Kreslik.com - traders community since 2006

TRO_Forex_PipSum



TRO_Forex_PipSum sums the prices of 4 currencies. I use the 4 major pairs.

Notice what happens to the individual prices when the histogram is at a maximum or minimum.

Simple, yet profitable.

ELD and Workspace attached.

Tro,
Been out of the game for a bit, had to focus on research. Always keepin tabs on your work though.

Interesting indicator. 2 questions:
1) Since min and max seem important, would it be wise to turn sum data into an oscillator? Maybe it could help visualize more clearly where and to what degree the sum is within a range.

2) The formula for USDJPY "iData4( (Close of data4) * .01)" for the most part eliminates the yens contribution to the sum (by shifting price fluctuation to the hundredth and thousandth decimal). How about just subtracting say 114 to get it in line with the scale of the other data? Would that fall in line with the spirit of the indicator?

I'm gonna give it a try, just wanted some wisdom.
Thanks,
pagz

pagz wrote:Tro,
Been out of the game for a bit, had to focus on research. Always keepin tabs on your work though.

Interesting indicator. 2 questions:
1) Since min and max seem important, would it be wise to turn sum data into an oscillator? Maybe it could help visualize more clearly where and to what degree the sum is within a range.

2) The formula for USDJPY "iData4( (Close of data4) * .01)" for the most part eliminates the yens contribution to the sum (by shifting price fluctuation to the hundredth and thousandth decimal). How about just subtracting say 114 to get it in line with the scale of the other data? Would that fall in line with the spirit of the indicator?

I'm gonna give it a try, just wanted some wisdom.
Thanks,
pagz

1) That could work. But for me, the histogram display is easier for me to see. Of course, audible alerts make it even easier.

2) It doesn't eliminate the Yen's contribution at all instead it puts it on an "equal footing". Take the "* .01" off and you'll see what I mean.

Nice to hear from you, Pagz.

wondering if anyone has found this indicator usefull?

i actually put it on a 1mn and 60mn chart

i let the 60 mn chart set the predominate trend

i use the 1mn then to ID extreme overbought in down trends (opposite for long trend)

been walking through the charts and seems to be working

any other thoughts

maybe im making it to complicated

Has Michal done any statistical testing on this? While not his Perfect Hedge, this sort of thing seems to be right up his alley.

Hi bh4313003

Can you post a few screen shots? jb

Hi Guys,
I was also trying to convert this indicator in Tradestation into the YM symbol.
Would anyone here have achieved this or could provide me with some insight on how to do this.

Thanks TRO and everyone for their input. This site is great.

All the Best
John

This wouldn't convert to the YM unless there are other futures that would make sense to compare the YM to.

Try comparing it to forex symbols that corolate highly with US equities such as GBPJPY.

Sometimes we think alike, Avery, as earlier in the year I was experimenting with something just like this after a fortunate casual observation. I wasn't able to make it work though; your concepttual layout and design came out much better.