[Archive!] WRITING A COUNTRY TOGETHER!!! - page 11
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Just thought I'd drop a picture off
>> maybe you'll get some ideas.
Can you show me the picture on the daily EURUSD, I didn't understand the indicator at first, now I understand what you were hinting at...
Is the topic closed for discussion?
Also, are the horizontal lines there really "0" or just very small values? Great indicator for detecting a flat/break!!! I like it :)
I'll post the indicator tonight. >>Maybe somebody could use it.
" ... - The idea itself fully satisfies the condition EUR+USD+GBP+JPY=0" As everyone here has already understood the expression is not literal, but I don't get it, what do the summands mean?
" ... - It's just an index that calculates the strength of one currency against another. " Is that what they are?
The formulas in the indicator use the betting values of their averages, what does that have to do with the strength of currencies then?
One last thing: any (or almost) indicator would work if it was able to separate the proverbial fracture from the ever-present fluctuations. How do you predict to do that with your currency strengths?
On the picture the indicator shows the reversal on July 8 at 17-40, the same time as on the chart, and the trend that started after that - how will you determine it? Where is the entry point?
Indicator
One last thing: any (or almost) indicator would work if it was able to separate the proverbial break from the ever-present fluctuations. How do you predict to do that with your currency forces?
On the picture the indicator shows the reversal on July 8 at 17-40, the same time as on the chart, and the trend that started after that - how will you determine it? Where is the entry point?
You can find the entry point by any other means, including indexers, oscillators etc. With this one I just wanted to identify the weakest currency as well as the strongest and at this moment apply all my favourite (everyone has his own) methods of entry/exit. I.e. to filter the signals... why for example sell a pair if you even got a sell signal against the strongest currency at the moment, although maybe this variant was better... (I tried it, I just offered it as an option to try it but I didn't insist on it, I have about a dozen of them on this indicator, I just thought maybe somebody else would like to use this method for their own TS.
Indicator
By the way, great indicator, but I liked the second version more, it is less contrived and more visually clear (but this is only for me). I do not use it in any of my TS, but it is a pity! Victor, you gave a great idea! The algorithm of the indicator is similar to the algorithm of the daylight saving time. I've given up breakdowns for the time being, they may indeed lead to large drawdowns. I've shifted to H6 with floating ... I.e. virtual H6 (session) gradually moving together with the chart forming just one candle. If something good comes out of it, I will surely share it with you. You can't imagine how I worked before, when I tried to determine the maximal price of the last 24 bars... I did it using for() loop, setting variable to new high and calculating maximal variable, but it turned out to be so simple )))
You learn a lesson, you die a fool.)
" ... - The idea itself fully satisfies the condition EUR+USD+GBP+JPY=0".
As everyone here already understood the expression is not literal, but I don't understand what do the summands mean?
" ... - Just an index that calculates the strength of one currency against another."
Is that them? The formulas of the indicator use the betting values of their averages, what does this have to do with the strength of currencies then?
Yes, that's what they are (the summands). If you add up all 4 lines, you get a straight line with zero ordinate. As for the word "force", I don't like it myself, I'd be happy to change it to any other word... but I can't think of anything.
OK, I can see where you got the formula and the terms "strength" from: your assumption is that the market is in an equilibrium state and if there is a gain somewhere, there is a loss somewhere. I agree, I'm of that opinion too.
But, (sorry, I am slow) tell me, what principle you use in your method to calculate these "forces" (by the way, the "force" is not a currency, but a pair).
And how will you select the "strong" pair? when its line is higher than all of them? by absolute value? when it exceeds a certain threshold?
Sorry again, now for the nerdiness ;-) It's just that I created such an indicator, I calculated it my own way, but I failed to draw any logical conclusions.