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PlanetX Indicator - can this indi be used for trading?

  • #101
  • Edited 9:42pm Mar 3, 2022 8:51pm | Edited 9:42pm
FYI -- I have no intention of binning the thread, at least not in the near future. I'm having too much fun and the contributions so far have far outweighed the underprivileged who arrive to complain. This isn't my first rodeo and I was aware the first few pages would be a slog because that is when the lonely, unhappy men tend to make their appearance. But as the thread matures things will smooth out and I'm willing to keep improving on the indicator or combining it with others if good contributions continue to roll in.
  • #102
  • Mar 4, 2022 12:38am Mar 4, 2022 12:38am
Quoting ohitsyou
{quote} This happens to me all the time. Whenever I'm out and about people stop me and ask for an autograph. They mistake me for Michael Jordan... If you prefer Michael Jordan then I'll bin the thread and you can contact him to see if he's willing and available to share his time with you -- it's your call...
It's better to not feed the troll, ignore them, don't waste time and emotion to answer them. They will stop if we ignore them. You can hit the [Cleanup] button at top right of post.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #103
  • Mar 4, 2022 12:59am Mar 4, 2022 12:59am
Quoting ohitsyou
FYI -- I have no intention of binning the thread, at least not in the near future. I'm having too much fun and the contributions so far have far outweighed the underprivileged who arrive to complain. This isn't my first rodeo and I was aware the first few pages would be a slog because that is when the lonely, unhappy men tend to make their appearance. But as the thread matures things will smooth out and I'm willing to keep improving on the indicator or combining it with others if good contributions continue to roll in.
Indicators are OK, but they don't know one important thing:
They don't know the future! They always calculate something based on the past.
Success of trader doesn't depend on indicators!

The harsh truth is that we can only profit by getting more than we give (Risk/Reward).
Each trade must have 3 elements:
1. Take Profit - trader must know price instrument has likely to reach;
2. Stop Loss - trader must know price trend or local price change move has likely turn around;
3. Entry Price - trader must know if Ask/Bid is good price to enter trade, which means R/R is still in favor.

This is the whole skill of trading charts.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #104
  • Mar 4, 2022 2:21am Mar 4, 2022 2:21am
Hi OH my compliments for this interesting Plantex indicator.
Is it possible to convert it to Mt5 ?
Thank you very much
  • #105
  • Mar 4, 2022 2:30am Mar 4, 2022 2:30am
Quoting rosone
Hi OH my compliments for this interesting Plantex indicator. Is it possible to convert it to Mt5 ? Thank you very much
Perhaps one day, but not now. I don't trade the MT5 platform, so I'm not inclined to put in the time to develop something I'd never use.
  • #106
  • Mar 4, 2022 3:34am Mar 4, 2022 3:34am
Hi ohitsyou, Thank you for posting this indicator. I'm having fun testing this indicator and so far it's been going really well. Would it be possible to add an alert (Sound and Pop up Message) for when the lines cross above zero line or below zero line to the indicator? No problem if not doable

Thank you
  • #107
  • Mar 4, 2022 3:49am Mar 4, 2022 3:49am
I am using your original indi with my trading style my exit and entry has become much better.


Thanks for making this.
  • #108
  • Mar 4, 2022 3:53am Mar 4, 2022 3:53am
Quoting fxwealth
Hi ohitsyou, Thank you for posting this indicator. I'm having fun testing this indicator and so far it's been going really well. Would it be possible to add an alert (Sound and Pop up Message) for when the lines cross above zero line or below zero line to the indicator? No problem if not doable Thank you
I'm glad you're having fun with it -- so am I. However, I'm going to pass on the Alert request...
  • #109
  • Mar 4, 2022 4:03am Mar 4, 2022 4:03am
I'm only interested in those rings. Nothing has changed to redraw them.
Please excuse the bad English via Google Translate.
  • #110
  • Edited 4:53am Mar 4, 2022 4:36am | Edited 4:53am
Quoting dokopy
I'm only interested in those rings. Nothing has changed to redraw them.
Please attempt to understand the following: I am not here to serve you. I do not work for FF and you do not pay me. I don't owe you anything. Any time that I spend working on this indicator is a gift from me to you.

If you wish to help troubleshoot the problem perhaps provide some information that would be useful. I don't know what you mean when you say "nothing has changed to redraw them". What exactly did you try? Which indicator did you use? You must have read my post detailing the difference between repainting and refreshing. Does the indicator exhibit that "refreshing" behavior? What time frame? What symbol? How about a screen shot?

I have zero interest in helping you if you have zero interest in helping me to help you.
  • #111
  • Mar 4, 2022 5:29am Mar 4, 2022 5:29am
Quoting fxwealth
Hi ohitsyou, Thank you for posting this indicator. I'm having fun testing this indicator and so far it's been going really well. Would it be possible to add an alert (Sound and Pop up Message) for when the lines cross above zero line or below zero line to the indicator? No problem if not doable Thank you
I can do that, create indi by using iCustom with Alert, Message, and even other options, but I must have permission from @ohitsyou.

@ohitsyou:
Do you give me permission to create extensions of your indicators on other people requests?
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #112
  • Mar 4, 2022 6:09am Mar 4, 2022 6:09am
Quoting dokopy
I'm only interested in those rings. Nothing has changed to redraw them.
I think means this:
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-04_130850.jpg Size: 82 KB


This is a refresh problem, for sure.
My sugestions:
Plot marker only when IsNewBar().
Try:
RefreshRates();
ChartRedraw();
WindowRedraw();

True, on H1 you might not see this very often, or ever...
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #113
  • Edited 6:57am Mar 4, 2022 6:41am | Edited 6:57am
This situation:
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-04_133809.jpg Size: 6 KB

It looks like you calculate the marker on current bar (Bar[0]), but you do not delete the marker when candle closes. You see, in both those white markers the Close value of your bar is negative, so a white marker should not be there. No markers should be there in this situation.

Yes, this is because of the recalculation problem, the video I made yesterday.
When candle[2], for example, closes, you have white marker, but later bars [1] & [2] recalculate and we get this mess.

So, when someone will create EA for markers, they will be in trouble.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #114
  • Mar 4, 2022 7:16am Mar 4, 2022 7:16am
Quoting BestTraderEv
This situation: {image} It looks like you calculate the marker on current bar (Bar[0]), but you do not delete the marker when candle closes. You see, in both those white markers the Close value of your bar is negative, so a white marker should not be there. No markers should be there in this situation. Yes, this is because of the recalculation problem, the video I made yesterday. When candle[2], for example, closes, you have white marker, but later bars [1] & [2] recalculate and we get this mess. So, when someone will create EA for markers, they...
it happens on h1 as well. EA is not advisable with this. I am trading full manual and using it for entry exit confirmation.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 70 KB
  • #115
  • Edited 7:38am Mar 4, 2022 7:24am | Edited 7:38am
Another thing:
Every time we start the MT4 platform, or switch timeframe, or look into the indicator data window and click OK, we reset/recalculate the whole indicator, so the bad markers will disappear.

So my conclusion is that this indicator in the original form has a lag of 3 bars, which means we do not know anything until 3 candles Close. Only then do we get the finite signal. But, it only looks like that from observation. The reality might be worse sometimes... I don't know...
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #116
  • Mar 4, 2022 8:22am Mar 4, 2022 8:22am
Quoting ohitsyou
The image below shows the "OnChart" version of the PlanetX indicator. In the upper chart I've attached the "OnChart" version of PlanetX (the red/white line) and Donchian Channel. In the lower chart I've attached the "Histogram" version of PlanetX and DSS Bressert. {image}
Great looking indicator mate! Thanks for sharing, I am not able to locate the on-chart version of this though, please repost if possible. Thanks.
  • #117
  • Mar 4, 2022 9:48am Mar 4, 2022 9:48am
Quoting BestTraderEv
Another thing: Every time we start the MT4 platform, or switch timeframe, or look into the indicator data window and click OK, we reset/recalculate the whole indicator, so the bad markers will disappear. So my conclusion is that this indicator in the original form has a lag of 3 bars, which means we do not know anything until 3 candles Close. Only then do we get the finite signal. But, it only looks like that from observation. The reality might be worse sometimes... I don't know...
meaning it replaints?
  • #118
  • Mar 4, 2022 10:13am Mar 4, 2022 10:13am
Thanks for the response ohitsyou. Thanks also BestTraderEv, agree it best to wait for permission. Thank you for the offering to do it if permission is granted
  • #119
  • Mar 4, 2022 10:29am Mar 4, 2022 10:29am
Quoting BestTraderEv
{quote} I think means this: {image} This is a refresh problem, for sure. My sugestions: Plot marker only when IsNewBar(). Try: RefreshRates(); ChartRedraw(); WindowRedraw(); True, on H1 you might not see this very often, or ever...
I have the original fiber indicator on 28 pairs of H4. I only use white and red rings, which are in the same places in newer versions. The shortcomings are manifested when comparing the history with the backtest, or with real data after a certain time. I don't think there's anything you can do about it. But I'm not an encoder. I use it to confirm entries. In time, I will see its usefulness.
Please excuse the bad English via Google Translate.
  • #120
  • Mar 4, 2022 10:47am Mar 4, 2022 10:47am
Quoting BestTraderEv
This situation: {image} It looks like you calculate the marker on current bar (Bar[0]), but you do not delete the marker when candle closes. You see, in both those white markers the Close value of your bar is negative, so a white marker should not be there. No markers should be there in this situation. Yes, this is because of the recalculation problem, the video I made yesterday. When candle[2], for example, closes, you have white marker, but later bars [1] & [2] recalculate and we get this mess. So, when someone will create EA for markers, they...
The markers use MT4 dynamic buffers. MT4 manages markers on a chart. As the chart advances MT4 is responsible for drawing markers. This is not an algorithm issue -- it's an MT4 charting issue. When volatility is low then circle markers on bars [0], [1], [2] may flutter. But we know not to open trades when volatility is low and there really is no trend. This is discretionary trading -- we also have to use our brain. Haven't I stated numerous times that it is important to look at the height of the histogram bars? They reflect momentum. If the histogram bars are flat or not increasing then we don't open a trade, regardless of the red or white circles.

I think the people who have reported this problem would agree that color doesn't change -- only the red / white circles. I'll acknowledge that "circle-drawing" may not be accurate when volatility is low and prices are flat -- though it's still a charting issue. But why the focus on trading when price is flat? This is discretionary swing trading -- it's okay to use our brains and take in other clues.

Please don't bring in EAs -- that's a whole different can of worms. From the very beginning I've been emphasizing discretionary swing trading on H1 (or higher).
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