Doshur
> If I would to trade EURUSD, GBPUSD, EURJPY, USDJPY - would it be good if I use this filter?
The principle may have some value, more in working out weight of trade (i.e. lot size) rather than entry points IMHO
You should consider that:-
1) Majors drive the crosses rather than the other way round
2) The plan depends on correlation between major pairs which has not been consistent since early '07 IIRC
3) At any one time, one major may be more important than the other in driving a cross, e.g. currently I would be looking at USDJPY to influence a EURJPY position, not EURUSD
4) You have missed one of the strongest correlations, i.e. the tendency of USDCHF to go the opposite way to EURUSD
So...
Much more work needed but you are thinking along useful lines :)
FWIW
-BB-
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
If I would to trade EURUSD, GBPUSD, EURJPY, USDJPY
would it be good if I use this filter?
pls comments.
//+------------------------------------------------------------------+
int S, R;//| Compare |
//+------------------------------------------------------------------+
int Compare()
{
double Curr_MA, Prev_MA;
if(Symbol() == "EURUSD") S = 1;
if(Symbol() == "GBPUSD") S = 2;
if(Symbol() == "EURJPY") S = 3;
if(Symbol() == "USDJPY") S = 4;
switch(S)
{
case 1 :
Curr_MA = iMA("EURGBP", 0, 5, 0, MODE_EMA, PRICE_CLOSE, 0);
Prev_MA = iMA("EURGBP", 0, 5, 0, MODE_EMA, PRICE_CLOSE, 1);
if(Curr_MA > Prev_MA) R = 1;
if(Curr_MA < Prev_MA) R = 2;
break;
case 2 :
Curr_MA = iMA("EURGBP", 0, 5, 0, MODE_EMA, PRICE_CLOSE, 0);
Prev_MA = iMA("EURGBP", 0, 5, 0, MODE_EMA, PRICE_CLOSE, 1);
if(Curr_MA < Prev_MA) R = 1;
if(Curr_MA > Prev_MA) R = 2;
break;
case 3 :
Curr_MA = iMA("EURUSD", 0, 5, 0, MODE_EMA, PRICE_CLOSE, 0);
Prev_MA = iMA("EURUSD", 0, 5, 0, MODE_EMA, PRICE_CLOSE, 1);
if(Curr_MA > Prev_MA) R = 1;
if(Curr_MA < Prev_MA) R = 2;
break;
case 4 :
Curr_MA = iMA("EURUSD", 0, 5, 0, MODE_EMA, PRICE_CLOSE, 0);
Prev_MA = iMA("EURUSD", 0, 5, 0, MODE_EMA, PRICE_CLOSE, 1);
if(Curr_MA < Prev_MA) R = 1;
if(Curr_MA > Prev_MA) R = 2;
break;
}
return(R);
}