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Attachments: PlanetX Indicator - can this indi be used for trading?
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PlanetX Indicator - can this indi be used for trading?

Quoting BestTraderEv
{quote} 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.
Yes indeed there's no problem, i'm using that version because i bumped into it and I get used to it.and i'm OK with that. I also enjoy the normal renko, probably it's even more "clean", but for now i'll stick to this one.
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?
It does not matter. If it is plotted by buffers, it wil do the same. I will show you what sometimes happens with your OnChart indicator on Renko. When I can get the image.
Quoting Brambilla
{quote} Yes indeed there's no problem, i'm using that version because i bumped into it and I get used to it.and i'm OK with that. I also enjoy the normal renko, probably it's even more "clean", but for now i'll stick to this one.
Give this version a try -- it uses the same data but charts a line instead of a histogram.

Attached File
File Type: ex4 OIY-PlanetX-Line-v7.0.ex4   30 KB | 79 downloads
Quoting ohitsyou
{quote} Give this version a try -- it uses the same data but charts a line instead of a histogram. {file}
Hi,
Unfortunately the problem is still there , i think the issue is undermined in the algorithm part, and i feel is kinda the same of the markers.

Thanks to you and @BestTraderEv for the constant updating and problem solving.
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Quoting Brambilla
{quote} Hi, Unfortunately the problem is still there , i think the issue is undermined in the algorithm part, and i feel is kinda the same of the markers. Thanks to you and @BestTraderEv for the constant updating and problem solving. {image}
Actually -- that might be progress. Try this one...

Attached File
File Type: ex4 OIY-PlanetX-Line-v7.0.ex4   30 KB | 141 downloads
Quoting ohitsyou
{quote} Actually -- that might be progress. Try this one... {file}
Finally, now it seems it works correctly :
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While the old version overlapped this one remained stable, at least for now it seems good and stable, i'll update if i notice something suspicious.
Nice Job ! Can i know what was the issue ?
I don't know... Now the market is very slow, it has been runing for about 40 minutes and everything seems fine.
We can clearly see the difference between the OnChart, which is running on the older version, and the v6.0 ascillator.
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Quoting Brambilla
{quote} Finally, now it seems it works correctly : {image}While the old version overlapped this one remained stable, at least for now it seems good and stable, i'll update if i notice something suspicious. Nice Job ! Can i know what was the issue ?
It's an MT4 charting issue -- it has nothing to do with the algorithm. It might also have something to do with the fact that Renko data is created offline -- in a FILE. And the data in the file is subsequently fed to the chart.

Normal (non-Renko) chart:
Let's say there is a bullish trend -- then blue histogram bars are displayed and purple histogram bars are **automatically** hidden.

Renko chart:
Again, a bullish trend -- blue histogram bars are displayed and purple histogram bars are given a value of '0'. But in the Renko world '0' is a valid height and may appear on the chart.

The solution was to explicitly hide markings that would otherwise automatically be hidden by MT4 on a normal chart.
This happens, sometimes:

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So, I make it back to this:
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Quoting BestTraderEv
This happens, sometimes: {image} So, I make it back to this: {image}
It's a "feature"...

What did you do to fix it? Some offset from the open / close of each bar?
  • Post #271
  • Quote
  • Edited at 6:37am Mar 8, 2022 4:24am | Edited at 6:37am
Quoting ohitsyou
...Since I'm sharing then I would expect anyone who finds this indicator useful to get with the spirit of things and do the same -- and that includes posting comments, advice, observations and thoughtful questions. What I am particularly interested in are other indicators that work well with PlanetX. If it appears that FF is dominated by timid souls who only take and never share then I will likely lose interest and bin the thread...
In another thread I posted the BodySwitch indicator.
Here I made a small adjustment to be able to compare the trading signals with the PlanetX indicator, and I did that only because the signals are very similar in some places.
Surely one would have to adjust the indicator a bit, but I just wanted to post a small contribution to this thread.

Maybe one can use the BBsqueeze as a filter for unnecessary trades.
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Attached Files
File Type: ex4 smPlanetY OnChart.ex4   25 KB | 187 downloads
File Type: ex4 bbsqueeze_darkw1b.ex4   13 KB | 171 downloads
File Type: mq4 bbsqueeze_darkw1b.mq4   5 KB | 179 downloads
smBodySwitch 3.5.0 Profit This Week: na
Quoting SwingMan
{quote} In another thread I posted the BodySwitch indicator. Here I made a small adjustment to be able to compare the trading signals with the PlanetX indicator, and I did that only because the signals are very similar in some places. Surely one would have to adjust the indicator a bit, but I just wanted to post a small contribution to this thread. Maybe one can use the BBsqueeze as a filter for unnecessary trades. {image} {file}
what DL BBsqueeze_darkw ??
Hi,

Ive just made a really nice backtest with your indicator and I cannot even code! check this out
A few little improvements in version 2 and this will be rocking profits

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This little system here searches for your indicator inside my MT4 and allows me to automate it
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Thank you
4 hours later still no issues:
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  • Post #275
  • Quote
  • Edited at 6:32am Mar 8, 2022 6:06am | Edited at 6:32am
Quoting ohitsyou
{quote} It's a "feature"... What did you do to fix it? Some offset from the open / close of each bar?
Nah, I just restart the indicators. 5 mouse clicks for indicator.
On Renko. On timeframes I just shuffle tf's once.
Quoting SwingMan
{quote} In another thread I posted the BodySwitch indicator. Here I made a small adjustment to be able to compare the trading signals with the PlanetX indicator, and I did that only because the signals are very similar in some places. Surely one would have to adjust the indicator a bit, but I just wanted to post a small contribution to this thread. Maybe one can use the BBsqueeze as a filter for unnecessary trades. {image} {file} {file} {file}
Thanks for the contribution!
I want to show this:
Where the white v-line, your indi signals short.
When we look at the oscillators, it is long.
This is the direction we should take!
Both in trading, and in developing better signals indicators.
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I just added a few more sections to this system and now look

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If the total account profit is above the threshold it closes all positions
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Quoting SwingMan
{quote} In another thread I posted the BodySwitch indicator. Here I made a small adjustment to be able to compare the trading signals with the PlanetX indicator, and I did that only because the signals are very similar in some places. Surely one would have to adjust the indicator a bit, but I just wanted to post a small contribution to this thread. Maybe one can use the BBsqueeze as a filter for unnecessary trades. {image} {file} {file} {file}
I really like the BodySwitch indicator. I'm going to take a closer look. It looks like it might even get us into a trade a bar or two earlier. Thank you @SwingMan...
The biggest problem a trader has is that we are never there when the best opportunity comes...

Anyways, for this moment I am satisfied with what I have, yet I will be working on better signals.
Image attached.
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Quoting ohitsyou
{quote} I really like the BodySwitch indicator. I'm going to take a closer look. It looks like it might even get us into a trade a bar or two earlier. Thank you @SwingMan...
I think a better signal is one that gives a better chance of price going in our direction, not necessarily an earlier one. But, then again, maybe it's just me???
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