Basically, you are describing Peak & Troughs, the ClearMethod, which is just the Price Action.
After that you’ll come to a conclusion that you need some more “assurance” or “support” from other methods, like Volume, or market “sentiment”…
Good luck, and many green pips on your simpler way…

G.

This thread is about building an EA, based on Currency-Strength, Price-Action patterns, and Volume behaviour.

That’s the way I trade, for years, on a daily basis.

The Community EA should make this task available to everyone, and should make that task as simple as possible.

G.

I’ll consider changing the thread name to:

“Watch-out: misleading title !!”

G.

simplex,

Can you please add alert on the first time that a currency becomes the strongest (CIX_v_2_2_post.mq4, or later version)?

Thanks.

G.

simplex,

Can you please add alert on the first time that a currency becomes the strongest (CIX_v_2_2_post)?

Thanks.

G.

I’ll trade it live in the coming week to decide, and post my suggestion.

G.

Validity of the CS model can be verified by comparing the USDx indicator (with market share weight) against ForexGT_Spaghetti.

When the USDx (Green) gets stronger (dotted Yellow above Red) the USD currency become strong on the ForexGT_Spaghetti (above “0”).

When the USDx (Green) gets weaker (dotted Yellow below Red) the USD currency become w…[Read more]

My car have Automatic gear shifting…

Strangely enough, same params on both indicators looks quite the same on M30, but quite different on H4, as seen in above screenshot.

It’s not a question of adjusting gear shift, but what parameters setting correctly reflect the market.

If we decide to go with this logic:

LONG with currency the first…[Read more]

My car have Automatic gear shifting…

Strangely enough, same params on both indicators looks quite the same on M30, but quite different on H4, as seen in above screenshot.

It’s not a question of adjusting gear shift, but what parameters setting correctly reflect the market.

If we decide to go with this logic:

LONG with currency the first…[Read more]

We can currently agree on few key elements of the EA’s Logic:

Trend:

ClearMethod: simplex latest version with current and 1 or 2 higher TF’s, Trend direction according to HTF, entries on areas of current TF in opposite to Trend direction.

TVI (or TickVolume): (Optional) Trend direction defined by above/below zero, entries areas are in opposite…[Read more]

We can currently agree on few key elements of the EA’s Logic:

Trend:

ClearMethod: simplex latest version with current and 1 or 2 higher TF’s, Trend direction according to HTF, entries on areas of current TF in opposite to Trend direction.

TVI (or TickVolume): (Optional) Trend direction defined by above/below zero, entries areas are in opposite…[Read more]

We can currently agree on few key elements of the EA’s Logic:

Trend:

ClearMethod: simplex latest version with current and 1 or 2 higher TF’s, Trend direction according to HTF, entries on areas of current TF in opposite to Trend direction.

TVI (or TickVolume): (Optional) Trend direction defined by above/below zero, entries areas are in opposite…[Read more]

How to EA Logic:
Now, after we have our SL, TP (?), Lots etc. and trading pre-conditions, we can implement the EA’s Logic itself.
This will be done in much the same way – by using FUNCTION calls (CS=CurrencyStrength, CM=ClearMethod, VZO=VolumeZoneOscillator, mySentimet=UserParam preference or Neutral):
      //— LONG position (BUY) poss…[Read more]

How to EA Logic:
Now, after we have our SL, TP (?), Lots etc. and trading pre-conditions, we can implement the EA’s Logic itself.
This will be done in much the same way – by using FUNCTION calls (CS=CurrencyStrength, CM=ClearMethod, VZO=VolumeZoneOscillator, mySentimet=UserParam preference or Neutral):
      //— LONG position (BUY) poss…[Read more]

How to EA Logic:
Now, after we have our SL, TP (?), Lots etc. and trading pre-conditions, we can implement the EA’s Logic itself.
This will be done in much the same way – by using FUNCTION calls (CS=CurrencyStrength, CM=ClearMethod, VZO=VolumeZoneOscillator, mySentimet=UserParam preference or Neutral):
      //— LONG position (BUY) poss…[Read more]

How to EA Logic:
Now, after we have our SL, TP (?), Lots etc. and trading pre-conditions, we can implement the EA’s Logic itself.
This will be done in much the same way – by using FUNCTION calls (CS=CurrencyStrength, CM=ClearMethod, VZO=VolumeZoneOscillator, mySentimet=UserParam preference or Neutral):
      //— LONG position (BUY) poss…[Read more]

simplex,

Changing TF’s or currency pairs on your ClearMethod MTF version, causes the MTF to disappear, manual refreshing returns the indicator to correct state.

G.

simplex,

Changing TF’s or currency pairs on your ClearMethod MTF version, causes the MTF to disappear.

G.

ClearMethod Peaks & Troughs can be further enhanced by using ADX (some modifications of an “ADX Candles” indicator).

G.

About User Market Sentiment:
Sometimes a user have his own idea about market direction or some fundemental knowledge or preference.
In order to cater for that we need another User Parameter which can handle 3 states: Long only, Short Only, Both (LSB or 1,-1, 0).
The EA logic should take that parameter into consideration and trade only in the…[Read more]