School of Pimpology - page 139
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Hi all,
Of course, the most pips were gathered from GBPJPY, because GBP was loosing like a hell (see black line at the bottom of last week).
I took only those signals which are in the direction of the currency strength.
This week, so far EUR is really performing well, so I long it against those currencies that are below 0 line.
So from individual currency strength meters, I made another step and measure combined strength of two currencies, which gives me picture of the given pair.
Would be willing to also share the difference indi? I like the sum.
Thanks and Happy pipping,
Yaaaaaaaaaaaaay
New toys new toys new toooooooooooooooooooys!!
Christmas has arrived and Endy is Santa. Thanks for posting the indicator. It looks really very useful and from your explanations, pretty easy to follow too.
I have been a bit of a stickler in the past, using the USD as a benchmark to guage overall strengh. You know, the old football analogy I loved so much..
If Euro can beat Dollar (EURUSD bid) and Dollar can beat Yen (USDJPY bid) then Euro can definately beat Yen (EURJPY very bid)
But this takes the thinking and the ploughing through many charts out of it.
Very nice indeed.
Shame on you !! how can I justify asking Santa for 10 more screens?? lol
I'm off to have a little look at this before beddie-bies.
Great work guys. Lovely to see a bit of diversification on here.
Night-Night. x x
Ooooh
So, just to chuck a bit of old fashioned S&R into the mix, having taken off all bar Euro (blue) & USD (red) we can clearly see the CCI support (white)breaking on the USD prior to the cross of the 0.0 with support (yellow) nicely holding on the Euro.
Given the new throw one on and forget about it tactics would it be fair to say we could have been in EURUSD from about 1.3000 ??
Might be worth a little short once the 150/200 levels (pink) get hit on both?
Nice topic of conversation but way past my bedtime.
Definately up for some more research tomorrow.
Adios
I don't have a sterling vs ozzie chart. somebody please tell me that on the 9th of this month there was a big - albeit short lived - move for ozzie and against the pound.
I might be getting the hang of this. Could this be a cue to get rid of charts alltogether or have I got this all tits-up ?
I don't have a sterling vs ozzie chart. somebody please tell me that on the 9th of this month there was a big - albeit short lived - move for ozzie and against the pound. I might be getting the hang of this. Could this be a cue to get rid of charts alltogether or have I got this all tits-up ?
There was only if you consider 421 pips in 8 hours a "big - albeit short lived move"
It definitely fits the criteria in my book.......
which came first?
There was only if you consider 421 pips in 8 hours a "big - albeit short lived move" It definitely fits the criteria in my book.......
Are you able to check by how much time the trend line breaks of Pimps CCI graphs preceded the 400 pip move?
I agree thats a big move. I would be very satisfied if I could have caught 25% of that.
Do you (Pimp) see a potential exit indicator out of this new cci correlator?
Certainly looks exciting potential so far, to direct us to the best looking pair / extension to trade
well done all
G'nite
Come back Endy! Give us some more info. I love the indi. . . trading the retraces of those currencies that have a (-)100 increment difference.
So far all trades are positive
Thanks again and Happy pipping!
Hi all,
I have been following this thread almost from the beginning and it gave me a lot of inspiration.
I would like to share one of them, which I was tuning in last weeks.
It should represent currency strength meter.
It shows USD, EUR, GBP, JPY, CHF, CAD and AUD currencies.
It is based on simple CCI(48). It sums up CCIs for all pairs in which given currency occures. Then it shows the strength of the currency in preview.
I started to use this as a filter in my trading beginning last 2 weeks.
See first part of the screen (each currency has its line). Note how last week JPY was really strong. So I was taking only XXXjpy shorts from all retracements and made chunk of pips.
Of course, the most pips were gathered from GBPJPY, because GBP was loosing like a hell (see black line at the bottom of last week).
I took only those signals which are in the direction of the currency strength.
This week, so far EUR is really performing well, so I long it against those currencies that are below 0 line.
So from individual currency strength meters, I made another step and measure combined strength of two currencies, which gives me picture of the given pair. See in the middle EURUSD and at the bottom GBPCHF development.
Please note, that these charts are H4 TF, so no 5m madness during days.. It saves me a lot of time and a lot of nerves and I make pips much easier.
Anyway, I am open to any comments and suggestion about this, feel free to post any questions.
thanks,endyHi Endy,
I think that this really makes a lot of sense - thanks for sharing it with us - nice coding too!
I do have one question however. I've just put your indicator onto a 4 hour chart and the date/time stamp of the last value I have on the 4 hr is 16:00 on the 11th Dec. It is now 03:12am on the 12th Dec in the UK - is there a delay with the signals?
Thanks,
Nick
Currency1 vs Currency2 indicator and some of the action from yesterday
Hi all,
had to do some socializing last night, so it took some time to get back on feet.
Anyways, here is the other part of the santa box, that currency1 vs currency2 indi (find attached).
Also, yesterday I took advantage of GBP/USD strength leaving range region (100/-100) to the up side. So GBPUSD was suppose to go up, wasn't it?
Patience was the key and I took 1/3 of long possition at 1.4880 and then one more 1/3 at 1.4861. The plan was to add the final 1/3 at the region of 50SMA on H1 at around 1.4810 (at that time). Having weekly pivot point in the way, cable was not able to move there, so I was left with only 2/3 of the long position filled.
For the exit, first target was 127% fibo, the other one 161%.
Isn't it funny how the other one got hit almost to the pip?
Please, don't take this as I'm boasting around here, this is just a short summary of optimal trade based on FX Pimps ideas and small advancments I made for myself. Feel free to ask any questions..
Regarding the best functionality of the indicators. Please don't forget it is based on H4 TF, so that means, you need to have your H4 TF data in MT in good shape. No gaps in data etc.. MT sometimes does that, if you don't have H4 TF (or any other tf) opened for long time, but had it opened before, it won't download all the data in between and things may get ugly.
The easiest way to clean up your H4 data is: switch off your MT, go to your MT directory, then history/xxx where triple-x is name of directory inside this history subdirectory (it varies from broker to broker). In my case (I use FIBO), the subdirectory goes: history/FIBO-FIBO Group MT4 Demo Server
In this directory, delete all XXXXXX240.hst files. With the new start of MT, all history files will be downloaded again.
Regarding the currency labels on currency meter (I think Honest Bill asked me this), please don't forget to shift your chart using: Properties (F8) -> Common -> tick the Chart shift option.
Please, note also, that indicator doesn't require H4 charts opened in your MT, it will download it itself. You can see after first putting of indicator to window that it dances around for some time. That's when the data is being downloaded.
Have a nice pipping,
endy
Excellent work Endy
Why do you use CCI(48) though and not pimps CCI(21)?
Just to check the process would you look at icci_sum first and based on current results long EUR, JPY and short AUD, USD then check individual crosses of these 4 and look for any leaving the +/-100 range and use limit orders to get into trades.
Thanks for the indies I will certainly do some backtesting over the w/end.
Swagman