Currency Strength/Power/Value Indicator

[gg53]

Yeah… Currency-Strength, when done properly, is better than Gold .

 

G.

[will80]

Thanks guys (esp. arthur) yes I have tweaked it to give those results. I find it’s important to show the corresponding strength/weakness of the other line as it filters our fake signals when one of them visits the OB/OS zone. The perfect entry is when they are mirrored and both OB/OS.

[iCONE]

Arthur wrote:

good day, Blackstack Apology. I’m using the Mod now. (Simplex) . The grey line would be indicated in the screenshot below. Regards

 

Hi Arthur,

 

Where can i find this simplex mod please?

Thank you for all the good stuff here,

Best regards

[Bartleby]

iCONE wrote:

Arthur wrote:

good day, Blackstack Apology. I’m using the Mod now. (Simplex) . The grey line would be indicated in the screenshot below. Regards

Hi Arthur, Where can i find this simplex mod please? Thank you for all the good stuff here, Best regards

And thanks to Arthur for sharing his findings..it seems you really got a talent for pattern recognition 

 

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"A dream you dream alone is only a dream. A dream you dream together is a reality." (John Lennon)

[simplex]

Hey Guys!

I have been asked by PM to share that version Bartleby thankfully posted now. As far as I can remember my only coding contribution in that case was to implement an enumeration to make parameter entry easier. So nothing that really matters very much!

Yet I did not succeed in my attempt to produce that kind of output Arthur posted as a screenshot with the indicator code presented here. So I’m a bit puzzled now, but I’m afraid I don’t have much more to share here!

Sorry, guys!

simplex

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)

[smallcat]

Arthur wrote:

Should look like this.. OB OS levels become interesting..

Great Arthur. One question: Do you only change the setting without changing the code ?

Thanks in advance

[BalrogTrader]

Saver0 wrote:

BalrogTrader wrote:

What do you think of the approach? Maybe we can add color change to the new delta line (slowest) or we may look for the points where delta_fastest crosses delta_slowest. Both options seemed promising to me (but of course I have to develop my mq4 coding skills quite a lot for this).

Not a bad idea at all! The two currency lines aren’t perfect mirrors so looking at the times went delta_fastest cross the delta_slowest and/or when slow_of_first_currency cross fast_of_first_currency and when the slow_of_first_currency_cross fast_of_first_currency_cross in the opposite direction can also give good signals at least to alert us to see if we should take any action Perhaps someone can make this change and see if it will produce good results. Maybe an arrow when these happen. I wish I had more time to work on all the ideas. Pretty busy these days

A small contribution from me. It shows the difference between 2 currency strengths.

It requires the indicator: “Currency Multi Power.ex4” in …/Indicators folder exactly as written.

I suggest to use it on top of Gadi_OBV as shown in the example figure.

Best regards…

• This reply was modified 11 years, 2 months ago by BalrogTrader.

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Nothing has ever motivated me more than this...

[Edington]

Indeed.  Analysis of strength in currencies seems to give the best advantage a trader can have…next to a wiretap in Mario Draghi’s Office or Swiss Central Bank…

Best, Michael

[smallcat]

BalrogTrader wrote:

Saver0 wrote:

BalrogTrader wrote:

What do you think of the approach? Maybe we can add color change to the new delta line (slowest) or we may look for the points where delta_fastest crosses delta_slowest. Both options seemed promising to me (but of course I have to develop my mq4 coding skills quite a lot for this).

Not a bad idea at all! The two currency lines aren’t perfect mirrors so looking at the times went delta_fastest cross the delta_slowest and/or when slow_of_first_currency cross fast_of_first_currency and when the slow_of_first_currency_cross fast_of_first_currency_cross in the opposite direction can also give good signals at least to alert us to see if we should take any action Perhaps someone can make this change and see if it will produce good results. Maybe an arrow when these happen. I wish I had more time to work on all the ideas. Pretty busy these days

A small contribution from me. It shows the difference between 2 currency strengths. It requires the indicator: “Currency Multi Power.ex4″ in …/Indicators folder exactly as written. I suggest to use it on top of Gadi_OBV as shown in the example figure. Best regards…

Great result   , thanks a lot mate ….

• This reply was modified 11 years, 2 months ago by smallcat.

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[fxrambo]

i still cant download the indicators in this forum that are in other format than rar please put currency strength by simplex shared in post#6672 on rar format so that I can download it

[smallcat]

fxrambo wrote:

i still cant download the indicators in this forum that are in other format than rar please put currency strength by simplex shared in post#6672 on rar format so that I can download it

I just have 7zip compress utility (it is free), and can not create rar file. So, may be in zip / 7z format you can download it …

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[Lowphat]

fxrambo wrote:

i still cant download the indicators in this forum that are in other format than rar please put currency strength by simplex shared in post#6672 on rar format so that I can download it

try right clicking on the link and finding an option like “save as”  or “save link as”

“I believe the very best money is made at the market turns. Everyone says you get killed trying to pick tops and bottoms and you make all
your money by playing the trend in the middle. Well for twelve years I have been missing the meat in the middle but I have made a lot of
money at tops and bottoms.”
– Paul Tudor Jones

[Jhlewis10]

Drinking bourbon, looking at charts.  This is gold.  false signals in low volume times, or when the two currencies are running together not apart.

Catch them both spiking OB/OS and get ready for 100 pip ride.

[scissors]

Hi,

I presume what Arthur said about tweaking option of <24 is respective to what TF you are looking at when scalping. I did the following:

1) Looking at TF15 only

2) Off all colors except first one

3) Set Level 2 and 8

4) Set TF15 option to be 20 fastest bars

5) the rest remain unchange

Arthur correct me if I am wrong, thanks.

Scissors

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[Arthur]

Hello, gents

Not pretending that I found something unique. Just testing possible setups and looking for repeating “patterns” in the indicator’s behaviour that may or may not yield some form of edge. There are 2 different setups I’m testing and following. You can use either of the posted Currency Multi power indicators. There indeed are some “repositioning” taking place as mentioned in one of the posts – but they sometimes “stick” and those are the ones that can be traded.So I cannot go into more detail until I understand the latter.

More screen time is needed on my side to see how these can be identified with high probability. I’m sure there is a way. The first setup I look at – I will explain. The indicator can be set up as follows:

Under the input tab:

showBoth – true

oneLine – false

smoothing – 10

maxBars – 2000

Fastest Bars – 24

Fast Bars – 24

Slow Bars -24

Slowest Bars – 24

Pretty much the standard input.

Under the “colors” tab:

The colors will be marked from 0 to 7. Input under colors 0,1,2 all “none”. Color 3 we make GREY. Colors 4 and 5 are “none” again. Color 6 we make BLUE and color 7 we make RED.

That is it. Nothing special. I attach a few charts for the past 2 weeks on EU showing what I have been looking at. And traded some. They all worked in the end.But this can fail tomorrow – so I am still investigating and observing. Draw down could be a big issue – as I have seen a few 100 pips against before returning on 1hr. So better to test on 15min. Take pips and run. On the demo i’m testing on, draw down sits at 11.6% and profit at 36% now. Win ratio just above 70% this after 249 entries. The win ratio is at 70% because of scaling in, lot sizes used for different entries and grabbing profits on some positions before they mature.This is therefor a clear indication that I do not have trust in the setup and are only testing an observation that may be non-sustainable.

But you asked…   Work continues…

 

 

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[Edington]

Dear Arthur,

thank you very much for sharing your work and your find.  Also, a big thanks to Saver0 for writing and sharing, Simplex for modifying it. 

I have been experimenting with the OB/OS “stochastic” method on Friday. I used a rather crude approach, set targets according to Fibonacci pivots. One issue is, as some have noted – some re-positioning. Even so, most of the time it seems to give a good signal. One rule that I apply to counter fakes is, that once the line crosses the value of 5, i set my SL to BE.(or around that)

One note about my test, i used .01 lots…and i got greedy towards the end of the day an opened many trades with higher lots in the afternoon….so they carry over. Not something i would normally do. I will continue testing this week and try to find better ways to filter.

Best, Michael

• This reply was modified 11 years, 2 months ago by Edington.
• This reply was modified 11 years, 2 months ago by Edington.
• This reply was modified 11 years, 2 months ago by Edington. Reason: grammar
• This reply was modified 11 years, 2 months ago by Edington.

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[smallcat]

Thanks  Saver0, Simplex, Arthur & Edington.  This can be used as entry point

It seems EU will go down on next monday. My target is around  1.1411 . Next target ( if  she still goes down )  are  : 1.1393 and  1.1372 ….

Edit; After making a small down today, i am looking for a big up trend to around 1.1677

• This reply was modified 11 years, 2 months ago by smallcat.

[gg53]

All the above, with reasoning and indies (a bit older ones) is in the (late…) “Killing Zone” thread @FF.

 

G.

[smallcat]

gg53 wrote:

All the above, with reasoning and indies (a bit older ones) is in the (late…) “Killing Zone” thread @FF. G.

Thanks a lot G

[Arthur]

Hi,

A little test – scalping. This is what I’m looking at currently. Once settled above or below 8 and/or 2 level – look for lowest/highest point and make that the target. Will see.

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[gg53]

Currency-Strength is a very good indicator, but not by itself only.

You need to combine signals from BOTH Currency-Strength AND some kind of Volume indicator.

Without Volume indication – the movement is erratic, ranging, or very short and misleading. Volume is the thing that drive price.

 

G.

[Arthur]

Hello – point taken GG53. Will look into it.

Thank you.

Swissy played nice. Straight back to cover the bar.CAD still out. I staggered entries as we went higher and closed the weaker entries on the initial decline after the first false break north. Leaving the highest entries in place.Will see how it turns out. Avg entry now @ 1.20523 target 1.2036 ( provision made for spread)

Edit: Price behaviour seems quite abnormal on CAD at the moment. Something’s up.. This is gonna be fun.

 

• This reply was modified 11 years, 2 months ago by Arthur.

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[gg53]

Arthur wrote:

Hello – point taken GG53. Will look into it. Thank you. Swissy played nice. Straight back to cover the bar.CAD still out. I staggered entries as we went higher and closed the weaker entries on the initial decline after the first false break north. Leaving the highest entries in place.Will see how it turns out. Avg entry now @ 1.20523 target 1.2036 ( provision made for spread) Edit: Price behaviour seems quite abnormal on CAD at the moment. Something’s up.. This is gonna be fun.

Not abnormal – behaving as expected… Definite Short…

 

G.

 

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[gg53]

…and here comes the Long…

 

G.

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[gg53]

… and here is the LONG in M15…

 

G.

 

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[Author]

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