thread: Recent Strength indicator

Attached is a document showing screenshots of a EURCAD trade I took today before London session close.

Fridays is always a tricky day to exchange for many traders,depending of the way that they trade and the systems they use.Many day-traders can agree with this claim, many say this is a myth.I would appreciate the wisdom of seasoned traders to shade some light onto this. On that note,this egy includes a complete higher win to reduction ration with trades obtained on Fridays,this is yet another reason why I am motivated to do additional study towards a good system . Because of David who were the brain behind this .

I'd love wisdom from seasoned traders, mostly those who use Price action, Support Resistance based programs.

Benji.
https://www.cliqforex.com/attachment...8550303006.doc

Thanks to David who have been the brain behind this .

Benji,

I am not the brain behind currency power.
There were lots of power indys around long until I began this thread. Http://accustrength.com/default.html and http://www.currencystrengthmeter.com/'s indys are two which come to mind.

What you have done is located a mostly mechanical way of using it, which is fantastic.

that I will attempt to find time to unveil the alerts facilities this coming week.

Nice commerce on the EURCAD, btw.

David

I would like to have at least some kind of affirmation that I'm on the right track with my EA.

Hello,

Sorry, it has taken me a long time to reply. I'm not sure what you intended by affirmation, but (IMO) too much is dependent upon how a trader occasions his entries and manages his trades, to provide conclusive remark concerning whether an EA concept is on the right track.

I will increase the variety sizes, and related logic from 500 points, allowing greater extent with your testing, some time this coming week.

All of the best,
David

I'd love wisdom from seasoned traders, largely those using Price action, Support Resistance established systems.

Benji.

Benji,

I do not know if I'm an experienced trader yet, and I really don't need to bring any confusion to what you're growing here.

But here is an alternate idea that you might like to consider.

Traders either commerce renewed power, or temporary fatigue. Renewed strength results in a breakout-type trading fashion, while weakness is pullbacks.

I use the pullbacks idea. I'll illue with your latest chart.

The diagonal green arrows illue pullbacks, while the blue arrows show an outside or engulfing candle which is a often a strong indiion that the (downward, in this case) move will resume itself. That will get you sooner into a move that is possible.

The problem with trading this entry is that you likely won't have the right settings in the strength indy in the lower timeframes, since it is going to take a few more candles to the downward move for the advantage indy to register this renewed strength/weakness.

What you might want to try is this: (1) certainly continue with the way that you're going, i.e. searching for strength/weakness correlation across all timeframes out of M5 all the way across to D1; however (two ) make a mental note of what pips you would have produced, if you'd made the alternate entrance, e.g. in your example, you'd want to find power in CAD and weakness in EUR from the H1/H4/D1 timeframes, but then look for the price action setups on the lower timeframes (say M15/M30).

If this is too complied, then please ignore my post.

David

Traders either trade renewed power, or temporary weakness. Renewed strength ends in a breakout-type trading style, while weakness is pullbacks.

I second you on this.

I use the pullbacks notion. I will illue with your latest chart.

The blue-green arrows illue pullbacks, while the blue dots show an outside or engulfing candle which is a often a strong indiion the (downward, in this instance ) move will resume itself. That will get you sooner into a move.

The problem with trading this entry is that you likely won't have the ideal settings in the strength indy in the lower timeframes, because it will take a few more candles to the downward movement for the advantage indy to enroll...

I strongly agree with this, for quite a long while now,I have been playing around with this indy to understand unique configurations,will reflects distinct market behaviour. Therefore the principal challenge is in finding the best settings to use for renewed strength,or even temporary weakness egies.
In my opinion I have found default settings to be more suitable for renewed strength strategy.

Everything you might like to try is this: (1) certainly continue with the manner that you're going, i.e. searching for strength/weakness correlation across all timeframes from M5 all the way across to D1; however (2) also make a mental note of what pips you'd have produced, if you had made the alternative entry, e.g. on your case, you would wish to see power in CAD and weakness in EUR in the H1/H4/D1 timeframes, but then look for the price action setups on the lower timeframes (state M15/M30).

Well understood no doubt you are well knowledgeable with dynamics involving renewed based trading strategy. I have also been taking advantage to profit on lower timeframes M15/M30,using a egy based on treadlines Breaks.This happen to be working like a charm . I will try to highlight this egy on my following articles. The disadvantage of the breakout egy is that it's double ,(which can be a health hazard!!) As a result I don't exchange it often,I have noted significant potential using this egy to boost profits.To go about this health hazard scenarios I have come across a tool which has been of fantastic assistance, which I will also share it .


Benji

I read this statement from post #59 I believed to reveal some screenshots to confirm it .

I completely agree with your statement that the more currency pairs offered by the broker, the more comprehensive the RS picture becomes.

Attached is a document showing an extensive picture of 2 brokers supplying the highest number of the 28 key pairs.I get information from them enter trades on my preferred broker GO Markets.

Happy Piping,

Benji.
https://www.cliqforex.com/attachment...1712702595.doc

All these screenshots below explains how I use RS to know market behaviors at any given time.Notice how RS have been in a position to foresee behaviors across these pairs.

That is a continuation of the prior article, EURGBP is expected to be ranging short term. Therefore I would target pips inside a range to profit from this Pair OR discount this pair concentrate on additional pairs.

Looking closely at my previous articles #300 #301,explains how market markers have the power to controls the market in many instances , look again EURJPY and USDJPY pairs are revealing almost identical patterns. This also applies to GBPJPY and EURJPY.

This tells us, we're always in competition with the Big Boys, many indiors are rendered useless when they play their game . They simply speak and the pairs align to their rhythm.

These big boys select the pairs they desire to play and abandoning others!! .In this case EURUSD EURGBP pairs have been abandoned for the greater part of the trading day,the outcome is or range markets for all these pairs.1H charts are revealing this clearly,look!

In my opinion, this is the unpleasant reality of this game!! Especially for scalpers!! . RS was designed for several applications, I personally use it in order to discover some of these BigBoys tricks, therefore shifting my trading style to their own rhythm .


Joyful Piping,

Benji.

Large boys rhythm continues, projecting all of technicals,indiors out of the window. Even more damning,manipulating fundamentals on these specific pairs.That's enough to inform us, the game has been rigged to their favor at least in the brief term.

This is really a high effect news week,comprising Non-Farm Employment Change,CAD Unemployment Rate, we might see exaggerated moves,when these news hits.

RS may be utilized to eliminate currency strength conflicts,between timeframes.This is still another reason to possess RS as an essential tool.

Benji