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New Indicator Found - Any thoughts?

  • #1
  • First Post: Mar 5, 2017 7:46am Mar 5, 2017 7:46am
Hello everybody, hope you all are having a great weekend. I had this indicator in my computers for a long time but never used it till now. It gives buy/sell signals.... what do you guys think? what do you think its based on? its in a .ex4 format cant really get in to it.

Any thoughts would be great. Try it out in demo first.
Attached Image (click to enlarge)
Click to Enlarge Name: new stuff.png Size: 54 KB
Attached File(s)
File Type: ex4 forexsignals.ex4   15 KB | 584 downloads
Drawdown is more important than Account Size !
  • #2
  • Mar 5, 2017 7:59am Mar 5, 2017 7:59am
Do a full back test first. Find 100 entry signals given by the indicator and determine the win rate, as well as the risk to reward ratio. There's no use trying to just look at it and see whether it seems profitable. If you can get a R:R higher than 1 and a win rate higher than 50%, you may have something profitable.
Better to run, than curse the road
  • #3
  • Mar 5, 2017 8:04am Mar 5, 2017 8:04am
Morning All,
Most likely the indicator is based on a moving average cross over. By the looks of it maybe more then just two are involved.
The ( x ) appears to be a stop loss projection...???
Seems like it would be more suitable for trending market.
I get exercise just pushing my luck
  • #4
  • Mar 5, 2017 8:06am Mar 5, 2017 8:06am
can some one do a back test? i really dont know how to do a back test...
Drawdown is more important than Account Size !
  • #5
  • Mar 5, 2017 8:29am Mar 5, 2017 8:29am
Quoting procrude
can some one do a back test? i really dont know how to do a back test...
Personally I cannot do backtests also but I loaded it on few chats....it looks very interesting especially on higher time frames from M30. I will run it on demo tomorrow and I will post the results if we dont have anyone to backtest by then. I also hope it doesnt REPAINT
  • #6
  • Mar 5, 2017 10:39pm Mar 5, 2017 10:39pm
ok on eurusd on 5min this indicator gave a sell signal just now and it was not a repaint...so lets see
Drawdown is more important than Account Size !
  • #7
  • Mar 6, 2017 1:31am Mar 6, 2017 1:31am
It REPAINTS...just now had a SELL signal on EURJPY on M15. Then the SELL arrow disappeared when the market turning bullish with 2 BUY candles.
  • #8
  • Mar 6, 2017 6:08pm Mar 6, 2017 6:08pm
this is A TERRIBLE indicator.... let me see how i can delete this thread. waste of time sorry guys
Drawdown is more important than Account Size !
  • #9
  • Mar 6, 2017 6:21pm Mar 6, 2017 6:21pm
I think apparently is based for long term.
  • #10
  • Last Post: Sep 22, 2018 2:19pm Sep 22, 2018 2:19pm
Quoting cce
Morning All, Most likely the indicator is based on a moving average cross over. By the looks of it maybe more then just two are involved. The ( x ) appears to be a stop loss projection...??? Seems like it would be more suitable for trending market.
You’re subscribed to a lot of trading systems but you were a big proponent of Trading Made Simple. What happened? Not profitable?
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