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Trading systems under current development with flawed indi's

  • #1
  • First Post: Edited 4:55pm Jan 13, 2018 3:00pm | Edited 4:55pm
Hi fellow indicator fans!

A programmer by trade, around 2000 I got acquainted with MetaTrader and the Metaquotes Language. I rarely join discussions on ForexFactory, but lately I did, and got blocked and ignored in no time. This was for pointing out a flaw in an indicator the topic starter introduced (not wrote!). I did this, mentioning the particular lines in the code and pointing out what the problem is. Nobody cared and continued their merry chitchat! Now, I got a little pissed as well (ForexFactory, what is this policy: "disliked by the threadstarter"? Not convenient? Away with this!).

Anyway, the thread is "Only SELL Scalping (80%+)" and the indicators are

"cross"
"Wave_Dots".

What is wrong with these is so basic that it's kids play, but it's enough on this forum to get blocked and ignored, so I decided to hierarchically escalate this and make it a universal statement against people who waste their time with nonsense.

The first indicator has "previous" in the name of a variable where the index is with 1. Voila, l'indicateur clairvoyant!
The second, a little less dumb, violates the rule to let your loops run in the same direction the bars develop. At the same time, it sets a condition during the loop, which thus gets set in retrospect and obviously is always right

To give people a place to share their kind concern, I would like to propose this thread.

A list of known proven flaws in indicators. Of course there may be corrected versions as well around, but "spotted in the field" qualifies.
  • #2
  • Edited 3:30pm Jan 13, 2018 3:02pm | Edited 3:30pm
cross.ex4

In the cross.ex4 indicator there is a funny mistake and it seems to be written by an inexperienced programmer. Have a look at the source and notice the lines:

Inserted Code
double iMaSlowPrevious = iMA(NULL,0,SlowPeriod,0,MODE_EMA, PRICE_CLOSE, i-1);
double iMaSlowCurrent = iMA(NULL,0,SlowPeriod,0,MODE_EMA, PRICE_CLOSE, i);
double iMaFastPrevious = iMA(NULL,0,FastPeriod,0,MODE_EMA, PRICE_CLOSE, i-1);
double iMaFastCurrent = iMA(NULL,0,FastPeriod,0,MODE_EMA, PRICE_CLOSE, i);

where ___Previous is addressed with the index i-1, where it should be i+1. i-1 is the future next bar, so the results are very nice
Attached File(s)
File Type: mq4 cross.mq4   2 KB | 385 downloads
  • #3
  • Edited 3:30pm Jan 13, 2018 3:07pm | Edited 3:30pm
Wave_Dots.ex4

Inserted Code
   for (SH=0;SH<=NB;SH++)//comb out the chart from 1 to NB
   {
      for (R=0,i=SH;i<SH+10;i++) {R+=(10+SH-i)*(High[i]-Low[i]);}      R/=55;
      SHMax = High[Highest(NULL,0,MODE_HIGH,Per,SH)];
      SHMin = Low[Lowest(NULL,0,MODE_LOW,Per,SH)];
    
      if (Close[SH]>SHMax-(SHMax-SHMin)*Otstup/100 && UD!=SH_BUY) { BufD[SH]=High[SH]+R*0.5;  
      if (Close[SH]>SHMax-(SHMax-SHMin)*Otstup/100 && UD!=SH_BUY) UD=SH_BUY;
      if (Close[SH]>SHMax-(SHMax-SHMin)*Otstup/100 && UD!=SH_BUY) y=0;//x=x+1;
        
    
      
      }
      else
          
    
      if (Close[SH]<SHMin+(SHMax-SHMin)*Otstup/100 && UD!=SH_SELL) { BufU[SH]=Low[SH]-R*0.5;  
      if (Close[SH]<SHMin+(SHMax-SHMin)*Otstup/100 && UD!=SH_SELL)UD=SH_SELL;
      if (Close[SH]<SHMin+(SHMax-SHMin)*Otstup/100 && UD!=SH_SELL) x=0;//y=y+1;
  
      }
  
   }

see the "SH=0;SH<=NB;SH++"? this is where the indicator moves through the individual bars on the chart. But, which is very important here...from the freshest bar, back. Then behold, the magic of this indi: the if() with && UD!=SH_BUY as a condition? In the line that follows the condition is set: UD=SH_BUY; (and the same for SELL).


Make that first line
Inserted Code
for (SH=NB;SH>=0;SH--)
and see the difference for yourself. No more knowledge of "bars to come"!
Attached File(s)
File Type: mq4 Wave_Dots.mq4   10 KB | 413 downloads
  • #4
  • Jan 13, 2018 3:54pm Jan 13, 2018 3:54pm
flofri

well thought out and helpful comments

Can you put forward any non-repaint (but maybe lagging indicator) that would be useful for day trading?

Thank you
  • #5
  • Jan 13, 2018 5:10pm Jan 13, 2018 5:10pm
Hi Rafaz1, as much as I would like to give you an answer, an honest answer is a big deal [deleted a big deal of preachy stuff]. As a rule of thumb, there are none, and yet, sometimes, something seems to fit... your approach!
  • #6
  • Jan 13, 2018 11:17pm Jan 13, 2018 11:17pm
Quoting flofri
cross.ex4 ....
I cannot open cross.mq4. I opened cross.ex4...those dots are cross of 2 moving averages? f so which ones simple or exponential?
NO MATTER THE SITUATION,NEVER LET YOUR EMOTIONS OVERPOWER YOUR INTELLIGENCE
  • #7
  • Jan 13, 2018 11:42pm Jan 13, 2018 11:42pm
Subs. Thanks and
Regards
  • #8
  • Jan 14, 2018 3:43am Jan 14, 2018 3:43am
flofri,

In that case would you be able to help me with what moving averages should be used as standard/default on 1hr and 4 hr trading just to identify trend (if the trend is not obvious to the invisible eye)?

Are you able to modify the wave dot indicator so that it gives us a signal on the last candle (or X number of candles) but stays (does not re-paint) even if it turns out to be the wrong buy/sell signal?

Regards
  • #9
  • Jan 14, 2018 5:32am Jan 14, 2018 5:32am
Quoting Trader-Waldo
{quote} I cannot open cross.mq4. I opened cross.ex4...those dots are cross of 2 moving averages? f so which ones simple or exponential?
Strange, I tried to open it and goes fine. Anyway, it's an EMA cross, but with "enhancements". I can't recommend the use of it, but please try it.
  • #10
  • Jan 14, 2018 5:40am Jan 14, 2018 5:40am
Quoting Rafaz1
flofri, In that case would you be able to help me with what moving averages should be used as standard/default on 1hr and 4 hr trading just to identify trend (if the trend is not obvious to the invisible eye)? Are you able to modify the wave dot indicator so that it gives us a signal on the last candle (or X number of candles) but stays (does not re-paint) even if it turns out to be the wrong buy/sell signal? Regards
Dear Rafaz,

I could, but please accept from me that it is useless, also in the way you propose. Give it a swing when the market is open. The signal comes, just as with any indicator, then it disappears as time goes by, just to pop up on the most convenient bar again, giving the impression of being a million bucks tool. Who is served by that?
What you might need, is a well programmed indicator that does something with the data that is valid (i.e. based on set values) to presents information in a way that the eye might miss on a naked chart.
I have some suggestions to look into, but this is material for another thread!

https://www.forexfactory.com/showthr...&goto=lastpost
  • #11
  • Jan 14, 2018 6:03am Jan 14, 2018 6:03am
Really you dont must offend by that kind of bans. For example same guy dislike my comment too even i didn't answer to him. Every thread have different rules. Its evident he want sell something because he opened some threads about EAs with good performance in theory. Anyway people is free spend their time and money where they want. This is a loop in this forum...
Try don't lose pants never...
  • #12
  • Jan 15, 2018 5:04am Jan 15, 2018 5:04am
Quoting Rafaz1
flofri, In that case would you be able to help me with what moving averages should be used as standard/default on 1hr and 4 hr trading just to identify trend (if the trend is not obvious to the invisible eye)? Are you able to modify the wave dot indicator so that it gives us a signal on the last candle (or X number of candles) but stays (does not re-paint) even if it turns out to be the wrong buy/sell signal? Regards
Just to illustrate, this is what the indicator wave_dot gave today on this particular chart, all dots left in place.

Attached Image (click to enlarge)
Click to Enlarge Name: Wave_Dots.png Size: 22 KB
  • #13
  • Last Post: Jan 15, 2018 5:07am Jan 15, 2018 5:07am
Quoting braintheboss
Really you dont must offend by that kind of bans. For example same guy dislike my comment too even i didn't answer to him. Every thread have different rules. Its evident he want sell something because he opened some threads about EAs with good performance in theory. Anyway people is free spend their time and money where they want. This is a loop in this forum...
Thanks, of course your wise and kind feedback is much appreciated. I was not really only offended but also frustrated somehow that people can be blinded by fool's gold so easily and just don't listen. It is already hard enough to make something of trading without this kind of nonsense.
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