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Simple Correlation Indicator System

Hello all,

I have been reading through the thread, and I have subscribed, very positive, forward thinking and genuine. Good luck to all on your journey's, I will be contributing where I can. I have downloaded the book advised and will be reading up on it ASAP.

All the best,

Shaun
Quoting mackem73
Hello all, I have been reading through the thread, and I have subscribed, very positive, forward thinking and genuine. Good luck to all on your journey's, I will be contributing where I can. I have downloaded the book advised and will be reading up on it ASAP. All the best, Shaun
Welcome Shaun! Great to have you join us.
Quoting bhanugopal
{quote} Thanks xfactor for your modified indicator. I just wanted to know if there is way to increase the look back period to any number of days we may want. Thanks again.
Greetings bhanugopal,
If you want to change the number of bars and have the option to change the suffix with the MTF version please download this version.

Download:
Attached File
File Type: mq4 correl8_MTF_SUFFIX_NumOfBars.mq4   17 KB | 673 downloads


Hope this helps.
Quoting kirkleaforex
OK I finally have the finished product and will be testing madly whenever I have spare time and an internet connection! Early days but I am dead impressed with how this is picking up signals. As a teaser, check out the screenshot of XAUUSD a short time ago. This picked up around 45 pips in 30 mins. Hope to share this all with you within the coming week. {image}

Greetings Kirk,

Itching to get my hands on your 'finished product'. This is the closest we could get to a holy grail. I have been trying out the existing indicator (correl 8) and the results are amazing.
Quoting xfactornos
{quote} Greetings bhanugopal, If you want to change the number of bars and have the option to change the suffix with the MTF version please download this version. Download: {file} Hope this helps.
That was very thoughtful of you. I'm doing some research on some tight range markets.

Instead, this happens:

Attached Image (click to enlarge)
Click to Enlarge Name: this happens.png Size: 35 KB


Below are my settings.

Attached Image


And here is my terminal.

Attached Image (click to enlarge)
Click to Enlarge Name: not sure if this helping 1.png Size: 28 KB


Any solutions?
Quoting xfactornos
{quote} Greetings bhanugopal, If you want to change the number of bars and have the option to change the suffix with the MTF version please download this version. Download: {file} Hope this helps.
Thanks xfactor. Unfortunately it doesn't work at all. No indicator at all in the indicator window. Just like Redwed's post above.
Quoting redwed
{quote} That was very thoughtful of you. I'm doing some research on some tight range markets. Instead, this happens: {image} Below are my settings. {image} And here is my terminal. {image} Any solutions?
Sorry for jumping the gun. It works for a max setting of 4000 bars. I tried this on a 30 minute time frame chart. I really think this itself is very good. Thanks very much.
Quoting rajandaas
{quote} Greetings Kirk, Itching to get my hands on your 'finished product'. This is the closest we could get to a holy grail. I have been trying out the existing indicator (correl 8) and the results are amazing.
Hello and welcome!

I'm unsure about the "holy grail" reference (lol) but if this is used correctly there's certainly nothing preventing you from making a decent return.

Like anything in this game, we can't afford to be always "in the market", taking every signal that comes along. Waiting patiently for a strong signal does pay off big time, so please use this responsibly as just one part of an overall strategy, where trade management and psychology form the bulk of your system.

My own strategy is slowly being written and should be ready within the coming week. I prefer to do it this way so people have an immediate reference point on how this indicator has been redesigned and how it has worked for me, and not fly blindly into trading it and making mistakes like i did.
  • Post #349
  • Quote
  • Edited at 12:15pm Aug 28, 2016 11:57am | Edited at 12:15pm
Quoting bhanugopal
{quote} Sorry for jumping the gun. It works for a max setting of 4000 bars. I tried this on a 30 minute time frame chart. I really think this itself is very good. Thanks very much.
Tried it with 1500 on m15.

Attached Image (click to enlarge)
Click to Enlarge Name: still no lucj.png Size: 86 KB


Still got zero divide problem.

Attached Image (click to enlarge)
Click to Enlarge Name: same error.png Size: 7 KB


Maybe it's not for me.

Never mind, solved it. It is the 'suffix'.
Quoting redwed
{quote} Tried it with 1500 on m15. {image} Still got zero divide problem. {image} Maybe it's not for me.
I think your problem is that you have suffix setting at "i". Try leaving it blank since your chart doesn't show any suffix.
Quoting rajandaas
{quote} Greetings Kirk, Itching to get my hands on your 'finished product'. This is the closest we could get to a holy grail. I have been trying out the existing indicator (correl 8) and the results are amazing.
If you learn any indicator deep enough, you can get insights how to use them for your success.

ahhamidz.

bernhard.

mine.

and many ways to do it. The indicator is just helpers. One of great coder said:

Quoting FerruFx
{quote} The problem isn't the indicators themself ... but how we interpret them. They are plenty of successfull traders using naked charts ... there are also plenty of successfull traders using indicators. Just trade the way you are comfortable with ...
And mladen's advice is truly a winner on this topic.

Attached Image (click to enlarge)
Click to Enlarge Name: advice from mladen.png Size: 42 KB


Good luck finding yours!
The problem is: XAUUSD......many brokers haven't this symbol.....u have to change xauusd with symbol for GOLD.....in my case is "GOLD"
Quoting kirkleaforex
{quote} Hello and welcome! I'm unsure about the "holy grail" reference (lol) but if this is used correctly there's certainly nothing preventing you from making a decent return. Like anything in this game, we can't afford to be always "in the market", taking every signal that comes along. Waiting patiently for a strong signal does pay off big time, so please use this responsibly as just one part of an overall strategy, where trade management and psychology form the bulk of your system. My own strategy is slowly being written and should be ready within...
I cant wait to see the updated indicator and the strategy, its very nice of you to share both with us. Thanks in advance!
  • Post #354
  • Quote
  • Edited Aug 29, 2016 11:36am Aug 28, 2016 10:19pm | Edited Aug 29, 2016 11:36am
hi kirkleaforex, did you tried CCFp instead of correl8 for currency pairs?
Attached File
File Type: mq4 CCFp 3.3.mq4   73 KB | 472 downloads
Quoting mambomango
hi kirkleaforex, did you tried CCFp instead of correl8 for currency pairs?
Hi there...yes i have tried every CSM and Correlation indi i could get my hands on. For whatever reason, i decided that the Correl8 is the one I would spend my time and effort getting to know. Very glad i did now! Hope it helps you as much as it has helped me.

Please consider subscribing to the thread and you won't miss important updates to my trading strategy and a totally reworked Correl8 indicator which i have planned to release this weekend.
Quoting Darryl
I'm a very simple trader, don't use a stop loss. Don't want to get stopped out. Just patiently wait for the price to move down near my target. I hope the chart I've posted helps. I'm not very good at teaching except for someone sitting next to me infront of the monitor. {image}
Hello Darryl!
Do you trade with arows? Thank you
Quoting kirkleaforex
{quote} Hello and welcome! I'm unsure about the "holy grail" reference (lol) but if this is used correctly there's certainly nothing preventing you from making a decent return. Like anything in this game, we can't afford to be always "in the market", taking every signal that comes along. Waiting patiently for a strong signal does pay off big time, so please use this responsibly as just one part of an overall strategy, where trade management and psychology form the bulk of your system. My own strategy is slowly being written and should be ready within...

Hi Kirk,

I don,t use the correl 8 as a stand-alone indicator. I rely on candlestick patterns, the 9 ema, PSAR
Quoting Darryl
I'm a very simple trader, don't use a stop loss. Don't want to get stopped out. Just patiently wait for the price to move down near my target. I hope the chart I've posted helps. I'm not very good at teaching except for someone sitting next to me infront of the monitor. {image}
Hey Darryl haven't heard from you in quite a while. Are you still trading the Correl8? That looked like a great system you posted all those weeks ago! Hope things are on the up and up for you.
Quoting rajandaas
{quote} Hi Kirk, I don,t use the correl 8 as a stand-alone indicator. I rely on candlestick patterns, the 9 ema, PSAR
That's wise! Nothing works in isolation.

Just like we humans can't exist in isolation, an indicator needs good support strategy around it to assist in clarifying the clear trading opportunities from the mess.

We welcome all trading methods here, where the Correl8 is one integral part of something bigger. Feel free to post a scteenshot of your setup for the benefit of others.

Green pips to all.
Quoting kirkleaforex
{quote} Hello and welcome! I'm unsure about the "holy grail" reference (lol) but if this is used correctly there's certainly nothing preventing you from making a decent return. Like anything in this game, we can't afford to be always "in the market", taking every signal that comes along. Waiting patiently for a strong signal does pay off big time, so please use this responsibly as just one part of an overall strategy, where trade management and psychology form the bulk of your system. My own strategy is slowly being written and should be ready within...

Hi Kirk,

I don't use the correl 8 as a stand-alone indicator. I rely on candlestick patterns, the 9 ema, PSAR and Ferru FX's currency strength meter to pick my trades. The correl 8 and QQE are superb complements and give me great confidence in pulling the trigger. I trade the 15M time-frame and set my profit target at 10 pips only.

I thank you for your magnanimity in sharing your knowledge.

God bless you.
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