(read) WHAT IS A PERFECT INDICATOR?

[pjj]

Thanks for your sharing.....

[kapri65]

I AM the perfect indicator, when I go short, you go long and win, 100% guaranteed :P

 

Copycat!!! that's MY indi!

[Anthos]

I think that best indicator are candlestick pattern. A pattern can alert you before than other indicators. The indicator's value is based on past history. If you have a double reverse no one indicator will be perfect.

[mtuppers]

well, I did post it before as trading system.

 

ADX(DMI in meta4) and stochastic.

rules

only trade when adx show uptrend and stochastic crossover to buy only.

[Guest Kc8flq]

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.

[4xmeter]

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 September 10, 2010 by 4xmeter

[pipsmasterone]

Price is an indicator but it repaints too much

[4xmeter]

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);

}

[jamestan1978]

Problem is no one can predict the future and nothing can...

[pipsmasterone]

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"

[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);

}

[Freddie]

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

 

Open MT4 go to Meta editor (a yellow diamond with ! in it) copy it in, compile. Hope that is enough to get you going in the right way

[fxeasy5]

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.

[Elma]

Here is the mq4 file:

http://[email protected]/file/bCMm09Xw/SpanishOpenLine.html

[Guest fxdon]

looking good but need ma and other conformation for take position thanks for sharing

[Guest fxdon]

is it repaint??

[fxeasy5]

is it repaint??

The daily open price cannot repaint.

This indicator just draws a horizontal line at the opening price.

[Diesel 10]

The Rythm of the market is the perfect indicator. Do not have opinion, prediction or bias. Want what the market wants! Learn to identify and go with this rythm and you will be successful.

[wadesworld]

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.

[anton1713006147]

please re-up

 

Hi friends,

Please re-up this indi...

Thank you

 

 

Here is the mq4 file:

http://[email protected]/file/bCMm09Xw/SpanishOpenLine.html

[wadesworld]

mirrored here:

 

http://www.mirrorcreator.com/files/1SUSITEM/Spanish_Line.ex4_links

http://www.mirrorcreator.com/files/U0FNIV0M/Spanish_Line.mq4_links

[Atradindo]

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 October 29, 2011 by Atradindo

[hermes]

There are no leading indicators! Leading indicators are called prediction indicators. But we have whole bunch of lagging indicators because except God nobody can predict what's happens next. Use pendulum and you will line up with God (possible).

Hermes

[wadesworld]

Another thing you have to ask yourself about some of these so called "repainting" indies might be.....Is it truly repainting like some do or is it actually recalculating using the most recent data before the bar closes thus changing some of the previous bars? :-/:-?:-/:-?:P

[dannydon786]

I have found the perfect indicator which is:

 

when the trend is up go long

when the trend is down go short