Forums Indicator discussion Currency Strength/Power/Value Indicator Reply To: Currency Strength/Power/Value Indicator

#6701
Arthur
Participant

    Hello, gents

    Not pretending that I found something unique. Just testing possible setups and looking for repeating “patterns” in the indicator’s behaviour that may or may not yield some form of edge. There are 2 different setups I’m testing and following. You can use either of the posted Currency Multi power indicators. There indeed are some “repositioning” taking place as mentioned in one of the posts – but they sometimes “stick” and those are the ones that can be traded.So I cannot go into more detail until I understand the latter.

    More screen time is needed on my side to see how these can be identified with high probability. I’m sure there is a way. The first setup I look at – I will explain. The indicator can be set up as follows:

    Under the input tab:

    showBoth – true

    oneLine – false

    smoothing – 10

    maxBars – 2000

    Fastest Bars – 24

    Fast Bars – 24

    Slow Bars -24

    Slowest Bars – 24

    Pretty much the standard input.

    Under the “colors” tab:

    The colors will be marked from 0 to 7. Input under colors 0,1,2 all “none”. Color 3 we make GREY. Colors 4 and 5 are “none” again. Color 6 we make BLUE and color 7 we make RED.

    That is it. Nothing special. I attach a few charts for the past 2 weeks on EU showing what I have been looking at. And traded some. They all worked in the end.But this can fail tomorrow – so I am still investigating and observing. Draw down could be a big issue – as I have seen a few 100 pips against before returning on 1hr. So better to test on 15min. Take pips and run. On the demo i’m testing on, draw down sits at 11.6% and profit at 36% now. Win ratio just above 70% this after 249 entries. The win ratio is at 70% because of scaling in, lot sizes used for different entries and grabbing profits on some positions before they mature.This is therefor a clear indication that I do not have trust in the setup and are only testing an observation that may be non-sustainable.

    But you asked… :unsure:   Work continues…

     

     

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