Currency Pair Heiken Comparison

[danhoyda 10]

Hi everyone! my name is daniel, I am relatively new to this forum and am so happy to be here because of the help I have recieved.

 

I would like to get some help on developing a code to do a certain kind of study for me.

I have plotted on various graphs on tradestation, currency pairs. I have noticed that the inverse of the GBPCHF is almost exclusively the EURGBP. I am plotting the heiken indicator on each of the currency pairs.

 

The study I would like to conduct is as follows, As one bar on a currency changes color the program will look to see if the same bar on the other currency has also changed color. If this happens at the same time, the program should log the price of the close of each and enter a position in the direction of the indication on each currency. (Red = short, blue = long). Once a position has been logged, the study will continue to analyse bars on each currency and should one change color (on the close) the price will be noted (and theoretically position is closed)

 

I do not have very much experience with easy language so any help would be appreciated. Thanks!!

 

Dan

[ValueTrader 10]

http://www.tradestation.com/~/media/Files/TradeStation/Education/University/School%20of%20EasyLanguage/Books/EL_Essentials.ashx

 

http://unicorn.us.com/trading/ELreference2000i.pdf

 

http://www.tradestation.com/~/media/Files/TradeStation/Education/University/School%20of%20EasyLanguage/Books/EL_FunctionsAndReservedWords_Ref.ashx

 

The links above may help you get started.

 

Try Posting what you've already coded so far. Folks will be more receptive to helping if they can see you've had a go yourself. There are some incredible talented guys on TL when it comes to coding, (Thanks to there help I'm now at the stage where I can very crudely code almost anything that pops into my trading head.) But if I'd just received completed codes requested, I'd still be stuck requesting now.

 

Give a man a fish and he eats for a day, Give a man a fishing rod & he eats for life.

 

Good Luck

 

VT

[zdo 20]

Dan,

 

Don’t have time to write any code but maybe this will help…

One way to approach this would be move your HA calcs to a function that returns 1 for up, -1 for dn, (and 0 for neither) . (btw I do have a modifiedHA function that does the binary return mentioned above plus the HA high, low, etc via numericref – PM me with an off forum email that will take attachments if you need it.)

Load your pairs to a chart via data1, data2, etc. (or use the newer oo priceseriesprovider data objects) and save the HA for each data# to an array when barstatus(#) = 2.

Then run your decoupling comparisons via loops through the array.

 

btw…speaking of correlation

HA correlates extremely well with ema - so for this type of study you could use the closing direction of ema as well.

 

hth