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PlanetX Indicator - can this indi be used for trading?

  • #161
  • Edited 12:24pm Mar 6, 2022 5:37am | Edited 12:24pm
My work progress as of today:
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-06_121504.jpg Size: 54 KB

Variable:
PlotIndicator - allows to switch the whole indicator to "true"="On", "false"="Off";
Discription field - changing the text in this field does nothing to the indicator;
Period - default period for the OIY-PlanetX-Hist indicator;
Bands Multiplier - default value for OIY-PlanetX-Hist indicator;
Momentum period - default value for OIY-PlanetX-Hist indicator;
TimeFrame - allows to choose the timeframe for MTF mode (not tested yet), default "current";
PlotCurrentBar - allows to switch On and Off the visibility of the current bar;
PlotSignalArrows - allows to switch On and Off the visibility of transition markers;
OverlayOscillator - allows to select which oscillator to overlay. There are 3 options:
None - no overlay oscillator;
Awesome_Oscillator;
STLM_Oscillator;
SignalArrowAlerts - allows to switch On and Off marker alerts (not tested yet);
OIY_PlanetX_Hist_Version - string field to input which version of OIY-PlanetX-Hist indicator will be used for importing data. The format must be "v3.0", no extra spaces or anything, or the whole thing won't work.
Please do not use lower versions than "v3.0", because the buffers might not align properly in earlier versions.

Attached File(s)
File Type: ex4 PlanetAwesome-Oscilator-MTF-v3.0.ex4   21 KB | 352 downloads

Attached File(s)
File Type: mq4 Awesome.mq4   3 KB | 250 downloads

Attached File(s)
File Type: mq4 STLM_hist.mq4   13 KB | 298 downloads

In order for this to work, you need least:
Attached File(s)
File Type: ex4 OIY-PlanetX-Hist-v3.0.ex4   53 KB | 276 downloads
or newer version.

In this version of my indicator you see information about which PlanetX version is applied:
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-06_124201.jpg Size: 20 KB


Important!
Do not change anything in the names of the provided indicators, or the whole thing won't work!

UPDATE!
My indicator works with OIY-PlanetX-Hist-v3.0.ex4!
This is because @ohitsyou did not include the input parameters in newer versions.

UPDATE!
Now my indicator works with OIY-PlanetX-Hist-v3.0.ex4 and higher versions!
Please update your OIY-PlanetX-Hist-v4.0 and 5.0 you will find in the first post of the thread!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #162
  • Edited 5:52am Mar 6, 2022 5:40am | Edited 5:52am
Quoting transmat
{quote} Hello, By placing this indicator on the chart it will refresh at the start of every minute, start of every 5 minutes or start of every hour depending on configuration and may solve this problem. Do not forget to check the box "Allow DHL import" {file}
This is a very bad solution, especially when trader is using EA, or some other algorythm which presets variables in the OnInit() function, because this can then cause unexpected loss of money while trading!!!

The Autorefresh works by force switching timeframes when a new candle of the chosen timeframe appears.
So, it switches, for example, to some higher timeframe and back to our working timeframe. Every such switch makes any EA or indicator to deinitialize and initialize again. Many EA and indicators preset variables on the initialize function, such that those variable start a specific cycle, for example, Buy=false, Sell=false. So, when EA is in working session and Autorefresh breaks the code, trader can be in trouble.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #163
  • Mar 6, 2022 6:11am Mar 6, 2022 6:11am
The colors are as follows:
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-06_130846.jpg Size: 49 KB

#0 & #1 are Awesome Oscillator;
#2 & #3 are STLM Oscillator;
#4 & #5 are PlanetX Oscillator;
#6 & #7 are PlanetX Oscillator markers;

Oh, and I did not include the Momentum indicator data!
If you want it, you can simply add (drag and drop) the default MT4 Momentum indicator onto the window where you see PlanetAwesome, or PlanetX oscillator.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #164
  • Mar 6, 2022 6:29am Mar 6, 2022 6:29am
Quoting BestTraderEv
My work progress as of today: {image} Variable: PlotIndicator - allows to switch the whole indicator to "true"="On", "false"="Off"; Discription field - changing the text in this field does nothing to the indicator; Period - default period for the OIY-PlanetX-Hist indicator; Bands Multiplier - default value for OIY-PlanetX-Hist indicator; Momentum period - default value for OIY-PlanetX-Hist indicator; TimeFrame - allows to choose the timeframe for MTF mode (not tested yet), default "current"; PlotCurrentBar - allows to switch On and Off the visibility...
Sir -- you are amazing!!!

I will spend some time today getting familiar with your software -- thank you...
  • #165
  • Mar 6, 2022 6:42am Mar 6, 2022 6:42am
OIY-PlanetX-Hist-v3.0.ex4 does not plot the Momentum on Renko charts!
Adding the default MT4 Momentum indicator works properly.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #166
  • Mar 6, 2022 6:46am Mar 6, 2022 6:46am
Quoting ohitsyou
{quote} Sir -- you are amazing!!! I will spend some time today getting familiar with your software -- thank you...
Can you standardize versions 4.0 & 5.0 to version 3.0, please?
In versions 4.0 & 5.0 you did not include this:
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-06_134506.jpg Size: 29 KB

This fact causes a problem and the newer versions will not cooperate with my indicator, because iCustom() will be missing data fields.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #167
  • Mar 6, 2022 6:50am Mar 6, 2022 6:50am
Quoting ohitsyou
{quote} I'll be interested to learn your results. However, Renko is a different beast. Bar creation is delayed until a preset bar height is achieved. There are lots of indicators that don't work on Renko charts because bars are not created at specified intervals and they don't have a concept of High, Low, Open and Close -- which are required by many indicators. So, it is not clear to me whether the problems you see are specific to PlanetX or due to the fact it is forced to use Renko bar data instead of OHLC data. If this was a known issue that occurs...
Hi, thanks for your response
So the problem of the "messed up" histo (that messes also the histo in the past ) i think it's only a renko matter, but the delayed / fake signal are related also to normal chart


Coming back to the v4, i've tested more and :
-it seems to be fixed the "fake" signal problem : as I have already said in my earlier posts, the solution i found is to attach a "fresh" indi on the chart on every new bar, in this way for some reasons , the "fake" signals aren't plotted on the [1] bar , while in the v3 version,sometime the problem persisted even attaching a fresh indi as I showed you in the video of my earlier post.
-I've noticed that the problem of the delayed signal is still there, I don't know if it can be fixed, i'm attaching you a video of the issues.

I think the v4 version is safer because it doesn't plot fake signal on the [1] bar, while it still has the "delayed" signal problem, which can actually be dangerous for the strategy and can "fool" the visual backtesting.
I think, that is it worth to try to implement the " Reset / Refresh " function of the indi on every new bar that make the indi "as it would be put by new", this would basically solve the problem of the "mess" up bars and fake signals (that happen also in normal chart).

Thanks again, keep going !
Attached File(s)
File Type: zip delayedsignalproblemv4.zip   3.0 MB | 222 downloads
File Type: zip fakesignalsolvedv4.zip   3.7 MB | 248 downloads
  • #168
  • Mar 6, 2022 6:56am Mar 6, 2022 6:56am
Quoting BestTraderEv
{quote} If you are coding EA to the signals/markers it will never work. Like in any other case of indicator signals. This is because it is impossible to code for market changeability - the market changes - meaning that we will always get so called false signals. We can get Sell signal, then Buy signal, then another Sell signal, and if EA executes orders on every signal, we may lose instead of winning on one good Short. We can see that on the chart. EA can not. Maybe someone can code AI to recognise visual patterns? Not by coding patterns, but but...
Hi !
I know, relying only on the indicator in fact it's not what I meant to do, but rather implement this indi as "trend / momentum" filter and enter the market on specific criterias.
Thanks for the message
  • #169
  • Mar 6, 2022 7:05am Mar 6, 2022 7:05am
Quoting transmat
{quote} Hello, By placing this indicator on the chart it will refresh at the start of every minute, start of every 5 minutes or start of every hour depending on configuration and may solve this problem. Do not forget to check the box "Allow DHL import" {file}
Hi,
I can't test it now as the market is closed, but I'm pretty sure it won't work because, what it 's needed it's a refresh of the indicator , meaning like "the indicator is put on the chart again", it doesn't work if you only refresh the chart.
Thanks anyway for your help !
  • #170
  • Mar 6, 2022 7:22am Mar 6, 2022 7:22am
Quoting ohitsyou
To address this issue of transition markers I've modified the PlanetX indicator to include MT4's built-in Momentum indicator. From the image below you can see that when the yellow momentum line crosses the '0' level this generally aligns with PlanetX's red / white circles -- but not always. Again, the red / white circles are NOT trading signals -- rather, they are ALERT markers intended to alert you there may be a transition here. When the momentum transition is strong you can see that the red / white circles may get you into a trade a bar or two...
Nice Work Sir !
I'll try to think another indi to implement on Planet X too.
  • #171
  • Mar 6, 2022 7:22am Mar 6, 2022 7:22am
Quoting Brambilla
{quote} Hi, I can't test it now as the market is closed, but I'm pretty sure it won't work because, what it 's needed it's a refresh of the indicator , meaning like "the indicator is put on the chart again", it doesn't work if you only refresh the chart. Thanks anyway for your help !
If you read @BestTraderEv' post above (https://www.forexfactory.com/thread/post/13922104#post13922104) then @transmat's autorefresh indicator will probably do what you want, but there may be unintended side-effects. I checked the source code and it switches back and forth between time frames, effectively re-initting the indicator.
  • #172
  • Mar 6, 2022 7:26am Mar 6, 2022 7:26am
Quoting Brambilla
{quote} Hi, thanks for your response So the problem of the "messed up" histo (that messes also the histo in the past ) i think it's only a renko matter, but the delayed / fake signal are related also to normal chart Coming back to the v4, i've tested more and : -it seems to be fixed the "fake" signal problem : as I have already said in my earlier posts, the solution i found is to attach a "fresh" indi on the chart on every new bar, in this way for some reasons , the "fake" signals aren't plotted on the [1] bar , while in the v3 version,sometime...
Hello @Brambilla -- thanks so much for your report. I really appreciate it. I will check your videos and think about your results. I'm not sure yet which direction to go with this. The contributions have been amazing and open up possibilities I hadn't previously considered...
  • #173
  • Mar 6, 2022 7:29am Mar 6, 2022 7:29am
Quoting BestTraderEv
{quote} Can you standardize versions 4.0 & 5.0 to version 3.0, please? In versions 4.0 & 5.0 you did not include this: {image} This fact causes a problem and the newer versions will not cooperate with my indicator, because iCustom() will be missing data fields.
Yes -- I will post updates in a few hours.
  • #174
  • Mar 6, 2022 7:33am Mar 6, 2022 7:33am
Quoting ohitsyou
{quote} If you read @BestTraderEv' post above (https://www.forexfactory.com/thread/post/13922104#post13922104) then @transmat's autorefresh indicator will probably do what you want, but there may be unintended side-effects. I checked the source code and it switches back and forth between time frames, effectively re-initting the indicator.
Hi,
Oh ok, well then tommorrow i'll test it out and let you know, the problem is that the refresh should be done on every new bar, not on every "x" time, that's really important otherwise it's useless.
Thanks !
  • #175
  • Edited 9:55am Mar 6, 2022 7:35am | Edited 9:55am
Quoting BestTraderEv
OIY-PlanetX-Hist-v3.0.ex4 does not plot the Momentum on Renko charts! Adding the default MT4 Momentum indicator works properly.
I don't test PlanetX against Renko charts. However it simply uses MT4's built-in iMomentum() API. Why wouldn't that work but the one dragged from the Navigator window does?

I do add a bit of smoothing using iMAOnArray() -- I wonder if that breaks Momentum on Renko. I don't know...
  • #176
  • Mar 6, 2022 7:40am Mar 6, 2022 7:40am
Quoting Brambilla
{quote} Hi, Oh ok, well then tommorrow i'll test it out and let you know, the problem is that the refresh should be done on every new bar, not on every "x" time, that's really important otherwise it's useless. Thanks !
Okay. If the autorefreshing works for you on Renko then I'll build a "Renko" version of PlanetX that executes @transmat's autorefresh code on every new bar.

And if @BestTraderEv were to do the same, I would request that we keep Renko and non-Renko versions separate. The focus really is on non-Renko and since this thread is still young I'd prefer not to complicate it unnecessarily.
  • #177
  • Mar 6, 2022 8:09am Mar 6, 2022 8:09am
Quoting Brambilla
{quote} Hi, I can't test it now as the market is closed, but I'm pretty sure it won't work because, what it 's needed it's a refresh of the indicator , meaning like "the indicator is put on the chart again", it doesn't work if you only refresh the chart. Thanks anyway for your help !
The Autorefresh does not work on Renko, because it can not shuffle timeframes on an offline chart, non-timeframe chart, such as Renko. It works on standard timeframes, provided you can work with what I wrote before.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #178
  • Mar 6, 2022 8:14am Mar 6, 2022 8:14am
Quoting ohitsyou
{quote} Okay. If the autorefreshing works for you on Renko then I'll build a "Renko" version of PlanetX that executes @transmat's autorefresh code on every new bar. And if @BestTraderEv were to do the same, I would request that we keep Renko and non-Renko versions separate. The focus really is on non-Renko and since this thread is still young I'd prefer not to complicate it unnecessarily.
No, it won't work on Renko! You can't change between timeframes on Renko.
I already thought about implementing Autorefresh long before anyone posted it here, but I decided to drop that topic, because of the mess it can potentially cause!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #179
  • Mar 6, 2022 8:22am Mar 6, 2022 8:22am
Quoting BestTraderEv
{quote} The Autorefresh does not work on Renko, because it can not shuffle timeframes on an offline chart, non-timeframe chart, such as Renko. It works on standard timeframes, provided you can work with what I wrote before.
I was actually thinking about that issue.
Do you think there's a possibility to make a function in the indicator that "reset" it after each new bar like "it is put by new" ?
I think it is worth to try to solve this issue also because it doesn't happen only on renko chart but also in standard chart / timeframe as i showed in my earlier videos.
  • #180
  • Mar 6, 2022 8:26am Mar 6, 2022 8:26am
Quoting ohitsyou
{quote} I don't test PlanetX against Renko charts. However it simply uses MT4's built-in iMomentum() API. Why wouldn't that work but the one dragged from the Navigator window does? I do add a bit of smoothing using iMAOnArray() -- I wonder if that breaks Momentum it on Renko. I don't know...
All I'm getting on Renko is this yellow, horizontal line at the very top of the indicator window.
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-06_152345.jpg Size: 72 KB

When I drop the default MT4 Momentun indicator, I get this:
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-06_152536.jpg Size: 91 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
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