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PlanetX Indicator - can this indi be used for trading?

  • #501
  • Mar 15, 2022 11:51am Mar 15, 2022 11:51am
Quoting BestTraderEv
...it does not matter how many diplomas or titles this person has - it does not make him an authority in trading.
Who said that?
Lindsay seems to come from another world, not from the trading world...
He is a great Shaman and has close connections with Extra-Terestrial Intelligences.
The Trident system was perhaps a sin of his youth.
  • #502
  • Mar 15, 2022 11:52am Mar 15, 2022 11:52am
Quoting SwingMan
{quote} Who said that? Lindsay seems to come from another world, not from the trading world... He is a great Shaman and has close connections with Extra-Terestrial Intelligences. The Trident system was perhaps a sin of his youth.
@SwingMan
PS. I just had a good laugh!
You even confused the people!
Charles L. Lindsay is not the same person as the SETI Director!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #503
  • Mar 15, 2022 12:02pm Mar 15, 2022 12:02pm
Quoting BestTraderEv
{quote} @SwingMan PS. I just had a good laugh! You even confused the people! Charles L. Lindsay is not the same person as the SETI Director!
@BestTraderEv
PS. I just had a good laugh!
You even confused the people!
Charles Lindsay is the same person as the SETI Director!
Or not?
https://bookshop.org/books/trident-a-trading-strategy/9780930233488
  • #504
  • Mar 15, 2022 12:50pm Mar 15, 2022 12:50pm
Quoting SwingMan
{quote} @BestTraderEv PS. I just had a good laugh! You even confused the people! Charles Lindsay is the same person as the SETI Director! Or not? https://bookshop.org/books/trident-a-trading-strategy/9780930233488
OK, I was wrong! The information on the web is not clear.
Charles L. Lindsay was a man who died in 1936.
Anyways, still he's not an authority on trading financial instruments.
Apart from the book there is zero information about his trading career.

Never mind, let's rather concentrate on the topic at hand.
If anything provides me the most valuable confirmation at this moment is the two MACD moving averages combined with the oscillators.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #505
  • Mar 15, 2022 1:21pm Mar 15, 2022 1:21pm
Thought I would change up the conversation a bit. I have been giving the latest histo version of PlanetX a spin and comparing it to an indicator that I usually have on my chart, the Blau TVI. They are pretty close if you ignore the circle signal on PlanetX and look for when the thin histo bar on Planet X changes colour. For those that are interested.
Attached Image (click to enlarge)
Click to Enlarge Name: Blau TVI vs Planet X.png Size: 301 KB
  • #506
  • Mar 15, 2022 1:25pm Mar 15, 2022 1:25pm
Quoting pakeha
Thought I would change up the conversation a bit. I have been giving the latest histo version of PlanetX a spin and comparing it to an indicator that I usually have on my chart, the Blau TVI. They are pretty close if you ignore the circle signal on PlanetX and look for when the thin histo bar on Planet X changes colour. For those that are interested. {image}
Just took a trade:
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15.jpg Size: 499 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #507
  • Mar 15, 2022 2:24pm Mar 15, 2022 2:24pm
Quoting pakeha
Thought I would change up the conversation a bit. I have been giving the latest histo version of PlanetX a spin and comparing it to an indicator that I usually have on my chart, the Blau TVI. They are pretty close if you ignore the circle signal on PlanetX and look for when the thin histo bar on Planet X changes colour. For those that are interested. {image}
If you want to trade histogram color changes at extremes, you need to know if that is the actual extreme, and you never know that. What I'm trying to say is that usually if there is a swing at those signals, it is a fast move without any confirmation, so we are risking by not knowing where the Stop Loss must be. And, in practice, we get a series of Stop Losses before we get one good trade. This results in us being unable to cover the losses in one trade, which leads to a series of unwanted psychological effects.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #508
  • Mar 15, 2022 2:55pm Mar 15, 2022 2:55pm
This was one of those super discretionary moments. Don't ask me how I knew when to get out - I just got out.
Attached Image (click to enlarge)
Click to Enlarge Name: [DAX40]M15.jpg Size: 504 KB
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #509
  • Mar 15, 2022 5:04pm Mar 15, 2022 5:04pm
Quoting BestTraderEv
{quote} If you want to trade histogram color changes at extremes, you need to know if that is the actual extreme, and you never know that. What I'm trying to say is that usually if there is a swing at those signals, it is a fast move without any confirmation, so we are risking by not knowing where the Stop Loss must be. And, in practice, we get a series of Stop Losses before we get one good trade. This results in us being unable to cover the losses in one trade, which leads to a series of unwanted psychological effects.
Agreed, was just trying to compare one indicator to another. I trade price action at either London open or NY open, so for me these sorts of indicators would be simply be used for confirmation purposes, rather than a swing signal.
  • #510
  • Mar 15, 2022 5:11pm Mar 15, 2022 5:11pm
Quoting BestTraderEv
{quote} Cool, though I am not being successful because of this indicator that you provided! I am watching it's behaviour and seeing if it is a useful one, or not really. So far the conclusion is not really. You see, though you accuse me of not knowing how this indicator works, I have been there before, I have studied tons of indicators based on fractals, or other ideas. Basically, if one needs to understand the chart in order to understand the indicator, then why bother to understand the indicator, when it's all in the chart, anyways? We need some...
@BestTraderEv -- I've worked with @SwingMan before -- he has no agenda, other than to help us...

Are you ready for those beers?

PS: Okay, I just saw the subsequent posts. Let's lay this issue to rest and just figure out the best way to work together without stepping on anyone's toes...
  • #511
  • Mar 15, 2022 5:32pm Mar 15, 2022 5:32pm
Quoting ohitsyou
{quote} @BestTraderEv -- I've worked with @SwingMan before -- he has no agenda, other than to help us... Are you ready for those beers? PS: Okay, I just saw the subsequent posts. Let's lay this issue to rest and just figure out the best way to work together without stepping on anyone's toes...
I'm ok with @SwingMan, though he has a funny English style I need to get used to.
Like, he tells me to "watch out", and I'm confused what he is warning me about...
I appreciate that he is willing to help out.

Though, I am pretty keen on logic and logical fallacies, so I will point them out when I see them.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #512
  • Edited 6:03pm Mar 15, 2022 5:36pm | Edited 6:03pm
Quoting BestTraderEv
{quote} I'm ok with @SwingMan, though he has a funny English style I need to get used to. Like, he tells me to "watch out", and I'm confused what he is warning me about... I appreciate that he is willing to help out. Though, I am pretty keen on logic and logical fallacies, so I will point them out when I see them.
Fair enough -- and be prepared for his sense of humor, it can catch you off-guard. In addition to coding software it's one of his best qualities and another reason why it is both an honor and pleasure to work with him...
  • #513
  • Mar 16, 2022 12:01am Mar 16, 2022 12:01am
Quoting BestTraderEv
{quote} I'm ok with @SwingMan, though he has a funny English style I need to get used to. Like, he tells me to "watch out", and I'm confused what he is warning me about... I appreciate that he is willing to help out. Though, I am pretty keen on logic and logical fallacies, so I will point them out when I see them.
As a heads-up -- I may get myself suspended for ruffling some feathers. So, if you don't hear from me for awhile it's not because I've lost interest. Please carry on as you see fit. This thread is yours as much as it is mine.
  • #514
  • Mar 16, 2022 3:14am Mar 16, 2022 3:14am
Quoting BestTraderEv
... I'm ok with @SwingMan, though he has a funny English style I need to get used to. Like, he tells me to "watch out", and I'm confused what he is warning me about... I appreciate that he is willing to help out. Though, I am pretty keen on logic and logical fallacies, so I will point them out when I see them.
My style comes from other languages that I speak, and the English from Google Translator...
As you suggested @joycometh, it's already too late for me to learn to write properly in English now.

"Watch out" in post #484 refers to your non-logical and repeated allegations about repainting for indicators. The equal status with the ongoing redrawing on the current bar is misleading for some readers.
  • #515
  • Mar 16, 2022 5:32am Mar 16, 2022 5:32am
Quoting SwingMan
{quote} My style comes from other languages that I speak, and the English from Google Translator... As you suggested @joycometh, it's already too late for me to learn to write properly in English now. "Watch out" in post #484 refers to your non-logical and repeated allegations about repainting for indicators. The equal status with the ongoing redrawing on the current bar is misleading for some readers.
I am not even talking about the current bar. For me the current bar does not exist. I understand that some people talk about "the market trading long or short" on the current bar, but that never worked for me. If I pay attention to the current bar, sooner or later I get punished severely by the market. The current bar has not been formed, thus it says nothing. More often it will fool us.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #516
  • Mar 16, 2022 5:45am Mar 16, 2022 5:45am
Quoting ohitsyou
{quote} As a heads-up -- I may get myself suspended for ruffling some feathers. So, if you don't hear from me for awhile it's not because I've lost interest. Please carry on as you see fit. This thread is yours as much as it is mine.
Remember the universal rule:
1. The moderator is always right!
2. If you think he is wrong, goto 1.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #517
  • Mar 16, 2022 6:03am Mar 16, 2022 6:03am
Quoting BestTraderEv
{quote} I am not even talking about the current bar. For me the current bar does not exist. I understand that some poeple talk about "the market trading long or short" on the current bar, but that never worked for me. If I pay attention to the current bar, sooner or later I get punished severely by the market. The current bar has not been formed, thus it says nothing. More often it will fool us.
Correct about the current bar -- i.e. Bar[0]. But we can / may make a distinction between the bar and the indicator's drawing. If the algorithm uses PRICE_OPEN then the drawing may be stable on Bar[0]. The Bar[0] itself will continue to fluctuate and recalculate since MT4 is responsible for drawing candles / bars. But since the indicator's drawings are under the control of our code then using PRICE_OPEN may be used to fix the indicator's drawing. Not always, but sometimes. As an aside, I'm sure you are aware that something like > 90% of indicators use PRICE_CLOSE.

And just as in real-life there is always a trade-off. As examples:

Benefits of using PRICE_OPEN:
1. The indicator drawing on Bar[0] doesn't fluctuate (even though Bar[0] fluctuates).
2. You can use Strategy Tester's Model "Open Prices" when testing EAs. Well -- let me rephrase that -- Strategy Tester is hopelessly unreliable for predicting a strategy's trading performance. It is less hopelessly unreliable when PRICE_OPEN is used.

Downside of using PRICE_OPEN:
1. Since EAs typically rely on a Bar[1] signal then when Bar[0] completes and becomes Bar[1] a signal that used PRICE_OPEN will be one interval older than if PRICE_CLOSE had been used. As a result a trade might be Entered one bar later than if PRICE_CLOSE had been used.
  • #518
  • Mar 16, 2022 6:06am Mar 16, 2022 6:06am
Quoting BestTraderEv
{quote} Remember the universal rule: 1. The moderator is always right! 2. If you think he is wrong, goto 1.
It's the TMS thread -- there is no OP. @BigE passed away 10 years ago. There are a couple of misfits who have posted 1000's of negative comments for the purpose of harassing @emmanuel7788 and in the hope of destroying the thread.
  • #519
  • Mar 16, 2022 6:31am Mar 16, 2022 6:31am
Quoting ohitsyou
{quote} It's the TMS thread -- there is no OP. @BigE passed away 10 years ago. There are a couple of misfits who have posted 1000's of negative comments for the purpose of harassing @emmanuel7788 and in the hope of destroying the thread.
Ok, yet there are FF mods, and we can report by hitting [Cleanup] in the top right corner of a post.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #520
  • Mar 16, 2022 6:31am Mar 16, 2022 6:31am
Quoting ohitsyou
...Correct about the current bar -- i.e. Bar[0]. But we can / may make a distinction between the bar and the indicator's drawing.
Now that you both drank the beers, I also ordered a bottle to cool off.

Unfortunately, after the 5-6 beers, @BestTraderEv doesn't know what it's about anymore. Of course he is right and successful if he ignores Bar[0] in his decisions, because what happened before is decisive.
But now equating repainting with redrawing, chatting about non-existent trends is too personal an interpretation, and I recommend you stop drinking beer.

Switch to wine: "In vino veritas" says the Latin.
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