Forex strengthmeters - the basics

[hybrid]

good stuff.

 

[NVP]

good stuff.

thanks H ...........its all pretty simple ........

but you cant beat simple ....sadly its the hardest thing for a human to do for more than about 15 seconds these days ......and the main reason 95% of traders fail over time

Make everything as simple as possible, but not simpler.
Albert Einstein

N

 

[jhlewis10]

First post and I can not get the indy to load.

I have loaded hundreds of indy's in mt4 the correlator shows up blank what am I doing wrong? It compiled fine.

What are the fixed min and max to be set at?

 

[hybrid]

First post and I can not get the indy to load.

I have loaded hundreds of indy's in mt4 the correlator shows up blank what am I doing wrong? It compiled fine.

I had this problem amigo - you are probably with a dealing desk using the wierd sunday candle.

*

There seems to be zillions of ways to use this indy, even as a final check for another systems entry. e.g all looks good to trade, last (or first check) is the strengthmeter to see if the pair correctly correlated.

 

[jhlewis10]

Tried it on Oanda seems to load, but my account is with Traders Way ECN no love, its blank.

 

[jhlewis10]

Must be a TW thing, I can get the labels to show by choosing fixed for max and min but nothing else.

 

[jhlewis10]

My fault I went full retard. TW has a suffix. Added the i and all is good.

Sorry.

 

[NVP]

yep - watch the suffix ........we have traders using this across most platforms ok ......

welcome
N

 

[NVP]

Everyone

apologies for the delay in continuation of this thread ..........my day job is killing me at the moment so I post when I can ....

N

 

[sandyberg]

Still Going NVP...?

NVP,

Just wanted to say thanks for this insightful intro to Strengthmeters. Are you going to continue this thread or have you moved over to another one for your discussion on the 'full' fxcorrelator strengthmeter?

Thanks once again.

SandyB

 

[BIGoffice]

Hi NVP can you advise what program the FXCORRELATOR needs to be opened in?

 

[NVP]

NVP,

Just wanted to say thanks for this insightful intro to Strengthmeters. Are you going to continue this thread or have you moved over to another one for your discussion on the 'full' fxcorrelator strengthmeter?

Thanks once again.

SandyB

hey all

1 million apologies for this thread going cold ...........if you follow my main thread here at T2W you may be aware my company is making me (and 450 other people redundant) in the UK and unless I move to Switzwrland or the USA I'm going to have to find another company to work for in 2014

pain in the butt and its taking up a lot of time setting up job hunts, interviewing and also trying to negociate a new deal abroad .....

I am also considering finally going full time Pro in forex but again even after many years being part time I now want to trade lower TF's and need plenty of lead time and preactice on the sytems I have before I put serious wages money on the table and start to play..........

so thread activity is light here at the moment ...........sorry :smart:

PS i am making calls when i can on the main thread and will one day also teach again what I am doing

N

 

[NVP]

Hi NVP can you advise what program the FXCORRELATOR needs to be opened in?

its only Mt4 platforms dude ...........:smart:

 

[MajorMagnuM]

http://www.trade2win.com/boards/forex/179468-forex-strengthmeters-basics-3.html#post2197820

ok if you reread the post above I wanted to say one more thing about how you can vary the moving average settings on a Strengthmeter (still using the simple EURUSD as an example)

heres the lower indicator now on a 500 setting .........can you see how close it resembles the ACTUAL price on the EURUSD chart above it ?

thats because at high MA settings a strengthmeter indicator can mirror the instruments/currencies/currencypairs it is measuring !

so remember that on anything you do .........comparing actual prices to mega high MA's means you are virtually showing the realtime movements without any MA skew

now thats pretty pointless if you are trading MA's on a standard chart .....but I am teaching you about Strengthmeter usages of MA's..... so please be patient as you soon see how incredibly useful this 500ma setting is and how at least 2-3 products on the market are simply doing this whilst trying to charge up to £10,000 for a course to learn it .....

yep ........sad but true

next chapter tomorrow hopefully ..........(unless i am a property tycoon by then)
N

Hi NVP. I'm up to this post and just wanted to clarify b4 i read further.
1) the indicator on a 500 setting is the yellow stretched ma. the blue line is the closes (each x position is adjusted by the same amount as the yellow ma is adjusted to be flat(which allows you to better judge distance between current price and ma) so wont blue line always look just like price,whatever the ma period chosen?
hope this question hilights my missing concept which will enable me to develop a good base understanding of stoc/macd//rsi etc (i only ever really used 5,34,5 macd)

 

[edabdoub]

Hello NVP,

I just found out your threads here through forexfactory.

I have spent the last months deeply coding currency strength meters and studying strategies, and I blame myself for not researching enough to find you.

Its impressive all the work you have put to teach others your work of years.

appart from congratulate you, I wanted to share my work with you, maybe it would be useful to interchange some ideas.

I was surprised that you are using just 8 pairs and USD as the axis for all others, its very simplistic, I used 28 pairs to determine individual strength of the 8 majors.

Im posting some screenshots of my indicators, if you would like to take a look at my work I would be honored, send me your email and I will send you the code.

Im not selling anything, but I dont know if its a good idea to post my indicators in your thread without your permission.

Hoping to hear from you soon

Respect

P.D.
in the file lines.jpg you see 2 different results, in the above, I used Moving averages algorigthm, in the below panel I used Rate of change algorithm. I even implemented more algorithms like stochastics, ichimoku and ADX to determine currency strength and Im exploring options to combine them as you can see in histograms-condensated.jpg.
Maybe Im overthinking, which I tend to do a lot, so I hope to get some light here.

 

[NVP]

hey E - very very impressive ..............

thats some serious hardcore programming that I have passed to Jedster for a lookover

I have responded by private e-mail as well

we are also honoured to see such research ourselves on the thread ..........post whatever you want on my main thread here at T2win and upload whatever you deem is non confidential ......you may need to go to a solo thread at some point if you get lots and lots of queries (you will)

no worries from me ...............all i ask is that you respond to any queries you get when on the thread as clearly jedster and I are not the authors

will take a look mor deeply when I get more time

thanks again dude
N

 

[NVP]

hey all ....this thread is on tickover at the moment until i get more time ............be patient ......more will come .........N

 

[far_spam]

MT5/MQL5 Version

This indicator has been incredibly useful to me. So to give something back here is an MT5/MQL5 version. Im not a programmer so nothing amazing here its simple and does the job.

Anyway the way MT4 is changing I think we will all be seeing a gradual push towards MT5!

The main reason I had to write this in MT5 is that the strategy tester in MT5 uses multicurrencies. Think about that! :idea:

 

[samsadeck]

hey E - very very impressive ..............

thats some serious hardcore programming that I have passed to Jedster for a lookover

I have responded by private e-mail as well

we are also honoured to see such research ourselves on the thread ..........post whatever you want on my main thread here at T2win and upload whatever you deem is non confidential ......you may need to go to a solo thread at some point if you get lots and lots of queries (you will)

no worries from me ...............all i ask is that you respond to any queries you get when on the thread as clearly jedster and I are not the authors

will take a look mor deeply when I get more time

thanks again dude
N

Dear friend,
I just stumbled on this great thread, first saw it on ff, but there's too much to read. I am tring to get to the part where it says where to go to learn from you and get this indicator etc.

Thanks..
Sam.

 

[NVP]

This indicator has been incredibly useful to me. So to give something back here is an MT5/MQL5 version. Im not a programmer so nothing amazing here its simple and does the job.

Anyway the way MT4 is changing I think we will all be seeing a gradual push towards MT5!

The main reason I had to write this in MT5 is that the strategy tester in MT5 uses multicurrencies. Think about that! :idea:

thanks for this ...............we will take a look .....apologies for delay in responding

jedster ?

N