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PlanetX Indicator - can this indi be used for trading?

  • #341
  • Mar 9, 2022 5:50pm Mar 9, 2022 5:50pm
Another one of my favorite indicators is an ADR indicator created by an old friend of mine. ADR is the only metric I am aware of that you can actually touch and hold -- it's the closest thing to being carved in stone. It's never a bad idea to include it or some aspect of it in your discretionary trading, as @BestTraderEv has pointed out.

So, how do you trade with ADR? Good question -- this is how I use it... I'll generally wait until the %ADR is around 50% -- give or take 20% -- because then I feel the trend has been established and won't reverse on me before the next swing.

Attached Image (click to enlarge)
Click to Enlarge Name: PlanetX-plus-ADR.png Size: 50 KB

Attached File(s)
File Type: ex4 OIY-ADRHistIndi.ex4   71 KB | 267 downloads
  • #342
  • Mar 9, 2022 5:55pm Mar 9, 2022 5:55pm
Quoting BestTraderEv
{quote} Did you read my previous post after refreshing? Renko: {image}
Good catch -- thanks. Could you check whether this fixes it.

Attached File(s)
File Type: ex4 OIY-PlanetX-OnChart.ex4   19 KB | 258 downloads
  • #343
  • Mar 9, 2022 6:15pm Mar 9, 2022 6:15pm
And putting it all together -- PlanetX plus Trix plus ADR.

NOTE: If you plan on attaching these indis to the same chart (as I have) then you should attach the ADR indi first -- otherwise its histogram bars tend to obscure PlanetX's histogram bars.

Attached Image (click to enlarge)
Click to Enlarge Name: PlanetX-plus-ADR-plus-Trix.png Size: 74 KB

Attached File(s)
File Type: ex4 OIY-PlanetX-Hist-v8.0.ex4   26 KB | 322 downloads
Attached File(s)
File Type: ex4 OIY-PlanetX-OnChart.ex4   19 KB | 316 downloads
Attached File(s)
File Type: ex4 OIY-ADRHistIndi.ex4   71 KB | 293 downloads
Attached File(s)
File Type: ex4 OIY-TrixIndi.ex4   79 KB | 333 downloads
Attached File(s)
File Type: mq4 vertical_time_lines.mq4   7 KB | 271 downloads
  • #344
  • Mar 10, 2022 12:40am Mar 10, 2022 12:40am
Quoting ohitsyou
{quote} Good catch -- thanks. Could you check whether this fixes it. {file}
Working great!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #345
  • Mar 10, 2022 12:47am Mar 10, 2022 12:47am
Quoting ohitsyou
Another one of my favorite indicators is an ADR indicator created by an old friend of mine. ADR is the only metric I am aware of that you can actually touch and hold -- it's the closest thing to being carved in stone. It's never a bad idea to include it or some aspect of it in your discretionary trading, as @BestTraderEv has pointed out. So, how do you trade with ADR? Good question -- this is how I use it... I'll generally wait until the %ADR is around 50% -- give or take 20% -- because then I feel the trend has been established and won't reverse...
Use the Levels Plus indicator provided in the pack here:
https://www.forexfactory.com/attachment.php/4155968?attachmentid=4155968&d=1646253858
It is very customizable. I only use the h-line levels on my chart.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #346
  • Mar 10, 2022 1:26am Mar 10, 2022 1:26am
Quoting BestTraderEv
{quote} Working great!
Can you please describe briefly how you trade?
Please excuse the bad English via Google Translate.
  • #347
  • Mar 10, 2022 2:14am Mar 10, 2022 2:14am
Quoting ohitsyou
And putting it all together -- PlanetX plus Trix plus ADR. NOTE: If you plan on attaching these indis to the same chart (as I have) then you should attach the ADR indi first -- otherwise its histogram bars tend to obscure PlanetX's histogram bars. {image} {file}{file}{file}{file}{file}
Hey to all.
Mine is not a criticism. Everyone in trading trades as he wants. But I am wondering with all these indicators what is the method and the trigger?
  • #348
  • Mar 10, 2022 3:50am Mar 10, 2022 3:50am
@ohitsyou hey man had a question do you maybe know if its possible to make an option for using open price or close price?

kind regards
Experience is the hardest teacher. It gives you the test first, and the le
  • #349
  • Mar 10, 2022 4:14am Mar 10, 2022 4:14am
Quoting 19monza64
{quote} Hey to all. Mine is not a criticism. Everyone in trading trades as he wants. But I am wondering with all these indicators what is the method and the trigger?
This is discretionary trading, right? Each indicator serves a purpose -- some are more or less important than others depending and brings a different clue to the table It is up to your brain to piece the clues together. I think I've already described each indicator and why I've included it. The rest is up to you.

Here's a hint -- the title of the thread is "PlanetX Indicator -- blah, blah, blah". Now, putting on your thinking cap, which do you think is the most important indicator, at least in my mind?
  • #350
  • Mar 10, 2022 4:23am Mar 10, 2022 4:23am
Today's morning trade.
The Lucky signals were Bullish, other signals were Bullish, but I went Short.
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15.jpg Size: 486 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #351
  • Mar 10, 2022 4:26am Mar 10, 2022 4:26am
Quoting ohitsyou
{quote} ... which do you think is the most important indicator... ?
I can answer that!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #352
  • Mar 10, 2022 4:27am Mar 10, 2022 4:27am
Quoting Ttxiii
@ohitsyou hey man had a question do you maybe know if its possible to make an option for using open price or close price? kind regards
I had considered it but then decided against it. Not every algorithm can work well with Open price, but PlanetX can. There are also the benefits that (a) Strategy Tester's "Open prices" model becomes more accurate, and (b) you have the option of trading Bar[0], which gets you in a bar earlier. In my opinion these outweigh using Close price. Also, when sharing software publicly I don't like to expose lots of settings because (a) I'm not going to spend time testing all possible combinations, (b) people will find combinations that either don't work or not as they expect, and (c) there will be no end to the additional settings that will be requested. So, "lean and mean" is my motto.

I've saved y'all the time it would require to figure out what settings to use with different pairs and different time frames. The default settings I've provided work well. If the default settings don't suit you well, then...
  • #353
  • Mar 10, 2022 4:27am Mar 10, 2022 4:27am
Quoting dokopy
{quote} Can you please describe briefly how you trade?
https://www.forexfactory.com/thread/post/13926230#post13926230
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #354
  • Mar 10, 2022 4:29am Mar 10, 2022 4:29am
Quoting BestTraderEv
{quote} I can answer that!
That wouldn't be fair -- you have insider knowledge...
  • #355
  • Mar 10, 2022 4:32am Mar 10, 2022 4:32am
Quoting ohitsyou
{quote} That wouldn't be fair -- you have insider knowledge...
Wish I had that knowledge, I don't, I just know how this works.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #356
  • Mar 10, 2022 4:44am Mar 10, 2022 4:44am
Quoting dokopy
{quote} Can you please describe briefly how you trade?
Here is a bit more.
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15_check.jpg Size: 520 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #357
  • Mar 10, 2022 4:51am Mar 10, 2022 4:51am
Quoting BestTraderEv
{quote} Here is a bit more. {image}
Wow -- very cool. I particularly like where you pointed out the bearish wick and said to look left. I just learned something new. Thank you...
  • #358
  • Mar 10, 2022 5:06am Mar 10, 2022 5:06am
@ohitsyou, Hello , till now I can confirm the v7.0 has no charting issue and it seems stable, but just now, i've noticed in live chart this behavior and i'm not sure if it's a "problem" or it's a thing that "can happen" so it's okay :
A marker plotted in Bar [1] disappearead after the closing of Bar [0],is it a thing that can happen ?
Thank you
  • #359
  • Edited 5:27am Mar 10, 2022 5:12am | Edited 5:27am
Quoting ohitsyou
{quote} Wow -- very cool. I particularly like where you pointed out the bearish wick and said to look left. I just learned something new. Thank you...
So, basically I've been entering in places where oscillators and indicators don't know shit, correct?
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #360
  • Mar 10, 2022 5:18am Mar 10, 2022 5:18am
Quoting Brambilla
@ohitsyou, Hello , till now I can confirm the v7.0 has no charting issue and it seems stable, but just now, i've noticed in live chart this behavior and i'm not sure if it's a "problem" or it's a thing that "can happen" so it's okay : A marker plotted in Bar [1] disappearead after the closing of Bar [0],is it a thing that can happen ? Thank you
I would say it is a thing that normally should happen, if the indicator is recalculating and the recalculation changes the signal.
I will repeat, the oscillator does not have future data, so it can not show a perfect signal on even Bar[1].
You can think of it this way: the signal may be good, but we are not able to take the few points that the price reacted at this signal. Simply, the price change for that signal was way too small for us to be able to take the profit, for many reasons.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
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