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PlanetX Indicator - can this indi be used for trading?

  • #441
  • Mar 12, 2022 12:18am Mar 12, 2022 12:18am
Quoting BestTraderEv
I may be delusional, but I'm earning for my potential future Stop Losses: {image}
pls Besttraderev i just PM you
  • #442
  • Mar 12, 2022 1:12am Mar 12, 2022 1:12am
Quoting joycometh
{quote} pls Besttraderev i just PM you
Attached File(s)
File Type: ex4 KAY_DualTimeFrameMACD.ex4   13 KB | 289 downloads
Attached File(s)
File Type: ex4 super macd v1.0_.ex4   64 KB | 315 downloads
Attached File(s)
File Type: mq4 super macd v1.0_.mq4   60 KB | 364 downloads
  • #443
  • Mar 12, 2022 1:33am Mar 12, 2022 1:33am
Hi Ohitsyou
I love your work!
Just saw this thread this morning and I am excited about this PlanetX indicator. it has a lot of potential.
One request though... Can you give us a little more freedom with the blue and purple? Like make it possible for the trader to change the colors and adjust the thickness of the bars? I tried...but when I go to another chart and return to the one I just adjusted, it defaults back to blue and purple.
I hope I'm not playing the Oliver Twist and asking for too much here?
It's already a great indicator. will be ,working with it and posting results here, as well as indicators I combine with when the markets open next week.
Thanks once again for this tool.
Simplicity delivers success
  • #445
  • Mar 12, 2022 3:57am Mar 12, 2022 3:57am
Quoting joycometh
{quote} pls Besttraderev i just PM you
If you, or anybody, want voluntary work, please start your own public thread here, on FF, and I will look into it, if I am interested.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #446
  • Mar 12, 2022 5:20am Mar 12, 2022 5:20am
ohitsyou and besttraderev deserve a compliment or two, they have done excellent work here.. keep up the great work, cpfleger
  • #447
  • Mar 12, 2022 6:15am Mar 12, 2022 6:15am
Quoting BestTraderEv
{quote} If you, or anybody, want voluntary work, please start your own public thread here, on FF, and I will look into it, if I am interested.
@Besttraderev, pls dont take it the wrong way, we are all trying to see a combination of indicators that can work with planetx. not as if i have any private agenda

Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYH1.png Size: 64 KB
  • #448
  • Mar 12, 2022 8:32am Mar 12, 2022 8:32am
Update!

Attached File(s)
File Type: ex4 PlanetAwesome-Oscilator-v5.2.ex4   24 KB | 337 downloads

What's new?

1. All buffers have been labeled,
2. "PlotSignalArrows" is now "PlotCrossSignalArrows", so now the cross signals and the early signals can be displayed and hidden individually,
3. "FilterCrossSignalsByAO" is a new function which filters out the markers where the AO oscillator is showing the opposite direction.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #449
  • Mar 12, 2022 8:38am Mar 12, 2022 8:38am
At this moment my working chart looks like this (attached image).
I don't like the way the markers work on OIY-PlanetX-OnChart, so I switch them off in the colors tab.
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15.jpg Size: 428 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #450
  • Mar 12, 2022 8:41am Mar 12, 2022 8:41am
Quoting joycometh
{quote} @Besttraderev, pls dont take it the wrong way, we are all trying to see a combination of indicators that can work with planetx. not as if i have any private agenda {image}
No, I am not trying to see a combination of indicators that can work with planetx. Such a thing does not exist. If you don't understand what you are looking at (reading with understanding), no indicators will ever help you.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #451
  • Mar 12, 2022 9:28am Mar 12, 2022 9:28am
Quoting BestTraderEv
{quote} No, I am not trying to see a combination of indicators that can work with planetx. Such a thing does not exist. If you don't understand what you are looking at (reading with understanding), no indicators will ever help you.
you very wrong, why denied the obvious if actually you are not trying to see combination that can work with planet . if the indicators you have can help you why changing/ adding /removing indicators every now and then.
  • #452
  • Mar 12, 2022 10:04am Mar 12, 2022 10:04am
Quoting joycometh
{quote} you very wrong, why denied the obvious if actually you are not trying to see combination that can work with planet . if the indicators you have can help you why changing/ adding /removing indicators every now and then.
I look for indicators which best work with the CHART!
If you think you know better what I am, then I might not want to deal with you any more, so you know what you can go do with yourself!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #453
  • Mar 12, 2022 10:34am Mar 12, 2022 10:34am
Quoting BestTraderEv
{quote} I look for indicators which best work with the CHART! If you think you know better what I am, then I might not want to deal with you any more, so you know what you can go do with yourself!
Anyways, you just agree that you are looking for indicators, either work with chart or not, if you do it, its for the public ,if not someone else will. the fact that you are a coder does not make you a better trader than me, i cant stand you telling me (read with understanding) insolent
  • #454
  • Mar 12, 2022 11:32am Mar 12, 2022 11:32am
Quoting SwingMan
{quote} Here are Bill Williams' trading patterns. The bars not drawn with color, can be green or red. {image}
Does the book say anything more specific about the Twin Peaks pattern, in the sense of the number of bars?
Is the number of bars fixed like in your image? Or not?
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #455
  • Mar 12, 2022 12:46pm Mar 12, 2022 12:46pm
I have been thinking about those AO patterns and I have done some research on this topic. I found a whole trading system based on Bill Williams indicators with those patterns, amongst others. After analizing those signals I do not find them to be much of a use for the style of trading that I am doing. The early signals I have provided are much better, because they tell me where I should start watching the price action on the chart for a potential swing, where my Stop Loss is still tight.

If someone is interested, this system can be found here:
https://www.mql5.com/en/articles/2049

This system is for the MT5 platform.

PS. Don't take me wrong! I am not saying that it isn't worth learning to recognize those patterns, I just think it isn't worth bothering to code them onto the oscillator.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #456
  • Mar 12, 2022 1:09pm Mar 12, 2022 1:09pm
Quoting BestTraderEv
... The early signals I have provided are much better, because they tell me where I should start watching the price action on the chart for a potential swing, where my Stop Loss is still tight.
You are right if one trades discretionary. Your "Histo Color Changing" patterns are of course very good, and you can also compare them with a similar pattern on the Accelerator indicator, it would be interesting.
In order to write a book, BW couldn't tell the many seminar participants to pay attention after the color change and do what they want...

As a change on the weekend one can read the little AC trading idea here
TRADING IDEAS BASED ON PRICES DIRECTION AND MOVEMENT SPEED ( https://www.mql5.com/en/articles/1747)
  • #457
  • Edited 3:24pm Mar 12, 2022 2:03pm | Edited 3:24pm
Quoting BestTraderEv
I have been thinking about those AO patterns and I have done some research on this topic. I found a whole trading system based on Bill Williams indicators with those patterns, amongst others. After analizing those signals I do not find them to be much of a use for the style of trading that I am doing. The early signals I have provided are much better, because they tell me where I should start watching the price action on the chart for a potential swing, where my Stop Loss is still tight. If someone is interested, this system can be found here: https://www.mql5.com/en/articles/2049...
[quote=BestTraderEv;13930304I just think it isn't worth bothering to code them onto the oscillator.[/quote]

Too late -- did you see my post #440 (https://www.forexfactory.com/thread/post/13929990#post13929990)

@BestTraderEv -- I'm not as fixed in my ways. I think all "data points" can provide a clue and the net result mostly depends on the brain that is tasked with connecting the dots. In my post I intentionally did not mention how I would use the AO patterns for trading -- because I don't know, yet. They are new to me and I would need time to noodle on them. Also, I've had the experience of initially discounting something new and different only to figure out later there was a hidden gem -- e.g. like your addition of the Awesome signals to PlanetX. Bill Williams is no slouch and @Swingman made it easy by posting an image that saved my lazy bones from having to do another Google search or reading a book -- which I don't have patience for. So even though I'm not sure how I would use it, I decided to give it a test drive...
  • #458
  • Edited 3:24pm Mar 12, 2022 2:43pm | Edited 3:24pm
Quoting joycometh
{quote} {file}{file}{file}
I just now took a look at the Super MACD indicator that you posted -- I like it and also that you supplied the source (though it's decompiled). What caught my attention wasn't so much the histogram bars, but the fast and slow EMA lines.

The biggest nemesis (i.e. enemy) of discretionary traders are false positives / head fakes. When looking at the Super MACD and PlanetX indicators I could see that the Super MACD could be used to avoid head fakes -- of course, not always, but sometimes. It may provide yet another clue in the trading puzzle.

I like trading 28 pairs on H1 -- both algorithmically and discretionary. And when discretionary trading I don't do nearly as much analysis as other traders -- I'm lazy in that way. At the top of the hour I'll traverse 28 pairs and glance at each chart for a few seconds -- Enter a trade or move on. What I see with this Super MACD indicator is that it occasionally would have advised against a PlanetX alert signal. Check-out the chart below -- the vertical yellow lines mark 3 PlanetX SELL alerts that Super MACD treats (correctly) as head fakes. It doesn't work all the time -- but in a glance and with zero stress on the brain you get another clue.

Attached Image (click to enlarge)
Click to Enlarge Name: PlanetX-plus-SuperMACD.png Size: 45 KB



PS: Full disclosure -- I do not take into account RR. I don't have anything against it -- just that it is not my style. As a programmer I can take a hybrid approach -- Enter discretionary and Exit algorithmically. Typically, my StopLoss is 2.4x ADR and my Exit is the next transition. I'm not suggesting that others adopt that -- I'm just letting you know that's how I like to trade. That doesn't mean we can't share the same tools -- just that I may use them differently than someone else.
  • #459
  • Mar 12, 2022 3:36pm Mar 12, 2022 3:36pm
Quoting ohitsyou
{quote} Too late -- did you see my post #440 (https://www.forexfactory.com/thread/post/13929990#post13929990)
Yes, I did, and I saw your indicator on the chart, and I noticed it wasn't good.
I also checked the BW system I posted, and I saw that again, the patterns taken out of context mean nothing, and are often too late. So, I thought that those patterns are relatively easy and only 3, so it's not a big deal to learn them and apply when the chart context is right.
The Saucer patterns are useful as trend continuation signals, like a wave that is intesifying.
The Cross patterns are basically where your markers are.
The Twin Peaks patterns are basically revesal patterns signifying that the trend is weakening.
Too much information on one chart is just as bad as too little. One must find a perfect balance.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #460
  • Mar 12, 2022 3:52pm Mar 12, 2022 3:52pm
Quoting ohitsyou
{quote} I just now took a look at the Super MACD indicator that you posted -- I like it and also that you supplied the source (though it's decompiled). What caught my attention wasn't so much the histogram bars, but the fast and slow EMA lines. The biggest nemesis (i.e. enemy) of discretionary traders are false positives / head fakes. When looking at the Super MACD and PlanetX indicators I could see that the Super MACD could be used to avoid head fakes -- of course, not always, but sometimes. It may provide yet another clue in the trading puzzle....
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15.jpg Size: 438 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
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