Very Simple Silvertrend Method

edit : it seems the silvertrend is repainting as well... rha i need to find something else ^^

During my journey to the non existing holy grail, i made a lot of test (forward, backward )

I found a know indicator which is Silvertrend to be very intersting but it need a small additional filtering i have tried to pogram in it but failed to do so (yet it is very simple i think)

For this strategy, you need only ONE indicator (attached - a bit modified with the filter option which is not working atm - i has an alert function)

This strategy works fine on 15 min and higher.

Apply the indicator to you favourite pair (trendy pair is better) with the default settings (you can change the width of the line for better viewing - and i modified the indicator so it have good settings)

Your chart should look like the attached zipped chart (entry and exit occurs at the open on the next candle after the arrow)

Now what your are looking for buy (reverse for sell of course) is a bull candle closing inside the silvertrend channel and with the blue line flat or upward (not downward )

Exit strategy is also simple.

Exit when a bear candle close outside the channel or when you have a bear candle with an open outside the channel and a close inside the channel.

Exit as well when the blue and red line crosses.

Look the zip file attached to get the idea.

IMPORTANT : Do not open trade when the blue line and red line are not far appart (distance depends on the TF of course i have yet to find the right distance for each pair / TF )

Reentry rules are the same as entry rule

Tell me what yout think about it.

Here is today signals for EURYEN

Arrow following the entry is the exit

And EURUSD

Arrow following the entry is the exit

And here is USDCAD

NZDUSD this time

This indicator repaints bigtime

proof:

thanks for the input, i'll have a look one more time... Weird it did not seems to repaint and i looked for one hour :-/

edit : yep it definitely repaint so sad i am... and i supposes that if this indicator exists in no repaint mode then it become useless

Nice looking indicator, looks good on my 4 hour charts.

Did you draw in the arrows or is it part of the indicator ? I only get the red/blue channels. I think I know the answer I just want to be sure. Its probably no but would be a nice feature to add.

The "arrow" shows the next candle is the entry, it does not include with the indicator. It doesn't matter to have the arrow there because the "arrow" is for you to get ready to enter if the next closed candle is within the silvertrend.

This indicator helps me to reap 40+ pips with GBP/USD and USD/JPY pairs, but the indicator keeps on giving me alert for signal buy or sell whenever the lines cross. I would say this signal is insignificant because it can't tells which way the trend is heading. The best way is follow Silvertrend rules for opening new position, don't follow the alert signal.

melpheos, is it possible to calculate the opening angle between the two lines for a proper entry signal?

I could be wrong but this looks really promising. What about also buying/selling when the entire candle is above (sell) the blue line or buying when the entire candle is below the red line ? This seems to be an early warning of direction change or does the repaint totally screw this up in real-time. Also, how many periods backwards does the repaint effect if anyone knows ?

jhathawa,
for buying, if the closed bull candle is above the blue line or if selling, the closed bear candle is below blue line, you better stay away from opening position because it might be too late to do so, as you said, could be an early warning of direction change.

I'm can't get what you mean by "repaint"? do you have example screenshot?

Actually I think this indicator is almost useless. After careful examination the lines are the exact same line with a shift added to delay the second one. It looks great, but in real time its very inaccurate. The blue line is flat for the last 5 bars, it just defaults there untill the first line creates the pattern.

Yes that is the point raised by somone else here, unfortunately, this indicator repaint so on backtest it is absolutely wonderfull but in forward test you miss allmost all the signals.

A sample screenshot has been posted by climax above (post #6 )

I have also seen this problem as well taking screenshot every 15 minutes and pasting them next to each other on Paint and it definitely repaint. A signal that was not there 1 hour ago, appeared magicaly in the past...

this indicator is useless, sighhh . Any updated version to fix this repaint problem?

altho it repaints, it may be good for helping to confirm trend reversals.

i am using it w/pivots and MACD to help reveal extreme levels.
look for MACD patterns and markings that coincide with bars CLOSES OUTSIDE/ENITRE BARS OUTSIDE of the trend channel.

oh yes! plz send a cheque of 30,000 usd per month and its yours! It is being used all the major hedge funds in the world, and this is your last chance to get a hold of teh holy grail!

also i will require 30% of all profit you make with this 100% accurate indicator. IMHO, it wil pay off in long run. please PM me now!

at some time ago, there's tlatomi method in this forum.
Originally, tlatomi uses shi silvertrend indicator. (I don't know exactly if it's similar to silvertrend). but this indicator is repainting itself too.

shi silvertrend indicator is lagging indicator. it catch previous high and low. so, by backtesting it, it produces magnificent result. but by forward testing, this indicator confusing.

maybe you can take a look at tlatomi's thread. there's also shi silvertrend which is "non repainting" version. But it's performance is less than the "repainting" one.

cheeers.

hello pls can you pls attach the silvertrend ea again as the one on ff is not opening. thanks