thread: Recent Strength indicator

Hi ,

I've been using Gaira's currency strength meter to get a a few weeks now and was wondering if anyone else was having the exact same trouble as me and when there was a cure.

I'm running mt4 from two separate terminals you with eurusd and the other with eurjpy and possess the CSM running on both, but for some reason that the CSM shows different values for the each currency, e.g. at the moment the jpy is showing as being 6.7 power on a single terminal and on the other terminal it is showing as 4.4.

Just wondering if anyone else has encountered this problem or when there was a remedy?

Due

Hi ,

I've been utilizing Gaira's currency power meter to get a a few weeks now and was wondering if anybody else was having the exact same trouble as me and when there was a fix.

I am running mt4 from 2 separate terminals you with eurusd and the other with eurjpy and have the CSM running on both, but for some reason that the CSM shows different values for the every currency, e.g. in the present time the jpy is revealing as being 6.7 power on a single terminal and on the other terminal it is revealing as 4.4.

Just wondering if anybody else has encountered this problem or...

Hi,

You can easily prove whether the problem is related to the pair where it is attached (EU v EJ), by altering the chart to the same pair on the two platforms.

However, this shouldn't make any difference, as the indy averages the potency to get a currency across all of pairs for this currency, then repeats the procedure for every single currency, irrespective of the chart that it is attached to. Hence the most likely explanation is different JPY-based pairs on the 2 platforms, e.g. one platform has CADJPY whereas the other does not.

As you're running the same indy, and so the exact same program code, on both the platforms, then when there was a bug in the code, then it might cause the same error on both the platforms. Hence the most likely explanation is data on each platform.

David

David,

Hi again after a few times... thanks again for the last guidance and help (did not ack to prevent cluttering your mailbox.)

Now that I'm happily using your NewsSetup, Signal and have set both ATR(14) and Stoch on precisely the exact same window, I would like to test your Recent Strength (both the chart and histo) indys. In which case, is it possible to suggest some values for BasePoint and NumPoints?

My pref would be to get a uniform set on most of TFs but you certainly have considerably more experience and feedback from folks indebted to your voluntary work! I typically exchange combos of all majors (EUR, USD, GBP, JPY, CHF, CAD, AUD, NZD) and wish to restrict my trades to several-few hours perhaps a couple of days when an intriguing situation develops.

Having considered flotsom's StrengthMeter (and having had to change to upgrade in custom moments instead of the default tick upgrades that were killing my CPU), I now surmise that your Smoothing Ave used with NumPoints (with more than one candle included) basically does the job of rate of change (ROC), whereas the BasePoint attribute does the job of'current' (longer duration ) strength.

So your CSM is probably a sophistied and elastic device, if one combines the Recent Strength (chart) together with the CSM histogram. I'm assuming both can be placed on precisely the chart, maybe?

Happy Regards,
Athar.
Toronto.

David,

Will There Be a way to Enlarge the Recent Strength MTF charts Screen horizontally?
The difficulty on my screen is that the left 1/3rd of the window region remains unused, and the chart screen appears too narrow. Tried removing WK and MN screens, but no help.

Regards,

Athar.
Toronto.

David,

Hello after a couple of times... thanks again for the last guidance and help (didn't ack to avoid cluttering your mailbox)

Now that I'm happily using your NewsSetup, Signal and have set both ATR(14) and Stoch on the same window, I want to try out your Recent Strength (both chart and histo) indys. In which case, is it possible to suggest some values for NumPoints and BasePoint?

My pref is to get a uniform set on all TFs but you certainly have considerably more expertise and feedback from people indebted to your voluntary work! I typically trade...

Athar,

There are several methods of using the RS indy to encourage many different trading methodologies.

I have explained facets of my approach to trading, for example, use of the RS indy, in posts such as these: here, here, here and here. There are examples of the types of chart-based setup that I look for here, here and here. (Of course it's very much a discretionary work in progress; you never stops learning )

Personally, I would rather have the lines converging in the right of the chart (BasePoint = 0), whereas many folk seem to enjoy the traces dispersing from the left (BasePoint = -1). it's purely a matter of preference and SmoothingSMA although I happen to possess NumPoints. But I really only use the indy to give me clues as to which pairs' candle charts to examine, and affirm exactly what the RS plots are currently telling me.

I favor RS to CSM. A more story IMO is told by A continuous line. However, a histogram showing only the current value is probably better suited to a more manner of trading.

I have not attempted to put RS and CSM to the same chart, let alone window. Please feel welcome to experimentation.

With RS, currently there's no way of adjusting the flat'zoom', other than pressing the and - keys to adjust the zoom of all windows (including the main chart) simultaneously. I have a tendency to put RS on its dedied chart, allowing me to enlarge the RS window into full height (see the screenshots in some of the above mentioned links), to make the plot detail a lot easier to view.

David

David,

Thanks again... I believe using /- on the keyboard to horizontally expand your RS charts is the answer that worked before once for me, one that you just reminded me of

Re: parameters and methodologies, one's head can spin by simply looking at a single thread in one forum and there literally are hundreds/thousands of them trying to figure out a holy grail. Even if there's one, it has been missing in the sounds. It not advice, it is information overload that is the problem...

I concur that carry attention and news breakouts (if your broker gets minimum slippage) are great techniques. The futures options transactions balanced by deltas in one's Currency Market account, or arb egies do not work any more (deltas anyway are very difficult to always adjust ) The Long Tail theory, well known in academic circles had been popularized by Nicholas Nassim Taleb from the early 2000s whose hedge fund shut as occurred in 1998 with LTCM, conducted theory. !

The entire problem is predicting the time period of such black swan singularities or mean-reversion (another name for S/R range transactions.)

This OneNightStand egy (whereby, on Fridays just, you buy/sell 1 pip above/below the previous 10/8 afternoon high/low such as Thursday prices, and close the next Monday) looks intriguing - there's online discussion of trading the London open, e.g., with GBPJPY, by a straddle trade with closing the ineffective leg, taking advantage of volatility in open.

Despite above, the only convincing long-term research I have seen on profitable technique is really on pivots, quoted by by James S., a FX analyst (whose publication I do not recommend, but who has popularized a great study.) See below:

http://www.investopedia.com/articles...#axzz282lnHUbg

I found this on the stevehopwoodforex.com site who are experimenting with Nanning Bob's methodology, now updated to 10.2A, and a CTS expansion by coolncalm for ranging markets and reduced TFs (with another robot to get just considering currency power calls.) Fantastic indys from Baluda and Neotrader too, which stinks yours. I am sure you are familiar with this work, too.

Some time ago there was some work on The Beast EA which claimed using your functions too, but I really don't know how it contrasts with Nanning Bob's free work, started at FF. Whatever the case, provided the analysis above, there is got to be some validity in pivot points, the trick being setting the parameters, something experience and deep insight could instruct!

Regards,
Athar.

Athar,

There Are Numerous Methods of using the RS indy to support Many Different trading modalities.

I've explained aspects of my own approach to trading, including the utilization of the RS indy, in posts such as these: here, here, here and here....

David, ....

Re: parameters and methodologies, one's head can spin just by looking at a single thread at a single forum and there literally are hundreds/thousands of them trying to find out a holy grail. It by now has been missing in the noise, even if there is one. It not advice, it is information overload that's the problem...

Athar,

Agreed, there are a zillion egies on the market. All of them work profitably some of the time, during appropriate market conditions.

I can not comment on a few of those which you have listed (e.g.. 1 Night Stand, Nanningbob's 10.2A), as I've never used them for long enough to set a profitable history.

If you are a fan of pivots, then you could be considering the variety of S/R methods canvassed by http://pivotfarm.com/index.php.

David

CSM (currency strength meter) is a histogram-based version of the'Currency Power - Giraia' indy. Download to the.../experts/indiors folder, and restart MT4.

You will also have to http://www.thepcmanwebsite.com/how_t...ws_fonts.shtml the'Placard MT Condensed' ribbon (included in the attached ZIP file), if you don't already have it.

The parameters operate as follows:

Currency Pairs - lists all of 28 potential cross-products of AUD, CAD, CHF, EUR, GBP, JPY, NZD and USD. If your br0ker doesn't...

I'm having seing the histogram as displayed in your chart. Any suggestions?

I am having seing the histogram as displayed on your chart. Any suggestions?

The indior operates 100 percent on my computer.

You may find some ideas from the posts earlier in this thread. Please visit the notes in post # 1, if you're running Win7. Further suggestions in point 1(b) here.

Response into a PM from a member who is having problems getting CSM to operate properly:

Hello,

I have attached the most recent version of this CSM indy for this post. Additionally the Placard MT Condensed font in a ZIP file (because FF doesn't permit TTF documents to be connected ).

Install the .ex4 file in your...(MT4)/experts/indiors folder. If you want the source code, then install the .mq4 file in your...(MT4)/experts/indiors folder, and both .mqh files into your...(MT4)/ / experts/include folder. Please see here. Ensure that you install the Placard MT Condensed font as clarified http://www.thepcmanwebsite.com/how_t...ws_fonts.shtml, and that you have The CurrencySuffix parameter set properly (e.g. if your br0ker offers pairs such as EURUSDm, GBPUSDm, and so on, then set it ). Please be aware that the indy must gather a lot of information, from each currency pair/timeframe, in order to plot the info. You may try starting with just 1 TF, then adding each incrementally.

If you are running Win7 or Vista, http://4xtrader.net/how-to-run-metat...ws-7-or-vista/ can help you. From feedback I've received, a number of my indiors don't run on Win7 computers, also I don't feel that all of the reported problems are about the user access permissions. That being the case, I'm afraid there's nothing I can do to help you, as I run Win XP.

I have the parameters defined as follows (which generates the screenshot below): Inserted Code CurrencyPairs = GU,UF,EU,UJ,UC,NU,AU,AN,AC,AF,AJ,CJ,FJ,EG,EA,EF,EJ ,EN,EC,GF,GA,GC,GJ,GN,NJ,NC,CF,NF CurrencySuffix = TimeFrames = M1,M5,M15,M30,H1,H4,D1,W1,MN NumberOfCandles = 25 ApplySmoothing = accurate TriangularWeighting = false HistoricalShift = 0 SortMethod = D ShowValues = accurate FontName = Placard MT Condensed FontSize = 12 SeparateWindow = accurate HorizPos = 30 VertPos = 180 HorizSpacing = 15 UseAltColors = Color_AUD = Green Color_CAD = SaddleBrown Color_CHF = Yellow Color_EUR = HotPink Color_GBP = Crimson Color_JPY = DarkOrchid Color_NZD = CornflowerBlue Color_USD = White TextFont = Verdana TextSize = 12 TextColor = Silver RefreshPeriod = M1 UniqueID = 1 OutputFilename = CSM.CSV HighlightBox = false I'm sorry, but that's the best I can do. CSM works fine on my Win XP pc (see attached screenshot). You will need to try another indy, if you can not get it to run. There are plenty of strength indys which can be found on the FF forum.

Good fortune,
David

https://www.cliqforex.com/trading-sy...18-demark.html
https://www.cliqforex.com/attachment...1576433015.ex4
https://www.cliqforex.com/attachment...0809820220.mq4
https://www.cliqforex.com/trading-sy...hits-snag.html
https://www.cliqforex.com/general-fo...0-aud-usd.html