iFXSI (indicator: ForexSuperInvestor) is a combo indicator that uses Coloured Woodie's CCI, iTrend, ADX, and ZeroLagStochastics to generate buy and sell signals.
Basically, a signal is generated when the white line in CCI crosses zero and one, two or all three (you set the paramters) of the other indicators cross on the same candle or within one candle of the CCI cross.
I had this indicator and the accompanying expert commissioned by a professional MT programmer and have had some luck trading it manually on 1 hour and 4 hour charts. However, it has not particularly backtested well so it still needs some improvement before it could be used for auto trading.
My intention with it was to provide me an indicator that could be used for some swing type trades (hours to days)...but I've mostly traded it with short-term trades lasting minutes not hours. On these short trades I've had no losses. The last two signals on the GBP hour chart could have produced some decent returns if they had been let run a little longer.
The Expert (eFXSI) provides audible and popup alert warning and draws the entry and stop loss lines. The parameters in iFXSI and eFXSI have to be set exactly the same for them to work properly together. See the installation instructions for most questions. If you have any other questions feel free to email me. (Note that I'm not the programmer so specific programming related questions will be difficult for me to answer...the idea behind the indicator is mine so I can discuss that more easily)
I'm looking for additional feedback and possible improvements to the system if it's viable.
Very interesting template, thanks
And how to work with this template? Sorry do not speak english at all...
Anyone but me have difficulty with that last post?
No more problem with the last post since being translated... thanks.
It seems a russian user.
Perhaps newdigital, can tell us ... what this user tells.
I'm really interested in test thist indicator, next week (I will be out of office up to wenesday).
I translated. I am writing few rules for the people who have difficulties with english.
Will post now here.
I want to say the following.
People who do not feel to be comfortable with english may use machine translation:
http://www.promt.ru (russian interface)
http://www.e-promt.com/en/ (english interface)
http://www.promt.de/ (german interface)
http://babelfish.altavista.com/ (english interface)
or choose the interface of http://www.altavista.com according to the country http://www.altavista.com/?phcountry=k
First what necessary to do:
1. Change coding in IE to western ISO for example.
2. Use english letters only.
3. Use machine translation to post here. If somebody does not want or does not know how to use just type in Roman letters only in your language. Otherwise we can not translate and will delete message. No Russian, Chinese etc letters will be here. Good or bad english - does not matter. We will understand anything.
I think it is just few rules which all the people who do not feel comfortable with English language may use.
Thanks for the help. Really interesting temlete. All of the successful tenders!
NewDigital... thanks for the help and outlines. You're right good English, Bad English doesn't matter...we can muddle through as long as there is some basic communication.
The zip file includes iTrend, ADX, ZeroLagStochastics (with a fix so its different than other ZLS found on the web), Coloured Woodie's CCI and iFXSI. iFXSI uses the other four to generate buy and sell signals. (The indicators go in the Metatrader/Experts/Indicator folder) See installation instruction document enclosed as well)
There is also an Expert Advisor (eFXSI) in the zip file that can be used to generate popup and sound alerts and trade automatically if you wish (please demo and test before doing so as I don't believe it's ready for auto trading yet)... The EA does not need the other indicators to be put on the charts in order to work. However, if you do use both the iFXSI and eFXSI the user parameters have to be set to the same settings. (The eFXSI EA goes in the Metatrader/Experts folder) Be sure to check mark "allow live trading" to get the smiley face indicating the expert is working properly.
The template belongs in the Metrader/Experts/Templates folder and is simply the way I set up my charts. If you have all the indicators in the program, you semply have to select "New Charts" then Select the "iFXSI template" and the chart will be setup for you to the defaults.
No pretension here that this is a "be-all, end-all" indicator or expert... but I do think it has some decent potential. Especially if a better programmer than I takes a look at it for improvements or changes that will increase its usefulness.
If you have any questions don't hesitate to ask, whether English is your primary language or not..
Expert Advisor (eFXSI)
While I started this discussion in the MT4 indicators thread, I wanted to make sure everyone knew that the iFXSI.zip file contained an Expert Advisor (called eFXSI) too...
Looking forward to feedback on how this indicator and EA might be improved.
BTW... the last two signals on the EURO hourly chart would have been pretty profitable.
I have been using WoodiesCCI for some time and this related ifxsi is a good add on...it seems to work best in the longer time frames esp H4 (good 300+ pip trade on last sell sig using 50 pip trailing stop) BUT....it needs some sort of alarm/alert or u will grow old waiting for the next sig!!! Anyone wirking on that?
Thanks for your input
The expert advisor (eFXSI) that is included in the zip file includes an alert/alarm. It produces both an audible (sound) and a pop-up window alert when a signal is generated.
I agree re the time frames. I have it set on a few 1 hour charts and 4 hour charts as it does seem to work better there. It doesn't produce signals often but can catch some very large moves. But you're right... the signals come so infrequently that you might die of boredom before catching that next big move...
I trade 15 minute charts using another system. iFXSI was developed to allow me to stay in some trades longer and catch more pips. I think it has some potential as is, but could probably be tweaked by a better programmer than me to be even better.
Let me know if you can't figure out the alerts that come with it...