Forex club sentiment index

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Hi all,

I came across a book by Alexander Elder 'entries a exits' where a forex fund manager shows an example of trading with a single indicator calles forex club sentiment index or FCSI . The FSCI shows the overbought and oversold conditions in the market and he trades it accordingly.

I was wondering whether anybody has developed a system based on this?

 
kkeskar92:
Hi all,

I came across a book by Alexander Elder 'entries a exits' where a forex fund manager shows an example of trading with a single indicator calles forex club sentiment index or FCSI . The FSCI shows the overbought and oversold conditions in the market and he trades it accordingly.

I was wondering whether anybody has developed a system based on this?

The indicator actually works, somebody told me.

I read his book. It says that it goes againts the crowd.

very smart.

I just never could've found it on the interent.

 
John27:
The indicator actually works, somebody told me.

I read his book. It says that it goes againts the crowd.

very smart.

I just never could've found it on the interent.

Or where can I buy the book & indicater ? ?

 
salohang:
Or where can I buy the book & indicater ? ?

I've heard that the indicator is in http://www.fxclub.com

But it's in the russian language, I can't read that.

I'm not sure where You can get the book, becuase I read mine in a book store.

 

Hi,

Thanks for the reply. I have been searching for the indicator but could not get it.

Well, have you heard of yourbooklib.com?

I am trying to post one of the trades described in that book.----KK

Files:
fcsi.pdf  600 kb
 

Would anybody please be so kind and make the FCSI into mq4 file please?

 

wow I am 2 years late on this post. lol so anyone made a bot out of it? but can anyone tell me what is the position in the formula obtained?

 

Ran into this thread by accident and saw that it was not answered

The reason is simple - formula of the indicator is the following :

Neither the number of long positions nor the total number of all positions is available without real volumes information, and even then it would show only the positions of the particular broker. We could treat it as a representative sample, but that could lead to a great mistake (depends how "representative" the sample on some broker actually is). So, it is probably used by the brokers themselves (they do have the volumes data information all the time) but for normal metatrader users it is not possible to make the indicator

Files:
fcsi.gif  28 kb
 

We are never going to see the volumes. You have to pay for that separately and metatrader brokers do not do that (at least the ones I know of)

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