Forex strengthmeters - the basics

re NVP's FXCorrelator indi

if you place horizontal or diagonal lines on this indi,
they will be deleted when either the time-frame of the chart is changed or MT4/ PC is turned off then on again

does anyone know why this occurs? or have a fix?

thanks
 
How do you change the moving average to 500 and to 50 - is that the PerAvr setting in the indicator?
 
James Austin said:
re NVP's FXCorrelator indi

if you place horizontal or diagonal lines on this indi,
they will be deleted when either the time-frame of the chart is changed or MT4/ PC is turned off then on again

does anyone know why this occurs? or have a fix?

thanks
Click to expand...

yep I get this ..........Jedster may have a solution but I havnt - sorry dude

N
 
apologies for any delayed messages - I am on vacation for next 2 weeks

N
 
NVP said:
yep I get this ..........Jedster may have a solution but I havnt - sorry dude

N
Click to expand...

Yes...it is because of this line in the deinit function:

Code: 
ObjectsDeleteAll(WindowFind(ShortName));

Indicators should always clean up any objects they create when they are removed form the charts. One way is by using the DeleteAll function, but unfortunately it (the indicator) assumes that any objects that are placed on that indicator are "owned" by the indicator, including any manually added lines.

To fix this, replace the init function with something that enumerates all the objects on the chart, removing only the ones that the indicator added. That way, user added objects should be left on the chart just fine when MT4 restarts.

J
 
Guys already posted this in the other NVP's thread, hope to find help from here too.
Don't know if somebody already asked this but i didn't found anything using the search option in the top of the page, maybe wrong keywords?
Anyway i wanted to ask if it's possible to have more history data and look more in the past while using NVP.
Using this on M5 charts allow me to see just like 20 days of NVP instead the bar in the charts are much much more..

Thanks
 
Wish list

Neil,
I like the idea with FXCORRELATOR_NewCurrencyChartMeter as a base currency USD where you can change time frames and currencies and the highlight remains. Is there any with the same concept for the next most traded currencies as base currencies EUR, GBP ,
I know there are for particular pairs USD/JPY, Dow/USD and Gold/USD

Next most traded are EUR and GPB
United States United States dollar
1. USD ($) - 84.9%
2. EUR (€) - 39.1%
3.JPY (¥) - 19.0% is not base currency
4.GBP (£) - 12.9%
5.AUD ($) - 7.6%
6.CHF (Fr) - 6.4%
7.CAD ($) - 5.3%
Thank you
Eyasu
 
Hi NVP,

As a n00bian I found your introduction utube video super useful for understanding this indicator/subject, I hope it's still applicable.

It says 'buy' those above the line because the currency is STRONG, and 'sell' those below the line because the currency is WEAK. Can you give some more information/clarity on the following scenarios pretty please.

1) What if the 'wanting to buy currency' above the line is moving down towards the 0 line, and the 'wanting to sell currency' below the line is moving up to the 0 line?
2) What if the 'wanting to buy currency' above the line is moving up further from the 0 line, and the 'wanting to sell currency' below the line is moving down further from the 0 line? (obviously the best trade i would say/guess).
3) What if the 'wanting to buy currency' above the line is moving down towards the 0 line, and the 'wanting to sell' currency below the line is moving down further from the 0 line?
4) what if the 'wanting to buy' currency above the line is moving up further from the 0 line, and the 'wanting to sell' currency below the line is up towards the 0 line?

(same answer as 3 i would say as Relative Strength remains still).

I have a little idea on these scenarios, but would love to hear how you would word and explain it. Thanks so much for your time on this thread, and if i am jumping te gun, obviously continue at your pace of teaching this subject/indicator.

hyb
 
LittleTrader93 said:
Guys already posted this in the other NVP's thread, hope to find help from here too.
Don't know if somebody already asked this but i didn't found anything using the search option in the top of the page, maybe wrong keywords?
Anyway i wanted to ask if it's possible to have more history data and look more in the past while using NVP.
Using this on M5 charts allow me to see just like 20 days of NVP instead the bar in the charts are much much more..

Thanks
Click to expand...

see the other thread re response .....(y)
 
eyasu said:
Wish list

Neil,
I like the idea with FXCORRELATOR_NewCurrencyChartMeter as a base currency USD where you can change time frames and currencies and the highlight remains. Is there any with the same concept for the next most traded currencies as base currencies EUR, GBP ,
I know there are for particular pairs USD/JPY, Dow/USD and Gold/USD

Next most traded are EUR and GPB
United States United States dollar
1. USD ($) - 84.9%
2. EUR (€) - 39.1%
3.JPY (¥) - 19.0% is not base currency
4.GBP (£) - 12.9%
5.AUD ($) - 7.6%
6.CHF (Fr) - 6.4%
7.CAD ($) - 5.3%
Thank you
Eyasu
Click to expand...

hey E

sorry dude but this doesnt add up to 100% ??.I think i know what you are saying though

my Vague recollection tell me that the USD is in about 80% of all pairs traded ....then the Euro (excluding stuff like the chinese etc etc )

and I think the E/U is th etop traded pair in the world (?)

N
 
hybrid said:
Hi NVP,

As a n00bian I found your introduction utube video super useful for understanding this indicator/subject, I hope it's still applicable.

It says 'buy' those above the line because the currency is STRONG, and 'sell' those below the line because the currency is WEAK. Can you give some more information/clarity on the following scenarios pretty please.

ALL CORRECT ABOVE (y)

1) What if the 'wanting to buy currency' above the line is moving down towards the 0 line, and the 'wanting to sell currency' below the line is moving up to the 0 line?

ONLY TRADE DIVERGING CURRENCIES FROM THE ZERO (up and down)......CONVERGING CURRENCIES ARE WEAKENING IN STRENGTH so dont enter on that signal....:cool:

2) What if the 'wanting to buy currency' above the line is moving up further from the 0 line, and the 'wanting to sell currency' below the line is moving down further from the 0 line? (obviously the best trade i would say/guess).

100% PRIMO TRADE SIGNAL ....both DIVERGING CURRENCIES (y)

3) What if the 'wanting to buy currency' above the line is moving down towards the 0 line, and the 'wanting to sell' currency below the line is moving down further from the 0 line?

TRY TO ALWAYS TRADE 2 DIVERGING CURRENCIES ....this is 50% ok :sneaky:

4) what if the 'wanting to buy' currency above the line is moving up further from the 0 line, and the 'wanting to sell' currency below the line is up towards the 0 line?

AS ABOVE .....only 50% ok :sneaky:

(same answer as 3 i would say as Relative Strength remains still).

I have a little idea on these scenarios, but would love to hear how you would word and explain it. Thanks so much for your time on this thread, and if i am jumping te gun, obviously continue at your pace of teaching this subject/indicator.

POST THEM HERE AND WE CAN PLAY WITH THEM :smart:

hyb
Click to expand...

hey h

see comments in above .........I will be covering this soon in the new Strengthmeter thread I am running :smart:
 
NVP said:
see the other thread re response .....(y)
Click to expand...

Where is the 'other' thread NVP? The old one in your footer (the 1494 page one)?

NVP said:
hey h
see comments in above .........I will be covering this soon in the new Strengthmeter thread I am running :smart:
Click to expand...

Where is the new thread? I thought that this thread here was the new thread?


*joke* maybe we get to jump around threads and sites until only a few remain, then we are intiated into the secret goodies of the masonic FXcorrellator indicator.
 
NVP said:
hey E

sorry dude but this doesnt add up to 100% ??.I think i know what you are saying though

my Vague recollection tell me that the USD is in about 80% of all pairs traded ....then the Euro (excluding stuff like the chinese etc etc )

and I think the E/U is th etop traded pair in the world (?)

N
Click to expand...

Neil,
I got it from this link and it is actually in terms of values traded for 15 currencies on 200% basis. http://en.wikipedia.org/wiki/Template:Most_traded_currencies

What I was asking was I want the bold highlight to stay when I change time frames and currency pair as in FXCORRELATOR_BASIC_FREE_VERSION_2013, when you change usd/xxx basis pairs currency and time frames. I want for the next traded all pairs of EUR/xxx and GBP/xxx, that way I can flip from one to the other without manually color bold for each pair. I see it for gold, when changing TF the bold highlight remains, FXCORRELATOR_Goldmeter_V2.
It is because I find it interesting using the 500 and 50 MA configuration you showed us for emerging market, for reversal and for retracement for many pairs. I start using with conjuaction of 20MA for counter trend too.
Example of use
GBP/USD was long for a long time and reversal starts at the first magenta and ends at the second magenta. How do I know? 500 ma tells me. I trade with the trend at the cross section of the pair using 50ma and I exit at 20ma. If I want to, I trade counter trend using 20ma for quick scalp.
In order to scan this I am looking alternatives instead of highlighting (Bold) manually. This is what I meant. Thank you neil.
Eyasu
 

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eyasu said:
Neil,
I got it from this link and it is actually in terms of values traded for 15 currencies on 200% basis. http://en.wikipedia.org/wiki/Template:Most_traded_currencies

What I was asking was I want the bold highlight to stay when I change time frames and currency pair as in FXCORRELATOR_BASIC_FREE_VERSION_2013, when you change usd/xxx basis pairs currency and time frames. I want for the next traded all pairs of EUR/xxx and GBP/xxx, that way I can flip from one to the other without manually color bold for each pair. I see it for gold, when changing TF the bold highlight remains, FXCORRELATOR_Goldmeter_V2.
It is because I find it interesting using the 500 and 50 MA configuration you showed us for emerging market, for reversal and for retracement for many pairs. I start using with conjuaction of 20MA for counter trend too.
Example of use
GBP/USD was long for a long time and reversal starts at the first magenta and ends at the second magenta. How do I know? 500 ma tells me. I trade with the trend at the cross section of the pair using 50ma and I exit at 20ma. If I want to, I trade counter trend using 20ma for quick scalp.
In order to scan this I am looking alternatives instead of highlighting (Bold) manually. This is what I meant. Thank you neil.
Eyasu
Click to expand...

HI,

Apologies, but I found what you were saying a little hard to read. Are you saying you want to put the indicator on the chart and have it highlight in bold the 2 currencies (say GBP and USD on a GBPUSD chart), and then if you switch to a USDJPY chart, it is the JPY that is then bold instead of the GBP currency?

If that is what you are asking for, then you would need to add some logic into the init function of the indicator that detected which currency pair was on the chart, broke it into the two constituent currencies, and then use the SetIndexStyle method to change the style for the appropriate index, so set that line was bold.

This isn't especially difficult to do, but probably isn't what everyone would want to see, which is perhaps why it doesn't do it at the moment. Why don't you have a go at modifying the indicator to make this change?

The following line of code will set EUR to bold:

SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,3);

The zero is the index for EUR, change it for the appropriate currency, 1 = GBP, 2 = AUD, and so on. If you look in the code, you should see quite obviously what all the currency/indexes are.

J
 
Jedster2001 said:
HI,

Apologies, but I found what you were saying a little hard to read. Are you saying you want to put the indicator on the chart and have it highlight in bold the 2 currencies (say GBP and USD on a GBPUSD chart), and then if you switch to a USDJPY chart, it is the JPY that is then bold instead of the GBP currency?

If that is what you are asking for, then you would need to add some logic into the init function of the indicator that detected which currency pair was on the chart, broke it into the two constituent currencies, and then use the SetIndexStyle method to change the style for the appropriate index, so set that line was bold.

This isn't especially difficult to do, but probably isn't what everyone would want to see, which is perhaps why it doesn't do it at the moment. Why don't you have a go at modifying the indicator to make this change?

The following line of code will set EUR to bold:

SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,3);

The zero is the index for EUR, change it for the appropriate currency, 1 = GBP, 2 = AUD, and so on. If you look in the code, you should see quite obviously what all the currency/indexes are.

J
Click to expand...
Jedster,
Thank you. I apologize for the awkward English writing. Yes that is what I mean. for example for GBP base currency, GBP/USD, GBP/CAD, GBP/JPY and for EUR, EUR/USD, EUR/JPY, EUR/GBP ...etc. I want the currency pair (Both bold) highlighted when I change a particular pair and when I change from time frame to Time frame. Is it clear? The code you mentioned above seems the solution. Do I have to do for each pair (say if I have to do for all 28 pairs) one by one. This means I will have 28 separate ex4. Is it possible to group them as I want to easily scan with base currency. Thank you once again.
Eyasu
 
Last edited:
eyasu said:
The code you mentioned above seems the solution. Do I have to do for each pair (say if I have to do for all 28 pairs) one by one. This means I will have 28 separate ex4. Is it possible to group them as I want to easily scan with base currency. Thank you once again.
Eyasu
Click to expand...

No, you don't need 28 indicators. Apologies in advance for the non technical :eek: , I appreciate that NVP wants to keep this thread simple... you just detect in the init function which 2 currencies are being used on the pair chart, and then ensure those are the bold ones.
Code: 
string ccy1 = StringSubstr(Symbol(), 0, 3);
if (ccy1 == "EUR")
    SetIndexStyle(0,DRAW_LINE,STYLE_SOLID,3);
else if (ccy1 == "GBP")
    SetIndexStyle(1,DRAW_LINE,STYLE_SOLID,3);
etc...
and repeat for the 2nd ccy

But, you are kind of moving away from the point. One of the points of the strength meter is that you don't want, or need, to have lots of pair charts up. In fact, you don't really need any chart. The strength meter will allow you to see the strength and weakness of all currencies, relative to each other. NVP hasn't quite covered that yet, but he will... :cool:

J
 
But, you are kind of moving away from the point. One of the points of the strength meter is that you don't want, or need, to have lots of pair charts up. In fact, you don't really need any chart. The strength meter will allow you to see the strength and weakness of all currencies, relative to each other. NVP hasn't quite covered that yet, but he will... :cool:

J[/QUOTE]

Jedster,
I can understand I am jumping around. I will stick with the theme of the thread. I was a kind of excited when I clearly detect the trend and possible breakout reversals from the 500ma index and detect possible retracements from the 50ma. I was looking for the crossover of the pairs instead of one currency index crossing the 0 line. Any way I will use the code you gave me for my temporary use and stick around with the theme of the thread. Thank you for your kind wisdom.
Eyasu
 
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