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(read) WHAT IS A PERFECT INDICATOR?


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  • 2 months later...

Get real

 

on my own opinion i'll say price in not an indicator, we use indicators to predict price 8-)

 

Indicators will NEVER predict price. Indicators will ALWAYS LAG price. Because indicators USE PRICE to plot on a chart. So indicators use PAST price. Think about it.

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Indicators will NEVER predict price. Indicators will ALWAYS LAG price. Because indicators USE PRICE to plot on a chart. So indicators use PAST price. Think about it.

 

By the same logic, Price is a lagging indicator. Why? Because, you never can catch the price while on the zone of now. (Well, you can sometimes by gambling). There is in that zone a price movement 15-20 pips on the broker side at entry and exit; where a lagging or leading indicator (classification which I consider a non-sense) is needed to indicate within a particular forex system where the next movement of price going to be. To be able to know if that zone has been used or exhausted.

 

Price itself isn't an indicator. It is an object which you ride with it or would leave you standing.

Edited by 4xmeter
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Price is an indicator but it repaints too much

 

hmm, I agree. So here is an indicator that goes 'nicely' with the repainting indicator price. This indicator never repaint.

 

#property copyright "SpanishOpenLine"

#property link "[email protected]"

 

#property indicator_chart_window

#property indicator_buffers 1

#property indicator_color1 Blue

 

double g_ibuf_76[];

extern int TimeZoneOfData = 0;

 

int init() {

SetIndexStyle(0, DRAW_LINE);

SetIndexBuffer(0, g_ibuf_76);

SetIndexLabel(0, "Open");

SetIndexEmptyValue(0, 0.0);

return (0);

}

 

int deinit() {

return (0);

}

 

int start() {

int li_0 = IndicatorCounted();

if (li_0 > 0) li_0--;

int li_4 = Bars - li_0;

DailyOpen(0, li_4);

return (0);

}

 

int DailyOpen(int ai_0, int ai_4) {

int li_8 = 3600 * TimeZoneOfData;

double ld_12 = 30.0 / Period();

bool li_20 = TRUE;

ai_4 = MathMin(Bars - 20.0 * ld_12 - 1.0, ai_4);

for (int li_24 = ai_4; li_24 >= ai_0; li_24--) {

g_ibuf_76[li_24] = 0;

if (li_20) {

if (TimeDay(Time[li_24] - li_8) != TimeDay(Time[li_24 + 1] - li_8)) {

g_ibuf_76[li_24] = Open[li_24];

g_ibuf_76[li_24 + 1] = 0;

} else g_ibuf_76[li_24] = g_ibuf_76[li_24 + 1];

}

}

return (0);

}

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  • 1 month later...

Technical analysis has nothing to do with prediction, the sooner a trader realizes that, the sooner he will have a chance to be profitable. You want to predict the future, study fundamental analysis and still in the end its just an odds play.

I chuckle every time someone makes predictions based on charts, "it will go to this line than bounce and go to another line lol"

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Guest fxprofits

how do i copy this code to make an indicator..would you explain.. thanks

 

hmm, I agree. So here is an indicator that goes 'nicely' with the repainting indicator price. This indicator never repaint.

 

#property copyright "SpanishOpenLine"

#property link "[email protected]"

 

#property indicator_chart_window

#property indicator_buffers 1

#property indicator_color1 Blue

 

double g_ibuf_76[];

extern int TimeZoneOfData = 0;

 

int init() {

SetIndexStyle(0, DRAW_LINE);

SetIndexBuffer(0, g_ibuf_76);

SetIndexLabel(0, "Open");

SetIndexEmptyValue(0, 0.0);

return (0);

}

 

int deinit() {

return (0);

}

 

int start() {

int li_0 = IndicatorCounted();

if (li_0 > 0) li_0--;

int li_4 = Bars - li_0;

DailyOpen(0, li_4);

return (0);

}

 

int DailyOpen(int ai_0, int ai_4) {

int li_8 = 3600 * TimeZoneOfData;

double ld_12 = 30.0 / Period();

bool li_20 = TRUE;

ai_4 = MathMin(Bars - 20.0 * ld_12 - 1.0, ai_4);

for (int li_24 = ai_4; li_24 >= ai_0; li_24--) {

g_ibuf_76[li_24] = 0;

if (li_20) {

if (TimeDay(Time[li_24] - li_8) != TimeDay(Time[li_24 + 1] - li_8)) {

g_ibuf_76[li_24] = Open[li_24];

g_ibuf_76[li_24 + 1] = 0;

} else g_ibuf_76[li_24] = g_ibuf_76[li_24 + 1];

}

}

return (0);

}

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how do i copy this code to make an indicator..would you explain.. thanks

Simple way to do this:

1. Copy and paste the text into a note-pad file or another editor-file or into Windows Word document.

2. Save it and rename it with the .mq4 suffix.

For example: You save it as SpanishDayline.doc , the rename it to SpanishDayline.mq4

 

3. Copy the SpanishDayline.mq4 to Mt4 Experts/indicator folder, then start Mt4 ( close and restart if it is running ).

Mt4 will compile it to an .ex4 file and you will find it in the navigation tab together with your other custom indicators.

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  • 11 months later...
hmm, I agree. So here is an indicator that goes 'nicely' with the repainting indicator price. This indicator never repaint.

 

#property copyright "SpanishOpenLine"

#property link "[email protected]"

 

#property indicator_chart_window

#property indicator_buffers 1

#property indicator_color1 Blue

 

double g_ibuf_76[];

extern int TimeZoneOfData = 0;

 

int init() {

SetIndexStyle(0, DRAW_LINE);

SetIndexBuffer(0, g_ibuf_76);

SetIndexLabel(0, "Open");

SetIndexEmptyValue(0, 0.0);

return (0);

}

 

int deinit() {

return (0);

}

 

int start() {

int li_0 = IndicatorCounted();

if (li_0 > 0) li_0--;

int li_4 = Bars - li_0;

DailyOpen(0, li_4);

return (0);

}

 

int DailyOpen(int ai_0, int ai_4) {

int li_8 = 3600 * TimeZoneOfData;

double ld_12 = 30.0 / Period();

bool li_20 = TRUE;

ai_4 = MathMin(Bars - 20.0 * ld_12 - 1.0, ai_4);

for (int li_24 = ai_4; li_24 >= ai_0; li_24--) {

g_ibuf_76[li_24] = 0;

if (li_20) {

if (TimeDay(Time[li_24] - li_8) != TimeDay(Time[li_24 + 1] - li_8)) {

g_ibuf_76[li_24] = Open[li_24];

g_ibuf_76[li_24 + 1] = 0;

} else g_ibuf_76[li_24] = g_ibuf_76[li_24 + 1];

}

}

return (0);

}

 

Thanks ....nice little indie. I don't think I've ever seen this S/R indicator before.

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Well guys, I have a question: Many leading indicators repaints. But, it's possible to code a leading indi that doesn't repaints? I'll try to explain better: eg Fisher or similar: it says blu to go long at the end of a candle (and that's ok for me), then after one or two candles the price continues to go long and it repaints 2 o 3 or more bars before the one of your entry...... or, if price goes back it become red and repaints 2 or 3 or more bars before of your long entry...... Why this? Why bars change colors? I can understand now the conditions seems good to go long and the leading indi says: go long here! It's possible that the price reverse, but why repaint previous bars? The problem whit repainting indis is that we can't look back to study the percentage of success of their signals.

 

Someone has an answer for this?

 

Thanks!:)

Edited by Atradindo
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