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Hi guys, I updated the original post with a zip file containing the MQL file.
Thanks for posting! To give my two cents back, I modified your parameter input by adding an enumeration for the timeframes. Remember my 1st post in this thread? I hadn’t realized that 4 of your variables were timeframes. This won’t happen in my attached version. Especially EAs and indicators with many parameters will become much more usable by enumerations.
Have fun!
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Regarding CCI, RSI and the such – I introduced the ForexGT_Activity indicator above them in previous post – it doesn’t have a “double meaning” of OverBought/OverSold…. As to currency Strength I use the ForexGT_Spaghetti indicator (Top), already with relative market share factor implemented. This is, with full zoom and no chart, my “good morning” to the Forex market. Here I can see what to trade and what not to trade. The bottom indie is same, just showing the current pair on the graph, with an additional white line to show the diffrence between them – used for easy trade direction and reversal points. G.
Are those commercial products? Couldn’t find them anywhere in this forum or over at FF. EDIT: if my questions for technical detail of the implementation touch kind of corporate secrets just tell me and I’ll stop asking. Never mind!
Those indies are my creation, not commercial and not for sale right now. I’m more than willing to share the technique, method, filtering. Ask away…
As to CPU overload and calculation delays:
1. Minor and exotic pairs doesn’t update price at the same rate as major pairs, hence the delay and calculation overload.
2. EURUSD & GBPUSD division/multiplication will give you accurate EURGBP rate, so why calculate and compare it ?!?!
3. for the same reason as above: Why compare 28 currency pairs – when you can do with only 8?
G.
Currency-Multi-Power is VERY good.
I can only suggest two improvements:
1. Add to the indie label the name of the currency (that will show on mouse over)
2. Write a scanner that will run on all pairs and suggest Long/Short when all RED crosses all Green, in intervals of 5 Min.
G.
This won’t happen in my attached version.
Thank you Simplex. Most times I just hack something up real quick to just test out an idea that I forget to make it more user friendly since its just for me. I will try to be more user contious next time and thank you for making this edit and posting it
I will add it to the zip and attach it to the main post.1. Add to the indie label the name of the currency (that will show on mouse over) 2. Write a scanner that will run on all pairs and suggest Long/Short when all RED crosses all Green, in intervals of 5 Min.
Great idea! I will try to get to this when I work on the indicator again. If anybody wants to dive in and give it a shot to make these changes, feel free and I will update the main version.
Thank you!
Focus, Patience, Determination & Order in chaos
Regarding CCI, RSI and the such – I introduced the ForexGT_Activity indicator above them in previous post – it doesn’t have a “double meaning” of OverBought/OverSold…. As to currency Strength I use the ForexGT_Spaghetti indicator (Top), already with relative market share factor implemented. This is, with full zoom and no chart, my “good morning” to the Forex market. Here I can see what to trade and what not to trade. The bottom indie is same, just showing the current pair on the graph, with an additional white line to show the diffrence between them – used for easy trade direction and reversal points. G.
I think i missed it (can not find information about it). Any body know about this “ForexGT_Activity” indicator ? Thanks.
Regarding CCI, RSI and the such – I introduced the ForexGT_Activity indicator above them in previous post – it doesn’t have a “double meaning” of OverBought/OverSold…. As to currency Strength I use the ForexGT_Spaghetti indicator (Top), already with relative market share factor implemented. This is, with full zoom and no chart, my “good morning” to the Forex market. Here I can see what to trade and what not to trade. The bottom indie is same, just showing the current pair on the graph, with an additional white line to show the diffrence between them – used for easy trade direction and reversal points. G.
I think i missed it (can not find information about it). Any body know about this “ForexGT_Activity” indicator ? Thanks.
I can not find it either…. maybe it is yet to come …
Currency-Multi-Power Doesn’t update after some time – it requires constant refreshing (MT4-745).
G.
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Currency-Multi-Power Doesn’t update after some time – it requires constant refreshing (MT4-745). G.
Yes, you are absolutely right. Thanks mate.
Currency-Multi-Power Doesn’t update after some time – it requires constant refreshing (MT4-745).
I’m testing it out now. Will try to figure out the problem and post an update. Thanks for letting me know!
Focus, Patience, Determination & Order in chaos
Currency-Multi-Power Doesn’t update after some time – it requires constant refreshing (MT4-745).
Yes, you are absolutely right. Thanks mate.
Please have a look now guys (download it again from the first post). It was updating fine for me. Please make sure you have all the 28 currency pairs in the Market Watch.
Also, here is an example of how to trade this in M1. M1 seems to show trades really well.
Happy Holidays!
Focus, Patience, Determination & Order in chaos
Please have a look now guys (download it again from the first post). It was updating fine for me. Please make sure you have all the 28 currency pairs in the Market Watch. Also, here is an example of how to trade this in M1. M1 seems to show trades really well. Happy Holidays!
Is it the same as : http://penguintraders.com/forums/topic/currency-strengthpowervalue-indicator/page/2/#post-2235 , isn’t it ?
Thank you very much for your hard work my friend
I’m not sure, it looks like gg may have made some changes to the version he has. The indicator name on that screenshot has _mod at the end. Please download the latest version from the very first post: http://penguintraders.com/forums/topic/currency-strengthpowervalue-indicator/#post-1563
Focus, Patience, Determination & Order in chaos
I’m not sure, it looks like gg may have made some changes to the version he has. The indicator name on that screenshot has _mod at the end. Please download the latest version from the very first post: http://penguintraders.com/forums/topic/currency-strengthpowervalue-indicator/#post-1563
OK, thanks a lot my friend. Wishing you and your family good health, happiness and green pips. Merry Christmas and Happy New Year … our Santa Penguin
I’m not sure, it looks like gg may have made some changes to the version he has. The indicator name on that screenshot has _mod at the end. Please download the latest version from the very first post: http://penguintraders.com/forums/topic/currency-strengthpowervalue-indicator/#post-1563
I didn’t made any changes.
The “_mod” was added after downloading v2 with enumeration.
G.
The “_mod” was added after downloading v2 with enumeration.
Oh sorry, it must be after the change that simplex made
Is it working well now?
Focus, Patience, Determination & Order in chaos
Here is a trade that I discussed with gg today. It’s a short on EURAUD in my opinion.
It’s important to understand how to read this indicator properly. Take some time to understand it. The slow and slowest lines needs to be properly set. The way I would set the settings is like the following, fastest = current time frame, fast = next time frame, slow = the next, slowest = next highest.
So if the current timeframe is H1, then fastest = H1, fast = H4, slow = Daily, slowest = Weekly and I have set the YYY_bars to just 24 for all of them.When this is the case, pay attention to the slowest two lines, this is your long term trend. When its above 0 that means its up trend, and below 0 it means down trend. If you look at the following example, what we see is that the slowest long term trend has approached zero and its at a possible turning point. We see a downtrend formed. Look at the lower lows of the fast and slow value lines, its breaking lower while price is ranging flat. I have no idea if this will play out the way I’m thinking but I am short biased based on this and candle patterns. Taking a trade now might be a bit of a gamble. What’s safe is to wait for the trend to be established (slowest clearly above or below 0) and then trade the pull backs towards the higher time frame trend. Pretty simple, yea?
Even Though I made this awesome indicator, I haven’t used it much at all. I need to test it out for a few months myself
Focus, Patience, Determination & Order in chaos
Accurate currency strength should include the market share of each currency as a factor. NZD moving up doesn’t have the same effect on other currencies as USD moving up the same distance. G.
It could be usefull to include the official interest rate for every currency (country) to consider the carry-trade effect
Anyone else using this indicator? I really like it but I have not used it a lot as I find it hard to read (very busy). More practice I guess.
Would be interested if anyone else has been using it and would like to share there experiences with it..?
Thanks.
What's it all about? It's all about money.
I really like it but I have not used it a lot as I find it hard to read (very busy). … Would be interested if anyone else has been using it
I didn’t for the very same reason: much too busy for my taste. I prefer indicators that are providing signals in a more selective manner.
A good trader is a realist who wants to grab a chunk from the body of a trend, leaving top- and bottom-fishing to people on an ego trip. (Dr. Alexander Elder)
Would be interested if anyone else has been using it and would like to share there experiences with it..?
I just started using it heavily in terms of determining the trend. The long term trend lines (slowest and slow) don’t change often and they tell us what the long term trend is. Then the short term trend lines (fast and fastest) tells me of the current movement. I’m looking for entries when the short term trend goes against the long term trend and forms short term trend towards the long term trend again.
For example, if the long term trend is long (meaning slowest lines are above 0), then I wait for the short term trend to be away from the long term trend a good amount (retracement) and then form a higher low, signaling me that the price is ready to go back up.
Yes, this can be a complicated indicator to read. If it’s too many lines, simply set the color of the lines that you don’t need/want to None and you won’t see them. So you can really just have the Slowest and the Fastest (these are the ones I pay attention for). You can also set different colors as well. This indicator is many indicators in one, up to you what you want to see and how you want to use it
I will post later some templates when I have something that I really like with some examples to help you guys out.
Focus, Patience, Determination & Order in chaos
Hi saver0,
first of all, thanks for your nice indicator.
I have placed two orders today and want to show you my entries. Let me know what you think.
I saw a similar setup on GBPNZD:
I have placed two orders today and want to show you my entries. Let me know what you think.
Perfect trades! Very nice work! You might have been able to keep the shorts until either the Lime fast line (bulls) indicate that they are strengthening or until the Red fast line (bears) cross over or touch the Slow bull line. Really nice job either way!
Please keep posting examples. I want to see how well this works as I am pretty busy creating a few more indicators to help us with trading and don’t have much time for live trading
Focus, Patience, Determination & Order in chaos
I will add it to the zip and attach it to the main post.
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