How I use market profile and also the Fx-Index Dashboard to select currency pairs for trade - General

lodol2 2009.03.03 12:55 #41

hi

if you can read

you can also see the template

regards

alcastillo 2009.03.03 14:43 #42

Pierce:
Which indicators are necessary to have a chart like you, is there a template for this?

Hello,

I'll be back later today to post some examples of how I use market profile and also the Fx-Index Dashboard to select currency pairs to trade. I'm a bit busy at this moment.Talk to you soon.

Al

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lodol2 2009.03.03 16:28 #43

heatmap

hi tone40@inbox.com

chris wrote once"Now everytime you make a trade to buy or sell the (eur/usd) that is now the wheel barrow, For an example if you buy the eur because it is moving up and the stochastics and all other indicators say now is the moment... so you buy.. But what you don't know is this just one person pushing or two people or has one of them already just jumped to ride the rest of the way at that moment also.

If you are lucky and both people are pushing, then it is going to the top easily and quickly, if only one is pushing it may be slowly and if one is riding maybe not all and may even stop or roll back down the hill.

This is happening every time you make any trade regardless of what any indicator or indicators or settings or timeframes are saying is the right moment to make the trade. So before you take any trade wouldn't you like to now this : is both eur and the usd moving together in the direction of your trade to help you get there sooner and quicker? Because if they are, your stochastis or other indicator is now become that magic indicator or setting or timeframe and you have found you "holy grail" because it worked. When in reality there was no magic or wonderful indicator but the move was happening because of the momentium of one or both parts of the eur/usd.

The bottom line there is special software and data feeds and a few other ways to to determine this before entering a trade.They can break the eur/usd down into each individual part and measure its exact momentium of each part and watch all this in 10tic, 1 min, 5 min, 1 hour, 4 hour or any timeframe that you want to trade in and see when to enter and exit trades at the correct moment that will work every time, day in and out without trying to come up with the magical settings and timeframes to use with lagging indicators that at the best follow the last price bar timeframe."

so he break eur/usd

in each seperate currency and measure momentum of each...

in his charts you can see that on "fxleverage" they have eur in all timeframes

and usd in all timeframes............

is it possible to do somethinglike this with your indicators?

thanks for replay

lodol

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lodol2 2009.03.03 16:29 #44

hi

hi sample chart from harry

Files:

friday_10-3-08.zip 92 kb

alcastillo 2009.03.03 16:51 #45

lodol2:
hi tone40@inbox.com

chris wrote once"Now everytime you make a trade to buy or sell the (eur/usd) that is now the wheel barrow, For an example if you buy the eur because it is moving up and the stochastics and all other indicators say now is the moment... so you buy.. But what you don't know is this just one person pushing or two people or has one of them already just jumped to ride the rest of the way at that moment also.

If you are lucky and both people are pushing, then it is going to the top easily and quickly, if only one is pushing it may be slowly and if one is riding maybe not all and may even stop or roll back down the hill.

This is happening every time you make any trade regardless of what any indicator or indicators or settings or timeframes are saying is the right moment to make the trade. So before you take any trade wouldn't you like to now this : is both eur and the usd moving together in the direction of your trade to help you get there sooner and quicker? Because if they are, your stochastis or other indicator is now become that magic indicator or setting or timeframe and you have found you "holy grail" because it worked. When in reality there was no magic or wonderful indicator but the move was happening because of the momentium of one or both parts of the eur/usd.

The bottom line there is special software and data feeds and a few other ways to to determine this before entering a trade.They can break the eur/usd down into each individual part and measure its exact momentium of each part and watch all this in 10tic, 1 min, 5 min, 1 hour, 4 hour or any timeframe that you want to trade in and see when to enter and exit trades at the correct moment that will work every time, day in and out without trying to come up with the magical settings and timeframes to use with lagging indicators that at the best follow the last price bar timeframe."

so he break eur/usd

in each seperate currency and measure momentum of each...

in his charts you can see that on "fxleverage" they have eur in all timeframes

and usd in all timeframes............

is it possible to do somethinglike this with your indicators?

thanks for replay

lodol

Wow, Chris,

Long time since I heard of him, nice to know they keep making improvements.

send me some more examples of what you say, its been a long time since I was in Topgun, send me some charts of something, I will go and see leveragefx.com and see if he posted something about this. sounds interesting. I will look into it.

Al

Searching for market patterns Indicators: Smart Lines Big changes for MT4,

alcastillo 2009.03.03 16:58 #46

lodol2:
hi sample chart from harry

Ohhh yeah, I see what he is trying to do, I do have something similar, and I guess with some time, I can set up the same thing as it shows in the picture. I already use four timeframes and call this my FX Index dashboard.

and it looks like this:

Files:

fxindex-dashboard.gif 58 kb

Indicators with alerts/signal FOREX - Trends, forecasts Does anyone have a

lodol2 2009.03.03 17:32 #47

hi

hi right this looks quite similar....

can you post the indicators for this dashboard?

thanks

lodol

Linuxser 2009.03.04 00:02 #48

lodol2:
hi right this looks quite similar....

can you post the indicators for this dashboard?

thanks

lodol

Some links:

https://www.mql5.com/en/forum/178015

https://www.mql5.com/en/forum/178634

alcastillo 2009.03.04 08:08 #49

lodol2:
hi right this looks quite similar....

can you post the indicators for this dashboard?

thanks

lodol

Hello Lodol,

Here are the indicators and templates you can use for the dashboard. Also i made a template similar like the photo you sent me, from Top gun. I used that software that's why I got that idea.

For the dashboard Im posting the indicators here. For the other template, the indicators are already included on page 4 of this thread. They are called Index secondary bull,index secondary bear, index base bull , etc.

DASHBOARD

Currency strength order and color interpretation:

USD :12,36,144,288 period (On 5 minutes, equals to 60m,180m,720m,1440m).

EUR: "

GBP:"

NZD:"

AUD:"

CHF:"

CAD:"

JPY:"

ON DASHBOARD YOU SEE RAW STRENGTH OF EACH CURRENCY (NOT CURRENCY PAIR) SO, EXAMPLE USD IS GREEN, IT MEANS US DOLLAR AS CURRENCY OF USA, IT IS STRONG, IT GOING UP AGAINST OTHER CURRENCIES. IT DOESNT MEAN ANYTHING ELSE.

IF JPY IS RED, IT MEANS THE YEN AS CURRENCY OF JAPAN, IS FALLING AGAINST OTHER RELATED CURRENCIES, AND THEREFORE YEN IS WEAK. THATS ALL IT MEANS.

"A-PAIR-FX-INDEX" TEMPLATE

NOW, TEMPLATE "A-PAIR-FX-INDEX" IS AND ADJUSTMENT OF THIS INFORMATION ADAPTED TO THE CHART BEING TRADED, EJ: IF YOU TRADE USDJPY CHART WITH THIS TEMPLATE AND YOU SEE THE DASHBOARD THAT THE USD IS STRONG AND THE JPY IS WEAK (THATS WHAT YOU LOOK FOR) THEN YOU WILL SEE YOUR USDJPY CHART SHOWING ALL GREEN!! MEANING THE STRENGTH OF USD WILL MAKE USDJPY GO UP AND THE WEAKNESS OF THE JPY WILL ALSO MAKE USDJPY GO UP, SO , ALL IS GREEN.

THE GROUP OF COLOR ON TOP ALWAYS IS SHOWING THE WEAKNESS OR STRENGTH OF THE SECONDARY CURRENCY EJ: ON USDJPY IT SHOWS THE JPY FIRST. PERIODS ARE THE SAME BUT INCLUDING 864 = 4320M OR 3 DAYS.

SECOND GROUP SHOWS THE BASE CURRENCY ,EJ: ON USDJPY IT SHOWS THE STRENGTH OF USD.

BOTTOM GROUP OF COLORS SHOWS THE TOTAL STREGTH OF COMBINED FORCES. CALCULATION IS (BASE+SECONDARY/2)

IF YOU PLAN TO ENTER A TRADE BASE ON YOUR OWN OTHER STRATEGY, YOU DO WANT TO ENTER ON A PAIR SHOWING ALL GREEN OR ALL RED ON THIS TEMPLATE, WHICH WILL INDICATE YOU ARE PLANING TO BUY A STRONG CURRENCY VS A WEAK ONE OR VICE VERSE .

IF YOU WANT TO MAKE YOUR OWN TEMPLATES: INSTALL FIRT THE INDICATOR THAT SAYS BULL, THEN ON TOP OF IT INSTALL THE ONE THAT SAYS BEAR. AND ALSO ADJUST COLOR SENSITIVITY BY TAKING MY TEMPLATE AS REFERENCE.

THANKS,

AL

PD: I WILL POST SOME CHARTS AND HOW I USE MARKET PROFILE AND FX INDEX WITH OTHER TOOLS TO TRADE SO TO ANSWER SOME QUESTION I HAVE ON PENDING. JUST BE PATIENT. LOL HAVE A NICE PIPS HUNT DAY!!!

Files:

a-pair-fx-index.tpl 32 kb

thermofx-mtf.tpl 63 kb

index--bull.ex4 13 kb

index--bear.ex4 13 kb

a-pair-fx-index.gif 106 kb

FX Correlations SCRIPT Challenge :) Cross-Currency Strength

lodol2 2009.03.04 11:54 #50

hi

hello my friend

thanks for quick answer and indicators...

so i studied now this.....

template:fx dashboard

I put the dashboard on and scrolled back to the 3 oct 2008 like on the picture i send you....but the history of the indicator on 5 minute chart shows not so far back so i couldnt compare your setting to the one on the foto....

but ok lets the deshboard shows only the strength of each currency...

i put on the five minute chart right?

how you measure the strength of each currency? is this indicator(rsi/adx??)

ok so lets say we see the same as on the foto.....

strength of usd strength of eur strength of jpy on all this timeframes....great

i think on the foto he has reversed the eur signal because he trade when all show the same direction......

this is not the case in your index indicators....if usd show green it shows strong usd

if eur shows weak it shows weak euro..................right or?

but this would be no problem if we want to have both green i only have to invert fase to true in the index indicator right?

ok so we would have the first two rows like in the picture....

we can see the strength of each currency on different timeframes..

A-PAIR-FX-INDEX" TEMPLATE

ok on this template we see seperate the second pair on top

example eur/usd

we see usd................but this usd is not the same like in the dashboard right?

its usd compared to all other currencies (EUR,JPY,GBP,chf,cad..) right or?

then we see base currency

in our case EUR (again not the strength of the currency its compared to JPY,GBP,chf,cad)

and then we see total of it in the last row......

if you now look at the picture i sent you see mutimap(EUR/USD) all timeframes...

So question: is your total strength (the last row in

A-PAIR-FX-INDEX" TEMPLATE) the same as this mutimap(rur/usd) on the picture from tg software?

we dont know or?

because i think the mutimap of tg is the same like your total strength of for instance EUR/USD.....at least as i understand it..

summary:

as i understand it we have with the dashboard template the first two rows on the picture

and with the total strength (apairfxtemplate) we have the last row of the picture......

please correct me ?

i hope i dont get lost in this post

tanks for your awsome work

regards lodol

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