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Trading system using relative strength

  • #1
  • Quote
  • First Post: Edited May 23, 2011 10:43am Oct 9, 2008 2:38am | Edited May 23, 2011 10:43am
I have been testing out a simple system almost exclusively looking at price action with fairely good results.This is how it is done:

1.Open any chart with 4 hr bar
2.add CCfp Indicator.
3. look for differences of each currency on the data menu of the LAST TWO 4hr bar.
4 Open the postion 5-10 minutes after the new bar has opened

The account has grown pretty good with alsmost no loss so far in the last one month.

This is so simple it must be easy to create an EA or indicator for this system.
I will soon put up the chart and indicator here.
Thanks
Kris
  • #2
  • Quote
  • Oct 9, 2008 2:43am Oct 9, 2008 2:43am
here is the chart and CCfp indicator
Attached Image (click to enlarge)
Click to Enlarge Name: es trader.gif Size: 37 KB
Attached File(s)
File Type: ex4 CCFp.ex4   19 KB | 17,716 downloads
  • #3
  • Quote
  • Oct 9, 2008 2:52am Oct 9, 2008 2:52am
check for the price differences of the ccfp on the data menu and find out which currency is stronger/weaker on the last 4 hr bar. Then open the pair and watch your pips grow.!!!
The advantage of this method is
1. you are in tandem with the strength of the MAIN currency in the pair
2. You are trading multiple currency pair at the same time

kris
  • #4
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  • Oct 9, 2008 3:00am Oct 9, 2008 3:00am
Very interesting system, Kris.

I'll be trying this.
  • #5
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  • Oct 9, 2008 3:02am Oct 9, 2008 3:02am
ES,

Do you have the code for this indi? It won't display on brokers with a suffix.
  • #6
  • Quote
  • Oct 9, 2008 3:03am Oct 9, 2008 3:03am
thanks Eureka. You wont regret.Of course try it out on Demo. I will put my trades in one hr when new 4 hr bar will open.
Kris
  • #7
  • Quote
  • Edited 3:16am Oct 9, 2008 3:15am | Edited 3:16am
Great!!

What are you using for TPs and SLs?

Carol
  • #8
  • Quote
  • Oct 9, 2008 3:17am Oct 9, 2008 3:17am
This indicator crashes my metatrader? Any ideas?
Life is too short to have anything but delusional notions about yourself.
  • #9
  • Quote
  • Oct 9, 2008 3:17am Oct 9, 2008 3:17am
hi kris,

sorry but i wonder could you explain what you mean by "check for the price differences"

thanks
  • #10
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  • Oct 9, 2008 3:17am Oct 9, 2008 3:17am
Benq,
I am glad you are here. I am not able to display this indicator on IBFX mini account because I have to add "m" at the end of the pair. I do not know how to do that.are you able to change the code to show it on ibfx account?
Thanks
Kris
  • #11
  • Quote
  • Oct 9, 2008 3:23am Oct 9, 2008 3:23am
Fourx
Look at the completed two 4 hr previous bars. Then look at the values of each of 8 currencies on the data menu. If the value is more than the previous bar the currency is strong and vice versa.
You can also trade thes e currencies in the futures market( of course you will need lot more margin, but better than forex brokers since futures brokers are well regulated) using this sytem. I made close to 4 grand in 0ne hr .
Kris
  • #12
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  • Oct 9, 2008 3:28am Oct 9, 2008 3:28am
cheers kris
  • #13
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  • Oct 9, 2008 3:40am Oct 9, 2008 3:40am
Does this indicator go in the experts folder or the experts/indicator folder?
Life is too short to have anything but delusional notions about yourself.
  • #14
  • Quote
  • Oct 9, 2008 3:44am Oct 9, 2008 3:44am
I don't use IBFX. My broker has a different suffix. I'm not a coder, but I can usually change something like this. However, this one looks a little beyond me. Hopefully someone else will take care of it.

Quoting ES Trader
Benq,
I am glad you are here. I am not able to display this indicator on IBFX mini account because I have to add "m" at the end of the pair. I do not know how to do that.are you able to change the code to show it on ibfx account?
Thanks
Kris
  • #15
  • Quote
  • Oct 9, 2008 3:47am Oct 9, 2008 3:47am
Hoss,
goes in experts/indicator folder.
  • #16
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  • Oct 9, 2008 3:53am Oct 9, 2008 3:53am
Carol,
I am still working on SL and TP.
I have been basically using standard 2-3% of account value as SL. As far as TP goes I get out if I am happy with the amount or just enough to pay monthly payment for my son,s medical school tuition. LOL.
Kris
  • #17
  • Quote
  • Oct 9, 2008 3:53am Oct 9, 2008 3:53am
Quoting BenQ
Found it.
You sure that's the right mq4? It doesn't compile out of the box.
  • #18
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  • Oct 9, 2008 3:54am Oct 9, 2008 3:54am
Kris ,

sorry kris but i still dont grasp what you mean.

the chart you are showing nz/jp has a bar from 1st oct?, why?

what would your trade be from the data you are showing?

cheers
  • #19
  • Quote
  • Oct 9, 2008 3:55am Oct 9, 2008 3:55am
Quoting ES Trader
Carol,
I am still working on SL and TP.
I have been basically using standard 2-3% of account value as SL. As far as TP goes I get out if I am happy with the amount or just enough to pay monthly payment for my son,s medical school tuition. LOL.
Kris

How many pips have you made with this system in the past month you have been trading it?
  • #20
  • Quote
  • Oct 9, 2008 3:58am Oct 9, 2008 3:58am
cant attach to chart?

sorry bout this kris! but while its quiet
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