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PlanetX Indicator - can this indi be used for trading?

  • #241
  • Mar 7, 2022 10:21am Mar 7, 2022 10:21am
Quoting FundedCoffee
Hey, thanks for sharing this great indicator. This is the way I am currently using it... I am still using the original indicator, because its a tad faster than the newer versions. {file} {image}
Beautiful chart. And thanks for the explanations and packaging-up the indicators and template. I'll have fun playing with this.

I like your alias -- I'm betting you could also fund a scone or two with your coffee...
  • #242
  • Mar 7, 2022 10:29am Mar 7, 2022 10:29am
Quoting Ttxiii
{quote} what do you mean with input v6?
I said input v6.0 !!!
Attached Image (click to enlarge)
Click to Enlarge Name: 2022-03-07_172909.jpg Size: 57 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #243
  • Mar 7, 2022 10:39am Mar 7, 2022 10:39am
Quoting BestTraderEv
{quote} M-Candles can't repaint, because it only plots candles of a higher timeframe. You can't repaint the OHLC data.
Using its default setting on an H1 chart, if you consider your first 20 bars as its "Bar[0]" then, yes, it doesn't repaint.

I wasn't thinking much when I initially tested it using Strategy Tester with GJ/H1. I saw that the current, large rectangle would often change color and height -- so, I interpreted that as repainting. It was a short time later that I grasped why it behaved as it does and then I had a much greater appreciation. I still posted my comment in case others had the same initial impression.

I've always liked ADR and M-Candles provides a really nice visual that allows me to monitor it at a glance. And it nicely compliments the PlanetX indicator.
  • #244
  • Mar 7, 2022 10:50am Mar 7, 2022 10:50am
Quoting Brambilla
{quote} Hi, I've tested the indicator and the marker issue seems "fixed" but there's still a big problem : - Once a new bar is formed The histo bars starts to mess up, they goes one onto another till there are 2 histo bar of different color on the same bar and all the histo messed up. It's the same behavior that had the markers so i guess that the solution for this problem could be the same or similar, i'm attaching a video to make things clear, ( note : in the old versions, this problem of "messing up" was related to both marker and histo bars,...
@Brambilla -- thanks for confirming the red / white marker issue appears fixed. It was @BestTraderEv's insight that the problem seemed localized to areas of low volatility that led me to a fix. I was comparing a number whether it was greater than or less than '0'. Let's say the number was 0.00000000000000001. Occasionally that value might be -0.00000000000000001 and, so, the marker would flip. Instead I now compare to a value called epsilon, where epsilon is defined as 0.000001. Now, both 0.00000000000000001 AND -0.00000000000000001 are less than epsilon and, so, the marker doesn't flip.

I hope that explanation makes sense...

As for the other Renko problem I would be in over my head thinking how to fix it. Renko bars are created offline and are displayed when they reach a specified height -- which is quite different than normal bars. Many indicators don't work on Renko charts for this reason. Perhaps PlanetX is one of them. @BestTraderEv is a better programmer than me -- perhaps he'll come up with a solution.
  • #245
  • Mar 7, 2022 12:40pm Mar 7, 2022 12:40pm
Congratulations to all the authors,
you are doing an exceptional job.
I follow you from the opening of the discussion because I work with other tools (timingsolutions) on the planetarium.
Sorry for my meddling.
Given my poor English I would like to have a few words with Brambilla.
  • #246
  • Mar 7, 2022 12:42pm Mar 7, 2022 12:42pm
Quoting BestTraderEv
{quote} I said input v6.0 !!! {image}
the signals with v6 aren't accurate like v3 my only problem is that when i close and open mt4 the signal changes
Experience is the hardest teacher. It gives you the test first, and the le
  • #247
  • Mar 7, 2022 2:39pm Mar 7, 2022 2:39pm
Quoting Ttxiii
{quote} the signals with v6 aren't accurate like v3 my only problem is that when i close and open mt4 the signal changes
I have observed that the difference is one bar, so in v3.0 we have earlier signals, but more false signals and more signals which should disappear. In v6.0 we practically get rid of the problem of those false signals, but we sacrifice the earlier signal.

Correct me if I am wrong, but it seems like you want the indicator to produce perfect signals?
That is impossible, because no indicator can do that.
We must find the best way to work with what we have. If it bothers you that signals appear and disappear, you need to refresh the indicator on every new candle. Either manually, or use the indicator I provided. It isn't perfect, either, you still need to confirm manually (click the OK button). I could code this force refreshing algorythm as an EA, and it would work better, fully automatically, but then you would have it more difficult if you are using another EA, because in MT4 only one EA can work on one chart.

Instead of crying like a baby, please figure out how you could best benefit from earlier signals taking into account the existing limitations.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #248
  • Mar 7, 2022 3:02pm Mar 7, 2022 3:02pm
Quoting Ttxiii
{quote} the signals with v6 aren't accurate like v3 my only problem is that when i close and open mt4 the signal changes
In v6 I changed to using Open price, whereas v3 uses Close price -- that may be what you're seeing, I don't know. I have no clue what you mean by "accurate" and I've never before heard of anyone who trades by repeatedly opening and closing their MT4 terminal session.

Just as in real-life everything comes with a trade-off, that's also true of trading forex. When an algorithm uses Close price then Bar[0] will fluctuate (due to recalculation) -- that's a drawback. On the other hand, when an algorithm uses Open price then at the next interval -- when Bar[0] becomes Bar[1] -- the new Bar[1]'s Open price will be the same as the previous bar's Open price (since Bar[0] becomes Bar[1]) -- that's a drawback, but Bar[0] doesn't recalculate, which is a benefit. If the indicator had been using Close price then Bar[1]'s Open price would match with the previous bar's Close price (except under certain conditions). I should add that when Open price is used there is potentially another benefit -- you can sometimes trade Bar[0].

@Ttxii -- @BestTraderEv has given you an amazing, amazing gift. He has shared many hours of his time and intellect with you. And you've returned his favor with what?
  • #249
  • Mar 7, 2022 3:29pm Mar 7, 2022 3:29pm
Quoting ohitsyou
{quote} If the indicator had been using Close price then Bar[1]'s Open price would match with the previous bar's Close price (except under certain conditions).
Well... obviously in currencies this may happen less frequently, but I can assure you that in something like Indecies, those gaps, sometimes microgaps, are pretty damn normal. Just because we can't easily see them, does not mean that they aren't there.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #250
  • Mar 7, 2022 3:47pm Mar 7, 2022 3:47pm
Quoting BestTraderEv
{quote} There is no messing problem if you use my PlanetAwesome-Oscilator-MTF-v3.0 and input v6.0. {image}
Unfortunately, I experience the problem also with your version :
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 22 KB
Are you sure it doesn't give you any problem ? It's strange because today for a while it seemed to work correctly, but then for some reasons (it seemed to me like low volatility / slow bars ) it started to mess up.
  • #251
  • Mar 7, 2022 3:49pm Mar 7, 2022 3:49pm
Quoting Start12
Congratulations to all the authors, you are doing an exceptional job. I follow you from the opening of the discussion because I work with other tools (timingsolutions) on the planetarium. Sorry for my meddling. Given my poor English I would like to have a few words with Brambilla.
Hi, of course we can.
Ciao
  • #252
  • Mar 7, 2022 3:51pm Mar 7, 2022 3:51pm
Quoting Brambilla
{quote} Unfortunately, I experience the problem also with your version : {image}Are you sure it doesn't give you any problem ? It's strange because today for a while it seemed to work correctly, but then for some reasons (it seemed to me like low volatility / slow bars ) it started to mess up.
Could you highlight on the chart what you mean by "mess up"? Also, since that is a Renko chart, then why aren't all the bars the same height?
  • #253
  • Edited 4:13pm Mar 7, 2022 3:57pm | Edited 4:13pm
Quoting Brambilla
{quote} Unfortunately, I experience the problem also with your version : {image}Are you sure it doesn't give you any problem ? It's strange because today for a while it seemed to work correctly, but then for some reasons (it seemed to me like low volatility / slow bars ) it started to mess up.
Hmmm, when I was watching it during live market, everything was fine. Though, I wasn't looking all day till the end. When I looked just now, as my market is closed, I saw a terrible mess, so you are right, this may have problems on Renko.
Unfortunately MT4 does such things, not only on Renko. I simply refresh the indicator when I see that. In my code, I have done everything that I know MQL4 allows for. Theoretically and according to the book, the indicator should calculate only when a new candle appears, meaning ticks come in, and it should clear all buffers, and then paint them anew. So, the fault is in the MT4 itself, and we have no way to correct that.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #254
  • Mar 7, 2022 4:05pm Mar 7, 2022 4:05pm
Quoting Start12
Congratulations to all the authors, you are doing an exceptional job. I follow you from the opening of the discussion because I work with other tools (timingsolutions) on the planetarium. Sorry for my meddling. Given my poor English I would like to have a few words with Brambilla.
You can send him a Private Message (PM) and that way the thread can stay on topic and we don't have to sift through the posts that you and @Brambilla exchange. Alternatively, perhaps @Brambilla could initiate the PM since he is a more experienced member.
  • #255
  • Mar 7, 2022 4:08pm Mar 7, 2022 4:08pm
Quoting ohitsyou
{quote} Could you highlight on the chart what you mean by "mess up"? Also, since that is a Renko chart, then why aren't all the bars the same height?
Hi,
For "mess up" I mean that the histo bars start to overlap, as you can see in the photo, and this happen every new bar is created.This problem is related also to the older versions ,where both the markers and the bars "overlapped" , from the 6.0 version the marker were fixed and now only the bars do this overlap. The thing that come to my mind is that is the same behavior the marker had in the past versions that you managed to correct,that's why I think the solution should be the same.I'm attaching you a video so you can also see it in real time.
I'm not sure but I think that today it seemed to work well when there was high volatility / fast bar creation while on slower pairs / low volatility it started the "mess up", that's another clue indicating the similar problem you explained that were of the markers.
Attached Image (click to enlarge)
Click to Enlarge Name: screenshot.png Size: 20 KB
Thanks !
Attached File(s)
File Type: zip messingproblem.zip   2.4 MB | 195 downloads
  • #256
  • Mar 7, 2022 4:18pm Mar 7, 2022 4:18pm
Quoting Brambilla
{quote} Hi, For "mess up" I mean that the histo bars start to overlap, as you can see in the photo, and this happen every new bar is created.This problem is related also to the older versions ,where both the markers and the bars "overlapped" , from the 6.0 version the marker were fixed and now only the bars do this overlap. The thing that come to my mind is that is the same behavior the marker had in the past versions that you managed to correct,that's why I think the solution should be the same.I'm attaching you a video so you can also see it in...
Okay -- I see, thanks. I'll also noodle on it but nothing comes to mind at the moment.

Actually, I have an idea that might work. PlanetX uses MT4's DRAW_HISTOGRAM style to draw histogram bars and this may sometimes pose a problem for Renko. I can instead substitute a line or dot. It may not be the final solution, but if using DRAW_LINE or DRAW_ARROW works in place of DRAW_HISTOGRAM then that would give us a clue how to fix this for Renko.

And again -- why aren't all your Renko bars the same height?
  • #257
  • Mar 7, 2022 4:23pm Mar 7, 2022 4:23pm
Quoting ohitsyou
{quote} Okay -- I see, thanks. I'll also noodle on it but nothing comes to mind at the moment. Actually, I have an idea that might work. PlanetX uses MT4's DRAW_HISTOGRAM style to draw histogram bars and this may sometimes pose a problem for Renko. I can instead substitute a line or dot. It may not be the final solution, but if using DRAW_LINE or DRAW_ARROW works in place of DRAW_HISTOGRAM then that would give us a clue how to fix this for Renko. And again -- why aren't all your Renko bars the same height?
Sorry I forgot to respond you, because my RenkoCreator has a Non-Gap method which basically means that Instead of plotting 1 bars that is like the others , it let you see the "gap" with an extended bar, these gaps in normal renko are "invisible".
Non gap method :
Attached Image
Standard Method :
Attached Image
  • #258
  • Mar 7, 2022 4:28pm Mar 7, 2022 4:28pm
Quoting Brambilla
{quote} Sorry I forgot to respond you, because my RenkoCreator has a Non-Gap method which basically means that Instead of plotting 1 bars that is like the others , it let you see the "gap" with an extended bar, these gaps in normal renko are "invisible".
I see -- thanks. I was just curious...
  • #259
  • Mar 7, 2022 4:30pm Mar 7, 2022 4:30pm
Quoting ohitsyou
{quote} Okay -- I see, thanks. I'll also noodle on it but nothing comes to mind at the moment. Actually, I have an idea that might work. PlanetX uses MT4's DRAW_HISTOGRAM style to draw histogram bars and this may sometimes pose a problem for Renko. I can instead substitute a line or dot. It may not be the final solution, but if using DRAW_LINE or DRAW_ARROW works in place of DRAW_HISTOGRAM then that would give us a clue how to fix this for Renko. And again -- why aren't all your Renko bars the same height?
I had a look at the Renko generator EA from Brambilla. It is some kind of author's variation. It has options to plot different types of Renko. Actually they are pseudo-Renko. The real Renko are just bricks of equal range, without any wicks, or anything else.
Also, people confuse two different ideas: Renko and Range Bar. They are similar, yet different concepts.
What Brambilla shows on the chart, I would not call Renko, but ok, whatever.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #260
  • Mar 7, 2022 4:33pm Mar 7, 2022 4:33pm
Quoting Brambilla
{quote} Sorry I forgot to respond you, because my RenkoCreator has a Non-Gap method which basically means that Instead of plotting 1 bars that is like the others , it let you see the "gap" with an extended bar, these gaps in normal renko are "invisible". Non gap method : {image}Standard Method : {image}
Well, if you have a wick there, I don't see a problem. Though, I used to create similar overlays for Renko. In fact, if we use the original Renko Bricks, we don't see the wicks, so we don't see where the price actually was.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
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