Thank you.
I'll let you know how it turns out.

FerruFx

I modified the last version you posted (reversal version) to exclude the infinite loop and use the ticks (start function) instead. If it holds up, it'll enable the input parameters to be changed without first removing the EA. Please let me know what you think.

Attached Files

!xMeter_MultiPairs_Trader_ReverseV2.mq4 (38.2 KB, 482 views)

Hi FerruFx,

1-You have all advanced a lot in the EA development,I have given you my opinion above,please note that when I write GBP+CHF=7.0 i mean the sum of both currencies,so,if you have gbp at 4.5 and chf at 2.5 that`s is enough support for the EURUSD long..level can be 7.0,6.5,7.5 ..if you leave this level open we can test and improve..some of the correlations can seem strange at first view,like the one for long USDJPY, for example,this is based in ,sorry for the definition, "conceptual perception"..When I go long USDJPY ,basically what i do is choosing the strongest between 2/3 potential longs..USDJPY,GBPJPY,EURJPY..if at least one of the other 2 are not there for the comparison(ie GBP+EUR<7)..something is not quite right there

2-IMHO: The EA ,as it is,with the indicator feeding in real time,will probably be better in direct version when used for timing entries in the direction of a longer tf trend ..or in its reverse version when used as a short term tool to fine tune a countertrend entry when range trading...being able to test a fixed time version(ie,every hour feed to compare relative strength momentum between pairs) will be extremely helpful to decide if this can be the case also,or to create 2 sets of strategies with this indicator,one for "direct" and the other for "reverse"..

Thanks..a lot my friend

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Equo ne credite,Teucri.

Thanks again Simba for your help and comments. Great!

A question before jump in this work:

You write: Long EURUSD: EUR at HighLevel and GBP+CHF>=7.0

Is the Short condition: Short EURUSD: EUR at LowLevel and GBP+CHF<=2.0 (level testable!)?

If yes, is it the same for all your answers?

Thanks Eve, i look at this.

But with the "ticks refresh", the !xMeter isn't in live mode and for a better use, we must attach the EA on a volatile chart to take more ticks (and don't lose time for enter!)

FerruFx

since EUR and CHF are negatively correllated how about

BUY EUR = HighestLevel USD = LowestLevel CHF = LowestLevel
SELL EUR = LowestLevel USD = HighestLevel CHF = HighestLevel

Hi FerruFx,

EUR is one of the 3 main currencies,so it is influenced BOTH by their position vs USD and JPY..so the optimal checking correlated tool would be ,first that GBP+CHF are weak too ..so,GBP+CHF<=7 would be ok (the average of the other 2 european currencies being 3.5 is ok as a confirming tool)..and second that,presuming EUR weak,USD strong(and GBP+CHF<=7.. )..Jpy would be above 4/5..so,if we had EUR at 2,USD at 7,GBP at 3,CHF at 3..and JPY at 5..
looks like a short to me..or a reversal in the reverse mode....that`s why we have to test,to see if these correlations help us or not..and which of the 2 modes is the one to choose and when

In the case of EURUSD short,with correlated pairs..the mind process is like.."OH,the European currencies as a group are weak(EUR at 2,GBP+CHF<=7),let`s choose the weakest one(EUR) to sell against the stronger one of
the USD,JPY..AND I want to see the other one of USD,JPY NOT WEAK(USD at 7,JPY>=4),because Both have a lot of influence on EUR

Allow me to disgres a little ( I hope it is only a little )In the case of EURJPY long,with correlated pairs,the mind process is like.."OH,JPY is very weak,let`s choose which one of the 3(4 if you count AUD) usual "against JPY" pairs is stronger..EUR at 7,OK,now as a safety measure the other 2(3 with AUD) should at least be NOT WEAK,on average..so either GBP+USD>=7 or GBP+USD+AUD>=9/10 go ahead..BUT.. Imagine you have EUR 7,JPY 2..and USD 2.5..which are the keys?YOU have 2 potential trades ,long EURJPYand long EURUSD..check..GBP >4..ok both..CHF<3.5(since GBP+CHF>7.5 then ok European group with Euro as a leader..but )..since CHF affects more USD than JPY..the fact that it is weak supports more the EURJPY long than the EURUSD,now AUD MUST be strong..if USD and JPY are weak,AUD must be above 4/5..ok,it is strong..then either long EURJPY or long 2/3 EURJPY+1/3 EURUSD..Hope that I have been able to transmit the concept behind correlation checking as a confirming tool,once you have an entry by your system

I would stick with the GBP+CHF <= 7(testable) for the moment-and the other examples too- to avoid complicating the matter,though it is possible that ,if first results are encouraging we can explore the correlations in deep..let`s see
The Market will show us what to do..

Thanks again for your excellent work

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Sorry BluePearl but (the 3 letters word ) EUR,CHF,GBP vs USD, as GROUP correlations,are positively correlated..check Historical charts for EURUSD and USDCHF and you will see that they are ,inverted(so long USD or short USD on Both will get you similar results),practically the same..check EURUSD,GBPUSD..practically the same..in terms of direction not actual %

The only difference lately is that the CHF is the weakest of the European currencies(int rate expectations being the main cause),so,it is the lower increasing and higher decreasing of the european trio vs the USD..unless political turmoil arises and ,suddenly,it moves faster up..

Regards

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Equo ne credite,Teucri.

Hi SIMBA,

Here's the 'filtered' version (only EURUSD).

The filter as i understand it (my english is not so good!) and as i set it:

If EUR <= LowLevel AND GBP+CHF <= predefined Level then Short
If EUR >= HighLevel AND GBP+CHF >= predefined Level then Long

Hope we start to go on the right way!

FerruFx

Attached Files

!xMeter_MultiPairs_Trader[filtered].mq4 (37.8 KB, 481 views)

Hi:

Thank you very much for this EA !!!!

When trying to open a trade it gets error # 130

What dos thet means ?

Also i thong we have to combine two of this Xmeters one as now daily and the second one should be hourly and if both are in the same direction we have a trade


Thank