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TheBeast

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Posts posted by TheBeast

  1. I use this. Its a very good software. And you receive a indicator that already plot the levels in MT4.

     

    Hi, could you perhaps be so kind and post a screenshot please? Had a play with the AUD levels (as this is available in demo) and struggle to work out how to use the levels it calculates...

    Also, how often do you update the levels? On a daily basis or only at beginning of the week?

    Many thanks!

  2. Hi. The script are right. Strange you get diferent numbers because both are using the correct spreadsheet.

    Thanks for checking. Glad to hear the website is OK.

    Sorry to be a pain could please confirm you guys are using the one that was posted here:

     

    Thanks

     

    Added later:

    right... I figured out why I get different figures. I think it has something to do OpenOffice imports data. Tried it with Excel and gives the same figures as you guys get... Very weird.

  3. Hi c0py, i was waiting for this a long time. Thank you very much my friend. The entire community should thank you for that. I will try and give ideas for possible improvements. Thanks again.

    I agree, we should be very thankful for c0py's efforts!

     

    @ c0py: that is strange... I also use the EUR-USD_v1.1 spreadsheet I get different Put levels... Perhaps either of us has a corrupted version :(

     

    @ guedesjunior25: as you are the expert on the subject, could you have a look at the levels that are published please?

  4. The distance between each open price is not relevant.

     

    All we need to do is calculate the distance from open to each power level on PAIR1. Then draw lines on the correlating pair (PAIR2) with the same pip distance and direction.

     

    Hopefully that explains it a bit better, I may be completely wrong but I am just thinking out loudly :)

     

    What I'm getting at is that you can't just copy the pip distance found at pair 1, across to pair 2 as 1 pip on pair 1 is not the same as pair 2 due to the difference in value.

     

    That is why you can't for instance make a perfect hedge by going long 1 lot EURUSD, short 1 lot GBPUSD and short 1 lot EURGBP as this would NOT not balanced. Same goes for copying levels across different currency pairs...

  5. ...

    Example

     

    GU -> EU Correlation

    --------------------

     

    GU Open (20/06) = 1.61634

    EU Open (20/06) = 1.42762

     

    GU Power Levels:

     

    1.62125 - Distance from GU open = +49pips

    1.61840 - Distance from GU open = +20pips

    1.61170 - Distance from GU open = -46pips

    1.60890 - Distance from GU open = -74pips

     

    Add these 4 GU lines to EU chart using the following calculation:

     

    EU Open price +/- distance to open on each line from GU

     

    Example:

     

    1.42762 +49pips = 1.43252

    1.42762 +20pips = 1.42962

    1.42762 -46pips = 1.42302

    1.42762 -76pips = 1.42002

     

    Enjoy! :)

     

    Thanks for sharing your train of thoughts. One thing I would like to run by you.

    I can see where you are coming from but I think if you want to copy those levels across you should take into account the difference in the value of 1 pip for each pair.

     

    Have a look at the open prices:

     

    GU Open (20/06) = 1.61634

    EU Open (20/06) = 1.42762

     

    If you divide the two you will see there is a difference of ~13%. To be completely accurate I'd say you should take this percentage into account when copying your pip differences across the currencies...

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