[ztrader]

Originally Posted by Trader333 »

Thanks ztrader and Walter, I am finding all of this to be good. I take your point about volume data but as you say the improvisation seems to be doing well for you. There are quite a few datafeeds that Excel can work with, do you have to backfill or just run it live ?


Paul

Ooops, I pressed the wrong button. . Anyhow, it runs live, real time via DDE option on MT4. I just watch it on another monitor. BTW, I only use this approach mostly on pairs I do not normally trade. I just hit BUY or SELL on either oanda or fxcm platform to enter live trades for them.

ztrader

[ztrader]

Originally Posted by walterw »

Nice nice nice ¡¡ you see what I mean, strong against weak currencies themselfs, forming a good potential pair.... nice excell stuff, I asume you also feed that with metatrader ?

about the time frames I always end on the scalper style, and still its interesting to see how this techniques still work even on this very small universes...

As usual, its a priviledge and a pleasure to interact with an analist of your level as you are...

and as usual ENJOY that pipastic Z ¡¡ cheers, The Chimp.

Thanks. Yeah, it's real time feed from MT4. I will be posting later using similar indicator for MT4.

ztrader

[ztrader]

Like I said there are number of ways of measuring the strength and weakness of each currency and forex pairs. Walter initially introduced here the use of TopGun Software's "sophisticated" FXMultiMap in 3 different settings. While I posted another using an Excel format. Here are couple more tools shown on the chart below: .

Each shows the strength of JPY and weakness of USD in different ways. The bottom indicator [actually an expert advisor] is similar to the excel format attached to a chart. The top indicator is another way which shows the USD scoring 1 indicating weakness while JPY at 8 as strong and getting stronger/rising, a modified version of the Excel format. The middle one measure it completely different and based on range, pivot, support and resistance. All of them work, as a matter of preference, I like the Excel better coz it is simpler, easy to read, and no overload on CPU.

ENJOY!

ztrader

[Trader333]

ztrader,

Is your Excel version one that you have set up and coded yourself or is it generally available ? The reason I ask is that it is an option for me as well.


Paul

[ztrader]

Originally Posted by Trader333 »

ztrader,

Is your Excel version one that you have set up and coded yourself or is it generally available ? The reason I ask is that it is an option for me as well.


Paul

Paul,

The one I use is my modified version of the commercial copy. The creator has now replaced the Excel format with a full blown software which he is selling, I believe, at about 200 Canadian Dollars. There is also a similar freeware of the original Excel version available somewhere. I will look for the link and check if the site is still working. Please check your private message inbox.

I have attached screenshot of the two softwares. Now, you'll know more why I like the excel format better.

ENJOY!

ztrader

[ztrader]

I know this thread is about strength and weakness of Forex but not to leave out the eminis, since I trade them also, I just want to add in here how a similar strength and weakness approach can be applied to emini futures or any instrument for that matter. Here is an example of how the accelerated drop on YM and ES is shown on the same Excel file I use for forex. One can SHORT one or both of them when weakness scoring 1 is shown, add to or stay longer with previously entered SELL for some nice 15-19 plus points each per contract. DONE for the day before New York martini lunch time that's why I am able to make all these posts. I only trade them for 2-3 hours. Although, my emini trading method is not dependent on this tool, it is still handy to have.

ENJOY!

ztrader

P.S. Chimp, I hope this is not construed as hijacking the thread. Otherwise, please feel to have them remove. Gracias amigo!

[Trader333]

ztrader,

Yes I can see why you prefer the Excel version. I have checked my messages and responded.


Paul

[brownsfan019]

Originally Posted by ztrader »

I know this thread is about strength and weakness of Forex but not to leave out the eminis, since I trade them also, I just want to add in here how a similar strength and weakness approach can be applied to emini futures or any instrument for that matter. Here is an example of how the accelerated drop on YM and ES is shown on the same Excel file I use for forex. One can SHORT one or both of them when weakness scoring 1 is shown, add to or stay longer with previously entered SELL for some nice 15-19 plus points each per contract. DONE for the day before New York martini lunch time that's why I am able to make all these posts. I only trade them for 2-3 hours. Although, my emini trading method is not dependent on this tool, it is still handy to have.

ENJOY!

ztrader

P.S. Chimp, I hope this is not construed as hijacking the thread. Otherwise, please feel to have them remove. Gracias amigo!

OK, I'll bite - how are these constructed and is it possible to get more info?