ForexForSmarties MT4 indicators WIP : Help ! - page 2

New comment
 

When you trade the simple hedge (Index 1) of EURUSD to USDCHF, it is best to monitor the cross of EURCHF for direction. There are many posts on the web when some one asks, "Well, why not trade EURCHF, only !"...because thats not a hedge !

However things get more complex when trading the other index's. So my next tool will be one that examines the crosses of the selected index pair...watch this space.

Trade FFS requires some EAs that do other things. Now I know FFS themselves are soon to release EAs.

EAs to meet these demands

1) Placing Orders ( I hope FFS develope this one, proprietory knowledge, etc)

2) Exiting all trades on profit target or % or $$ reached for the account trading FFS.

3) Alerts ... of different types.

 

FFS have just released a press statement saying that there FFS robot EA will be out for testing in Feb 07.

Looks to be really good !

 
Stevensign:
I use IBFX, the trend indicator locks up my platform. Try the indicators, Ive attached.

The currency line indicator just puts a line graph of another currency.

Try this, put GBPUSD on chart, then drag another copy onto the first one and set it to USDCHF and invert=true and change color. Amazing!

The hedge indicator displays profit in dollars.

Both of my indicators now have corrections for missing candles, since metatrder doesn't put in a false candle if there are no ticks, this is mainly needed for 1 minute charts.

Will the currency line indicator expire?

 

NOTE : IF YOU HAVE DOWNLOAD MT4_FFS_Tools_Free_v3.zip then you have this code fix already.

**************************************************

oops..one code fix, its not a major..

in FFS_Trend..

This line

IndicatorShortName("FFS_Trend USD_Positive: RED USD_Negative: YELLOW ");

Should read..

IndicatorShortName("FFS_Trend USD_Positive: YELLOW USD_Negative: RED ");

I have the colors around the wrong way !

 

Latest Release 20070127 Ffs Tools

Please read instructions in ZIP file.

Please comment if it helps, any other ideas...

Check out FFS_Trainspotter...

READ ME FIRST..

I have nothing to do with www.forexforsmarties.com.

You use these tools at YOUR OWN RISK.

I do not endorse or sell FFS methods or products in any way.

These tools are provided FREE of charge, I wish to promote the development of MT4 tools and minds

of those who trade FFS to get the best 'How to FFS tools'. So we all can trade FFS thru easy

and tough times. As the Forex market gives and takes away fortunes ! To make 5% monthly

compounding over 10 years is not easy when the forex beast changes.

NOTE : MT4_FFS_Tools_Free_v3.zip has a quick code fix in it.

 

How's v4 coming along? Any news?

 

I'm curious... I know your tools are capable of indicating a sudden disruption of correlation after it has taken place between the hedge pairs. But, are they capable of predicting the conditions before this disruption takes place? Are there any tell tale signs that one can see? I think the latter is more important.

 

HI,

Easy crass hopper..

Predicting... no chance, all indicators are lagging. Try to use divergence, over sold etc. Use margin risk 5% to 20% depending on how comfortable you feel on each trade.

Version 4...its coming. Try to add a simple technical analysis system to avoid 900+ drawdowns. I can only do so much as I cant code in the good stuff like sup/res , elliotwave, etc.

System : CCI 5 period, below 40, price above 50 average, plus other stuff...

FFS_Trend will have a back test report on how a simple system limit drawdowns. If your trading USDCHF to EURUSD ( cross EURCHF) then my tools can be replaced by MT4 tools. But for more complex hedges my tools are better as they combine all hedge data into one data series.

use FFS_NetPipChange ( Rate of Change ) to see drawdown risk, load in periods 2 to 20... some years quite scary !

Maybe another week or two...

 

How To Guide Ffs Tools..

HOW TO GUIDE: FFS TOOLS...

The jpegs above the download link show screens setup, as do the templates in the zip file.

Timing the trade entry or adjusting risk to overbrought or oversold conditions...use

FFS_CrossMA

FFS_CrossTiming

FFS_NetPipChange

Fundamentals of the hedge

FFS_Trend_Basic

FFs_Correlation

Below are extracts from the notes in each of the mq4 files..

FFS_CrossMA

Like the FFS_Correlation tool, this is a fundamental watch. It shows the combined trend ofall the crosses related to the hedge pair in question. All cross have been adjusted to be on the same price scale and treated as equal weight.

If you wish to see the USD Dollar index select IndexType = 3, CrossORIndex = 1.

When this start getting wild so will the accounts trading FFS, and settings will have to be adjusted for survival. Use the FFS_Trainspotter (in FFS_Trend) to see FFS_NetPipChange summary to view the extremes of the net pip swings of the hedge pairs. Use the FFS_CrosssTiming to see swings and how to time overbrough conditions of these FFS index's.

USER INPUTS..

extern int IndexType = 3; // Inputs 1 to 8, FFS Index see above

extern int CrossORIndex = 0; // Inputs O or 1 , FFS Index see above

extern int SimpleMA = 50;// Inputs 20 to 400, MOving average on Index.

FFS_NetPipChange

This is like the standard 'Rate Of Change' indicator, but I have made it to include all the pairs in the hedge combination.

The standard rate of change just asks the difference between the current close and the close N periods ago. You can see that here with the RED line on the chart, Color1. This does not take into account the range from the high and low between the period of change.As forex is 24 hours, the range is more important. You may have entered your hedge at the top of the combination hedges high, and not at the combination hedges close. So close means nothing.

So per pair within the hedge combination, find the pip range from the high and low for the period, if current close is greater than close N periods ago this will be a positive move, if not it would be negative. As all pairs have been converted to the same price scale, add all the pips (high - low) ranges together to get the hedge combination NetPipChange. See Color 2, Lime line.

As a timing tool, it seams it would be best to enter the hedge position in a when this indicator is below zero (or less). Then you can catch the swing back up above zero (or more). Toggle between 2,5,10,15 and 20 periods to see pip change effect.

Caution, this is fixed period calculation, its quite possibe that there can be multiple days in a row when the peirod pip change is negative. (ie it does not return to zero immediately)

Within the FFS_Trend tool I have a placed the same code for pip change summary in the Trainspotting area in the main chart. Set you account up to withstand the worse case negative pip change. The GOOD news is that it does swing violently up and down generating plenty of room for profits. How violently will depend on the hedge combination you choose ( ie EURUSD / USDCHF is safest and boring!)

These calculations assume an equal weight between all the pairs in the

FFS hedge combination. That each pair pip value is, at best it can be, to be

of the same value.

Example...

EURUSD pip value 100k lots is $10.00

USDCHF pip value 100k lost is $7.97 ( 1/1.2532 * 10 , as at 20070127)

so 1.25 lot must be trades to equal the EURUSD $10 pip value.

USER INPUTS

extern int IndexType =3; //Inputs 1 to 8, FFS Index see above

extern int RPeriod = 5; // Inputs 2 to 30, Period of change

FFS_CrossTiming

This FFS_CrossTiming tool has a CCI (RED) and a fast( 0.5 DARKGREEN) and slow( 0.8 GREEN ) Laguerre RSI. The Laguerre RSI is very good at picking trends and has a lot of lag removed from the indicator. The fast Laguerra is a leading indicator of the slow. But decisions should be based on the slow Laguerre RSI.

Info on Laguerre RSI : https://www.mql5.com/en/forum/173021

Info on CCI: http://www.incrediblecharts.com/technical/commodity_channel_index.htm

HOW TO USE...

This indicator shows the swings from in the index selected in FFS_CrossMA. ( CrossOrIndex =0). The intention is to reduce drawdown time, by not getting in a overbrought situation.

Trend : When the GREEN line is above 60 and the DARKGREEN line is above 40. Trend is up strong. If GREEN line is moving below 60 watch out for trend changes, and deep drawdowns if you are in a current FFS position.

FFS Entry : When the CCI (5) is below the 40.

USER INPUTS

extern int IndexType = 3; // Inputs 1 to 8, FFS Index see above

extern int CCI = 5; //Inputs 3 to 8, CCI period

extern double LagGamS = 0.5; //Inputs 0.3 to 0.7, Laguerre Gamma Short

extern double LagGamL = 0.8; //Inputs 0.7 to 0.9, Laguerre Gamma Long

FFS_Trend_Basic

This is FFS_Trend and FFS_Trainspotter. As much info as I could stick in.

Places comments in the main chart, and trend of the USD positive and

negative combinations in a indicator window.

The USD trend has normalised ( ie 0 to 100 scale) data so all pairs price index are the same.

These calculations assume an equal weight between all the pairs in the

FFS hedge combination. That each pair pip value is, at best it can be, to be of the same value.

USER INPUTS

extern int IndexType = 3;//Inputs 1 to 8, FFS Index see above

extern int USDneg_Inverse = 0; //Inputs 0 to 1, Inverse the USD Negative pairs combination

extern int NetPip_RPeriod = 5; // Inputs 2 to 30, Daily change period for FFS_NetPipChange summary

extern int NoBars = 260;// Inputs 100 to 1000, 1 years trading days, just makes the chart look nice !

FFS_Correlation

This shows the correlations of the USD positive and USD Negative trends shown by FFS_Trend. Short, medium and long term correlations are shown. This is a tool to watch for fundamental changes in the hedge combination you are trading.

Using this tool with FFS_NetPipChange (period 2) you see that they are related, the FFS_NetPipChange leads the FFS_Correlation as it has a shorter time frame.

These calculations assume an equal weight between all the pairs in the

FFS hedge combination. That each pair pip value is, at best it can be,

to be of the same value.

USER INPUTS

extern int IndexType = 3; // Inputs 1 to 8, FFS Index see above

extern int Period_Short = 5; // Inputs 3 to 18, Short term correlation study

extern int Period_Medium = 25;// Inputs 18 to 50, Medium term correlation study

extern int Period_Long = 75;// Inputs 50 to 100, Long term correlation study

 

Version 4.1 released ...and FINAL

FINAL RELEASE 20070205

READ ME FIRST..PROVIDED FREE

I have nothing to do with www.forexforsmarties.com.

You use these tools at YOUR OWN RISK.

I do not endorse or sell FFS methods or products in any way.

These tools are provided FREE of charge, I wish to promote the development of MT4 tools and minds

of those who trade FFS to get the best 'How to FFS tools'. So we all can trade FFS thru easy

and tough times. As the Forex market gives and takes away fortunes ! To make 5% monthly

compounding over 10 years is not easy when the forex beast changes.

WARNING..

As the data is pulled from many symbols, these tools will slow down MT4 just a little on loading, realtime seams fine. Any CODERS want to fix this, be my guest...

INSTALLATION GUIDE

1) Close MT4,

2) Find MT4 in Windows drives ( C:\Program files\MT4 etc)

3) Load the mq4 files into the ..\experts\indicators\.. folder.

4) Load the tpl files into the ..\templates\.. folder.

5) Open MT4

6) Open the Meta editor from the main screen ( F4)

7) Goto to Indicators folder, open each mq4 file in ( the ones from the zip).

8) Compile them (F5)

9) Read my notes.

10) Close MetaEditor

11) Goto Main MT4 screen. Read next part on installing templates.

CHART:

Note: This will be slow, be patient..wait for data to load.

A) Create two EURUSD Charts in DAILY mode.

B) Charts > Templates > Load Templates...

>> On one chart install template : ffs_trainspotting.tpl

>> On the other chart install template : ffs_timing.tpl

INTERBANKFX MINI ACCOUNTS

InterBankFx Mini Accounts, easy setup...In each of the FFS mq4 files change the

symbol format

Find this code...at the top of each FFS mq4 file

//SYMBOLS for Interbankfx Mini account change EURUSD to EURUSDm

string sEURUSD = "EURUSD";

string sGBPUSD = "GBPUSD";

etc

Change it to this for IBFX mini account.

string sEURUSD = "EURUSDm";

string sGBPUSD = "GBPUSDm";

etc

Then compile mq4 file...

cheers ...

12
New comment
Reason: