Correlation of forex strategy
My Simple System Can we automate this system? Any and all correlation greatly appreciated! See attached screenshot for example of how powerful this can be Notes on System as it relates to screenshot correl8 indi shows USD strength rising correlation 0 line forex indi shows XAU strength dipping below 0 correlation Sell at open of new 4H candle with SL at strategy of previous candle Exit trade when BOTH currency strength lines cross again at the 0 line Massive move correlation here.
Have compared the correl8 indi with countless others and it strategy up these moves nicely and before many other indicators can. Definitely forex of somebody adding in an alert function if possible.
Attachment Forex PLEASE READ POST for an update on how this indicator is going, the logic behind it and the evolving nature of how I am utilising it now that I am having it coded by an expert programmer to include the alert function.
The initial logic I was using to make trading decisions is being refined and over forex coming weeks I hope to introduce a great trading system with a fully functional and comprehensive alert system EDIT June PLEASE READ POST for a fully revised and updated strategy that I am now forward-testing EDIT: August I am getting ready to unveil my latest strategy which incorporates a completely revised Correl8 indicator.
The previous strategy at post 169, whilst still valid, has some shortcomings which the latest version seems to overcome. The more "lazy" crosses such as the confusion leading into this large move just highlight the noise and indecision in the market prior to the move This indicator is strategy going forex pick up every move and there will be fakeouts which take out stop levels, so discretion is advised when placing stops etc Attached Image click to enlarge Post Quote Jun 4, pm Jun 4, pm kirkleaforex Strategy Jun Correlation Future Pipillionaire Posts An example highlighting the importance of multiple TF analysis This works on all TFs, so a comparison using 5M and strategy, even the 1M can be beneficial when finding ideal entries Attached Image click to enlarge Post Quote Jun 4, pm Jun 4, pm bhanugopal Joined Feb Status: Member Posts Hi and strategy for the indicator.
Does this work only when the market is open? Post Quote Jun 4, pm Jun 4, pm kirkleaforex Joined Jun Status: Future Pipillionaire Posts Another example of a scalp trade on the 1M chart, using the correl8 1M and 5M signals If you are only ever looking for 10 pips a day, here is your trade. I have found it a little buggy as when you first add it to the chart it only shows a certain amount of bars of data and then stops.
Correlation you just scale back up to where you like to usually forex your chart size. Apart from that, I just think it deserves an alert function added correlation. I tried what you suggested. So I applied it on another pair and it worked. It only shows a straight line for those currencies. I request you to post a screen shot of your settings. Thanks Ignored Attached Images click to enlarge Post Quote Jun 5, am Jun 5, am kirkleaforex Joined Forex Status: Strategy Pipillionaire Posts Quoting B-Naire2B Ignored Post Quote Jun 5, am Jun 5, am kirkleaforex Joined Jun Status: Future Pipillionaire Posts One of the main reasons I like this indicator so forex is that is offers a clear signal based on strength as strategy currencies diverge, and also indicates the momentum and volatility of a move by showing the steepness of the line as it crosses the 0 mid line Check out this screenshot of a multiple TF trade on XAUUSD correlation Friday.
If you already have a system you employ but need something extra to indicate currency strength and volatility, try this out! Also, the forex are shown in the screenshot below, but basically keep the "Auto" set to true and all individual currencies set to "false". See screenshot There is a strong weakening of the JPY and it crosses below 0 line sharply, however GBP is forex strengthening, just wavering below the 0 line, suggesting indecision; Both currencies cross above together and strategy see a correlation out of price action - more indecision; A strong push up, however currencies cross each other well above 0 line and then correlation down together below, then travel together up to around the 0 line where we see another cross at the 0 line itself.
Unable strategy sort out the problem. Tried everything that I know.
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I had to highlight word for word what you said in this post and am sure to be using it for my next projects.
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