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Hi all,
I put this indicator together to be used for basket trading but it ended up being something more. It’s tricky to get the right results but this is how I was using it before:
http://penguintraders.com/forums/topic/currency-strength/page/4/#post-5464Focus, Patience, Determination & Order in chaos
Dear Saver0,
Thank you so much for sharing this indicator.
I cant wait to try “her” out Monday. I think she has great potential.Best,
Michael
I have a “stupid” MT4 question…I feel embarrassed asking it….but how do you overlay the chart over the indicator?
Best, Michael
Hi Edington,
If you overlay ma1 over it at indicator window, ma1 will behave like the price does.
Can I ask you a favour please, could you download this indi as rar or zip file here for me, my windows seven will have it as html file
cheers
hannele
No problem, here it is. I tried your method, but I was unable to get it to work.
I will tinker with it tomorrow.Edit. I got it work. Sometimes I get stuck on such simple things. Thanks Hannele
Edit2. It seems it has to be an overlay. The problem is that with the ma, once you scroll left and right, the ma to indicator ratio re-positions.
Best, Michael E
thank you Michael
You are right, ma will readjust when you scroll. I’ll look if I find another indi that actually puts chart into indicator window. I’ll post here if I’ll find it.
cheers
hannele
Hey Hannele,
I have taken a look but was unable to find one that works. The closest is this one, but it wont apply to the indi chart and displays a grid by default. If no alternative is found, can anyone modify it? I have tried already, but only with epic fail results.
Best,
Michael
Sorry SaverO, I forgot my manners. Thank you for the indi and sharing
Michael I am still looking, don’t fret, I’ll be back in office this afternoon and hopefully find it then. Meanwhile you can try to put HA in sub window and overlay indy over that.
cheers
hannele
SaverO,
Thanks for the indicator. I was looking at it for the 5 minute time frame and it repaints the last 6 or so bars. Is it necessary for it to do that? I don’t see a need for it. Once it calculates the value of the longs or shorts for a particular bar it could keep it at that value.
SaverO, Thanks for the indicator. I was looking at it for the 5 minute time frame and it repaints the last 6 or so bars. Is it necessary for it to do that? I don’t see a need for it. Once it calculates the value of the longs or shorts for a particular bar it could keep it at that value.
It shouldn’t repaint. It looks at 28 currency pairs. So make sure you pretty much have all the currency pairs in the Market Watch box.
For example, it you say EUR LONG and USD SHORT. It will long all EURXXX pairs and short all USDXXX pairs and long all XXXUSD pairs. So when you do this, you kind of get EURUSD looking chart but with dissimilarities.
Focus, Patience, Determination & Order in chaos
Thank you for the indi saver0!
Anyone with techniques on how to trade with it?
What's it all about? It's all about money.
As requested by @Edington here is the ROC version of this indicator and you can specify the base currency to compare it for.
Green pips to all!
Focus, Patience, Determination & Order in chaos
Dear fellow traders,
I would like to share an observation. Not sure if I should post it here or in the CMP thread. Anyway, I have noticed that when you compare CMP with CBV, there are undeniable similarities. CBV might give a faster signal, and I can use CMP to confirm that the scale is correct. Interesting stuff.
P.S. This is a comparison on GBPJPY, 1 min chart.
Best,
Michael
Nice work Edington, why don’t you add the accompanying price action figure on top? Maybe also some Gadi_OBV or Better Volume indicators so that we can make a better judgement..
Great motivation my friend…
PS: Saver thanks for the ROC. Will look at it ASAP.
Nothing has ever motivated me more than this...
Hi all,
Saver0, thank you for sharing this indicator, it looks really great. Would you mind posting the settings you have used for the pictures you have shown in charts on other threads? I don’t know how to get an MA/Price overlaid (it doesn’t do anything when I drag one to it, as far as overlaying the price). Also, my charts don’t look the same as yours, I am putting Long on EUR, and Short, on the other currencies, and it seems the lines are always close to each other and never separate much. Thanks again for sharing!
Hello all,
Despite having some issues with relations between lines, this indicator has become the most important tool in my arsenal. Its just a question of understanding what “she” is saying.
Thank you again Saver0. I have combined it with PVSRA and I am having a blast…on my demo at least. This is one week result. While I trade bigger TFs (15-1h), I also scalp a few 1 pip trades to pass the time. I use no stop loss, if i get in a trade that does not work out, i will hedge a good % of my total positions when DD starts to pass my comfort zone, the re-evaluate the situation. I also keep an eye out for news events. The idea was to hit 1k profit per day and then go do something else. I achieved my goals within 2-3 hours of trading, except Friday.(took me 6 as i got stuck in a trade). I want to see if I can do it consistently for a month. The hardest thing for me is to learn when to sit on my hands and not take the trade.
Edit-the report includes my trading session from last Friday as well, so 6 sessions total.
Best,
Michael Edington
Hey Ed.
These are great numbers.
Are we reaching somewhere finally?
Best regards…
Nothing has ever motivated me more than this...
I cant wait to try “her” out Monday. I think she has great potential.
I will tinker with it tomorrow.
Cant wait to test drive some ideas for “her” on Monday. Green pips all around!
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