would benefit from your generosity.
It is not mine to share.
Google can help.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #109
  • Jun 10, 2016 7:26am Jun 10, 2016 7:26am
Quoting TooSlow
{quote} It is not mine to share. Google can help.
https://www.kreslik.com/forums/theru...odified-t11849
  • #110
  • Jun 10, 2016 7:26am Jun 10, 2016 7:26am
Actually I think we don't have to talk about a "Correlation Indicator" but a "Strength Indicator".

As far as I know, Correlation is messured by Pearson-Spearman Test.

iCorrel is such an Index indicator. An index (e.g. Russel, Down Jones, etc....) is the ponderate addition of all its stocks. In this case, iCorrel messures the Strengh of the US Index (because it is created only with all USD crosses.)

So we have had something like that....

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


The construction of the indi must be, for every Currency Index:

- USD (index) = 1/EURUSD + (USDJPY/100) + USDCHF + 1/GBPUSD + 1/AUDUSD + USDCAD + 1/NZDUSD
- EUR (index) = EURUSD + (EURJPY/100) + EURCHF + EURGBP + EURAUD + EURCAD + EURNZD
- .........
... and so on

** Notice tha when the Currency is in second place we put the inverse and with JPY crosses we have to divide by 100


Here at FF we have a very good indicator that messures the "Recent Strength" of all crosses and it uses the logic that I explain before (thanks to "hanover"). It sholuld look to that...

Attached Image (click to enlarge)
Click to Enlarge Name: fig2.png Size: 61 KB


At every point if you add all the currencies (below and above 0) you must have (aprox.) ZERO. This is the logics behind Money Flow: when cash go into one currency is necessary that go out from other/others currencies.

So finally, this is why I ask that if "iCorrel" indi does what it is supposed to do.
  • #111
  • Jun 10, 2016 7:35am Jun 10, 2016 7:35am
Hi Everyone,
Kirkleaforex thank you so much for sharing this indicator. I had been using a MTF CC indicator for a long time but signals from a higher time frame were always a little late, this indicator while a little buggy (keep having to change TF up and back for it to show correctly) is just what I needed and I am looking forward to your version with alerts. In order to get alerts in the meantime I added a 12 period CCI (dotted black line and arrows) which alerts when it crosses the 0 line, it gives a lot of signals but always an alert before or on a currency line cross.
I had a nice trade on GJ at the London open this morning
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM5.png Size: 41 KB


Green pips to you all.
  • #112
  • Jun 10, 2016 7:45am Jun 10, 2016 7:45am
Quoting FX-NeverEnd
Actually I think we don't have to talk about a "Correlation Indicator" but a "Strength Indicator". As far as I know, Correlation is messured by Pearson-Spearman Test. iCorrel is such an Index indicator. An index (e.g. Russel, Down Jones, etc....) is the ponderate addition of all its stocks. In this case, iCorrel messures the Strengh of the US Index (because it is created only with all USD crosses.) So we have had something like that.... {image} The construction of the indi must be, for every Currency Index: - USD (index) = 1/EURUSD + (USDJPY/100)...
Hi, do you have this indy and would you mind sharing it?
(.)(.) think first ...
  • #113
  • Edited Aug 24, 2016 11:43am Jun 10, 2016 7:53am | Edited Aug 24, 2016 11:43am
indicator

{ copyrighted attachment deleted by staff }
  • #114
  • Jun 10, 2016 7:57am Jun 10, 2016 7:57am
Quoting wifiguy
Hi Everyone, Kirkleaforex thank you so much for sharing this indicator. I had been using a MTF CC indicator for a long time but signals from a higher time frame were always a little late, this indicator while a little buggy (keep having to change TF up and back for it to show correctly) is just what I needed and I am looking forward to your version with alerts. In order to get alerts in the meantime I added a 12 period CCI (dotted black line and arrows) which alerts when it crosses the 0 line, it gives a lot of signals but always an alert before...
Hello wifiguy and thanks for your positive comments, I am so glad you are having good results with this indicator, although to be fair I am only sharing my ideas of how this indicator can be used in a broader context; the indicator itself is freely available on mql5.com.

Regarding the bugginess, please refer to POST 99 (http://www.forexfactory.com/showthre...43#post89729439) for a modified version which fixes the auto refresh issue (or just download from the attachments section up top - file is called "correl8_mod").

As an update on the coding, I have spent much of today in consultation with the guy I have on board coding everything. We have sorted out all of the logic and I should start testing early next week. Will keep you all posted with the results of that asap. Cheers.
Trade to Live - Don't Live to Trade
  • #115
  • Jun 10, 2016 8:08am Jun 10, 2016 8:08am
Quoting FX-NeverEnd
Actually I think we don't have to talk about a "Correlation Indicator" but a "Strength Indicator". As far as I know, Correlation is messured by Pearson-Spearman Test. iCorrel is such an Index indicator. An index (e.g. Russel, Down Jones, etc....) is the ponderate addition of all its stocks. In this case, iCorrel messures the Strengh of the US Index (because it is created only with all USD crosses.) So we have had something like that.... {image} The construction of the indi must be, for every Currency Index: - USD (index) = 1/EURUSD + (USDJPY/100)...
You are quite right, it is a strength indicator...I refer to it as a correlation indicator due to its' name correl8, but I probably should start correcting that as it may be confusing some folk...but then I have to rename the thread! Aaaarrrggghhhh!

In terms of whether icorrel8 indi does what it is supposed to do, the short answer is "I don't know"...I just know that it picks some great moves; I have no idea of how it is coded and nor would I understand the maths if someone tried to explain it to me...I am a simple creature! Sorry but I need to be honest! lol

I refer you to a post by TooSlow http://www.forexfactory.com/showthre...05#post8972105 who refers to the actual coding involved...it appears this member has some confidence in the coding and how it functions as intended.

But I will leave all of that formula inspection to the smart ones among us; I just want to make some pips and then get back to making music in my studio!
Trade to Live - Don't Live to Trade
  • #116
  • Jun 10, 2016 8:49am Jun 10, 2016 8:49am
Quoting toddanderson
indicator {file}

DO NOT DISTRIBUTE THIS CODE BY ANY MEANS
tell people to come to XXXXXX for the latest indicator updates

The author asked you to not distribute the code.
Now he may not post updates because of you.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #117
  • Jun 10, 2016 8:51am Jun 10, 2016 8:51am
Quoting toddanderson
indicator {file}
Thanks Todd. I have compared this version to the version I initially posted and it s big improvement, and pretty much everything I have been wanting in terms of having an alert function added in, except for the painted arrow on the chart.

I am aware of where this indicator has come from and am aware that the person who has modified it is protective of it being shared. So I won't be sending the modified version to the guy I have coding for me out of respect.

Besides, I have some wonderful additions of my own that are quite exciting, so I am happy to keep along my own path and get this done. I look forward to sharing when everything is ready.
Trade to Live - Don't Live to Trade
  • #118
  • Jun 10, 2016 10:57am Jun 10, 2016 10:57am
Quoting kirkleaforex
{quote} Would you mind sharing the modified indicator with this thread? I am sure people would benefit from your generosity.
The indicator is done by my old friend Swingman. He always helps FF members with indicators required for the strategy.
http://www.forexfactory.com/showthre...45#post8962945
Practice makes a person perfect
  • #119
  • Jun 10, 2016 11:17am Jun 10, 2016 11:17am
Another option for currency index, you can change based on MA,RSI,CCI,Mom,Stoch
Attached File(s)
File Type: mq4 index-7.mq4   20 KB | 1,390 downloads

I hope somebody make it MTF version
  • #120
  • Jun 11, 2016 8:17am Jun 11, 2016 8:17am
Quoting kirkleaforex
{quote} Thanks Todd. I have compared this version to the version I initially posted and it s big improvement, and pretty much everything I have been wanting in terms of having an alert function added in, except for the painted arrow on the chart. I am aware of where this indicator has come from and am aware that the person who has modified it is protective of it being shared. So I won't be sending the modified version to the guy I have coding for me out of respect. Besides, I have some wonderful additions of my own that are quite exciting, so I...
The coder shares.
Shares the mq4 files, too.
That's the source code.
Only ask for you not to distribute.
One person failing to respect this could ruin it for everyone.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
1 trader viewing now