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CICR system (Currency index cross referencing)

  • Wht do you think of this method.
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  • #1
  • Quote
  • First Post: Edited Mar 26, 2020 10:51pm Sep 30, 2011 11:33am | Edited Mar 26, 2020 10:51pm
UPDATE: Created Telegram Channel for sharing real-time trade setups and other information related to Currency strength and weakness.

Join our telegram channel @ t.me/forexmechanics

Hello Fellow Traders,

My system is actually based on the strength and weaknesses of individual indexes.
You will need to download the MetaTrader software "sig trader" who provide index data eg. eurlfx, gbplfx, etc.

Please note this is a simple trading method so please don't complicate it too much and also if you don't have patience then this is not the system you are looking for. I am a swing trader so i have never tried this method on scalping but you are free to experiment.

So now coming to the method and the basic indicators you would need.

1) Macd, please download the one i am attaching here.
2) RSI (3) (Courtesy Lawgirl, do visit that thread) Custom Lawgirl trend display indicator. download it here
http://www.ojas-gujarat-gov-in.com/showthre...92#post4127792
3) Filter line

Ok now let's talk about the setup, there is some initial work involved but its worth it.

Firstly we have 8 individual currency indexes which are and these eight currencies can be paired in 56 different ways. I use two different meta traders.
In one of the MetaTrader, i have created profiles that contain 7 pairs pertaining to every currency index.

Example for EURLFX the profile consists of EURGBP,EURUSD,EURAUD,EURCAD,EURNZD,EURJPY,EURCHF.
GBPLFX the profile consists of GBPUSD,EURGBP,GBPAUD,GBPCAD,GBPNZD,GBPJPY,GBPCHF
similarly create currency profiles for every currency. The images below shall give you a clear understanding.

We recommend you to read post 1703 on page 114

Thank you so much for all the support given by each one of you.

www.forex-mechanics.com


UPDATE NOVEMBER 2019
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Thanks
Capito
Attached Image(s) (click to enlarge)
Click to Enlarge Name: AUDLFX.png Size: 40 KB
Click to Enlarge Name: AUDCAD.png Size: 50 KB
Click to Enlarge Name: audusd.png Size: 47 KB
Click to Enlarge Name: CHFTRD.png Size: 39 KB
Attached File(s)
File Type: mq4 filter line.mq4   3 KB | 2,574 downloads | Uploaded Oct 12, 2011 4:33pm
  • #2
  • Quote
  • Sep 30, 2011 1:07pm Sep 30, 2011 1:07pm
Attached are the indicators
Attached File(s)
File Type: ex4 MACD 1.ex4   3 KB | 2,783 downloads
File Type: tpl cicr.tpl   7 KB | 2,557 downloads
File Type: mq4 atr_levels.mq4   6 KB | 2,665 downloads
  • #3
  • Quote
  • Sep 30, 2011 6:40pm Sep 30, 2011 6:40pm
We all know about what is happening in the eurozone there are talks about stabilizing greece various other things however nothing is clear on the euro index chart.

Attached is the current situation on the euro index and based on that in the last two weeks using the CICR system I didnt get any trades on the EURUSD or the EURYEN however there were some amazing positions on EURCAD and EURNZD. The reason why we got the eurcad and eurnzd is because the cad and the nzd index was a clear downtrend on 19th sept 2011 and 21st sept 2011.

attached are the images
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EUR1.png Size: 45 KB
Click to Enlarge Name: eurusd.png Size: 39 KB
Click to Enlarge Name: eurnzd.png Size: 33 KB
Click to Enlarge Name: eurcad.png Size: 33 KB
Click to Enlarge Name: eurjpy.png Size: 28 KB
  • #4
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  • Oct 1, 2011 2:27am Oct 1, 2011 2:27am
Hi the euro finally nice move down and all rsi is same direction for eur lfx. Best trade came up in the eurgbp
Attached Image (click to enlarge)
Click to Enlarge Name: ERUGBp.png Size: 53 KB
  • #5
  • Quote
  • Oct 1, 2011 2:46am Oct 1, 2011 2:46am
A lot of my friends ask me as to what kind of money management i use.

Since the average pip gain on my system can be anywhere between 100 - 1000 pips per trade its obvious that i use a larger stoploss so that my pair can move around without hittin the stop.

Basic rule. I always trade micro lots. The simple reason being I am always on 50 or 100 leverage which is on the higher side. lets say i wish to trade 2 micro lots of eurusd on 100 leverage, in order to lose my entire 20 dollars of investment my trade should go against me by min of 100 pips.

Now lets say the stoploss is hit my loss is still restricted to 20 dollars only. but everytime my trade goes in my favour my pip gain is anywhere between 100 - 1000 pips. lets say on a trade i win 500 pips with 2 micro lots i win 100 dollars by risking 20 usd only.

So with a 1000 dollar ac balance i can have 50 trades worth 20 usd each on 100 leverage.

With a average pip gain of 300 pip per trade it makes it 60 usd profit per trade. So with 50 trades its 300 * 50 = 15000 pips = 3000usd with 20 cent pip value.

You can increase your lots in the same way with a higher ac balance.

Thanks.
Capito
  • #6
  • Quote
  • Oct 1, 2011 6:09am Oct 1, 2011 6:09am
I downloaded Sigtrader MT4 platform.

There are no indexes, such as you describe, available with it.

Can you be more specific about where you downloaded it?
  • #7
  • Quote
  • Oct 1, 2011 6:48am Oct 1, 2011 6:48am
Sir billbss,
i downloaded it for u.
within Market Watch (press CTRL + M if u have it hidden), right click anywhere then choose "Show all"
after that go to Window > Liteforex Index .....& u will find them there
  • #8
  • Quote
  • Oct 1, 2011 7:39am Oct 1, 2011 7:39am
Quoting supremeChaos
Sir billbss,
i downloaded it for u.
within Market Watch (press CTRL + M if u have it hidden), right click anywhere then choose "Show all"
after that go to Window > Liteforex Index .....& u will find them there

That did it.

Thanks!!!
  • #9
  • Quote
  • Oct 1, 2011 11:12am Oct 1, 2011 11:12am
can anybody help this thread by creating a sound alert for rsi 3

A sound alert should strt of each time the rsi 3 arrows line up in the same direction from H4,D1,W1,MN..

Based on the cicr system we will be using the RSI sound alert only on the individual indexes.

Thanks in advance.
  • #10
  • Quote
  • Oct 1, 2011 1:30pm Oct 1, 2011 1:30pm
Lets Take the CHFLFX to start with
6th September we all know was a beautiful day for trading. Its tempting to take standard lots on such days and make thousands of dollars in few hours however i am very disciplined so i never do it. I just take micro lots and stick to my plan very religiously.

So take look at the chf index image and see the arrow on the daily chart where it gave a clear short entry position on that day. The moment H1,H4,D1,W1,MN was in line, bang I was in with several CHF positions. On that day you could have taken 7 positions each for than 1000 pips gain in a single day. Long on all chf pairs and short on chfjpy. For total of more than 8000 pips on a single day.
lets tk a look at the positions i took.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: CHFindex.png Size: 29 KB
Click to Enlarge Name: GBPCHF.png Size: 35 KB
Click to Enlarge Name: usdchf.png Size: 31 KB
  • #11
  • Quote
  • Oct 1, 2011 1:58pm Oct 1, 2011 1:58pm
See how NZD index reacted and gave positions on pairs we never bother to watch.

NZDlfx nice daily rsi breakout on 21st september 16hrs later and it gave wonderful positions in the NZD profile at the same time.

GBPNZD gave a trade at the 16th hour still going strong already run up 450 pips
NZDUSD at the 16th hour running well for 600+ pips
EURNZD at the 16th hour gave a trade for nice 600+ pips
Attached Image(s) (click to enlarge)
Click to Enlarge Name: NZDlfx.png Size: 27 KB
Click to Enlarge Name: eurnzd.png Size: 30 KB
Click to Enlarge Name: NZDUSD.png Size: 23 KB
Click to Enlarge Name: GBPNZD.png Size: 27 KB
  • #12
  • Quote
  • Oct 1, 2011 7:38pm Oct 1, 2011 7:38pm
Your strategy sounds plausible -- will surely give it a shot.

Question: Isn't there an independent indicator that one can hook it up to any MT4 instead of using a different version of the MT4?
  • #13
  • Quote
  • Oct 1, 2011 7:43pm Oct 1, 2011 7:43pm
The reason i use sigtrader for individual index data is because it provides raw index data. And the reason i use a different mt4 indicator for my profiles is because that way it is more seamless instead of having everything in one mt4.
Tends to freeze sometimes if you have everything on sigtrader.

Honestly use it the way i am telling you a very simple reason being you will be watching index and entire profile price action at the same time.

Also sigtrader is the only mt4 which gives direct access to index data, if you do come across any other platforms providing index data i would be interested to know the names.

I hope i have answered your query.

Any assistance let me knw anytime.
  • #14
  • Quote
  • Oct 1, 2011 9:40pm Oct 1, 2011 9:40pm
Capito,

Would you please check the attached indicator and confirm if it shows the same info you get from SigTrader?
Attached File(s)
File Type: mq4 MIndex_v1_1.mq4   2 KB | 1,901 downloads
  • #15
  • Quote
  • Oct 1, 2011 10:26pm Oct 1, 2011 10:26pm
Yes it shows the same price as sigtrader. How do you use this. Is this that you plot all indexes on one chart and then trade intersections.

One thing I notice is that its difficult to guage precise entries using the Mindex.

I will work on it will let you know if there is a good way to use it.

One reason rsi 3 works well when h4,d1,w1 and mn is in the same direction for a individual index data is because you can see the monthly candle, weekly candle , daily candle all show perfect buying and selling pressure which manages to push your pairs into high profit zones in a span of 4 - 6 hours and some trades run even for 5 - 15 days.
  • #16
  • Quote
  • Oct 1, 2011 10:37pm Oct 1, 2011 10:37pm
I will post every time there is a trade alert on a individual index data.

And also which pair is the best to trade.

That way everybody will be able to get a grip of this simple swing trading trick.

The last trade i have entered is Short eurgbp.

Thanks.
  • #17
  • Quote
  • Oct 2, 2011 12:28am Oct 2, 2011 12:28am
Quoting capito
I will post every time there is a trade alert on a individual index data.

And also which pair is the best to trade.

That way everybody will be able to get a grip of this simple swing trading trick.

The last trade i have entered is Short eurgbp.

Thanks.
Count me in pal -- and thanks for the prompt reply for the above questions. In fact I discovered that they use the the Geometric Mean to compute the value of a particular currency against a basket of others. Here is the formula:

USD = MathPow(UsdChf[i]*UsdJpy[i]*UsdCad[i]/EurUsd[i]/GbpUsd[i]/AudUsd[i],1./7.);



But Capito, how did you find MIndex harder to make an entry if it is exactly as the EURLFX?
  • #18
  • Quote
  • Edited 1:36am Oct 2, 2011 12:29am | Edited 1:36am
Capito,

Interesting system. I can't get your macd to display on my charts even when using the template. Do you have the mql version? If I have that I can compile it and it hould then show.

Update: I reolved it by loading on SigTrader. It works there

Thanks!
  • #19
  • Quote
  • Oct 2, 2011 12:39am Oct 2, 2011 12:39am
Capito,

Did you see this:
http://www.ojas-gujarat-gov-in.com/showthread.php?t=109599

How do you think this is different from what you are doing?
  • #20
  • Quote
  • Oct 2, 2011 2:39am Oct 2, 2011 2:39am
hello walad,

In the past 8 years i have tried every system under every forum available online. Just like everyone else i have started off by spending a lot of my hard earned cash on stupid no good robots, systems etc.

Until 5 years back when i realized the universal truth. Money is always made when u sell weakness and buy strength.

I saw the thread you told me to have a look at, its the ccfp indicator which i was using couple of years back.
I had decent success with it wont deny that at all. Its just about how you are comfortable with various indicators available to you.

In my case i give a lot of importance to price action as that's the ultimate indicator to me.

A lot of people use ccfp intersections to trade which according to me is pointless cuz you will always end up missing the core price action.

Ok now some traders use ccfp by trying to spot extreme level reading that is when the ccfp of a particular currency has gone to extreme top or low vice versa. Now here the problem its again just probability.

Now in my personal opinion when you trade your probability of probable wins has to be great that,s when you get the desired success.

Does the ccfp indicator show you price action if you ask me , its a NO. Maybe there are traders who might have a better understanding to use it.

I am very fond of candlesticks is purely because that,s the only non lagging indicator available.

When a new month begins, it forms a new candle, now over a period of 4 weeks it takes a desired direction.
Imagine this you have a bearish daily candle, a bearish monthly candle BUT you have a 2 weekly doji candle for that month and all of this is happening in real time. IN simple words you are in a bad market noise phase best bet is stay away from that pair.

Try using the ccfp and use the simple trick i am suggesting and see how your performance differs.

trading can be simple provided the logic behind the strategy is simple.

I have always had patience and it always pays off.

Check it out from monday, see how the 3 rsi starts reacting on individual indexes. watch it for couple of weeks you automatically how easy trading can be.

I am always around uploading images and my trade setups so you get a better understanding.

Cheers!!!
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