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PlanetX Indicator - can this indi be used for trading?

  • #421
  • Mar 11, 2022 5:42am Mar 11, 2022 5:42am
Quoting SwingMan
{quote}I see many beautiful lines and signs in your charts. I also programmed something like this (Fractal Levels) and posted it somewhere. {image} {image} {file}
The lines I have on my charts are:
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15.jpg Size: 503 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #422
  • Mar 11, 2022 9:22am Mar 11, 2022 9:22am
I may be delusional, but I'm earning for my potential future Stop Losses:
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15.jpg Size: 441 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #423
  • Mar 11, 2022 9:34am Mar 11, 2022 9:34am
Quoting BestTraderEv
{quote} I, most probably, did not understand your questions, properly, I am sorry. I use any indicator signals, including such signals from any oscillator in the context of what is happening on the chart. No, I have not read any books, though I have studied lots of trading concepts and ideas. I come from the school of Supply/Demand patterns on the charts. The rest is tens of thousands of hours spent on figuring out the charts and my own psyche in the context of trading. What I observe is that most traders, and traders to be, have the wrong mindset,...
OMG -- why didn't you post this 5 years ago? You could have saved me much pain!! This is the most informative and valuable and honest post I've ever read. Thank you, thank you...
  • #424
  • Mar 11, 2022 9:43am Mar 11, 2022 9:43am
Here my lines:
Attached Image (click to enlarge)
Click to Enlarge Name: Ger40.PNG Size: 42 KB
  • #425
  • Mar 11, 2022 11:15am Mar 11, 2022 11:15am
Quoting SwingMan
Here my lines: {image}
Lots of functions not working in your Fractals indi!!!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #426
  • Mar 11, 2022 12:10pm Mar 11, 2022 12:10pm
Update!

Now PlanetAwesome-Oscilator-v5.0 !

Attached File(s)
File Type: ex4 PlanetAwesome-Oscilator-v5.0.ex4   20 KB | 256 downloads

What's new?

Relating to my previous posts I have coded the early Awesome Oscillator signals.
There is a new PlotEarlySignalArrows parameter input set to "true" by default.
There is a new AO_Min_Absolute_Value parameter input set to "0.0" by default.
Here, we can input a minimum absolute value of the Awesome Oscillator bar when the early signals must appear.
This value will be different for individual instruments and for different timeframes, so you need to do the statistical research for which value would be the optimal for your context of trading.
This value is normalized to 6 decimal digits.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #427
  • Mar 11, 2022 12:18pm Mar 11, 2022 12:18pm
Quoting BestTraderEv
...Lots of functions not working in your Fractals indi!!!
Maybe, but what you see is what one need...

Sure if a user finds something that doesn't work, one can correct it. But so far maybe one or two members have been using the indicator for a while.

Writing an EA is also interesting. The trading theory behind this is quite complicated and can be found in Charles Lindsay's book "Trident, a Trading Strategy".
Attached Image (click to enlarge)
Click to Enlarge Name: Trident Book.jpg Size: 3 KB

A buyer writes in his comment:
Quote
If you want to make money in the markets this is the only book you will ever need. But be sure you understand what Charles is telling you. Remember there is only one reason for trading commodity's. It is to make money. It does not make you smarter or a market maven it teaches you how to follow a strategy. It is the strategy that works, not your insight. I became aware of this trading strategy in 1979 and it still works today in 2015. Is can't not work because it is based on market action. If you buy this book and get it you can become very rich.
  • #428
  • Mar 11, 2022 12:41pm Mar 11, 2022 12:41pm
Quoting SwingMan
{quote} Maybe, but what you see is what one need... Sure if a user finds something that doesn't work, one can correct it. But so far maybe one or two members have been using the indicator for a while. Writing an EA is also interesting. The trading theory behind this is quite complicated and can be found in Charles Lindsay's book "Trident, a Trading Strategy". {image} A buyer writes in his comment: {quote}
LOL, if the strategy will make you rich, why would anyone sell books?
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #429
  • Mar 11, 2022 1:35pm Mar 11, 2022 1:35pm
Quoting BestTraderEv
Update! Now PlanetAwesome-Oscilator-v5.0 ! {file} What's new? Relating to my previous posts I have coded the early Awesome Oscillator signals. There is a new PlotEarlySignalArrows parameter input set to "true" by default. There is a new AO_Min_Absolute_Value parameter input set to "0.0" by default. Here, we can input a minimum absolute value of the Awesome Oscillator bar when the early signals must appear. This value will be different for individual instruments and for different timeframes, so you need to do the statistical research for which value...
VERY interesting and clever -- this concept of an EARLY signal. I like it a lot.

A pattern that I noticed -- not always, but fairly often -- is that a strong transition is preceded by an early signal, whereas a weak transition is not. So, though I wouldn't enter a trade based on an early signal, I would enter a trade if a transition signal was preceded by an early signal.

@BestTraderEv -- if that pattern is apparent to you, as well, then perhaps consider color coding early and transition signals in a way that is more visually striking. For example, early BUY is light blue, transition BUY is BLUE, early SELL is pink, transition SELL is red -- or something like that.

I do pay attention to the Awesome indicator you introduced to PlanetX, but my attention was kind of muddy and not formalized. But now with your EARLY concept it is much more concrete and I know exactly what to look for. And by giving it a name -- EARLY -- then you also validated the change in slope and color that Awesome displays. No longer is it simply a change in color or slope, but it's an EARLY signal.

@BestTraderEv -- thank you for this addition and innovation.
  • #430
  • Mar 11, 2022 1:36pm Mar 11, 2022 1:36pm
Quoting BestTraderEv
{quote} LOL, if the strategy will make you rich, why would anyone sell books?
To make the world a better place?
  • #431
  • Mar 11, 2022 2:25pm Mar 11, 2022 2:25pm
Quoting BestTraderEv
... LOL, if the strategy will make you rich, why would anyone sell books?
That was the honest opinion of a user after 35 years of practice.
Unfortunately the book author did not know that his idea could be so successful and died poor...
  • #432
  • Edited 2:46pm Mar 11, 2022 2:28pm | Edited 2:46pm
Quoting BestTraderEv
Update! Now PlanetAwesome-Oscilator-v5.0 !
Here are Bill Williams' trading patterns.

The bars not drawn with color, can be green or red.
Attached Image (click to enlarge)
Click to Enlarge Name: CCI_000001.jpg Size: 174 KB
  • #433
  • Mar 11, 2022 2:35pm Mar 11, 2022 2:35pm
Quoting SwingMan
{quote} Here are Bill Williams' trading patterns: {image}
Very interesting -- I see those now. You had mentioned these patterns previously, and though I was not familiar with them I was too LAZY to look them up. But now I get it. The Awesome indicator brings more clues to the table than I had realized. That one image you posted will stick in my brain for many (I hope) years to come.

@Swingman -- thank you for making it easy to understand...
  • #434
  • Mar 11, 2022 2:58pm Mar 11, 2022 2:58pm
Quoting ohitsyou
{quote} Very interesting -- I see those now. You had mentioned these patterns previously, and though I was not familiar with them I was too LAZY to look them up. But now I get it. The Awesome indicator brings more clues to the table than I had realized. That one image you posted will stick in my brain for many (I hope) years to come. @Swingman -- thank you for making it easy to understand...
That is the power of a think-tank!
We bounce ideas of each other and something is born!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #435
  • Mar 11, 2022 3:17pm Mar 11, 2022 3:17pm
Quoting BestTraderEv
{quote} That is the power of a think-tank! We bounce ideas of each other and something is born!
Yeah, yeah -- what a concept!! Who would'a thought...
  • #436
  • Mar 11, 2022 3:21pm Mar 11, 2022 3:21pm
Quoting SwingMan
{quote} Here are Bill Williams' trading patterns. The bars not drawn with color, can be green or red. {image}
These are, actually, patterns, they are, sort of, minature representation on chart patterns.
You could say that I look for those on the chart.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #437
  • Mar 11, 2022 3:29pm Mar 11, 2022 3:29pm
Quoting BestTraderEv
...You could say that I look for those on the chart.
I have seen that.
But the authors also give their children names...

Perhaps you draw a different arrow for the AO signals, so that they can be distinguished more easily from the Planet's signals.
  • #438
  • Mar 11, 2022 3:51pm Mar 11, 2022 3:51pm
Update!

Attached File(s)
File Type: ex4 PlanetAwesome-Oscilator-v5.1.ex4   23 KB | 398 downloads

Seperate buffers for early AO signals enable us to select different colors.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #439
  • Mar 11, 2022 6:29pm Mar 11, 2022 6:29pm
Quoting BestTraderEv
Update! {file} Seperate buffers for early AO signals enable us to select different colors.
@BestTraderEv -- another masterpiece, but what took you so long? I'm going to enjoy using this -- thank you.

PS: I'm updating post #1 with v5.1 of your PlanetAwesome indicator.
  • #440
  • Mar 11, 2022 10:53pm Mar 11, 2022 10:53pm
Thanks to @SwingMan and @BestTraderEv I now have a greater appreciation of the Awesome indicator and Bill Williams' trading patterns. The Awesome indicator blends a unique combination of moving average plus price action -- which you rarely find in a single indicator.

Again, here are the Bill Williams' pattern (taken from @Swingman's post):
Attached Image (click to enlarge)
Click to Enlarge Name: AO-Buy-Sell-Signals.png Size: 295 KB

Here is a chart that shows my implementation, where (1) Saucer, (2) Cross, (3) Twin Peaks. I've exposed the dynamic buffers used by the indicator, as you can see from the Data Window to the left of the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: OIY-AwesomePatterns-Indi.png Size: 44 KB

Attached File(s)
File Type: ex4 OIY-AwesomePatterns-Hist.ex4   18 KB | 360 downloads

This indicator does NOT replace my PlanetX or @BestTraderEv's PlanetAwesome (with early alerts) indicators. Each is a different tool that comes with the expectation that craftsmen will mix and match as they see fit. This is discretionary trading, so the exercise is left to the reader to detect and decipher the clues revealed by the different indicators.
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