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Traffic Light System

  • #301
  • Feb 3, 2009 8:54am Feb 3, 2009 8:54am
Quoting globalinvest
After forward testing the goldminer indicator - I came to the conclusion that it is completely useless on lower timeframes.
See attached screenshot.
Where the red arrow is - this is where the first blue bar on goldminer appeared. On the next bar opening - the area I marked with vertical lines(6bars) - all the 6 red bars changed to blue.

So this indi can not be used when backtesting at all and does not perform well when forward testing. Giving late entries.

I will forward test HMA together with the RSI indicator. If both agree - I will enter a...
this is not designed to be traded in lower time frames.
  • #302
  • Feb 3, 2009 10:48pm Feb 3, 2009 10:48pm
so what's the final word on goldminer? After the day has closed, will it repaint? Is that even a bad thing in peoples experience?

I've looked at it a bit. I'm thinking I'll do 80% of previous days 14atr as an initial stop, and perhaps a cross of a CCI and an MA of that CCI or perhaps some sort of trailing stop...

Looking forward to testing this out.

Peace
Stuart
  • #303
  • Feb 4, 2009 6:08am Feb 4, 2009 6:08am
Mitchp,
Thanks for sharing this wonderful system, i have been watching it work on live data and it works. Ofcourse there is some more things that can be done to improve this system.

We could add Bill Williams Fractals to the system which can be used as a stoploss in any time frame. Also there could be a good stoploss indicator added to this system.

Lets go on make it work better
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 35 KB
Nobody ever went broke taking profits.
  • #304
  • Feb 4, 2009 7:05am Feb 4, 2009 7:05am
I've been demo'ing this system on the 5M timeframe with some re-painting but it hasn't affected profitability. I only trade during recommended hours and on GBD/USD and EUR/USD.

I always use a stop loss which washes me out of a few trades but being profitable in the long run is what matters.

I do not enter signals that are generated by single bar large move.
  • #305
  • Feb 4, 2009 11:08am Feb 4, 2009 11:08am
The HMA modified just repaited on me. Yesterday at candle close on daily chart It was GREEN EURO/jpy. Today , its red.

If these things repaint, how can we trust them? I thought goldminer was the only one that repaints.
  • #306
  • Feb 4, 2009 1:13pm Feb 4, 2009 1:13pm
Quoting rocka21
The HMA modified just repaited on me. Yesterday at candle close on daily chart It was GREEN EURO/jpy. Today , its red.

If these things repaint, how can we trust them? I thought goldminer was the only one that repaints.
I'm having all kinds of issue with things this week. I'm at the point where I'm re-evaluating all the indicators and how they work with each others. I know we're on what can be a wicked trading week, but the system has failed me now for over 10 trading days. As soon as I can figure this out I will be back with my findings and any revised trading method. In the meantime, please, everyone keep posting your comments, win's, loses, etc, so we can all learn.

Thanks
Mitch
  • #307
  • Feb 4, 2009 3:24pm Feb 4, 2009 3:24pm
Quoting mitchp
I'm having all kinds of issue with things this week. I'm at the point where I'm re-evaluating all the indicators and how they work with each others. I know we're on what can be a wicked trading week, but the system has failed me now for over 10 trading days. As soon as I can figure this out I will be back with my findings and any revised trading method. In the meantime, please, everyone keep posting your comments, win's, loses, etc, so we can all learn.

Thanks
Mitch

So far I have found the only reliable pair for this system is Eur - USD. That one has made a good deal of progress.
  • #308
  • Feb 5, 2009 4:10am Feb 5, 2009 4:10am
Hello here

I have a question about goldminer2 indicator. Does anybody have an idea how it actually works? What does it show or what does it count?
Thanks in advance

Cheers
  • #309
  • Feb 5, 2009 5:41am Feb 5, 2009 5:41am
some programmer in here should take these indicators and make them to where: once the candle has closed it can't repaint. then you can get an idea of how well the system will really work. im looking at 5 min chart just to see how bad the repaint issue is. - it repaints constantly
  • #310
  • Feb 5, 2009 6:58am Feb 5, 2009 6:58am
Hello members
I'm new in this forum, and i'm very interested in this system, but i'm not MT4 user, so can someone write the formula or the logic (when its supossed be the red, green or yellow bar)of the "goldminer" in order to recreate it in my TP.
Thank you
  • #311
  • Feb 5, 2009 9:35am Feb 5, 2009 9:35am
FxCba,

The goldminer indicators are part of a system that is being sold elsewhere. I've been looking for the mq4 code as well and finally found the origination of the compiled code.
  • #312
  • Feb 5, 2009 1:34pm Feb 5, 2009 1:34pm
This Indi will show the divergence on the CCI.
You can overlay the CCI on if you like to
Attached Image (click to enlarge)
Click to Enlarge Name: CCIDiv.jpg Size: 95 KB
Attached File(s)
File Type: ex4 GH_CCI_Divergence_V1.1.ex4   15 KB | 423 downloads
I trade what I see on my charts. Do Not listen to the Muppets.
  • #313
  • Feb 5, 2009 2:24pm Feb 5, 2009 2:24pm
Quoting rocka21
The HMA modified just repaited on me. Yesterday at candle close on daily chart It was GREEN EURO/jpy. Today , its red.

If these things repaint, how can we trust them? I thought goldminer was the only one that repaints.
There are similar systems recommending to wait for 2-3 bars so the color is settled and the trend confirmed.

Rolf
  • #314
  • Feb 5, 2009 5:46pm Feb 5, 2009 5:46pm
Quoting rolfw
There are similar systems recommending to wait for 2-3 bars so the color is settled and the trend confirmed.

Rolf

This is what I notice as well. I wait 2 close candles before making a move
  • #315
  • Feb 6, 2009 2:03am Feb 6, 2009 2:03am
Hello people

Well, I made it!!!
I built my own custom "Goldminer" for my Trad Platform
Now, if someone is so kind, please attach one actual goldminer screenshot on 1 hour chart EUR/USD to compare it with mine's
Thank you
  • #316
  • Feb 6, 2009 2:10am Feb 6, 2009 2:10am
here you go
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 1h.gif Size: 24 KB
  • #317
  • Feb 6, 2009 2:40am Feb 6, 2009 2:40am
Thank you Jnita

I'm very very close
may be i need some adjustementes on indicator's periods or smootheners
but i'm on the way. I'll keep working on it
Regards
  • #318
  • Feb 6, 2009 3:03am Feb 6, 2009 3:03am
Two screenshots attached of eu/usd 1 hour chart. Setting at 7.
  • #319
  • Feb 6, 2009 3:04am Feb 6, 2009 3:04am
There
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euusd1.jpg Size: 297 KB
Click to Enlarge Name: euusd2.jpg Size: 312 KB
  • #320
  • Feb 6, 2009 8:49am Feb 6, 2009 8:49am
System says "BUY", Am I right??
Attached Image
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