Just for any intereasted, the nonglagdot alert indi can send notifications to MT4 app if you are soemone who is not able to be at the PC all day.
- #65
- Edited 8:31pm Nov 3, 2016 7:17pm | Edited 8:31pm
- | Joined Mar 2015 | Status: On Probation | 886 Posts
I will try to catch and watch out for repainting so as to try and exactly identify why and what is happening. For myself when i have seen it i see it as a deeper pullback but i will watch to see exactly. I also do not ever see it repaint past an opposing signal. ie. If you have a bearish pullback in a bullish trend and a signal is given, then a bullish candle and then a bearish candle, i cannot say myself i have seen it repaint in this situation. As to say i have never seen it repaint if an opposing candle has appeared after the first signal. Might be possible, ive just never seen it.
Also, if you have noticed the alert tells you if it is a fresh signal or a repaint. So if you do not wish to take the repainted signals and only the fresh ones then you are welcome to do so. When you see the alarm window pop up it will say something like "XXXX Signal has moved".
As i said im not a programmer but i understand the basic MQL code and looking at it, it seems that the repaint happens if the candle criteria matches the entry criteria and also the new candles high is lower/higher then the first signal candles high. So it is looking at deeper pullbacks according to what i understand of the code, but its looking to see that the Hi/Low of the new candle is lower/higher then the original signaling candle or not. So in the example above, you can see although the pull back was not deeper when looking at the low, it was when looking at the high of the candle, and the code is looking at the new candles high.
Below you can see the code and criteria for repaint.
Without testing i cant say, but you could change the code to say the repaint only happens if the new candles low/high is greater then the first candles low/high. So opposite to now. That would show a deeper pullback dependent on the new candles Low/High. So a new candle in a bullish trend would need to have a lower low then the first candle and vice versa.
PS. Mistake in my image. The first bubble should say "Must be a bearish candle".
Also, if you have noticed the alert tells you if it is a fresh signal or a repaint. So if you do not wish to take the repainted signals and only the fresh ones then you are welcome to do so. When you see the alarm window pop up it will say something like "XXXX Signal has moved".
As i said im not a programmer but i understand the basic MQL code and looking at it, it seems that the repaint happens if the candle criteria matches the entry criteria and also the new candles high is lower/higher then the first signal candles high. So it is looking at deeper pullbacks according to what i understand of the code, but its looking to see that the Hi/Low of the new candle is lower/higher then the original signaling candle or not. So in the example above, you can see although the pull back was not deeper when looking at the low, it was when looking at the high of the candle, and the code is looking at the new candles high.
Below you can see the code and criteria for repaint.
Without testing i cant say, but you could change the code to say the repaint only happens if the new candles low/high is greater then the first candles low/high. So opposite to now. That would show a deeper pullback dependent on the new candles Low/High. So a new candle in a bullish trend would need to have a lower low then the first candle and vice versa.
PS. Mistake in my image. The first bubble should say "Must be a bearish candle".
I thought this may be of interest. I took mrhigurashi's trading plan as an opportunity to test configuring my custom EA (before release). I used the original rules as much as possible but had to introduce some differences (see below). Then I backtested EURUSD on a $10,000 demo account from Jan to Oct this year. ÂÂ Essentially, the trading plan was profitable even though variations can change results quite dramatically. I've attached a screenshot of the MT4 report as well as an text export (automatically created by my EA) that you can examine in...
Yes I agree. It does look good. In my EA system your strategy is configured as two (relatively simple) rules similar to the attachment. The ABOVESMA qualifier, for example, is configured with value&periods&shift. However these two rules don't truly represent the thought and effort you've put into the plan​ Alex
​ Alex
Yes I agree. It does look good. In my EA system your strategy is configured as two (relatively simple) rules similar to the attachment. The ABOVESMA qualifier, for example, is configured with value&periods&shift. However these two rules don't truly represent the thought and effort you've put into the plan
I like to think that I was "inspired" by your ideas​. Actually I like your plan for its simplicity, namely using SMA20 with good trade management. It's all too easy to heap one indicator on top of another with little understanding of what's being said. However I configured a number of successful plans in my testing using just one indicator (like RSI, CCI, Stoch, or Bollingers) to predict price reversals. But choosing the right settings (the hard bit) combined with tight risk management and thorough testing you can avoid losing a bundle of money.
​. Actually I like your plan for its simplicity, namely using SMA20 with good trade management. It's all too easy to heap one indicator on top of another with little understanding of what's being said. However I configured a number of successful plans in my testing using just one indicator (like RSI, CCI, Stoch, or Bollingers) to predict price reversals. But choosing the right settings (the hard bit) combined with tight risk management and thorough testing you can avoid losing a bundle of money.
I like to think that I was "inspired" by your ideas
By the way, are you developing EAs for yourself or for sale?
- #77
- Edited 3:29am Nov 4, 2016 3:14am | Edited 3:29am
- | Joined Mar 2015 | Status: On Probation | 886 Posts
{quote} Hello MrHigurashi, I followed for some time the original thread and have just found yours. I don't have many time to spend at the pc so I usually trade higher TF using PA. But when I have time I like to test systems on lower tf. About the repainting issue, actually in this case it's useful. According to the rules (not only the original ones but yours too) you set a pending order at the break of the signal candle high/low, but if the price doesn't break that level and keeps on retracing (and the dots don't change color) the arrow moves to...
Thanks for your work on the indi, had a look and i like it. Excellent work there
{quote} Yes, im not a big fan of indicators and over thinking in trading. By the way, are you developing EAs for yourself or for sale?
For sale with 2 weeks or so (called fxRulesEngine with a very predictable website name
​). I'm a professional software developer helping business clients over many years, and I wanted to do something to help retail traders (esp. part-timers) become more systematic and professional in their approaches. So this fxRulesEngine (unlike most other EAs) doesn't make the trading decisions. It provides a simple way of configuring your trading plans as rules and instructions with support for many popular indicators as well with risk management. There will be comprehensive documentation. Trading plans can then be backtested or run automatically on demo or live accounts.Â
One thing I was keen is to release a free version that would forward test on any demo account with no limitations. Backtesting and live accounts will require licensing. Traders can try before buying. Too many products are bought in the Forex market on blind faith, which ultimately disappoint.
Â
That's my sales pitch
​. Thanks for asking. Alex
{quote} Â For sale with 2 weeks or so (called fxRulesEngine with a very predictable website name