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| Study chart idea https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=481 |
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| Author: | nanningbob [ Thu Apr 12, 2012 2:02 pm ] |
| Post subject: | Study chart idea |
I was wondering if you can put price action of one certain currency on one screen. In other words you could see the price action 1MA median line of all the AUDs on one screen. The aud/usd, eur/aud, aud/nzd, gbp/aud, aud/chf, aud/jpy, etc. You could do this for any time frame. (I know of Hanover's work but that is not what I am looking for) What I want to study is this: Does one certain currency pair lead the direction of the others. For example as a guess, the aud/usd will show it goes down first and then the other pairs follow. So in trading you would monitor the aud/usd but then trade the others to follow. Just a crazy idea but to do that there would have to be a way to synchronize price action of all the aud pairs onto one screen and then see if there is a leader. Any Ideas ?? |
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| Author: | Gamma_gallus [ Thu Apr 12, 2012 8:43 pm ] |
| Post subject: | Re: Study chart idea |
I think below could help you, it's one of the great thing that Stratman developped ! You can choose the pairs you want, and the MA type, price etc... for multi TF as well. But the more pairs you want to display the bigger your screen should be  Cheers Olivier |
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| Author: | nanningbob [ Fri Apr 13, 2012 2:45 am ] |
| Post subject: | Re: Study chart idea |
Now turn everything to a 1MA median line and put onto one chart. Then you could easily see which currency pair takes off first and which ones would follow. This would not do that but it does help explain what I am looking for. Thanks. |
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| Author: | Durante [ Fri Apr 13, 2012 4:00 am ] |
| Post subject: | Re: Study chart idea |
I know this ain't exactly what you're after but may be it'll get you started. I added multiple overlays and assigned a different colour for each pair. Have you considered watching an indi that just counts the pips from open of each pair? I posted one before but for some reason removed it again. If you're interested I'll repost |
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| Author: | mieloo [ Fri Apr 13, 2012 6:54 am ] |
| Post subject: | Re: Study chart idea |
for some months i was watching closely the correlations, especially eur pairs .. the conclusion... price moves because of so many reasons that there is no standard leading pair. usually the liquid pairs, in this case audusd, euraud and audjpy are the first movers, but the leading pair can be any of them depending on how important is the reason for the market in that moment. the only thing that was helpfull was the fact that usually if one of the pairs wants to brake over an important technical level, it will not do it completly if the other important pairs will not follow. in other words, audjpy will not go long over an rezistance if audusd didn't finish his correction and touch a good buy zone. |
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| Author: | SteveHopwood [ Fri Apr 13, 2012 7:14 am ] |
| Post subject: | Re: Study chart idea |
Bob, I googled "forex multi-currency moving average indicator" and ended up at http://www.iforex-indicators.com/multic ... harts.html The software is open-source and free; there is a setup program to download. I have not persuaded the indi to display anything other than "Waiting for update" yet, but I might have done the setup incorrectly. The illustration looks as though this might be what you want.  |
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| Author: | SteveHopwood [ Fri Apr 13, 2012 7:33 am ] |
| Post subject: | Re: Study chart idea |
Attached is the indi. I worked out why my charts were showing nothing - I had forgotten to add the 'm' suffix to the pairs.  |
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| Author: | nanningbob [ Fri Apr 13, 2012 10:55 am ] |
| Post subject: | Re: Study chart idea |
This looks good, in other words if I change the name of each currency in the indicator I can see as many as I want on the screen?? |
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| Author: | nanningbob [ Fri Apr 13, 2012 11:00 am ] |
| Post subject: | Re: Study chart idea |
Thanks Steve, I will look at both of these and check it out. I see in the pic above the red dropped first and then the others followed. Wouldnt need any other indicators if this worked. In one sense it wouldnt make any difference which pair went first. If you saw a sharp down spike on one CHF pair would trading the others be beneficial. HMMMMMMMMMMMMMMMMMM If you used pending orders and they didnt follow you wouldnt be in the trade. Interesting. I might have fallen off my rocker on that one. If I find some kind of correlation I may do my first trading thread here. I like your new Forum Steve. |
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| Author: | SteveHopwood [ Fri Apr 13, 2012 11:21 am ] |
| Post subject: | Re: Study chart idea |
This forum is a great place to hang out, for sure. If you come to some tentative conclusions, this is probably one that can be automated reasonably easily. We shall see. Cheers |
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