Recent Strength indicator -
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thread: Recent Strength indicator

  1. #711
    Senior Member Tataylo's Avatar
    435
    I've given CSM ('Currency Power Saver') a facelift. Aside from two or three new choices, the improvements are largely cosmetic. The most recent version is attached:https://www.cliqforex.com/attachment...1100343903.ex4NOTE: In case you are interested in getting the .mq4 origin to compile without errors, you will want to do this first. Otherwise, download just the. ex4 file. Https://www.cliqforex.com/attachment...7690350001.mq4
    To plot the histogr, you have a choice of fonts:'Placard MT Condensed' (PLCC__), or'CSM' that was generously provided by Saronko (which produces the'constant' bars shown in the screenshot at the base of this article ). The histogram bars are generated by plotting the character 'I' repeatedly, after rotating it 90 degrees. If you need help installing the fonts, read https://www.fontspring.com/support/i...-my-windows-pc. Struggling to put in a minumum of one of the fonts could lead to unpredictable results. Https://www.cliqforex.com/attachment...0768141047.zip
    I've received questions about how to translate the Trend Summary (note: place SummarySpacing to disable this feature). This is only a plot of the histogram values for each currency, from down monthly to M1. If you are looking to enter at the beginning of renewed momentum, ideally you wish to pair two currencies whose curves are loed/shaped something like those shown here:
    Another new feature is the little numbers that seem like lt;-n which represent the'spread' between the highest and lowest currency values (can be /-1 because of a rounding error). A spread of 60 or higher generally represents adequate momentum if you pair the vertical currencies, on that interval. A value less than 40 tends to mean that the market for a whole is flat/rangebound. Establish DisplaySpread to TRUE to allow this facility.

    Changes to additional parameter configurations:
    #61623; Place HighlightBox to TRUE to draw on the gray box around H4/D1/W1 histogr (the timeframes that I tend to concentrate on).
    #61623; RefreshPeriod replaces RefreshEveryXMins and can be explained here.
    #61623; UseAltColors overrides the Color_XXX configurations and is perhaps best explained by an illustration: an entry of DodgerBlue,25,Yellow,50,Orange,75,Red signifies that values of less than 25 will be plotted in DodgerBlue; values between 25 and 50 will be plotted in Yellow; values of between 50 and 75 will be plotted in Orange; and values above 75 will be plotted in Red.
    #61623; ShowValues: if TRUE, the values on top of each histogram bar will be displayed. If FALSE, then they'll be omitted.
    #61623; CurrencyPairs: Notice -- permissible abbreviations are: A=AUD; C=CAD; E=EUR; F=CHF; G=GBP; J=JPY; N=NZD; U=USD; H=HKD; S=SGD; Z=ZAR. That means you could sort GU or gu rather than GBPUSD, for example. To additionally save you some typing, CurrencySuffix gets appended to the end of each entered pair.
    #61623; OutputFilename: to disable this facility, make the setting blank. Otherwise outout will be sent into a file of this name you specify in the.../ / MQL4/Files folder. The file gets overwritten with new data every RefreshPeriod. You can specify a subfolder (under the Documents folder) by entering something like subfolder\filename. You can embed the chart symbol or the date/time from the file name by including [sym] or [dt], respectively, in the filename. The output file may be read by an EA, so that currency strength values can be utilised to donate to the EA's decision making process. The format of this output file is fixed, and appears like this: Inserted Code TF, AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD M1, 36, 71, 30, 47, 15, 70, 67, 64 M5, 49, 56, 25, 64, 44, 49, 55, 59 M15, 51, 57, 33, 60, 54, 33, 54, 57 M30, 52, 67, 36, 52, 60, 37, 47, 48 H1, 60, 70, 30, 47, 64, 34, 47, 48 H4, 75, 71, 21, 31, 64, 39, 58, 39 D1, 80, 81, 21, 42, 58, 28, 56, 35 W1, 66, 86, 37, 61, 47, 14, 65, 24 MN, 63, 76, 45, 65, 38, 19, 68, 26 #61623; If, for some reason, you want several instances of this indior on the same chart, you must give each case another UniqueID. Failure to do so can cause unpredictable outcomes.
    #61623; Many of the additional parameter settings are explained here as well as here. Please feel welcome to experiment with any other people.


    This is exactly what the indior resembles, plotting the histogr using the'Placard MT Condensed' ribbon:
    This is exactly what the indior resembles today, using the default configurations ('CSM' ribbon ):
    NOTE: If this indior is beneficial for you, please'Like' this post. If enough members find it helpful, I will go the trouble of sharing any future upgrades.

    DISCLAIMER:
    Indior is offered free in an'as is' basis. Source code was provided if you want to create any fixes or changes. Download and use at your own risk.

  2. #712
    Junior Member Haylis's Avatar
    3
    I've given CSM a facelift. The enhancements are mostly cosmetic. The most recent version is attached. fileNOTE: In case you are interested in getting the .mq4 source to compile without errors, you ought to do this first. Otherwise, download only the .ex4 file. file Re plotting the histogr, you have a choice of fonts:'Placard MT Condensed' (PLCC__), or'CSM' which was generously provided by Saronko (which produces...
    many thanks

  3. #713
    Junior Member Adri5puyi's Avatar
    21
    I've given CSM ('Currency Power Saver') a facelift. Apart from a couple of new choices, the enhancements are largely cosmetic. The most recent version is attached:document NOTE: If you want the .mq4 source to compile without errors, you'll need to do this first. Otherwise, download just the .ex4 file. document To plot the histogr, you have a choice of fonts:'Placard MT Condensed' (PLCC__), or'CSM' which was generously provided by Saronko...
    hi..dear. .
    have. . U..Recent Strength....with. .alert. . .messages?

  4. #714
    Senior Member Tataylo's Avatar
    435
    have.. U..Recent Strength....with. .alert. . .messages?
    I composed a separate alerts indior almost 6 years ago (latest version heresome directions here), however I can not recall just what it does now. Looks like it was written specifically for kibed83's needs, also gets its data from an output generated by the RS indy itself. It is very old, hence I doubt that it functions correctly on the most recent MT4 assembles, but please feel welcome to give it a go, if you want to.

    In case you can not get it to work correctly, or produce alerts for the requirements you are searching for, your very best choice is likely to discover another strength indior. There are dozens of them some are listed in the green typeface text in post #1. Sorry, but currently I don't have enough time to explore this any farther.

  5. #715
    Junior Member Adri5puyi's Avatar
    21
    quote I composed a separate alarms indior nearly 6 years ago (latest version heresome instructions here), but I can't recall just what it does today. Looks like it was written specifically for kibed83's requirements, also gets its data from an output file generated by the RS indy itself. It is very old, therefore I doubt that it works right on the latest MT4 assembles, but please feel welcome...
    hi.Dear..Thank. . Un
    I'am.Coder..very. .useful

  6. #716
    Hi,

    thanks for this great indi

    I'd love to locate my TRADE ENTRY with CSM.

    Can you help me via

    (1) I will cross assess equally TF 4H TF 15M

    (two ) then wait for some pair to align as most powerful weakest. The pair must be equal in both TF 4H 15M since the most powerful weakest.

    (3) if the strongest moves over 80 (average) and also the weakest moves below 20 (average) in both TF 4H 15M, then I make the TRADE ENTRY.


    Am I doing this the right way?

  7. #717
    Senior Member Tataylo's Avatar
    435
    thanks for this great indi I would love to find my TRADE ENTRY using CSM.
    Many thanks for the kind words, however all the indior does is execute some arbitrary calculations based on past data and show the results as a histogram. In terms of being able to detect underlying bias or forecast future price behaviour, it's no better or worse than any indior. It isn't able to assess fundamental drivers and determine whether existing strength or weakness is likely to continue or not. More information regarding the merits of strength indiors here.

    would you help me through (1) I would cross check both TF 4H TF 15M (two ) then await some pair to function as most powerful weakest. The pair has to be equal in both TF 4H 15M since the most powerful weakest. (3) when the most powerful moves over 80 (average) and the weakest moves under 20 (average) in both TF 4H 15M, then make the TRADE ENTRY. Am I doing this the right way?
    I am sorry, but I don't think I can help you. I can't possibly know whether a specified TA-based egy, that I have never used before, is long-term profitable or not. IMHO there is no'correct' or'wrong' way. You would have to do your own testing, ideally within a few hundred trades and many weeks' worth of shifting markets, and prove profitability and robustness to your own satisfaction, especially as it's your own money which you will become putting at risk. To exchange , you need to trust your own conclusions, not mine.

    If you want to pair strength/weakness across two TFs, then IMHO you have to find your own answers to questions such as why H4/M15 and not D1/H1, for example. You would also have to decide the way your egy will take care of an assortment of elements such as high impact news, weekend gaps, any particular rules for various sessions/times daily, your departure rules, how you are going to manage risk, etc etc.. For more info on system development, you can read a post (for example) such as this one as a starting point.

    I am slowly developing my own approach to trading. Rather than your'system', it includes the use of several distinct concepts, and is extremely complex (I disagree with the'keep it simple' principle). I am not looking to experiment with new TA-based ideas, or collaborate with anybody who is mostly TA-focused, at this point.

  8. #718
    Junior Member Noemi2704's Avatar
    19
    Hello,
    Your job on currency strength is pretty interesting and you may have the ability to assist (or curate) a notion I have but need an indior for. Its reliant upon trading supply/demand zones round a rigorous set of principles (in line with economic projections, sentiment measurements, and technically measuring strength of supply/demand zones to just pick certain ones) but I am looking for a histogram that lets me find and draw divergences from the currency strength across all pairs instead of divergences in MACD on a single pair.

    This way I can look at the currency strength to determine whether momentum is either weakening or strengthening across the entire currency before I take a transaction based on a supply and demand zone in keeping with my potential expectations economically/sentimentally.

    Basically I am trying to find a histogram that looks like this:

    whom I can exchange divergences in currency strength across all pairs coming an area where price is likely to find thick orders and reveals thinning momentum, possibly a divergence in creation of this zone, or on return to the same zone that revealed a prior divergence. The indior would subtract USD strength from EUR strength and plot the gap around a zero line for every candle, but just for the pair EUR/USD if I was currently considering it. Combine this with greater time frames and economic/sentiment projections that say price should likely rise/fall later on, and you get the idea. Do you know of one?

  9. #719
    Senior Member Tataylo's Avatar
    435
    Do you know of one?
    Sorry, no I don't. You are combining a few expert ideas (strength/weakness, supply/demand locations, quantity, divergence, economics/sentiment, etc) here. To plot your histogram, you'd want to define your strength calculation in accurate mechanical provisions, such as an indior to be developed. You may try posting on among the I code to get free threads, and hopefully a programmer will see that the potential in this idea, and code it for you.

  10. #720
    Junior Member bravo's Avatar
    28
    Hello,

    Thx for all yor work.
    It possible to add the end result of the strenght indior on data buffer? So we can try out some egy tests?

    Thx for your time

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