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Hello Hanover!
Thank you for the above!
Yet another thing: why does the Recent Strength indior not show exactly the very same results since the CSM (currency strength meter)? I might be overlooking something really obvious here!
And thank you again for all of your efforts!
Hi,
The answer is they use very different calculations.
Calculation for RS indy is clarified in posts #1, #7 and #20. RS indy displays constant stream of worth. The legend which displays values was inserted afterwards, as the result of a petition.
Calculation for CSM indy is clarified in posts #398 and #426. CSM indy also displays only discrete values, and is the result of extending a different petition (background in posts #51 thru #57).
Here is another advantage indior I hastily constructed earlier now, that uses a different calculation yet again.
David
Hi Hanover,
What am I to do?
Now we got three different currency power indiors!
1) Recent Strength Indior
2) CSM (Currency Strength Meter).
3) Strength J4D
This is very confusing for the average trader. If we set the'number of candles' for CSM and J4D to the same'amount of things' as in RS Strength, we get results that are still quite different.
I am aware that you're in the conclusion of your”giving” but it's you that let the genie out of the bottle. Which one of these do you favour from an trading choice point of view!
Thank you!
PS: I also got this alert from the RSalerts indi: 08:17:23 RS alerts [EURUSD,H4] strong=JPY,NZD,USD, weak=AUD,CAD,CHF
But the RS charts did not show the same.
Dakuki,Hi Hanover,
What am I to do?
Today we have three different currency power indiors!
1) Present Strength Indior
2) CSM (Currency Power Saver ).
3) Strength J4D
This is very confusing for the average trader. If we set the'variety of candles' for J4D and CSM to precisely the same'number of things' in RS Strength, we get outcomes which are different.
I'm aware that you are in the end of the”giving” but it is you who let the genie out of the bottle
There are a zillion different ways to figure currency strength, just because there are a zillion indiors which you can use on your trading. You can assemble just about any egy, and start with a blank canvas . As an instance, that do you think is the top moving average: easy, exponential, triangular, linear weighted, adaptive, sine, quantity weighted, DEMA, zero-lag, Hull, Ehlers, Tillson, Jurik, Satchwell,...? Next should you set their parameters? And which interval should they be best used by you on?
As I know it, it's not the indiors you use which are important; it comes down to how you interpret their plots, and the way you integrate the various moving parts into your trading egy: return, risk, installation, timing of entry, trade management, cash management,....
It took me nearly 4 years to work out how to trade profitably, in a manner I feel comfortable with (but then I anticipate a lot of folk are more intelligent than I am.) In my view, anything that's worthwhile requires time and energy. When I first started out, I thought that the markets could be defeated by mathematics, and that I would write an EA which would, over time, deliver profit. I assumed that by testing dozens on indiors that was different, I'd find those that mapped neatly into the market cycles, and simply use them when to buy, when to sell, when to pay. Now, some four years later, I have come full circle, as my journey has taken me progressively down the route of discretionary trading, but I am slowly reaching a stage where I believe that I can nail some of my own theories down mathematically. Though a lot of these are visual abstracts: support and resistance; chart and candle patterns.
Don't get me wrong, there are some contributors here who are strictly quant traders, but their understanding of statistical mathematics and econophysics is significantly greater than mine.
When I ever get time, I might start a thread on the way I have put the bits together for myself. But there is not a lot of incentive to post on forums like these, as not all feedback is positive.
David
Hi David,
This Really is an Superb reply. Thank you !
I would definitely be among many here which would greatly love you opening a thread on your startegies. Sure there are a number of negative folks on the market, but so what?
And I am also only doing optional trading. . .based on 16 indis. ” Various ways lead to Rome”
All of the best to beautiful New Zealand!
Dan
Thank you very much Hanover....
This looks to be an awesome indior to pick the best pair to exchange....
I believed about trade weighted indices then realised they would only possibly work on daily, weekly or monthly information. Why? Because at any given time at the 24hr Position FX market, the major currency or trading associate (s) will be the one that is going to impact the currency pair that the maximum. We are all open at different times on earth...
Anyway here are 2 attachments that might be of interest for weighting your Recent Power.
Markit document version of TWI.
Plus Deutsche Bank doc on page 72 TWI
https://www.cliqforex.com/attachment...1456940809.pdf
https://www.cliqforex.com/attachment...1781956323.pdf
Hello,
Many thanks for sharing these files. I am going to have read. The Recent Power indy can be weighted in just about any way you wish (using the Cn_ScaleFactor and Cn_Pairs_Wgts settings).
David
Hi Hanover,
In the opening post you stated
OutputFile #8211; if left blank, no output occurs. Otherwise, typing in the name of the file here can cause CSV output of all values plotted to be exported into the file name which you define, in folder.../experts/files, every time that the indior refreshes. The content of the file could then be erased by an EA, or by an appliion such as Excel, for use in further analysis
I had been wondering:Can you have while MT4 is writting the data to the 19, the output CSV file open in Excel? Have you any idea how to make Excel receive live data if you can? If the initial question could be done, do all 8 currency indices have each NumPoint value written to the file OR does it compose the NumPoint worth asked for in LegendValues? If the initial question could be done, will it automatically write the data to the CSV spreadsheet cells? Thanks for this particular indior... It is much appreciated... There are many others but that one appears to work nicely for me...
lnl
Wow, thanks for the very prompt reply....
I'll look into it.... Cause I have observed MT4 get live OHLC information earlier but maybe not indior information....
Its great it prints out all of the information... do not need to get several instances of the indior....
Thanks
lnl
Hi David,
Many thanks for your great works!! I would like to understand, is it possible to use RS indior / EA to know the sideways situation (not trending)? Because some friends explained that utilizing Scalping EA with Averaging Martiangle procedure is only great for sideways situation...
For example (please see attachment):
EUR = 2.6 (weakest)
GBP = 2.7 (2nd weakest)
CHF = 3.2 (3rd weakest)
NZD = 4.4 (4th weakest)
AUD = 5.1 (5th weakest)
USD = 5.6 (6th weakest)
CAD = 5.8 (7th weakest = 2nd most powerful )
JPY = 6.6 (8th weakest = strongest)
For sideways trading, which currency pair may be utilized?
A) EUR/GBP (weakest X 2nd weakest)
b) CAD/JPY (strongest X 2nd most powerful )
c) AUD/NZD (center pair, 4th weakest X 5th weakest)
Or all these are insignificant? Any thought?
Thank you very much David
= =
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