Just as an aside -- even if manual-drawn vs indicator-drawn are a bit different -- who's to say which is better to use? Clearly indicator-drawn has the advantages of (a) quick, and (b) reproducible. For manual-drawn to be better it would need to be demonstrated in a trading environment along with an explanation. I've never seen that. The anti-indicator crowd (and "boundless thinkers") simply say it can't be done. I suspect the truth lies somewhere in between -- manual, discretionary trading can yield better results, but at the price of tedious drawing and watching a screen for hours on end. Automated (or partially automated) trading may yield results that are "good enough" -- but you can then spend all that free time walking your dog.
I did a quick test and, in my hands, it does not repaint. However it does "recalculate" -- i.e. the most recent bar (index '0') changes. Recalculating is perfectly fine because we rarely trade on bar (the bar that is currently being formed).
@SwingMan -- I understand the indicator was just for Isabella -- I hope you don't mind if I add it to my trading template. Again -- thanks very much.
That's why I recommended it Isabella for testing, because besides being a wonderful girl , she is a very experienced and critical trader.
For once you can test him too! Once again: I am honestly surprised how quickly you can recognize relevant things!
The indicator is smarter than any other oscillator, and at some point I will reveal its secrets, now it is too early and has nothing to do directly with your thread.
Today I checked for example trades from other threads (Pivots, TDI, Cycles, etc.), and for all, the indicator has delivered identical signals.
Now for your comments, because I did not actually test the indicator at all... I'm doing this today because bar 0 should not change. Maybe I have to make a change, let's see.
I do not understand the question with the years: I am a member since 2007, and you since 2017. Where have you been hiding all these years?
Later EDIT: With a proper quote that member will be notified so he will respond faster.
Wow -- All this time I was doing it manually and never noticed (since I rarely click on my own posts). And here I thought I was good at paying attention to details -- guess not. I will make a better attempt at proper quoting because, in general, I would like the member to be notified. Thank you so much for pointing that out!!
And you don't need "@" anymore. Old habits die hard. lol
Robots4me's dog seeing his master furiously replying to the ff thread...
The indicator should actually be a "forecast" indicator, that means when at Open of the Price bar 0 the oscillator has a certain color and value, the oscillator does not change until Close.(Secret 1 of the indicator ...)
I have now tested the indicator on M1, and it's just as I described above.
1. Is this a RickM "side trade" which Rick looks for as he waits for George style trades? ( Rick you can advise lol). Rick explains his method at post 335 and 336 in this thread (page 17)
2. Robot4me's MTF level indicator which I love incidentally The MTF levels are a great help.
3. The TMA true on the M15.
If this trade is a proper specimen, it might show confluence of the line chart showing the intention of the MM with its very specific trendline fit ( the RickM method), the TMA true levels and last but not least Robot4me's levels (the orange H4 line was touched by the candles - remember this is the line chart of the closes.)
Just experimenting. This is live now, at not a great time of day perhaps ( US afternoon EST ) and of course there could be a lot of pilot error (me). I came in later than Rick might have possibly - and it might not even be "correct".
Actually, it's not an old habit. If you and I were to speak in person there would be lots of eye contact and I would mention your name from time-to-time. For me, using the '@' is both a sign of respect and, also, an indication that I am speaking to you, @Weyk, and not some amorphous audience of people out there. Also, when used within a bunch of other text the @Weyk stands out -- which is my intention.
As for whether others use it or not -- doesn't matter to me. Basically, it suits my style -- "old style"...
Could you please elaborate what the colors means?
Suppose I attach an indicator to an H4 chart. MT4 sends a tick at the beginning of each time frame -- that is Open. Also, during the next 4 hours there will be additional ticks (perhaps several per second). If the price is higher than anytime previous during the current 4-hour period then the High will move up, and the same with the Low. The Close is equivalent to the current Ask. So, let's suppose we reach the end of the H4 period -- does MT4 send a final Close tick -- NO!! The final Close price is the last tick before the new Open. But you don't know when that was -- it could have been a few seconds before the top of the hour or several minutes before -- it depends on the symbol and time of day. So, during the formation of the current H4 bar the Close price (i.e. Ask) is constantly changing and depending on the graphical elements used by the indicator this may or may not be apparent.
So -- how does one avoid recalculating? You'd use a CheckNewBar() function -- i.e. ignore all ticks until you receive the first tick for the next bar. Below is a snippet of code as an example. You would place this at the beginning of start() or OnCalculate() and if it returns 'false' then immediately return.
static datetime saved_time;
if (Time == saved_time)
saved_time = Time;
Sorry to bore everyone with this -- my response was intended for @SwingMan. But this issue about ticks and bars frequently comes up among developers and it's important to understand since MT4 has many quirky things about it. Even for non-developers -- it shouldn't be too difficult to follow.
@SwingMan -- if this is old news to you I apologize. Again -- it's a beautiful indicator and I am currently using it. I think it complements the target level lines approach very well. Thanks...
I would love to learn more of your skills and trading. I have been trading for 9 years and have not seen anything about that indi on that level it has took my trading already to the next level. Thanks again would like to know more of your knowledge.
When I apply to my USDCHF chart the number of peaks/troughs look "different" to yours for the same period. I also have 3,1,1 applied to the zig-zag. Any ideas where I've differed from your settings?
Different broker, so different OHLC per candle.
I tested on M1, actually it does not repaint, ok.
But I do not understand everything else. Please give me an example:
- when do I search "explicitly"?
- what will be recalculated?
It is obvious:
- if a histogram is green, chances are good to go long, and short for red
- you "can" trade on the bright colors
- you should not do anything for the gray histograms (proprietary filter)
For more clarity: the histograms with dark colors correspond to favorable derivative grade 2 of a Mavg, and for light colors correspond to weak derivative grade 2 of a Mavg. Again, here is not right to discuss the indicator. Use the indicator at your own risk or not.
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