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Simple Correlation Indicator System

  • #301
  • Aug 24, 2016 11:58pm Aug 24, 2016 11:58pm
Quoting redwed
{quote} Thank you so much sir for those kind comments! I'm interested if the indicator/technique able to 'read' all 28 pairs movement as i'm scalping for a few pips here and there. {quote} Hi MeLe. I don't know which version did he use. You can see the attachment -paper clip icon above this thread. {image} As for me, i use another correl indicator from mladen. It is mtf - multiple time frame. For example, if you're on m15 chart you can see higher tf, such as m30, h1 or h4. It is the same if you're on m1. You can see any correl above m1 like m5,...
Thanks redwood, I will check it out. The one that I wanted is not available in the paperclip.
Take care, Regards
  • #302
  • Aug 25, 2016 5:06am Aug 25, 2016 5:06am
Quoting kirkleaforex
{quote} Hi there thanks for your interest. This thread has come to a standstill while I wait for a newly coded Correl8 indicator to be released. Good news though, I have received the prototype only last night and am in the testing phase. I have requested some minor tweaking and once I am satisfied it is functioning as it should I will be releasing the .ex4 file for others to investigate. In answer to your question however, yes I was the guy who wrote that document. It was written early on into my studies into the Correl8 indicator and since that...
Thanks
  • #303
  • Aug 25, 2016 8:46am Aug 25, 2016 8:46am
OK I finally have the finished product and will be testing madly whenever I have spare time and an internet connection!

Early days but I am dead impressed with how this is picking up signals.

As a teaser, check out the screenshot of XAUUSD a short time ago. This picked up around 45 pips in 30 mins. Hope to share this all with you within the coming week.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 77 KB
Trade to Live - Don't Live to Trade
  • #304
  • Aug 25, 2016 9:23am Aug 25, 2016 9:23am
Quoting kirkleaforex
OK I finally have the finished product and will be testing madly whenever I have spare time and an internet connection! Early days but I am dead impressed with how this is picking up signals. As a teaser, check out the screenshot of XAUUSD a short time ago. This picked up around 45 pips in 30 mins. Hope to share this all with you within the coming week. {image}
Wow. I'm looking forward to this!

Sir. If you could explain, how does this Correl differs from the basic form of the Correl?

Or should i wait?

Thanks in advance!
  • #305
  • Aug 25, 2016 9:52am Aug 25, 2016 9:52am
Its better to wait.
I'm sure K will explain everything as usual.
Well comeback K.
Cheers.
Merka
  • #306
  • Aug 25, 2016 9:59am Aug 25, 2016 9:59am
Quoting Merka
Its better to wait. I'm sure K will explain everything as usual. Well comeback K. Cheers. Merka
I'm just eager to know more.

If you look some signals from eurgbp yesterday and today. For sure you will caught those large moves..
  • #307
  • Edited 4:06pm Aug 25, 2016 3:38pm | Edited 4:06pm
Quoting redwed
{quote} Wow. I'm looking forward to this! Sir. If you could explain, how does this Correl differs from the basic form of the Correl? Or should i wait? Thanks in advance!
Thanks for showing a keen interest redwed. All will be revealed very soon, but for now i will briefly outline the major changes:

1) There is an EntryTriggerValue user input field where you can choose your own SDV (combined separation distance value);
2) A MinSDVPercentValue allows you to choose a percentage change in SDV from Candle1 (previous candle) to Candle 0 ( current candle).
Note that these two entry triggers are automatically linked. Default entry trigger is 52 and default percent change trigger is 40%.
3) An exit alert which calculates the SDV of the lines as they contract back within a certain SDV
4) Arrows on chart for signal display, complete with arrow size and colour input fields;
5) A complete array of alert functionality including Push Notifications for your mobile phone.

One very important thing worth mentioning is that this has been designed to be use with a single pair only. If you have all pairs showing there with be alerts triggered left right and centre and arrows everywhere. If you really like to show all pairs then i suggest a separate chart window and use the original Correl8b etc.

I hope this works for people as well as it is working for me. It is important to realise though that this is no magic bullet; there is a technique to using it which i will outline shortly.

Have a great day everyone!
Trade to Live - Don't Live to Trade
  • #308
  • Aug 25, 2016 6:20pm Aug 25, 2016 6:20pm
Looking forward to your updated strategy.
  • #309
  • Aug 25, 2016 11:40pm Aug 25, 2016 11:40pm
Quoting kirkleaforex
{quote}All will be revealed very soon, but for now i will briefly outline the major changes:
Looks neat.

About point number 2.

Quote
A MinSDVPercentValue allows you to choose a percentage change in SDV from Candle1 (previous candle) to Candle 0 ( current candle).
Note that these two entry triggers are automatically linked. Default entry trigger is 52 and default percent change trigger is 40%.

Does this mean MinSDVPercentValue differs from EntryTriggerValue? In other words we can get two signals from this? a: when our preferred SDV activated? b: when there is 'change' from 52+40% (of 52)?

Quote
One very important thing worth mentioning is that this has been designed to be use with a single pair only.

Do you think if we open all 7 main pairs (USD pairs), we can decipher all 28 pairs movement? Another indicator - CCFp was created only involving USD pairs to scan all 28 pairs. Maybe we can peg all other currencies to USD to 'scan' all 28 (like CCFp does).

Quote
It is important to realise though that this is no magic bullet; there is a technique to using it which i will outline shortly.

Trading is simple, but not easy. Take a look at the advice following.

Attached Image (click to enlarge)
Click to Enlarge Name: advice from mladen.png Size: 42 KB


Trading takes time, and no single system will help you if too do not take time and learn what trading is all about.
  • #310
  • Aug 26, 2016 12:31am Aug 26, 2016 12:31am
Quoting redwed
{quote} Looks neat. About point number 2. {quote} Does this mean MinSDVPercentValue differs from EntryTriggerValue? In other words we can get two signals from this? a: when our preferred SDV activated? b: when there is 'change' from 52+40% (of 52)? {quote} Do you think if we open all 7 main pairs (USD pairs), we can decipher all 28 pairs movement? Another indicator - CCFp was created only involving USD pairs to scan all 28 pairs. Maybe we can peg all other currencies to USD to 'scan' all 28 (like CCFp does). {quote} Trading is simple, but not easy....
When you decide to make trading easy, it will be easy.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #311
  • Aug 26, 2016 1:31am Aug 26, 2016 1:31am
Quoting TooSlow
{quote} When you decide to make trading easy, it will be easy.
Thanks for the advice and i respect for what've you taught here in ff. But we're meant to be different.

Many people do naked chart trading. Many people trade based on indicators.

They are people who gain 5 pips per day. They are people who gain 100 pips per day. Some of them even more.

And there left some people who always ended up negative.

Some people trade 28 pairs. Some people trade 1,2 pairs. Some people martingale. Some people do hedging. And there are always some people searching for that 'holy grail' ea.

It's not only being in profit. Some of them like to explore ways of doing things. It is a great journey for us. (But there are some people keep jumping from one system/indicator/technique to one another and hoping that the system/indicator/technique/guru/thread starter idea's will work for him/her).

If it's only as simple as that, life would be dull. Once you reached the top, no improvement can be made. And one are forced to follow whatever others have to say.
  • #312
  • Aug 26, 2016 1:36am Aug 26, 2016 1:36am
Quoting redwed
{quote} Looks neat. About point number 2. {quote} Does this mean MinSDVPercentValue differs from EntryTriggerValue? In other words we can get two signals from this? a: when our preferred SDV activated? b: when there is 'change' from 52+40% (of 52)? {quote} Do you think if we open all 7 main pairs (USD pairs), we can decipher all 28 pairs movement? Another indicator - CCFp was created only involving USD pairs to scan all 28 pairs. Maybe we can peg all other currencies to USD to 'scan' all 28 (like CCFp does). {quote} Trading is simple, but not easy....
Hi there...minSDVPercentValue does not provide a signal in its own right, but acts as an additional filter on the EntryTriggerValue alert. When i release the indi for testing, try changing the values of each field and see how it affects the alerts being triggered.

My logic was that when there is a separation of 52 or greater, and the difference in SDV from one candle to the next is at least 40%, this suggests volatility and may offer a better entry signal. They seem to work well at the values i have set as default, but it all deserves a rigourous test.

Regarding your question of scanning all 28 pairs through using all USD pairs on the Correl8, i simply have no clue as i have only ever used it on single pairs. It is certainly something you should look into when you get it.
Trade to Live - Don't Live to Trade
  • #313
  • Aug 26, 2016 2:58am Aug 26, 2016 2:58am
Quoting kirkleaforex
{quote} Hi there...minSDVPercentValue does not provide a signal in its own right, but acts as an additional filter on the EntryTriggerValue alert. When i release the indi for testing, try changing the values of each field and see how it affects the alerts being triggered. My logic was that when there is a separation of 52 or greater, and the difference in SDV from one candle to the next is at least 40%, this suggests volatility and may offer a better entry signal. They seem to work well at the values i have set as default, but it all deserves a...
Agreed with your statement. I'll wait for the final product to be released. Later i'll explain '28 pairs' problem, maybe in pm to avoid confusion among the members and keep the thread on its track.

Again, thank you for showing me this indicator! Very grateful for this.
  • #314
  • Aug 26, 2016 3:19am Aug 26, 2016 3:19am
Quoting redwed
{quote} Agreed with your statement. I'll wait for the final product to be released. Later i'll explain '28 pairs' problem, maybe in pm to avoid confusion among the members and keep the thread on its track. Again, thank you for showing me this indicator! Very grateful for this.
PM me anytime. But i don't mind you sharing your ideas here...always up to share ideas and learn a little more myself.
Trade to Live - Don't Live to Trade
  • #315
  • Aug 26, 2016 5:44am Aug 26, 2016 5:44am
Quoting kirkleaforex
{quote} PM me anytime. But i don't mind you sharing your ideas here...always up to share ideas and learn a little more myself.
Thank you for giving me chance to 'speak' on your thread. It's a comfort, knowing that the thread starter was so open with the idea of learning from others. I will not open a new thread as i found this is a great place to share what i 'see' from this indicator called Correl8. (You can search google, but there is not much information.) I hope this is not disturbance for the way this thread works and the focus is on Correl8 and not other supplementary indicators in my chart.

So, let's begin.

Here is my indicator.
Attached File(s)
File Type: mq4 correl8_1.mq4   16 KB | 877 downloads


And here are the parameter inputs.

Attached Image


I set them to 42.

(Oh 1 thing worth mentioning. I didnt read this thread from page1, but i only read the pdf. I'll not repeat them, please download them from the paper clip icon above this thread.)

Here is my screen.

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 102 KB


I set up EURGBP and GBPAUD m15, same time 25-Aug-2016. With standard Correl8, i only change 42 in the iPRIPeriod. No other changes.

Can you spot any difference/similarities between those two?

Better yet, this is the bigger scale, same correl.

Attached Image (click to enlarge)
Click to Enlarge Name: 1 - bigger scale.png Size: 87 KB


What do you see from those two pictures?
  • #316
  • Aug 26, 2016 7:49am Aug 26, 2016 7:49am
@redwed: the correl-line from GBP is the very same, since it's the same timeframe. The correl is calculated not only from the price in the chart above it (as most indicators), it's the strength of the GBD against all other big currencies.
  • #317
  • Aug 26, 2016 8:14am Aug 26, 2016 8:14am
Hello friend!
I need some help, plese tell me how can make the indicator belowe. I think that I've got all indicators. Thank you for help..
Attached Image (click to enlarge)
Click to Enlarge Name: Zrzut ekranu 2016-08-26 o 15.11.05.png Size: 21 KB
  • #318
  • Aug 26, 2016 8:38am Aug 26, 2016 8:38am
Quoting Strom
Hello friend! I need some help, plese tell me how can make the indicator belowe. I think that I've got all indicators. Thank you for help.. {image}
That is Correl mtf. Look carefully at upper left. I'm mtf h1 into m15. That's why the shape is 'funny'.
  • #319
  • Aug 26, 2016 8:42am Aug 26, 2016 8:42am
Quoting illiquid
@redwed: the correl-line from GBP is the very same, since it's the same timeframe. The correl is calculated not only from the price in the chart above it (as most indicators), it's the strength of the GBD against all other big currencies.
That's quite good.

If we're looking GBP, we're actually looking for 'entire' GBP. It is composed by GBPUSD, GBPNZD, GBPCHF, GBPCAD, GBPJPY, GBPAUD and EURGBP. I don't know about the calculation, but it seems consistent across all the charts i've opened. And it is meaningful too.

But, that's half of the story.

Another questions come in.

Are you sure the GBP correl lines are the same? Can you explain more on that?

(im not english speaker, so i'm very poor in my grammar).
  • #320
  • Aug 26, 2016 10:31am Aug 26, 2016 10:31am
@redwed
Yes, the GBP correls are the same... the values on the scale prove it. The higher the values, the stronger the respective currency. The higher the distance between the lines, the more trending should appear.

Not sure what other question comes in?

I would be interested in how the correls are calculated.
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