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PlanetX Indicator - can this indi be used for trading?

  • #21
  • Edited 7:57am Mar 2, 2022 7:42am | Edited 7:57am
When trading H1 you really only need to get the direction right for a couple of bars. Below is one of my trades on a live account. In about an hour it is up 22 Pips. I'll close it shortly because I generally avoid trading the NY Open.

Blue bars mean bullish and purple bars mean bearish. In addition, I'll only Enter a trade when the current (indicator) bar is larger than the previous one. And I'll Exit a trade when the current (indicator) bar is smaller than the previous one. In other words, if there are 8 blue bars in a row I won't hold a BUY trade for all 8 bars waiting for a purple transition. Rather, I'll hold the BUY trade as long as the blue bars continue to increment (and similarly for purple bars).

Attached Image (click to enlarge)
Click to Enlarge Name: PlanetX-example-06.png Size: 92 KB
  • #22
  • Mar 2, 2022 8:20am Mar 2, 2022 8:20am
So far looks like a fast MACD
If you remove indi from chart and apply again last signal can change
checked it on 15m and 1H charts, same results
  • #23
  • Mar 2, 2022 10:16am Mar 2, 2022 10:16am
A very clear filter based on the screenshots you have posted @ohitsyou is to only enter short signals when price has touched the top Bollinger band & vice versa. Looks like a promising method of entry for those who want to keep it simple. Reminds me very much of R4M's indi's to which I still use. Nice job!
  • #24
  • Mar 2, 2022 11:22am Mar 2, 2022 11:22am
Nobody is here to offend you - But I've watched it the whole day and ran it on USD and the Signals does repaint even after the close of the cancel two to three candles afterwards.
  • #25
  • Mar 2, 2022 11:38am Mar 2, 2022 11:38am
Quoting Kallie
Nobody is here to offend you - But I've watched it the whole day and ran it on USD and the Signals does repaint even after the close of the cancel two to three candles afterwards.
Fellas -- it does not repaint. I've added code that resizes the Y-axis after each bar. The reason for doing that is because if there is a large bar off-screen then the Y-axis may be very large and that dwarfs the appearance of the most recent bars. I trade in real-time and I want the chart that I rely to look good.

Look it -- I'm not twisting your arm to use PlanetX. I'm sharing it because I've found it a useful tool. You are free to delete it from your machine.

And, for the record, I ain't going to modify it to appease the clueless or coder wanna bees.
  • #26
  • Mar 2, 2022 11:48am Mar 2, 2022 11:48am
Quoting YoungET
A very clear filter based on the screenshots you have posted @ohitsyou is to only enter short signals when price has touched the top Bollinger band & vice versa. Looks like a promising method of entry for those who want to keep it simple. Reminds me very much of R4M's indi's to which I still use. Nice job!
Thanks...

It must be a case of great minds thinking alike...
  • #27
  • Mar 2, 2022 11:55am Mar 2, 2022 11:55am
Quoting AlienDog
So far looks like a fast MACD If you remove indi from chart and apply again last signal can change checked it on 15m and 1H charts, same results
Quoting Kallie
Nobody is here to offend you - But I've watched it the whole day and ran it on USD and the Signals does repaint even after the close of the cancel two to three candles afterwards.
There's this old saying -- "you can lead a horse to water but you can't make it drink"...

Best of luck with your trading...
  • #28
  • Mar 2, 2022 12:09pm Mar 2, 2022 12:09pm
Interesting indicator.
I did a quick compare with a traditional MACD, that I modified a bit, and generally I get the exact same signals.

Attached Image (click to enlarge)
Click to Enlarge Name: Example.PNG Size: 56 KB
  • #29
  • Edited 12:52pm Mar 2, 2022 12:37pm | Edited 12:52pm
Quoting Oliver.Twist
Interesting indicator. I did a quick compare with a traditional MACD, that I modified a bit, and generally I get the exact same signals. {image}
Good detective work -- but PlanetX is not based on MACD.

But here's the deal -- > 90% of the indicators we all use are based on some flavor of MovingAverage. If there is a 'Period' parameter in the settings, then it shares the same algebra as all the other MovingAverage-based indicators.

With PlanetX I've made it easier to use for trading. For example:
1. There are no settings to fiddle with. The underlying settings work well for 28 pairs on timeframes M1-D1. Oliver.Twist had to fiddle with the MACD settings to get it to look similar to PlanetX. That should tell you something.
2. I continue to stress the importance of the height of the histogram bars -- which reflects price momentum. You'll notice that with MACD there are gaps. But there are no gaps in PlanetX.

If you prefer MACD that is fine by me. PlanetX is just another tool and people are free to include it in their toolbox, or not. I didn't claim it was the Holy Grail or that it would transform a struggling trader into a millionaire. It can be used for discretionary trading. With discretionary trading your most important tool and asset is your brain.

I understand how it works here at FF, and with that in mind:
“You can please some of the people all of the time, all of the people some of the time, but you can’t please all of the people all of the time”.
  • #30
  • Mar 2, 2022 12:56pm Mar 2, 2022 12:56pm
Quoting Oliver.Twist
Interesting indicator. I did a quick compare with a traditional MACD, that I modified a bit, and generally I get the exact same signals. {image}
This should also quell the concerns about repainting. If fiddling with MACD creates an indicator that aligns with PlanetX, then PlanetX must be getting it right. Of course there will always be some who will then claim that MACD repaints -- that's the way the world turns...

In addition, I've shown examples of a number of different indicators that align well with PlanetX and confirm its signals. Seriously -- is there anyone who would claim those also repaint?
  • #31
  • Mar 2, 2022 1:03pm Mar 2, 2022 1:03pm
Hello, why i can't see Your indi in Navigator window?
I want to use signals in my EA and test it...
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 56 KB
  • #32
  • Mar 2, 2022 1:13pm Mar 2, 2022 1:13pm
Quoting Kallie
Nobody is here to offend you - But I've watched it the whole day and ran it on USD and the Signals does repaint even after the close of the cancel two to three candles afterwards.
Could you explain for me -- in pseudo code if you are not a programmer -- how only the last two or three candles repaints. Keep in mind that when running live or in Strategy Tester that **every** bar belonged to the last two or three bars at some point in its life.

Since every bar belongs to the last two or three bars at some point in its life then it follows that every bar is subject to repainting, not just the most recent two or three. I mean, that would be logical, right?
  • #33
  • Mar 2, 2022 1:14pm Mar 2, 2022 1:14pm
Quoting laksior
Hello, why i can't see Your indi in Navigator window? I want to use signals in my EA and test it... {image}
Because I chose not to expose the dynamic buffer IDs. But if you are a good detective you can still figure it out.
  • #34
  • Mar 2, 2022 1:38pm Mar 2, 2022 1:38pm
fuck your MACD , stupid genius................
  • #35
  • Mar 2, 2022 1:56pm Mar 2, 2022 1:56pm
Quoting wladav
fuck your MACD , stupid genius................
Best of luck with your trading. Adios amigo...
  • #36
  • Mar 2, 2022 2:25pm Mar 2, 2022 2:25pm
Quoting wladav
fuck your MACD , stupid genius................
Here's a comparison of PlanetX vs MACD (default settings). PlanetX is not based on MACD, but it does use algebraic formulas similar to 90% of indicators -- like Bollinger Bands, Envelopes, Ichimoku, PSAR, CCI, DeMarker, Force Index, MACD, Momentum, RSI, Stochastics, WPR, Accelerator Osc, Awesome Osc, Gator Osc, TMA, Vidya, and on and on...

Looking closely at PlanetX vs MACD, other than the idiot @wladav, would anyone really choose MACD over PlanetX when swing trading?

Attached Image (click to enlarge)
Click to Enlarge Name: PlanetX-vs-MACD.png Size: 35 KB


The only reason MACD has come up is because I chose to chart the PlanetX indicator using Histogram bars in a subwindow. If I had chosen lines or arrows or colored arrows on the main chart then MACD wouldn't have come it. This is the way it goes on FF -- we are surrounded by shallow thinkers...
  • #37
  • Mar 2, 2022 2:44pm Mar 2, 2022 2:44pm
Put together a simple yet promising strategy using the PlanetX indicator. Entry is as follows for shorts in a downtrend;

1. 50 EMA below 200 EMA
2. Price spikes up through the 50 EMA but not the 200 EMA
3. PlanetX gives a short entry
4. Stop loss above the top white channel line
5. Targets at your discretion

vice versa for long entries. Template etc attached below if you wish to tinker around with it.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUDH1.png Size: 63 KB
Attached File(s)
File Type: rar Setup.rar   124 KB | 700 downloads
  • #38
  • Mar 2, 2022 2:51pm Mar 2, 2022 2:51pm
Quoting YoungET
Put together a simple yet promising strategy using the PlanetX indicator. Entry is as follows for shorts in a downtrend; 1. 50 EMA below 200 EMA 2. Price spikes up through the 50 EMA but not the 200 EMA 3. PlanetX gives a short entry 4. Stop loss above the top white channel line 5. Targets at your discretion vice versa for long entries. Template etc attached below if you wish to tinker around with it. {image}{file}
@YoungET -- you are a prince. This is exactly what I was hoping for. I will take a closer look at your strategy and report back later this evening. Thank you!!
  • #39
  • Mar 2, 2022 3:07pm Mar 2, 2022 3:07pm
Quoting ohitsyou
{quote} {quote} There's this old saying -- "you can lead a horse to water but you can't make it drink"... Best of luck with your trading...
Well I cant upload imagen now later I will and then we'll drink some together
  • #40
  • Mar 2, 2022 3:23pm Mar 2, 2022 3:23pm
Quoting YoungET
Put together a simple yet promising strategy using the PlanetX indicator. Entry is as follows for shorts in a downtrend; 1. 50 EMA below 200 EMA 2. Price spikes up through the 50 EMA but not the 200 EMA 3. PlanetX gives a short entry 4. Stop loss above the top white channel line 5. Targets at your discretion vice versa for long entries. Template etc attached below if you wish to tinker around with it. {image}{file}
XU v6-XARDFX is a beautiful indicator and is perfectly suited for swing trading. My initial impression is that it aligns very well with PlanetX, with PlanetX often times getting you into a trade a bar or two earlier.

As I've mentioned before, when trading H1 you only need to get the direction correct for 1-2 bars and that could easily win a couple dozen Pips. Since I'm trading 28 pairs then at any one time I'll have from 1-5 trades open. And after a couple of hours I'll close them all. At the top of an hour I'll start over again. Though I'll trade a 4-hour interval covering 2-hours before London Open through 2-hours after London Open, the indicator(s) make setups so obvious that I probably spend less than 10 minutes screen time each day.

XU x6-XARDFX is an excellent addition to my toolbox. Again -- thank you.
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