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Simple Correlation Indicator System

  • #161
  • Jun 18, 2016 6:15am Jun 18, 2016 6:15am
Quoting kirkleaforex
it seems there is a case to consider using the synergy volatility indicator. One thing i need to keep reminding myself as i continue striving to perfect this strategy, is that i don't need this system to catch every move, but i am hoping it will catch every sustainable move. Currently on the eu 5m chart there looks to be the start of a nice downtrend. The tdi agrees, and the 15m chart correl8 signals a sell also...do i take it? The h1 correl8 is still showing a buy signal, and on the 5m chart, the synergy volatility indicator shows a lack of volume....
please what volatility indicator do you use?
  • #162
  • Jun 18, 2016 8:24am Jun 18, 2016 8:24am
Quoting justomonla
{quote} please what volatility indicator do you use?
Hi justomania...it is the Synergy Pro volatility indicator. I do not have the right to share it here, but you will find it with a quick search for the Synergy Pro system.

Good luck with it; it really helps me to identify when a potential signal has enough power behind it to get into the trade.
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  • #163
  • Jun 18, 2016 8:26am Jun 18, 2016 8:26am
Quoting Kanderpro
Hello kirkleaforex, I just discovered your thread a few days ago via Darryl, to whom I'm indebted for his contributions to this thread and the High Flying Trading thread. Thanks for your work here. I'm hoping the correl8 indicator will help me refine my current strategy on the Daily and 30m charts, where currently I'm not interested unless I see a candle that closes beyond the PAC and is the 3rd tap on a 3-tap trendline, or there is distinctive reversal PA. After years of not "getting" the TDI in the way others have with crosses, I now only use...
Hi Kanderpro and welcome. I hope you find what you are looking for here. Stick around as there are some exciting developments happening.
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  • #164
  • Jun 18, 2016 8:31am Jun 18, 2016 8:31am
Quoting fredix
Maybe I'm wrong but I've too noticed differences between brokers, although it was with another indicator. I narrowed the problem to the quantity of ticks received. This is I guess different from broker to broker and can affect the indicator's "decision". The solution was to base the indicator on the OnTimer event, while OnCalculate just provides its parameters. Not sure it works the same for you. My indicator is a kind of iBulls() & iBears(). But as the correlation indicator calculates from prices of several currencies, they may be not received...
Hi fredix and thanks for your contribution. I am not a coder so I am unsure how to respond to your suggestions, but I have forwarded them to the person I have coding for me to look into it. Hopefully we will get this sorted soon for those users experiencing this issue. Thanks again.
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  • #165
  • Jun 19, 2016 11:49am Jun 19, 2016 11:49am
in mfx broker icorel indi not shown the correct one, because not XAU USD but GOLD USD
can anyone help me ?
Attached Image (click to enlarge)
Click to Enlarge Name: GOLDM30..jpg Size: 133 KB
trading and investing wisely
  • #166
  • Jun 19, 2016 11:57am Jun 19, 2016 11:57am
Quoting merlion
in mfx broker icorel indi not shown the correct one, because not XAU USD but GOLD USD can anyone help me ? {image}
look at post 137 and change XAU in the suffix to Gold. That should solve the issue.
(.)(.) think first ...
  • #167
  • Jun 19, 2016 6:47pm Jun 19, 2016 6:47pm
Just a quick update to advise that my coder has not finished the job as yet so I am still not able to start testing. I will advise as soon as I have a working prototype.

In the meantime, and in line with how "fluid" this thread and my strategy needs to be, I need to advise that I have again refined the rules for the strategy and the indicators used.

As much as I found the TDI useful, I was finding my charts looking too "busy", and I felt the need to further simplify things. And that's when I discovered the QQE, or Quantitative Qualitative Estimation indicator. This indicator is roughly based off the RSI, however the algorithm used is different and offers a smoothing factor. It is well known for rarely offering up false signals, and has practically no lag.

I have back-tested this against the Correl8 and found it very handy when identifying entries and exits, and so I have incorporated the QQE into my strategy. Another great point to make is that the QQE indicator that I am using has a built-in alert system which offers everything I wanted for the Correl8, i.e. painted arrows, screen pop up, sound, email and push notifications.

I am forward-testing both the short and longer term strategies on AUDUSD, EURUSD, GBPUSD and NZDUSD this week, and will post results over the weekend.

Please note that this latest change will be my last for a while. I am happy enough with the results I am seeing now to warrant staying with it. I will post a .pdf file fully detailing the full system and it's rules soon. But for now, please refer to the screen shot examples as a visual guide for what I am now doing.

These next three screenshots are for the short term trading strategy. The fourth is for the longer term strategy which utilises the H4 Correl8 and the H1 QQE, but the rules are slightly different.

1st screenshot - shows a QQE 15M signal on the EURUSD. Need to then wait for confluence from the H1 Correl8;
2nd screenshot shows the H1 Correl8 cross signal occurring shortly after the QQE. Need to wait now for entry signal from 5M chart.
3rd screenshot shows the 5M chart showing the QQE and Correl8 signals. Entry and exit and re-entry examples are based on signals from EITHER the QQE and / or the Correl8, i.e. QQE cross back over signal line is a definite exit, however a Correl8 combined line value of 20 or less will also generate an exit signal.

4th screenshot shows a longer term trade example for the NZDUSD, and uses the H4 Correl8 along with the H1 QQE indicators. All trading decisions are based off the one chart. A correl8 H4 cross determines underlying strength and trade direction, then all entries, exits and re-entries are generated by the H1 QQE signal.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSD M15 QQE signal.png Size: 76 KB
Click to Enlarge Name: EURUSD H1 Correl8 and M15 QQE together.png Size: 86 KB
Click to Enlarge Name: EURUSD M5 Trade entry example.png Size: 86 KB
Click to Enlarge Name: NZDUSD H4 and H1 Trade example with re-entry.png Size: 69 KB
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  • #168
  • Jun 19, 2016 7:14pm Jun 19, 2016 7:14pm
Kirkleaforex great thread and technique, plus you make it fun the way you share all this.

I've got all my charts (12) set up to watch the 15 and 30 minute charts with the current and higher time frame correl8b mod indies on each chart.

Then I have a 3 sma shifted 3 periods to compare to the current time frame correl indi and a 6 sma 6 shifted to compare to the higher time frame.

I'm just starting with this and will post some trades this week to show how I hope to make trades.

Just got 24 pips going long eurusd at 1.1321 and got out at 1.1345 which was an untouched daily pivot from June 10th. I was just looking for the 15 minute correl8b to be trending as the euro line was above the dollar line and the same was in the 30 minute correl8b and then price pivoted under the white moving average and my stop was under that low.

Live trade but chart doesn't show the trade cuz the indi doesn't work on that platform.



Attached Image
  • #169
  • Edited 11:39pm Jun 19, 2016 7:23pm | Edited 11:39pm
Attachment
Introducing the Strength Separation Strategy.

After way too many screen hours and far too much analysis I have finally finalised my strategy. It is still reliant on the Correl8 indicator, which I have come to really like and understand. It has a great companion in the QQE, and between the two, and in using multiple time frame analysis, this for now seems a robust system which is capable of producing great results.

Please download and read the attached .pdf file. All additional indicators that I use that are not already posted in this thread are attached.

EDIT: Have found several errors in the .pdf file - some changes have been made to clarify ideas and correct these errors. Please download the latest version update if you have already downloaded the previous version containing these errors.

I have provided a screenshot of the settings I use for the QQE indicator. These are the settings I find are working for me currently on the forward-tested pairs.

Please note this is for testing purposes only, and should not be used on a live account until such time as it has been shown to be working as intended.

I will provide any and all forward-testing results at the end of each week. This week I am concentrating on the AUDUSD, EURUSD, GBPUSD and NZDUSD. Next week I will work on USDCAD, USDCHF and USDJPY. From there I will start on other pairs that comprise the list of 28.

Based on forward-testing results, I will ask my programmer to code this fully revised system into the EA he is currently working on.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 58 KB
Attached File(s)
File Type: ex4 QQE averages histo + alerts + arrows.ex4   109 KB | 1,547 downloads
File Type: mq4 QQE averages histo + alerts + arrows.mq4   34 KB | 1,924 downloads
File Type: ex4 ###Auto Pivot.ex4   23 KB | 1,270 downloads
File Type: ex4 =CandleCountdown(ProfitF).ex4   8 KB | 1,300 downloads
File Type: pdf SSS The Strength Separation Strategy.pdf   298 KB | 4,702 downloads
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  • #170
  • Jun 19, 2016 7:27pm Jun 19, 2016 7:27pm
Wow, impressive looking swing trading system!

Look forward to seeing your results Kirkleaforex.
  • #171
  • Jun 19, 2016 7:30pm Jun 19, 2016 7:30pm
Quoting Poocher
Kirkleaforex great thread and technique, plus you make it fun the way you share all this. I've got all my charts (12) set up to watch the 15 and 30 minute charts with the current and higher time frame correl8b mod indies on each chart. Then I have a 3 sma shifted 3 periods to compare to the current time frame correl indi and a 6 sma 6 shifted to compare to the higher time frame. I'm just starting with this and will post some trades this week to show how I hope to make trades. Just got 24 pips going long eurusd at 1.1321 and got out at...
Poocher welcome to the thread and congratulations on your win. I am happy you are finding success with this. I also enjoy reading about how people are trying this system out in their own way. Everyone is different and we all see the market in different ways.

What works for me is not guaranteed to work for anyone else as we all read market information differently, but hopefully the system itself and the signals it provides will assist toward developing an edge for those who need one.

You will now realise that I have just posted an updated strategy with a full .pdf file explaining the strategy rules and much more. If you would like to test it out, please feel free to join me in a forward-test and post any results you get here. I am excited to be sharing such a promising system and I am looking for people to join with me in the testing process.
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  • #172
  • Jun 19, 2016 10:43pm Jun 19, 2016 10:43pm
Early indications from trading some of the majors during the Asian session are: this is working.

Too early to tell I know, but it feels good so I thought I would post my first ever trading statement after 5 winners in a row and a 6th in profit.

Keep in mind this is being tested on a AUD$1000 demo, which is the amount I will be depositing when I decide to go live with this strategy. I am using a 5% risk per trade as I am feeling more confident than usual about the signals. Ordinarily I would not recommend any more than 2-3 % risk per trade.

I won't keep posting these statements each day, but I just wanted to share with you an early picture of how promising this has been over the first few hours of live forward-testing.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 54 KB
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  • #173
  • Jun 20, 2016 1:19am Jun 20, 2016 1:19am
Quoting kirkleaforex
Early indications from trading some of the majors during the Asian session are: this is working. Too early to tell I know, but it feels good so I thought I would post my first ever trading statement after 5 winners in a row and a 6th in profit. Keep in mind this is being tested on a AUD$1000 demo, which is the amount I will be depositing when I decide to go live with this strategy. I am using a 5% risk per trade as I am feeling more confident than usual about the signals. Ordinarily I would not recommend any more than 2-3 % risk per trade. I won't...

Awesome!, keep it up, keep us updated
  • #174
  • Edited 2:17am Jun 20, 2016 1:23am | Edited 2:17am
Trade Manager account opened for the SSS Forward Test.

As both the Administrator of this thread and the forward-tester of the overall strategy, I feel it imperative to remain honest, open and transparent, not just to myself, but to anybody reading this, so that realistic expectations are formed and actual results are recorded.

Furthermore, any recorded data can be more easily broken down and analysed in order to refine the strategy in terms of wins and losses during different trading sessions, which currency/ies perform better using this strategy and so on.

Feel free to check out the link: HERE

EDIT: 1st loss after 6 consecutive wins...was going to happen, especially as I took a bad signal on the NZDUSD. The QQE indicator is very similar to the RSI, and I entered a BUY after a cross of the signal line well above 0, well into overbought territory.

Very silly thing to do...I should have known better...a mistake to learn from!
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  • #175
  • Jun 20, 2016 4:40am Jun 20, 2016 4:40am
All signals are at odds with each other...see screenshot of the H1 Correl8 compared to the 15M QQE

The Correl8 is still in a buy across the board where the 15M QQE is signalling to sell.

The EURUSD chart is the only one to suggest any possible action upcoming; we can clearly see a convergence of the value lines, with the combined separation value currently sitting at around 30 or below.

Like Mark Douglas is quoted as saying: "All I know is that something is going to happen."

So it is time to stand aside until we see some confluence between all TF's. We can speculate all we like but until we get a clear directional signal with some momentum behind it, I will stay away for now and wait until MT4 starts to ping my phone with trade signals.
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 262 KB
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  • #176
  • Jun 20, 2016 6:17am Jun 20, 2016 6:17am
LONG TERM live SELL trade on AUDUSD.

In line with the basic rules of the Longer Term strategy, i.e. Correl8 H4 chart needs a combined value of <=20 and then we take our signal from the H1 QQE.

See screenshot - and this is what we have. This is my first trade example for the Long Term entry, so this is a great forward-testing opportunity.

SL is about 26 pips away, just beyond recent high at 0.74712. There is no TP target; we just wait for a reverse cross on the H1 QQE and exit then.

And take whatever comes
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 234 KB
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  • #177
  • Jun 20, 2016 6:00pm Jun 20, 2016 6:00pm
Quoting kirkleaforex
1955283 Introducing the Strength Separation Strategy. After way too many screen hours and far too much analysis I have finally finalised my strategy. It is still reliant on the Correl8 indicator, which I have come to really like and understand. It has a great companion in the QQE, and between the two, and in using multiple time frame analysis, this for now seems a robust system which is capable of producing great results. Please download and read the attached .pdf file. All additional indicators that I use that are not already posted in this thread...


Please can you upload your templates? Thank you
  • #178
  • Jun 20, 2016 6:20pm Jun 20, 2016 6:20pm
kirkleaforex thanks for the great system and also for posting your promising early results.

can i ask what timeframe those trades were taken on? also do you think this is tradeable on d1 charts?

thanks

Quoting kirkleaforex
Early indications from trading some of the majors during the Asian session are: this is working. Too early to tell I know, but it feels good so I thought I would post my first ever trading statement after 5 winners in a row and a 6th in profit. Keep in mind this is being tested on a AUD$1000 demo, which is the amount I will be depositing when I decide to go live with this strategy. I am using a 5% risk per trade as I am feeling more confident than usual about the signals. Ordinarily I would not recommend any more than 2-3 % risk per trade. I won't...
  • #179
  • Jun 20, 2016 7:51pm Jun 20, 2016 7:51pm
Quoting aelimian
{quote} Please can you upload your templates? Thank you
Hi there and thanks for your interest in this thread!

I have attached 3 templates:

1) the long term which shows the H4 Correl8 with the H1 QQE
2) the medium term which shows the H1 Correl8 and the 15M QQE
3) the short term template, which shows the 5M Correl8 and the 5M QQE.

Please download all available indicators posted in this thread to ensure you get everything you need to display the charts correctly.

I hope you have success!
Attached File(s)
File Type: tpl Long Term template.tpl   86 KB | 1,178 downloads
File Type: tpl Medium Term template.tpl   96 KB | 1,091 downloads
File Type: tpl Short Term template.tpl   201 KB | 1,087 downloads
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  • #180
  • Edited 8:32pm Jun 20, 2016 8:28pm | Edited 8:32pm
Quoting blamshakk
kirkleaforex thanks for the great system and also for posting your promising early results. can i ask what timeframe those trades were taken on? also do you think this is tradeable on d1 charts? thanks {quote}
Hi blamshakk and thanks for your interest here.

Results haven't been so promising as of last night; I blame myself for not sleeping for over 24 hours and just not seeing things clearly. Took a signal before the close of a candle and it went pear-shaped...just goes to show, if you don't follow the rules, you get burned!

It will be different when I have the alerts coded into the Correl8 indicator; that way I can come to the screen IF and WHEN there is a set-up signal sent to my phone. I hope this isn't too much longer!

Anyway, I am certain that this is tradeable on a D1. I would combine the D1 Correl8 with the D1 QQE...see screenshot.

The white diamonds are the signal for the crossover of the signal line (wait for the close of the candle!) and indicate possible entry and exit points. In the settings you can make visible the alerts for a zero line cross also, but I find this makes the charts look too busy, so I colour them the same colour as the screen background so they don't show...the alerts still come through, just not the arrows.

I have not tried out this system on the D1, so cannot recommend settings for the Correl8 separation values, but I have no doubt they would be the same as any other TF. Personally, I would set up the alert for the QQE from the Daily, then switch to the H4 charts and time your entries and exits from the next available signal from there. Means you can tighten up your SL, and the potential for a large move against you during a fundamental announcement is reduced considerably. But if you a long term swing trader, no doubt these things aren't of much concern...

Best of good fortune to you!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 50 KB
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