The 28Pairs Currency Strength Trading System
- also known as Double-GAP Strategy - is my primary trading philosophy
and is based on exploiting individual currency strength and weakness.
The principle idea is buying strength and selling weakness. This
is a fundamental strategy for investors in all marketplaces. Most
amateur retail traders in Forex either ignore this winning strategy or
are unaware of it.
With
this strategy we look at individual currencies rather than currency
pairs and then buy the strong currency and sell it against the weak
currency. This will give your trading a real edge.
When I refer to the Market I mean THE 8 main currencies and the 28 FX pairs that are derived from those 8 currencies.
The market has to be seen always in equilibrium. If one currency is
bought some other(s) must be sold. This we could call her money flow. (I
may use terms in a different way as they are used usually in this
thread).
When we analyze the market we look at the whole market which to us is 8
currencies and 28 pairs. (Exotic pairs are not included for now.)
When most traders look at a chart to find a trade setup they would need
to check 28 charts to understand what the Forex market is doing. When you use the the Currency Strength28 strategy you only look at currencies, not pairs, and for that we need to check only ONE CHART! Do you understand now the edge?
So lets first have a look at the 8 currencies which are:
US Dollar, Euro, Yen and Pound, these are the most important because
they have the largest trading volume, then there are Swiss Franc,
Australian, Canadian and New Zealand Dollars.
Each single currency belongs to a single economy. Some currencies
are trending up some currencies are trending down, this information you
can not see from a single pairs chart. For example: if the EURUSD pair
is trending up you do not know why from looking at a single chart. Maybe
the Euro is strong and the USD is flat or the Euro is flat and the USD
is weak or even both are strong and the Euro is just stronger. Remember
in any chart there are two currencies they are called the BASE and the
QUOTE currency.
To maximize your wins and minimize your losses you need to know what an
individual currency is doing in the context of the whole market. Staying
with our EURUSD example: a EURUSD chart will show you only 1/28th of
the market so you only have a small amount of information to base your
trading decision on. Given that each currency can be paired with 7 other
currencies you should be basing your trade decision on the information
that all 14 pairs give you. By using the CStrength28 indicator you can
get all that information from just the one chart.
Now you may know all of that already but stay put I will add new stuff!
The goal of the strategy is to find out the sentiment of the market and
which pair is good to trade and which pair is not. As a trader you
should know if a currency is trending, consolidating or reversing as
this will give you information on how to trade. Do we look for
continuation or do we look for pullback/reversal? This is THE most
important information you need to trade and this strategy will give you
the answer!
You are always welcome to ask me questions about the strategy and the specialized indicator.
It is important to have the following 28 currency pairs in the market watch, the indicator needs this data to calculate strength: AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY check "C28.set".
Do not have much more in the market watch.
"C28.set" goes into history/symbolsets folder then you can recall it in market watch with right click http://prntscr.com/bzw7eq
If you work the first time with multi currency than
GET MT4 HISTORY BEFORE USING CURRENCY STRENGTH INDICATORS, (ANY)!
Fill the history data of your mt4 platform with all pairs and all TFs.
How to do this? If it is the first time to update then I use saved
profiles. Many people are not used to profiles what is this? You do
(hopefully) know how to save a template of a chart and reload this
template on a new chart. Now a profile is just one level higher. It save
all the charts you have open with your terminal with all the different
templates on and all the TFs. (sorry my mt4 is German but you will
understand the screenshots easy)
First save the profile which you are using now, to get it later back:
Click on File Click on profiles
Click on save profile
So you will save your profile to a name you will recognize. Later you
will find it in the list and can come back to it at any time.
Now first download the zip file on the bottom of this post.
To load now all the history data I post here a zip file with 9 profiles, each is with all pairs per one TF each.
Again you Click on File
Click on Open Data Folder
Open now the profile folder
Unzip the download and Copy and past all PROFILES FOLDERS in that
folder. You need to copy the complete 9 folders which are called "update
quote...." into the folder of mt4 called "profile".
We are not done jet. Now to update all 28 pairs in all 9 TFs you open one profile after the other and the next and next...
Yehh puh that's work but it must be done....
So open the first profile which is called "update quote D". You see here
in this screenshot not all data is complete written in mt4 history.
Some history is missing !!!
now mt4 will update...
Wait until all mini chart windows are full,
and we continue with each TF to do same procedure and open the next profile called "update quote W" and so on...
Now currency strength indicator will find all data needed to print all CS-lines.
Wish you happy pips!
There are some scripts which are supposed to do all this job but
recently one older script have stopped working with the last mt4 version
and an other script take very long time to finish. If I see the 28 mini
charts are full I know what I have and I am sure all data is here. If
you have done that ones it should be good and don't need it to do again
unless you do not use the terminal for some longer time.
Some frequently asked question. Does Advanced_Currency_Strength28 repaint?
Short answer: NO.
Long answer: Why sometimes it looks like?
The reason is, the history of mt4 terminal is sometimes not fully
updating. The indicator of course need the history of the pair you have
on chart but more it needs many other pairs to calculate the currency
strength. So a lag of data can happen if your internet connection is
slow or your broker have not send all data feeds completely. Its
possible if you did not open your terminal for some time or you request a
TF which you do not have used for a while.
At first it is important to have all 28 currency pairs in the market
watch. The indicator need this data to calculate strength. Then you need
to know about mt4 how it update history. Only when a pair and TF is
requested (a open chart!) mt4 history will be updated. So if you change
the TF on the chart were the indicator is on, mt4 needs first update all
the history of all pairs. This take a while (like 10 to 30 seconds? It
depends of your internet connection.). It will update then in memory.
Now you need to change the TF again and back to it and all currency
strength will now show correctly. This is not a repainting but mt4 need
to update the history. It is done in a few moments not a big deal. Ones
you keep it on a live chart it will update all required data in MEMORY.
You do not need new actions.
First have you done the steps in post 20? If you did (I hope so) then
you may repeat the steps of post 21 for that TFs in some while so the
history can complete to update and WRITE.
To have all pairs in market watch is not enough. mt4 will only update
AND WRITE IN HISTORY FILE the pairs which are open on a chart and only
this TF. To avoid the lag with mt4 history I keep with minimized charts
at all times open at least the main 7 USD-pairs in the 3 TFs which I use
on a regular basis. This way mt4 is forced to WRITE all data and will
be available to be used the next time you restart the terminal. Next
time you restart your mt4 just wait a minute to be updated all the data.
Still you do not have the cross-pairs but it will help. Just use the
quotes template for it.
Example EURNZD:
We check after a candle closed:
Take the currency strength of EURO and compare it 2 candles back to get the EUR GAP
Take the currency strength of NZD and compare it 2 candles back to get the NZD GAP
IF EUR GAP is down and NZD GAP is up = sell EURNZD
Demo with tester is general option for MQL5 site. This can not be
changed. And I am not sure if those test running correctly because the
indicator read all 28 pairs and I doubt the tester provide all data also
you can not change the pair while testing. Still you can have an idea. Save my template under the name "tester" before you run it.
The 28Pairs Currency Strength Trading System - also known as Double-GAP Strategy - is my primary trading philosophy and is based on exploiting individual currency strength and weakness.
The principle idea is buying strength and selling weakness. This is a fundamental strategy for investors in all marketplaces. Most amateur retail traders in Forex either ignore this winning strategy or are unaware of it.
With this strategy we look at individual currencies rather than currency pairs and then buy the strong currency and sell it against the weak currency. This will give your trading a real edge.
When I refer to the Market I mean THE 8 main currencies and the 28 FX pairs that are derived from those 8 currencies.
The market has to be seen always in equilibrium. If one currency is bought some other(s) must be sold. This we could call her money flow. (I may use terms in a different way as they are used usually in this thread).
When we analyze the market we look at the whole market which to us is 8 currencies and 28 pairs. (Exotic pairs are not included for now.)
When most traders look at a chart to find a trade setup they would need to check 28 charts to understand what the Forex market is doing. When you use the the Currency Strength28 strategy you only look at currencies, not pairs, and for that we need to check only ONE CHART! Do you understand now the edge?
So lets first have a look at the 8 currencies which are:
US Dollar, Euro, Yen and Pound, these are the most important because they have the largest trading volume, then there are Swiss Franc, Australian, Canadian and New Zealand Dollars.
Each single currency belongs to a single economy. Some currencies are trending up some currencies are trending down, this information you can not see from a single pairs chart. For example: if the EURUSD pair is trending up you do not know why from looking at a single chart. Maybe the Euro is strong and the USD is flat or the Euro is flat and the USD is weak or even both are strong and the Euro is just stronger. Remember in any chart there are two currencies they are called the BASE and the QUOTE currency.
To maximize your wins and minimize your losses you need to know what an individual currency is doing in the context of the whole market. Staying with our EURUSD example: a EURUSD chart will show you only 1/28th of the market so you only have a small amount of information to base your trading decision on. Given that each currency can be paired with 7 other currencies you should be basing your trade decision on the information that all 14 pairs give you. By using the CStrength28 indicator you can get all that information from just the one chart.
Now you may know all of that already but stay put I will add new stuff!
The goal of the strategy is to find out the sentiment of the market and which pair is good to trade and which pair is not. As a trader you should know if a currency is trending, consolidating or reversing as this will give you information on how to trade. Do we look for continuation or do we look for pullback/reversal? This is THE most important information you need to trade and this strategy will give you the answer!
You are always welcome to ask me questions about the strategy and the specialized indicator.
GBPNZD Monthly: many pips to take if you know to sell weak and buy strong
It is important to have the following 28 currency pairs in the market watch, the indicator needs this data to calculate strength:
AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, NZDCAD, NZDCHF, NZDJPY, NZDUSD, USDCAD, USDCHF, USDJPY
check "C28.set".
Do not have much more in the market watch.
"C28.set" goes into history/symbolsets folder
then you can recall it in market watch with right click http://prntscr.com/bzw7eq
Get the indicator on a black chart or change Colors (EUR is white).
But better use the template.
(Market Fibonacci level names are shown by chart property.)
Important!
If you work the first time with multi currency than
GET MT4 HISTORY BEFORE USING CURRENCY STRENGTH INDICATORS, (ANY)!
Fill the history data of your mt4 platform with all pairs and all TFs. How to do this? If it is the first time to update then I use saved profiles. Many people are not used to profiles what is this? You do (hopefully) know how to save a template of a chart and reload this template on a new chart. Now a profile is just one level higher. It save all the charts you have open with your terminal with all the different templates on and all the TFs. (sorry my mt4 is German but you will understand the screenshots easy)
First save the profile which you are using now, to get it later back:
Click on File
Click on profiles
Click on save profile
So you will save your profile to a name you will recognize. Later you will find it in the list and can come back to it at any time.
Now first download the zip file on the bottom of this post.
To load now all the history data I post here a zip file with 9 profiles, each is with all pairs per one TF each.
Again you Click on File
Click on Open Data Folder
Open now the profile folder
Unzip the download and Copy and past all PROFILES FOLDERS in that folder. You need to copy the complete 9 folders which are called "update quote...." into the folder of mt4 called "profile".
Yehh puh that's work but it must be done....
So open the first profile which is called "update quote D". You see here in this screenshot not all data is complete written in mt4 history.
Some history is missing !!!
now mt4 will update...
Wait until all mini chart windows are full,
and we continue with each TF to do same procedure and open the next profile called "update quote W" and so on...
Now currency strength indicator will find all data needed to print all CS-lines.
Wish you happy pips!
There are some scripts which are supposed to do all this job but recently one older script have stopped working with the last mt4 version and an other script take very long time to finish. If I see the 28 mini charts are full I know what I have and I am sure all data is here. If you have done that ones it should be good and don't need it to do again unless you do not use the terminal for some longer time.
Short answer: NO.
Long answer: Why sometimes it looks like?
The reason is, the history of mt4 terminal is sometimes not fully updating. The indicator of course need the history of the pair you have on chart but more it needs many other pairs to calculate the currency strength. So a lag of data can happen if your internet connection is slow or your broker have not send all data feeds completely. Its possible if you did not open your terminal for some time or you request a TF which you do not have used for a while.
At first it is important to have all 28 currency pairs in the market watch. The indicator need this data to calculate strength. Then you need to know about mt4 how it update history. Only when a pair and TF is requested (a open chart!) mt4 history will be updated. So if you change the TF on the chart were the indicator is on, mt4 needs first update all the history of all pairs. This take a while (like 10 to 30 seconds? It depends of your internet connection.). It will update then in memory. Now you need to change the TF again and back to it and all currency strength will now show correctly. This is not a repainting but mt4 need to update the history. It is done in a few moments not a big deal. Ones you keep it on a live chart it will update all required data in MEMORY. You do not need new actions.
First have you done the steps in post 20? If you did (I hope so) then you may repeat the steps of post 21 for that TFs in some while so the history can complete to update and WRITE.
To have all pairs in market watch is not enough. mt4 will only update AND WRITE IN HISTORY FILE the pairs which are open on a chart and only this TF. To avoid the lag with mt4 history I keep with minimized charts at all times open at least the main 7 USD-pairs in the 3 TFs which I use on a regular basis. This way mt4 is forced to WRITE all data and will be available to be used the next time you restart the terminal. Next time you restart your mt4 just wait a minute to be updated all the data. Still you do not have the cross-pairs but it will help. Just use the quotes template for it.
35 pip TP
35 pip SL
risk : reward ratio 1:1
Something must be right !
I do not see any where that an alert is included in this indicator. How can you use this without an alert?
Hello bighead you are welcome.
It is used in my well discussed trading strategy the 28pairs currency strength trading system.
Check currency line for a double GAP (2x GAP in opposite direction)
We need 2 Currency GAP's to get one dGAP:
Example EURNZD:
We check after a candle closed:
Take the currency strength of EURO and compare it 2 candles back to get the EUR GAP
Take the currency strength of NZD and compare it 2 candles back to get the NZD GAP
IF EUR GAP is down and NZD GAP is up = sell EURNZD
(picure is taken from an older indicator version)
Buy the strong and sell the weak and the best of it: you do not need many charts !
CADJPY m15 from last Friday
My indicator comes with a complete trading system.
Please read my blog about currency double GAP theory and trading system
https://www.mql5.com/en/blogs/post/679077
I also teach how to trade. Contact me.
1 only for Currency Strength28:
2 Currency Strength28 and Impulse
Tip for demo testing:
Demo with tester is general option for MQL5 site. This can not be changed. And I am not sure if those test running correctly because the indicator read all 28 pairs and I doubt the tester provide all data also you can not change the pair while testing. Still you can have an idea. Save my template under the name "tester" before you run it.
satisfied customers making pips :)
feedbacks on FF
I just saw the above templates will not work because the indicator-files are under indicator/Market
Here are the updated templates.
If you have any questions be free and just send me a message.
If you are beginner and own one of my indicators you can join our skype group.
Bernhard,
I see only rental options, is there a purchase option also? Thanks
Bernhard,
I see only rental options, is there a purchase option also? Thanks