Laguerre Imran Setup Profit Alert (LISPA) Indicator

Hello Imran Setup Users and New Arrivals,

NEW: LISPA1MTF was added (20-Apr-08). ***
See the settings details at:
http://www.forexfactory.com/showpost...1&postcount=23

LISPA1A-new was added (26-Jan-08).
Updated LISPA1a with the latest Imran Settings (needs Laguerre-ACS1 indicator; check the link below). (29-Nov-07).

Please check out my new thread for new Laguerre Indicator with MA (25-Oct-07).
http://www.forexfactory.com/showthread.php?t=53189

This Thread is CLOSED. Please use my new thread (above link) or Imran's Thread (below link). 24-NOV-07.

Simple Method of Scalping GBP/Jpy on 5 min chart-by Imran Sait
http://www.forexfactory.com/showthread.php?t=48926

Here is the Indicator version-1 to generate several ways of Alerts for Buy/Sell signals. This Indicator is only to simplify the work, not to eliminate the work! This Indicator needs Laguerre.ex4 to be present in the Indicators folder (no need to attach it, but if you have attached to a chart that is not a problem). If you do not have the Laguerre.ex4, I am attaching a version here.

My ADDITION: One thing I have found is that, it is better to wait for the signal bar (the bar before the arrow) range to be broken by a couple of pips in our direction. This I consider as additional confirmation (in addition to others pointed out in Main thread). Also, I use it as a time to start analysis, not as a time to enter immediately. When the sound/alert comes, I analyze the chart and until then I don't even look.

Please leave your questions, suggestions and feedback about the program here. The method related questions will be answered better in the Main thread (the link shown below).

This Indicator uses a slightly different settings that has been optimized by Imran specifically for this Alert system. Even though the signals are slightly delayed, it removes many false signals.

The details of the method and further ways of improvements/filtering can be seen in the following thread and the link below. PLEASE read the first post there carefully and practice/demo trade first until you get the feel for the system before entering real trades.

Simple Method of Scalping GBP/Jpy on 5 min chart-by Imran Sait
http://www.forexfactory.com/showthread.php?t=48926

Best of Pips,
chandra
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Chandra-Signal-Alert-System:
NEW: Please visit my new thread for updated version of this: (Chandra-SAS5: 02-Feb-08)
http://www.forexfactory.com/showthread.php?t=53189

This new alert program has been added on 22-Oct-07.
It is made from LISPA and at present set to use ASCTrend1sig-imran.ex4 signals as default.
It is not necessary to attach the ASC indicator to the chart, but the file should be present (get it from http://www.forexfactory.com/showpost...postcount=2341 ).
This alert system will use the ASC indi and create alerts/messages identical to LISPA.
The signal has been made to come only after the bar closes and will appear on the new bar.
Please report any problems about this program here.

It is designed to be used with any signal generating indicator. But does not work with MT4-LevelStop-Reverse indicator (its signals are not normal indicator type, instead they are individual pictures). A different alert for this has been posted by HerbertH at http://www.forexfactory.com/showpost...postcount=2451

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The LISPA1 Indicator Settings (LISPA1a also):
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NEW: Use the LISPA1MTF for better options.
The extra setting details can be found at:
http://www.forexfactory.com/showthre...11#post1960711

Default settings are fine and actually no change is needed. However,

gamma1, gamma2 are for two Lags. MA2 is Moving Average for both Lags. (LISPA1A-new only).

UpperLevel = 0.85; (LISPA1A-new only; LowerLevel is calculated as 1.00 - UpperLevel).

MaximumBars = 1000; increase it for visual backtesting (do not reduce below 200).

ArrowDistance = 10; 10-pips from prior bar range; increase it if too much overlap is seen or decrease it if the arrow signals are too far. If too far, the signals will go out of screen also.

VLineWidth = 1; Vertical line width. To remove it, give anything less than 1. (LISPA1A-new only)

UseLaguerre2Filter = false; it is very basic filter and not as good as humans. So, currently not recommended (but you can test and if you like, use it; seems to be good in 1-min chart).

SendEmail = false; When a signal arrow comes in the chart, an email will be sent (see the details below about how to setup Email sending). Very useful for longer timeframe users (even 15M or above 60M, though generally we use 1M or 5M charts). The Email alert will not work on 1M charts.

PopUpAlert = false; it will bring a popup-alert window when a new signal comes.

TextSignal = true; This will show last signal direction as text, with new bar start time.

TextPosition = 700; in pixels, you can move the text horizontally to a clear area, if needed.

SoundAlert = true; The selected sound file will be played when a new signal comes. This way we can know there is a signal in one of the charts and no need to stare the charts all the time and do something else while waiting. Great for monitoring multiple charts without tiring the eyes.

SoundFile = alert; By default, uses the alert.wav file placed in the MT4/sounds folder (this file comes with MT4). You can place any .wav file in this folder and change the name here and use it. Use just the first part of the name (the file extension must be .wav and is assumed to be .wav).

SoundTime1 = 800; SoundTime2 = 1600; These two are the time range when the Sound will work (we don't want to hear it while sleeping!). It is in local time, NOT broker time. If you want to keep it on all the time, please use zero and 2500.
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How to Change Indicator Settings:
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I hope you know how to change the settings. If you don't know, you can do it by two ways (for any Indicator).
1. Delete the Indicator and Attach again. While attaching, the pop-up window will allow you to change settings.
2. Right-Click on the Line or Arrow of the Indicator and you can select a 'Indicator' Properties menu. That will be the same as the one you will see while attaching the Indicator fresh (as in point 1). You can change the settings shown.

Some data need number input. Some need you to select between "true" or "false". The filter needs to be selected between true/false. If you choose "false", you have to analyze the Lag2. If you choose "true", the program will analyze Lag2, but it is not as good as what humans can do (after all still it is version 1 and programs are too strict about the rules)!
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Setting up Email:
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1. Go to Tools --> Options.
2. Select the Email Tab.
3. Click on the Enable box and fill all the information.
4. Test it and you are ready to go.
(5. Long timeframe users can even send it through email2sms services to their mobil phones, this was one of the ideas of having this option, but may not be needed for now).
You can check the following link for a Picture of settings:
http://www.forexfactory.com/showpost...16&postcount=4
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Attaching the Indicators:
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Just place the files in "MT4"\experts\indicators folder and restart MT4.
Then you can attach (Insert->Indicators->Custom) and see the arrows...
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tks for sharing your work

Why not post this on the thread.. Simple Method of Scalping GBP/Jpy on 5 min chart-by Imran Sait?

If your just showing us an indicator, consider posting in the metatrader section

You are welcome. I just wrote the program, method is based on Imran.

Hi WHTenn,

We wanted to keep the discussion about the programing part separately from the method development. Only a few people had questions and they also posted it in the main thread. Nobody had any problem or needed any modifications, it looks. The program seems to work better than expected! With about 300 views of the Indicator so far (about 100 in main thread), less than 1% questions have come.

Thanks for your comment.

chandra

Chandra,

How does this work exactly? More than half of the buy and sell signals I get from your program do not follow the lag rules of Imran's system, even when I set the lag2 filter to true.

Also, I've found that sometimes there are classic buy or sell signals for imrans system (lag 1 pointing up above 0.15, lag 2 flat on bottom) and LISPA doesn't do anything at all.

If I had a better understanding of how exactly the program works and WHY it draws the arrows when it does it would help be understand why the false signals occur.

Thanks!

Hi BFried,

Imran has slightly changed the settings after seeing the arrows and studying for a week. To make it simpler (without using red Lag) and reduce false signals, the levels are slightly changed (to 0.8/0.2). Other than that, it is same as earlier.
The filter removes the signals if the Lag2 is in the opposite half and moving against (if set to "true"). For example, if the Lag1 signal points up, but the red lag is below 0.5 and declining, this signal is removed. Sometimes, the Lag2 may move from 0.01 to 0.0 and that causes the signal to be filtered (but to our eyes it will look like the Lag2 was already at extreme). Imran chose to use no filter because he changed the settings based on his observations of non-filtered signals.

I hope this explains the difference. I think this is better than with earlier setting. You can compare them now and let us know your observation and preferences.

Regards,
chandra

So lag 1 is now 0.2 instead of 0.55 and lag 2 is now 0.8 instead of 0.85?

BFried,

NO. The gamma is same (0.55). The trigger levels are 0.2 for Long and 0.8 for Short. Sorry I did not write clearly.

chandra

OK that makes A LOT more sense lol. I was like wtf when did he change it so much?

is better use filter=true ?

regards, felipe

Hi all. I been testing this indicator that I found. It's a 123 pattern. Works pretty well with the lag indicator. Happy trading

Hi felipe,

Using filter=true will remove many false signals, but the problem is some good moves also will be missed. If you think it is difficult to filter manually, then use the filter=true. Still you will have to check Lag2 manually also, because the filter does not filter out all bad signals. But most of them are filtered and that reduces our work on analyzing poor signals unnecessarily (great while trying to monitor several charts).

chandra

hi.... I want to set LISPa too .But when I set imran sait 5 min system tpl.

signal arrows appeared maybe one hundered ..so how can I remove signal

arrows . As I set tpl I cannot see which of indicator generates this arrows.

so I need indicators seperately or a method to remove signal arrows .So I can set LISPA to get correct signals...thanks

Hi battuta,

I have not used templates much. You can go to Indicator list (right-click anywhere on the chart and select) and delete all that you don't want (or don't plan to use). If LISPA is there in the list, simply select, edit and OK. That will redraw all arrows (bad ones will be removed, if any belonged to it). If you change timeframes, it can happen. You can also right-click on the right-side of an arrow to edit Indicator Properties and click OK to force a redraw. If not, just delete it and reattach.

I hope this solves the problem.

Regards,
chandra

Hi,

It is Good to try find a way to better the trading live style.

I see LISPA show ALL the crossovers with the LAG 0.55 at 0.20 and 0.80, its correct?

But LISPA dont see the LAG 0.85 ? It ignor it?

And the filter, filter what signals?

Thank´s for help.

I will try to think some to better the signals

Hi Numeral,

You are correct about the signals using Lag-0.55 with levels 0.2/0.8.

Only the filter uses the Lag-0.85, if set to true. It does not do as good job as we can see manually. But mostly it tries to filter the signals when the Lag-0.85 is moving against the Lag-0.55. I find that mostly the filter is not needed in 15M and better to use in 5M (I have not checked other timeframes).

Hope that explains how it works.

Regards,
chandra

So what is the difference between LISPA1 and Chandra-Signal-Alert-System?

Lag 0.55 triggers alerts at 0.2/0.8 with LISPA1 but does Chandra-Signal_Alert-System trigger at original ASC levels 0.15/0.85?

Thank you.

Hi,

The LISPA1 uses the Laguerre Indicator. Yes, it uses 0.2/0.8 as triggers to calculate the signals (and if you use filter it will remove some signals by comparing with Lag-0.85; when Lag-0.85 has crossed 0.5 mark and moving against the signal, the signal will be cancelled).

But Chandra-SAS just reads the signals from ASC and plots them along with producing all other options of LISPA1. It does not generate any signal and does not do any calculation; it just makes alerts about signals generated by an Indicator it monitors. How ASC works is not known to me (I don't have code for it). I made this only to use all the alert options of LISPA1, because some people wanted. LISPA is the best alert system available so far (I have not included text->voice alert, but other than that all possibilities are there).

Chandra-SAS is meant to be used with any indicator that generates signals, not just for ASC (but for ASC, the settings are already coded). I am making Chandra-SAS2, that can be used with ASC or MT4-LevelStop-Reverse indicator (the later one generates signals in such a way that no other program can read, and so I had to modify the original code so that my alert system can read). You can check out the details in my new thread Chandra's Indicators (see the first post of this thread for the link). It should be there before this weekend is over.

Regards,
chandra

Hi Chandra,

For the lag audio and arrow signal alert, can you tell us how to manually alter the gamma value and crossover levels? For example to change the alerts from 0.15/0.85 to 0.10/0.90 or 0.20/0.80 crossover levels?

It seems like both the gamma and crossovers are always being tweaked (see example imran post below) so it would be nice if we could manually change the audio alert to reflect different gammas and crossover levels ourselves.

Thank you.




Originally Posted by imransait http://www.forexfactory.com/images/buttons/viewpost.gif
Guys, i am not able to edit post 1, so pls find the new rules for entry and exit, do let me know how it went. This filters out the noise in the 1 min entry and exits. Works good on other time frames as well.

Indicators used :
LaGuerre 1 ( for entry ) - Gamma 0.55, levels 0.10, 0.90, bars to read 9500 color green
LaGuerre 2 ( for exits ) - Gamma 0.80, levels 0.10, 0.90 bars to read 9500, color red