Method for Entry & Exit Condition

Hi,

thank you all for downloading my free trial versions.

As you may know, the last version offers much better input settings: You no longer have to search for best Pip_in_range or X_bars settings, the indi finds them for you automatically.
But it is also free to you, to find your own settings - you can adjust them manually in the inputs.
So if you have less signals, and want more, just reduce the pip in range or x bars for your current timeframe.

Please download the real version from here:



Contact me under [email protected] for purchase options.

Because there were so many mails from people asking for another trial version, I decided to upload another one; it expires on 24.12.



I worked quite some time on it; it covers an advanced algorithm that is aligned by two MAs and is suitable to changing market conditions.
As you will discover, there are several ways to trade it.
The indi gives good trend direction signals, but is also intended to give a good overview when ranges occur.

If during a recent time-period two contrary signals appear one after another, it is very likely that you will face a range now.
It is advised to mark the highest and lowest price, and to trade the price outbreak out of this range, which is promising.

On the other hand, when you feel that you have captured a nice trend riding signal, you just trade it until you get another opposite signal or get stopped out by trailing stop/ S&R level.
The best as what I have experienced is to switch the range filter (Pip_in_Range and X_Bars) to zero when you have already entered a good trend; an opposite signal will then most likely only appear when the trend has really come to an end or taken a pullback.
You can save this as template to be able to switch it on fast (ex. Exit_at_Trend).
This -switching range filter off or reducing both- is recommended for getting early signals on higher timeframes, H1 and above. As for lower timeframes I think it is too much signals.

One more thing: The arrow is 'only' being drawn on the first candle, not on the recent open one. And just by the way, it does not repaint.

Input description:
Intensity: Means short-term intensity
Win_Ratio: More long term sighted
pip_in_Range: This is the filter for ranging markets; put it to 0 and it is disabled (no longer in new version)
x_Bars: For how many bars, the filter is valid from first signal on (no longer in new version)
Sensitivity: The indi automatically detects best inputs for pip_in_Range and X_bars and configures the inputs;
you can select between low, medium and high


Old expired Trial Versions:

Given that both pictures are in H1 timeframe, I imagine that this should only be traded in H1? What pairs do you recommend?

No, of course not.
I also have tried it on 1 minute chart, just not enough live data gathered by now to give any recommendations.
Hence I do not have the necessary infos for best currencies or inputs, but this will be subject to investigations now.

For example, I've made these screenshots on 1 minute timeframe and Intensity: 13, Win-Ratio: 31



1 minute with default settings:



It performs more accurate on higher timeframes, as it is with most indicators:

If you switch off range filters, might be good on higher timeframes (Pip_in_Range and X_Bars to 0):

Those look pretty good. I've been getting quite a few false signals on my end. Default settings.

What exactly is the scale on the win ratio

The win-ratio on that was 31, the Intensity I think 13.
You must also switch the Pip_in_Range & X_Bars off (to zero).

Here is a beautiful example of how market makers try to trick us & hunt stop losses of retail traders.
A movement that looks like an outbreak, but is just a fake one.


No instrumentary will prevent you from this sort of fake movement, therefore we have to behave carefully.
However, in the end outbreaks are still quite lucrative.

Some other example on GBP/USD:

This is a good example of how the indicator works:
Quite often there are good trend pointing/ following signals, but sometimes ranges occur, in which two (or more) contrary arrows will be shown.
Just trade the outbreak out of such a range; the win probability is quite high.



This by the way is with Intensity 13 and Win-Ratio 31.

A good guy here on ff has contacted me, telling me that he has tried the indi on a Renko Chart, with 2 pips renko boxes and default settings.

This is what he got:



I think it makes sense to observe the indicators behaviour on Renko Charts, especially of high trending (less ranging) currencies.

Quick question for backtesting: Does the indicator repaint?

Hi Roland,

no, the indicator does not repaint.
But therefore, the arrow & alert are only being shown/pop-up on the second candle.

It has to be like this, to prevent the indicator from any repainting.

So why is the arrow not being presented on first candle, when the signal is valid?!
Because a filter is being used to make sure, the arrow & alert is not being presented before confirmation,
and since the arrow is on second candle by default, it's not possible to adjust this here.



How can you find out if an indicator repaints or not?!

Just let it run in the strategy tester, for the last couple of days (or hours) where you also have the recent live data from (recent timeframe).
In your strategy tester the indicator will be run, as it is being run on live chart.
Then you can compare the live chart and the strategy tester chart. If there is a difference in arrows being presented, then it does repaint.

Thank you understood!

I would like to show you the indicators behaviour on different inputs.
On all screenshots the Pip_in_Range is 5 pips, and X_Bars 8.
Please take note that it is maximum zoomed out.

USD/JPY 5 minute chart:

Intensity 8, Win-Ratio 15



Intensity 2, Win-Ratio 14



By the way, there might be movements that are too fast and therefore too risky.
Its better to go the safe way and avoid them:
Inensity 13, Win-Ratio 15

The indicators purpose is not to trade any signal the indicator gives:

Much more you can be aware, that theres something happening when a signal pops up, and make yourself thoughts about whether it is a range, or a promising trend riding signal.

It is a lie when people think that there are indicators out there, that just give you a signal, and they trade it without any interruption, and it works very well out.
My indicator does not free people from thinking (making your own work and opinion), but therefore you can be sure that it is not misleading you like some other indicators do. [Like: "If this indi is correct in 80% of its signals, I just need to raise the lot amount and make money in no time without thinking" and then, after some trades, you see -again- that the trend is going against you].

This way you do not respect the behaviour of the market (the price).

This is not the way how a responsible trader should trade. You have to get to known the environment, best with naked charts and your eyes.
Trading solely with S&R levels, which you can see (no overplotting in the chart), some trend lines and -maybe- fibonacci levels to lead you to an exit of your trade is enough in my opinion.



This is what I mean with respect for the market (price).
It is respect for the structure in the chart.

Sometimes there is just no valid buy/ sell signal, but still something is happening in the market.

And therefore this is what I think we have to be aware of: Having our eyes on the chart, when something happens.

Then you will get those movements, outbreaks and so on...

Looks GOOD....but is it only for 1 hour charts? Alot less signals on 4hour.....

You may need to tweak the input parameters a little bit. These are screenshots I made on USD/JPY 4 hour chart with different settings.
For Pip_in_Range and X_Bars both are 8 [If you want to get earlier signals, you need to minimize this range filters or put them to zero].

Intensity 2, Win-Ratio 14



Intensity 5, Win-Ratio 25


It all depends on how accurate you want to be informed:
Either you want to have the complete overview, with range signals and trend signals, or you just want to trade trend signals.
The more accurate you want the indi to behave, the more you need to minimize the range filter (Pip_in_Range and X_Bars);
In my opinion this is especially good for higher timeframes, H1 and above, as you will be alerted too often on lower timeframes (which does not mean that you cannot trade with it).

You can also switch the Intensity and Win-Ratio higher or lower:
As you can see on the above example, the lower you swich the Intensity / higher switch Win-Ratio, the less signals will be presented.
On the opposite, switch Intensity high and Win-Ratio low, will lead to more signals.
However, this is not always the case: When you go with Win-Ratio under 15 and take a low number for Intensity, you will get many signals.
This is good for getting signals for ranges, mark the highest and lowest price within this range and trade the final outbreak.

Another point: Sometimes, you trade a first signal as you think it is a trend signal, but then another (opposite) signal is being presented and you realize that this is a range.
Then you have to trade it as a range and head for the outbreak;
the good thing about this is, you may lose some money on this first trade, but waiting and trading the outbreak out of the range will give you much more profit.

Additionally I must mention, that many first signals are profitable from the beginning with good money management and trailing Stop.

By the way, this is how trading goes: You cannot know it perfectly, right from the beginning. Any indicator or system claiming that it can provide you with very high/ best accuracy, is fake.
Because the market doesn't work in clear systematics you may always analyze the same way, and sometimes the biggest market contributors / the market itself does not even know where the price will go - so how could an indicator?!
This is what is good about this indicator: It does not feed you solely with trend signals, but gives you an alert when something is about to happen in the market, a range occurs or a good trend riding signal starts to develop.
It is important to face the truth, realize when a range occurs, and just mark the highest and lowest price;
the market, big market contributors and you and I will know where the price goes, when an outbreak occurs that is valid. Of course there are also fake outbreaks, but this is what we as traders must live with; it is not all totally easy, but in the end its still profitable, and this is what counts.

Hi Andrew,

When do you think your indicator it will be ready?
If i bought your indicator, do you provide the code to use with icustoms on an EA?

Regards,
FFilipe

Hi FFilipe,

I have now just uploaded an improved trial version, that expires on 6th of december.
I think from there on the indi will be available on mql5 markets.

The trial version now offers much better input settings, relying on an algorithm...
You no longer have to search for best Pip_in_range and X_bars settings, the indi finds them for you automatically.

As for the code; all inputs you see in the inputs tab are the ones you need for it.
But I will do some research to find out how I can deliver you all icustom details in an mql file.

Hi Andrew,

First of all, thanks for your effort!
I am interested in buying your indicator, but i also need these two buffers to make an EA with him.
Can you tell me what will be the price for your indicator and when it will be on the mql5 market?

Regards from Portugal,
FFilipe

Well, as said, it'll be from 6th of december.

As for the price, I think I will start with 40$ for the first buyers...

Regards

Made this screenshot with old version of indi, but still it makes clear that an opposite signal occurance has to be traded as outbreak,
while default ones can be traded straight.



By the way: The arrows appear now with new version on first candle, right after recent active one.