the idea of system is not new but...
best time frame is 1m or 5m maybe 15m
choose 3 or 4 pair. (use eu, gu, au, nu)
once all 3 or 4 pair heading same direction, then it show how strong or weak usd is.
I using nonlag ma. I hope programmer can help me to put the nonlag ma like 4tf indicator, but for 4 pair. If possible alert would be nice.
note: good for major news.
Yes, the idea is good one.
I am using it for trading.
But the problem is the following:
how can we can know that all the pairs started some trend and will continue it?
it may be opposite direction too ... for example EURUSD and USDCHF, and this EURUSD starts to move first compare with USDCHF in most of the time. So, not all the pair will start simultanious movement. Same with EURUSD and GBPUSD.
To catch this simultanious movement of many pairs on the same time (any direction but simultanious movement) - it may be good to use momentum indicator ... I remember - there is qq EA based on it:
But we will need the signal indicator anyway to open the trade - it may be asctrend signal, or any other indicator with dots or arrows (to open the orders for buy or sell). And exit ... where to exit?
I mean: this simultanious movement can be 'trading zone" for us indicating that we may trade with some direction (if no simultanious movement so it is "non-trading zone" - means - we are not trading).
But we should have signal indicator in anyway to open the trade.
Just about qq indicator:
If first open bar on M5 timeframe is more than 12th closed bar (M5) on 60 pips we are going buy. Less than 60 - sell. And we are having 70 pips take profit (stop loss is 30).
It is similar with monemtum indicator.
In our case with 4 pair scalping - it may be the following:
If first open or close bar on M5 timeframe (or M1 or M15 - selectable by settings) is more than N closed bar (selectable by settings) on 60 pips (selectable by settings) we are going buy. Opposite for sell. And we are having 70 pips take profit (stop loss is 30) - selectable by settings too.
It may be good to create indicator first with the following input:
- TakeProfit line
- StopLoss line
- PipsTrend (defauls is 60)
- UseSimultaniusTrend as true and false
- PairsToUse if UseSimultaniusTrend = true (default is EURUSD, USDCHF, GBPUSD, ....)
newdigital you have make system too complicated.
the idea is to scalping therefore depends on session.
for Asian maybe good for 10 plus pips, for euro and us maybe good for 30 plus pips. in active session there would be force to buy or sell usd at same time. so keep it simple.
first pciture for 3 pair as eu, gu, and au at 5min chart for oct 18 2012 Asian session.
all 3 pair show down trend as you can see, to get easy 10 plus pips. the chart is taken around GMT 8 am.
the second picture below is 1m chart around 8:40 GMT.
there is a chance for 10 plus pips for eu
Yes, I agree.
But the problem is that ... they are not starting on the same time.
And it may be false signals too (false start)
But, anyway, it may be good for 10 or 20 pips.