DislikedI'm wondering: What if that third one repaints?
You wait for a blue signal. Some turn red, some remain blue. After you see the third one you enter. You're now long and price begins to drop, and drop. Suddenly you see that the "third blue" turns into red and the next one is also red.
Do you use SL's?
What if, after all this, you enter short in that third red, and the same happens again turning into blue?
Since there's no way of knowing the past changes with this indicator, there's no way of back-testing.
With your mathematical background...Ignored
There has already been a post set forth earlier showing the testing results of the GU 1H over the past six months. Those results were based on a 24 hour operation running an EA which signals almost exactly in sync with the TGV2 but does not repaint. Unfortunayely, that EA is not available for MT$ platforms. So what? You do not need it anyway.
Obviously, any pair you trade on ANY TF needs to be traded during peak market operational times. Review Gleneagles post and indi setup which clearly is a great tool to add to your tool box in order to ascertain optimum trading times.
In order to ease all the anxiety, have attached a chart of the GU with some really simple indi's. In fact, it has nothing more than a primer (14 WMA) and a trigger (Trix). Also added a ATR so you can ascertain the candle range upon signal generation.
Through some HA candles on those MT4 screens and try it. In fact, compare it to ANYTHING you have and you will see that looking for indi's and trying to figure out repainting issues is a waste of time. Look forward to anyone providing a more concise triggering mechanism.
As with the 5M, it is right in front of you. Simply put a nice 50-70 TP and reverse signal SL and go make a few trades. Same setup works on ALL pairs.
Trading LIVE signals with no repainting may not look as pretty as some of those colorful little indi's, but you are not in this for visual stimulation as pertaining to the color spectrum are you? TRADE!!!!!!!!! LIVE or DEMO!!!
You are getting no benefit from indi research as it provides no experience and costs valuable trading time.
Regards.