Currency Strength System

Trading Systems Free Forex Trading Systems
1

Hi Everyone,

I have come up with a new prediction system based on currency analysis. Actually the idea is from the xMeter indicator, so the credits also go to the xMeter creators.

The main idea is to know the strength of a particular currency relative to all other currencies. I have modified the xMeter formula and made it adaptive to continuous market changes by using bollinger bands. Also the new indicator I have come up paints history values and future predictions of the currency strengths based on data mining techniques. The system is able to predict future with an accuracy of above 80%:).

Currency Strength Indicator
The system mainly consits of:

  1. Indicator (CurrencyStrength_INDv2.0.mq4)
  2. Library (mql2svm.mqh, mql2svm.dll, and some additional DLL`s)

Note: The indicator and the future predictor is trained on 5 Minute data. So the indicator can be applied to any of the below mentioned currencies (see currency color image), but only on minute 5 chart.

Note: Also do not add this indicator together with other indicators to the same chart.

Installation

  1. Download (link below) & extract the zip file somewhere on your computer
  2. Copy “CurrencyStrength_INDv2.0.mq4” file to “indicators” folder of your Metatrader installation. Ex: C:\Program Files\Metatrader\experts\indicators
  3. Copy “mql2svm.mqh” file to “include” folder of your Metatrader installation. Ex: C:\Program Files\Metatrader\experts\include
  4. Important: Copy “mql2svm.dll” file to “libraries” folder of your Metatrader installation. Ex: C:\Program Files\Metatrader\experts\libraries
  5. Very Important: Copy “csa” folder included in the zip file also to the “libraries” folder of your Metatrader installation.
  6. Restart Metatrader, add the indicator to 5 minute chart of any below mentioned currencies. Zoom chart to Max to see the predictions.

Note: At the first time of loading the indicator you might see strange lines. This could be due to the missing currency data in the history. You should see an error message in the terminal “Data error ZERO value”. If this happens after first load of the indicator, wait for a while for the metatrader to update required history. Then reload the indicator or restart the metatrader. Do this untill you no more see the “Data error ZERO value” error message in the terminal.

Indicator screenshot

csa.jpg700×601 77.7 KB

Strength Levels:
[ -1, -0.8, -0.6, -0.4, -0.2, 0, 0.2, 0.4, 0.6, 0.8, 1 ]
Weak <--------------Neutral--------->Strong

Currency color codes:

USD EUR GBP CHF CAD AUD JPY NZD

How to use the system for trading

Example short term trading EURUSD pair:
BUY EURUSD if EUR strength is increasing from below against USD strength and future predictions shows up-arrow for EUR and down-arrow for USD.
SELL EURUSD if EUR strength is decreasing from above against USD strength and future predictions shows down-arrow for EUR and up-arrow for USD.

Example scalping EURUSD pair:
BUY EURUSD if EUR strength is above 0.6, USD strength below -0.6 and future predictions shows up-arrow for EUR and down-arrow for USD.
SELL EURUSD if EUR strength is below -0.6, USD strength is above 0.6 and future predictions shows down-arrow for EUR and up-arrow for USD.

Summary
Buy currency with strong strength against currency with weak strength.

I am currently analyzing other patterns in currency pairs based on the strength levels. I share this indicator (link below) as I see good potential in it for short-term and scalping trading style. Also other experienced traders can share their thoughts and experience with this indicator.

More examples and trading tips comming soon…

DOWNLOAD LINKS

CurrencyStrengthSystem [4shared Link]

CurrencyStrengthSystem [MEGAUPLOAD Link]

CurrencyStrengthSystem [zSHARE Link]

[CurrencyStrengthSystem_v2.0.zip"]CurrencyStrengthSystem [MediaFire Link]](http://www.mediafire.com/?e2y5myzqxyi)

Note: For some reason (may be admin knows :-)), I could not upload the zip file using the forum file manager, and so I had to upload at different file hosting servers and paste the link here.

Cheers!
Arun

2

i dont like the idea of adding .dll files
edit - link dont work

3

The indicator will not work with out the dll files. The download link works. I checked the link. It is uploaded on 4shared file hosting server.

4

.dll files can also do some pretty bad things to a computer about the link it just doesnt work says IE cant load the page

edit - could u just put the files in a folder, zip it and then upload it to the thread?

5

Seems very nice man, and very clever! Will gladly test as soon as my net speeds up

6

Hi hellogoodbye4201,

I can understand your point with the DLL’s. Since I used some third party C++ data classification library, currently the indicator prediction works only with external DLL’s.

Anyway soon I will post the same indicator without future predictor (DLL library). Then you do not require the DLL’s, but the indicator cannot show future predictions.

I tried to upload first using the tools available here but for some reason it always failed.

Thanks,
Arun

7

Thanks Sim, Looking forward for your results and suggestions.

:slight_smile: Arun

8

Yeah btw there is something definitely up with the uploading/downloading of attachments here! So good idea to use a different site to upload

9

Hey thanks for the notice. I have added now various other options to download. I hope one of them should work.

:slight_smile: Arun

10

i try to download ur file at my platform but i think i missing something
when i open indicator in my 5min chart i cant see currency strenght i can see only horizontal lines can u pls help me

11

Hi romio,

Please check the following

If you copied the mql2svm.dll to \libraries folder?
If you copied mql2svm.mqh to \include folder?
If you copied “csa” folder to \libraries folder?

If you have followed all instructions, I guess it could be because of the missing data of all curencies in the history.

Do you see any messages in the terminal? like [B]“Data error ZERO value”[/B]

Solution:

  1. Restart Metatrader
  2. Load indicator wait for a while so that Metatrader updates history of required currencies. Remove indicator and reload a couple of times or restart Metatrader.
12

i did it same way u told now i remove indicator and reload again we will see i let u know

13

Could you check if you see [B]“Data error ZERO value”[/B] error in your metatrader terminal window?

Is the decimal point in your metatrader chart 4 point or 5 point?

Arun

14

i didnt see any error any other way i can see error
SIGtrader they have 4 point
thanks for reply buddy

15

Hi romio,
Did you check the option “Allow DLL imports” in your metatrader Options dialog. You can access Options dialog from menu Tools>Options. Then go to “Expert Advisors Tab”

The option “Allow DLL imports” should be checked & “Confirm DLL function calls” option should be unchecked.

I tested again the indicator on a newly installed metatrader on a different system. After the first load it took some time to update history. Error messages are seen in the metatrader logging Terminal Window -> Experts Tab. After reloading the indicator everything worked fine.

Let me know if this helps
Arun

16

thanks for the additional uploads, it looks good but it sure would be nice if it told u how far it would go in the predicted direction lol

17

Ok it works now. Yes you are right, the predictor gives me the values. I could display them too. I will add this feature in my next version.

Thanks,
Arun

18

My suggestion is to follow and study the daily Forex News and Analysis of the professional currency analysts. Even though Forex Trading Systems is based solely on technical analysis of charts, it is important to get a birds-eye view of the foreign currency marketplaces and the news that affects the prices. It is also important that you know and understand what the key technical ‘support’ and ‘resistance’ levels are in the currency pair that you want to trade.

19

I agree with you. Forex is a broad field and one need to look at it with birds-eye view.

I follow fx360 & dailyfx regularly, but on the other hand FX is also highly volatile and unpredictable. My opinion is if mordern data mining techniques cannot find patterns in the market data, it is difficult to predict based also on experience. What I am doing in my work is only research and I do not intend to use it live in near future.

20

Wow. Looks neat. I look forward to watching this on some charts. If you don’t mind answering - What type of information does it take into account for its predictions…price action, patterns, indicator values? Just curious :smiley:

Also, does it work properly with both 4th and 5th decimal platforms?