thread: Recent Strength indicator

Hi David,

Your reply received with many thanks.

I know the Strength indy is very subjective in its interpretation and use which may result to distinct alert indys/EAs for different users.

I must confess I have no clue how this stationary end values could be interpreted to slopes calculations. When these terms as shown on the attached record line up, many chances are in my side for a high probability trade.

I thought this could be a starting point to creating an indy /EA for users who rely heavily on static end values.Am eagerly awaiting your educated perspective on this,am less skilled in this field .


Happy piping,

Benji.
https://www.cliqforex.com/attachment...3840865012.doc

Hi David,

Your reply received with many thanks.

I know the Strength indy is very subjective in its interpretation and usage that might result to different alert indys/EAs for various users. ....

Hi Benji,

SorryI instead got off the original topic and started rambling.

Simply to explain, I found a means of utilizing the RS indy in a way that it helped with my overall egy, hence I tend to have a own'bias' toward this strategy. Everything you're proposing (with a single value as opposed to incline ) could have more merit profit-wise; I can not say because I haven't tested anything like it across a suitably large sample. However, please be aware that altering the RS indy's parameters may result in rather different values, crossover points between the lines, respectively - the slopes of the lines, relative to one another, is the factor, IMO.

Anyhow, none of this detracts from the excellent notion of coding/testing different alarm systems, external to the RS indior itself. The export document is ideal for this purpose. I don't have enough time to get too heavily involved in such a project, but any MQL4 developer could easily read alerts code and document to support a given egy.

David

Hi David,

Yes, you're right about this undertaking.

I've spent several months to figure out this profitable conditions, I could confidently state this indy has set me one of the constant profitable traders.

Am awaiting find any capable MQL4 programmer to sort this alarms problems incorporate those to the egy. Wish me luck.

Happy Piping,

Benji.

Hi David,

Yes, you're right about this undertaking.

I've spent several months to figure this out profitable tradable conditions, I could confidently state this indy has set me one of the consistent profitable traders...

Hello

Do you trade the way David advises (i.e. compare the angles of the slopes) or do you trade the high against reduced. I'd be grateful if you could give us a short description.

Kind Regards

Hi,
I utilize this indior for at least a year now.
Mainly to identify weak and strong currencies and spot pullbacks.

I always have my fundamental bias and try to locate opprtunites to enter on pullbacks, to spot tops/cycles I use a cycle indior and parabolic sar.

However, the recent strenth indi enables me react in no time without seeing a bunch of charts.

Hi

Can you exchange the way David advises (i.e. compare the angles of the slopes) or would you exchange the high against low. I'd be grateful if you could provide a short description to us.

I've made it simple to comprehend graphically on post # 272. And I have to state this indy has a certain level of personalization that is subjective and can be used in several distinct ways using egies. On post # 275,my strategy has been recognized by David.

David has a personal bias to his strategy that's profitable. I guess I just happened to be a good student for this indy till its has selected to confer with me in a language I can understand profit .

Happy Piping.

Benji

.... Its it possible to have a worldwide Separate EA which may monitor indy plots issue alarms based on various user parameter configurations....

Benji,

I have attached a configurable strength alarms indy to post #1 (Strength Alerts demo.mq4).

The way it is currently configured, it will provide an alert powerful message immediately any currency whose current strength values on ALL timeframes between M5 and D1 inclusive become gt; 50; and an alert weak message immediately any currency whose current strength values on ALL timeframes between M5 and D1 inclusive become lt; 50.

How often it checks for these alarms is dependent on which timeframe the indy is attached to. E.g. if it is attached to some M5 chart, then it will check for alarms every time a new M5 candle starts to form.

For this to work, the Recent Strength indy must already be running, and exporting information to an OutputFile whose name is just like that defined in the FileName parameter from the Strength Alerts demo indy, and across every one the TFs that the latter must test. Obviously the RefreshEveryXMins parameter from the prior needs to be put to an equal or shorter TF to the TF on which the latter is attached, e.g. if Strength Alerts demo is assessing for alarms every 5 minutes afterward Recent Strength has to be outputting the file every 5 minutes (or preferably less, i.e. 1 minute).

The Strength Alerts demo indy doesn't plot anything in your chart. Hence, just because no output occurs, doesn't mean that it is running. Depending on how price moves, and hence strength is dispersed across the currencies, you may have to wait a few minutes, or perhaps a few days, for an alert to occur.

Anyhow, hopefully this gives a starting point. If need be, the indy may be configured to look at basic slopes in addition to worth. As they are complex, I will not go into a comprehensive description of all its configurations. It's probably better if you explain a egy here (as clearly and comprehensively as possible, please), and that I shall try to configure the indy to suit. But, please be aware that there are limits as to what it can or can not do.

David

Benji,

I've attached a configurable strength alerts indy to article #1 (Power Alerts demo.mq4).

David

Hi David,

Its hats Away from me really appreciated.

I had to make sure I had captured trades that happened today during London session, before I could send this egy away.

Are a visual man and many description are in graphics.Am keen to be taught, so let me know if those descriptions makes sense.
At the present time the new alerts indy is ing in my platform, am currently studying it has surgeries .

Benji
https://www.cliqforex.com/attachment...3466017699.rar

The initial figure: below transactions examples taken july,7, 2011 through London session, after carefully examining Section 3. You may notice I exchanged a pair, EURCAD. Both of these currencies were identified as weak. This is a serious newbie mistake, which can happen when you have a number of currencies to pair .These amongst others are some of the mistakes forex gods will punish. (maybe they had been asleep J ). All these”common human mistakes”can be avoided througth automation.

However, what to learn from those two EURCAD screenshots is behaviors' of currencies which are near together in strength, they are most likely to be characterized by long wicks unpredictable price movements.

Joyful Piping,

Benji

Attached is a document with information about EURJPY EURCHF trades setups, that occurred today during london session. In those screenshots I have contained some more egy explanations. Hope this will shed a little light.
https://www.cliqforex.com/attachment...8086561212.doc