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PlanetX Indicator - can this indi be used for trading?

  • #521
  • Mar 16, 2022 6:38am Mar 16, 2022 6:38am
Here is an example where oscillators break down and only our knowledge of the habits of our pray can save our asses. The oscillators presented an ideal setup for a potential swing, for a short trade. The market refused to obey the indicators.
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.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #522
  • Mar 16, 2022 6:42am Mar 16, 2022 6:42am
Quoting SwingMan
{quote} 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.
Actually, I don't drink alcohols, or very, very rarely. Sure, I'll have a glass of beer if an opportunity comes by. I'll have a glass of wine on the rare occasion. I won't take vodka, or any other strong alcohol.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #523
  • Mar 16, 2022 6:50am Mar 16, 2022 6:50am
Quoting BestTraderEv
{quote} Ok, yet there are FF mods, and we can report by hitting [Cleanup] in the top right corner of a post.
That has been done. And they've been suspended in the past. But they keep returning and are careful to walk a fine line. Just as it's their mission to disrupt the thread, I've made it mine to distract them and give @emmanuel7788 a break. They are low hanging fruit and the evil side of me derives some pleasure pulling their chains.

@BestTraderEv -- kind of related -- would you have any interest in taking over this thread? Actually, it would be a new thread -- a continuation -- with you as the OP. This thread would remain but I would point it at the new thread and restrict posting on this thread to red badges only (which would effectively discourage new posts) . I would also share my sources with you, though you may already understand how my portion of the indi works.

This thread is only a couple of weeks old but is off to a great start. It consistently ranks as the "hottest" thread at FF. Thanks to everyone for their interest and contributions...

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  • #524
  • Mar 16, 2022 6:50am Mar 16, 2022 6:50am
Quoting BestTraderEv
Here is an example where oscillators break down and only our knowledge of the habits of our pray can save our asses. The oscillators presented an ideal setup for a potential swing, for a short trade. The market refused to obey the indicators. {image}
So, this is what always happens, I strip my charts from all the unnecessary lightbulbs which actually only make trading harder.
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.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #525
  • Mar 16, 2022 6:58am Mar 16, 2022 6:58am
Quoting BestTraderEv
Here is an example where oscillators break down and only our knowledge of the habits of our pray can save our asses. The oscillators presented an ideal setup for a potential swing, for a short trade. The market refused to obey the indicators. {image}
My broker doesn't support DAX40 so I can't reproduce your results. The next time you notice this situation on one of the 28 forex pairs I'd like to see if there is something in my arsenal that could be used as a companion filter.
  • #526
  • Mar 16, 2022 6:59am Mar 16, 2022 6:59am
Quoting ohitsyou
{quote}@BestTraderEv -- kind of related -- would you have any interest in taking over this thread? Actually, it would be a new thread -- a continuation -- with you as the OP. This thread would remain but I would point it at the new thread and restrict posting on this thread to red badges only (which would effectively discourage new posts) . I would also share my sources with you, though you may already understand how my portion of the indi works. This thread is only a couple of weeks old but is off to a great start. It consistently ranks as the...
Well, that's why I decided to join your thread, because it was new and there weren't 200+ pages to read, and I saw my kind of peoples, here, and I saw that I could bring in something interesting.
I am not sure if starting another thread and redirecting people there is a good idea? It may ruin the temperature of the thread!

As for your sources, well I would be flattered if you would share them, because I want to put the ideas together into one source.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #527
  • Mar 16, 2022 7:01am Mar 16, 2022 7:01am
Quoting ohitsyou
{quote} My broker doesn't support DAX40 so I can't reproduce your results. The next time you notice this situation on one of the 28 forex pairs I'd like to see if there is something in my arsenal that could be used as a companion filter.
If not DAX40, maybe you have GER40, or DE40?
Or even the previous DAX30/GER30/DE30?
Some brokers didn't change the symbol when DAX30 was expanded to DAX40.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #528
  • Mar 16, 2022 7:02am Mar 16, 2022 7:02am
Quoting BestTraderEv
{quote} So, this is what always happens, I strip my charts from all the unnecessary lightbulbs which actually only make trading harder. {image}
Another thing to consider -- try a higher time frame, like H1. The lower time frame bars are less accurate because fewer ticks go into each bar -- hence, there is a greater tendency for false positives. The fewer the ticks means that a single anomalous tick could skew the bar.
  • #529
  • Mar 16, 2022 7:04am Mar 16, 2022 7:04am
Quoting BestTraderEv
{quote} If not DAX40, maybe you have GER40, or DE40? Or even the previous DAX30/GER30/DE30? Some brokers didn't change the symbol when DAX30 was expanded to DAX40.
I do have DE30. Does that work for you?
  • #530
  • Mar 16, 2022 7:11am Mar 16, 2022 7:11am
Quoting BestTraderEv
{quote} Well, that's why I decided to join your thread, because it was new and there weren't 200+ pages to read, and I saw my kind of peoples, here, and I saw that I could bring in something interesting. I am not sure if starting another thread and redirecting people there is a good idea? It may ruin the temperature of the thread! As for your sources, well I would be flattered if you would share them, because I want to put the ideas together into one source.
As long as we keep everything transparent then I think we could do it in a way to maintain the "temperature". Your additions have already improved the indicator and your trading charts and explanations are the magic sauce that help make it special. The name of the thread could be something like: "PlanetX Indicator -- To Infinity And Beyond". Kind of catchy, I think...

I will package the sources for you -- later today. There will be a *.mq4 file and a few *.mqh files. I'll PM you when they are ready to be downloaded.
  • #531
  • Mar 16, 2022 7:11am Mar 16, 2022 7:11am
Quoting BestTraderEv
Here is an example where oscillators break down and only our knowledge of the habits of our pray can save our asses. The oscillators presented an ideal setup for a potential swing, for a short trade. The market refused to obey the indicators.
That would be a limited evaluation.
Do you know the saying: "Thou shalt not p**s against the wind".

Balance Line=long, AO=long, AC=long.
Local short signals should be ignored by default, there is no need to praise the trader's intellectual abilities and experience.
Of course one needs them in other cases.
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  • #532
  • Mar 16, 2022 7:13am Mar 16, 2022 7:13am
Quoting ohitsyou
{quote} Another thing to consider -- try a higher time frame, like H1. The lower time frame bars are less accurate because fewer ticks go into each bar -- hence, there is a greater tendency for false positives. The fewer the ticks means that a single anomalous tick could skew the bar.
Well, trading indices can be a bit different than trading currencies. DAX40 has this tendency to trend, sometimes. When it jumps on a direction, it just won't stop, especially when Asia makes a strong Support, or Resistance. Then we get one of those one-direction-days.

On currencies, I remember some years ago, I did see lots of simillar situations, where oscillators were pointing to overbought, for example, yet the price would not stop going up.

Quoting ohitsyou
{quote} I do have DE30. Does that work for you?
If it's quoting live, then yes.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #533
  • Mar 16, 2022 7:18am Mar 16, 2022 7:18am
Quoting SwingMan
{quote} That would be a limited evaluation. Do you know the saying: "Thou shalt not p**s against the wind".


Quoting SwingMan
{quote}
Balance Line=long, AO=long, AC=long. Local short signals should be ignored by default, there is no need to praise the trader's intellectual abilities and experience. Of course one needs them in other cases. {image}
Well, I know, I don't really need the lines to see the trend was strong.
That isn't the point.
The trader needs to be confident, he must trust something.
Ultimately there should not be a problem at all. We go short, we take the Stop Loss, and we analyse further if it's reasonable to continue long, or drop it and wait for a better opportunity. If we are consistent in our R/R, we are ok.
And, the situation for short was a good one, because of R/R and good price.

BTW, I don't agree with your "AO=long, AC=long."
I see AO = perfect opportunity for short, AC = perfect opportunity for short.
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #534
  • Mar 16, 2022 7:29am Mar 16, 2022 7:29am
Quoting SwingMan
{quote} That would be a limited evaluation. Do you know the saying: "Thou shalt not p**s against the wind". Balance Line=long, AO=long, AC=long. Local short signals should be ignored by default, there is no need to praise the trader's intellectual abilities and experience. Of course one needs them in other cases. {image}
Even though the short trade would have been a loser, it wouldn't have been that bad. At the next BUY signal it would have closed for a small loss and the subsequent long trade would bring home the bacon. The net result is we'd be way ahead. Small losses that are quickly corrected are not worth worrying about -- or worrying a lot about. I try to think of them as "the cost of doing business". As long as the strategy is quick to correct a head-fake then we'll be fine. On the other hand, if the strategy was slow in correcting then that would be a problem.
  • #535
  • Mar 16, 2022 7:49am Mar 16, 2022 7:49am
And, I forgot to do this. I should check the PA in the context of the line chart, ie. the close-close chart. It provides very important trending info. I sometimes just forget to click the button...
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.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #536
  • Mar 16, 2022 8:23am Mar 16, 2022 8:23am
Quoting SwingMan
{quote} That would be a limited evaluation. Do you know the saying: "Thou shalt not p**s against the wind". Balance Line=long, AO=long, AC=long. Local short signals should be ignored by default, there is no need to praise the trader's intellectual abilities and experience. Of course one needs them in other cases. {image}
English version below

Hallo Swingman,
„BestTraderEv“ bedeutet wahrscheinlich „Bester Trader aller Zeiten“. Daher hat es keinen Sinn, mit ihm zu streiten. Er weiß sowieso alles besser.
An dieser Stelle danke für deine Beiträge.
Peter
PS "BestTraderEv" ist hier ein neues Mitglied. Vielleicht muss er noch lernen, wie man sich in einem Forum verhält.


English version:
Hello Swingman,
"BestTraderEv" probably means "Best Trader Ever". Therefore, there is no point in arguing with him. He knows better anyway.
At this point, thank you for your posts.
Peter
PS "BestTraderEv" is a new member here. Maybe he still needs to learn how to behave on a forum.
  • #537
  • Edited 11:38am Mar 16, 2022 8:51am | Edited 11:38am
Quoting IAmRetep
{quote} English version below Hallo Swingman, „BestTraderEv“ bedeutet wahrscheinlich „Bester Trader aller Zeiten“. Daher hat es keinen Sinn, mit ihm zu streiten. Er weiß sowieso alles besser. An dieser Stelle danke für deine Beiträge. Peter PS "BestTraderEv" ist hier ein neues Mitglied. Vielleicht muss er noch lernen, wie man sich in einem Forum verhält. English version: Hello Swingman, "BestTraderEv" probably means "Best Trader Ever". Therefore, there is no point in arguing with him. He knows better anyway. At this point, thank you for your posts....
WTF is this about?
Maybe you should learn how to behave on a forum, dude?
And stop littering the forum with useless and pointless posts?

German version by Google translate:
Um WTF geht es hier?
Vielleicht solltest du lernen, wie man sich in einem Forum verhält, Alter?
Und aufhören, das Forum mit nutzlosen und sinnlosen Beiträgen zu verschmutzen?

PS. I just looove people, who want to teach others, and do exactly the same thing they are going against!!!
And, I bet, they haven't read the whole thread, either!
.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #538
  • Mar 16, 2022 9:09am Mar 16, 2022 9:09am
Looks like the oscillators weren't all that wrong! There was a pullback after all. Only, it was one of those cases when the market made a new extremum. Divergence.
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.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #539
  • Mar 16, 2022 9:19am Mar 16, 2022 9:19am
But, then, again, the oscillators were too slow and didn't show any long signals.
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.ex4/.ex5 files can't be fixed or modified / I'm not a coder!
  • #540
  • Mar 16, 2022 10:15am Mar 16, 2022 10:15am
Quoting BestTraderEv
...BTW, I don't agree with your "AO=long, AC=long." I see AO = perfect opportunity for short, AC = perfect opportunity for short.
Thanks for the contribution!

This is the perfect example of how a young, dynamic trader thinks. He has the energy to formulate his decision in four words or four seconds.
A senior and lazy trader can do the same thing in a word or a second!

(Spaß soll man haben...)
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