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@ SITE::LITE DOES NOT REPAINT indicator @


cazador

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SITE::LITE DOES NOT REPAINT.

http://imagehost.vendio.com/preview/a/35014670/view/siteliteanimatedsmall.gif

 

http://imagehost.vendio.com/preview/a/35014670/amzn/sitelite_bar_animated.gif

 

Arrows Do Not Plot, They are for illustrative purposes only.

 

Any Illusion of Repainting is related to its Multi-Timeframe Properties and multiple blocks representing one single bar when a higher timeframe setting is inputed on a lower timeframe chart.

 

E.G. in the chart above, the lower SITE::LITE has a timeframe [periodicity] setting input of 15Minutes. It has been inserted on a 5Minute chart.

 

(15) divided by (5) = (3).

 

Therefore, (1) bar on the 5Minute chart needs to be represented by (3) Blocks because it takes (3) 5Minute bars to total 15Minutes. Because of this, the (3) blocks on the bottom of the chart that turn color in tandem can change trend direction sentiment before the close of the actual 15Minute bar that it is collecting and calculating data from. All the while, the above SITE::LITE with a timeframe input setting of (5) inserted on a 5Minute chart is respectively represented by (1) block and remains color-unchanged after chart bar close.

 

 

This seeming obvious phenomenon appears less obvious to new users and more pronounced when installed with higher quotient timeframes. I.E. when the combination of Daily and Weekly are inserted onto a Daily chart causing (5) blocks to change color in tandem on the Weekly insert.

 

[color=Black][b][i]http://megatrendfx.com/sitelite.aspx[/i][/b][/color]

 

http://img253.imageshack.us/img253/5476/siteliteweb2.png

Open a percentage of a Normal Trading Position when

SITE::LITE™ Block Color agrees with HA-MaX™** Bar Color.

 

Continue to Repeat until BOTH AGREE = FALSE.*

 

Download Now and try! 8-)

http://www.massmirror.com/f0a2126156c267064def22fbd922f4b4.html

Edited by cazador
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  • 2 months later...
I can program an EA if some1 gives me the exact logic behind the trading of this indi.

I have been testing it with rules of myself with not much profit (i dont mean I dont trust this indi, i just say the strategy I used was not profitable)

I think if a simple EA that is made using a single indicator is not profitable in backtests and/or live trading, then the indicator itself should be deemed unprofitable and therefore useless.
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I can program an EA if some1 gives me the exact logic behind the trading of this indi.

I have been testing it with rules of myself with not much profit (i dont mean I dont trust this indi, i just say the strategy I used was not profitable)

Any hints?

 

I think an EA is a great idea. I've been using the two Megatrend indicators provided in this thread and i find them very reliable. I use the 1 hour chart and when a change in candle color by the HEIKIN-ASHI Alert is confirmed by the SITE::LITE indicator I enter a trade. Usually 25 TP with a 15 TS. The success rate is 100%. If you could program an EA so that a trade is opened when these two indicators align, and with a trailing stop option, I think it would be fantastic.

Edited by gptoro
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I think an EA is a great idea. I've been using the two Megatrend indicators provided in this thread and i find them very reliable. I use the 1 hour chart and when a change in candle color by the HAIKIN-ASHI Alert is confirmed by the SITE::LITE indicator I enter a trade. Usually 25 TP with a 15 TS. The success rate is 100%. If you could program an EA so that a trade is opened when these two indicators align, and with a trailing stop option, I think it would be fantastic.

 

Are you waiting until both Megatrends + HA match or do you only look at the trend of the selected timeframe + HA?

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Are you waiting until both Megatrends + HA match or do you only look at the trend of the selected timeframe + HA?

 

I only have the two indicators: HA - attached to my 1 hour chart, and S::L which runs underneath which is also set to 1HR. Usually, the candle produced by HA changes color before the dot of the S::L. When, S:L does confirm the color (usually 1-3 candles - depends, could also change at same time) I enter.

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I only have the two indicators: HA - attached to my 1 hour chart, and S::L which runs underneath which is also set to 1HR. Usually, the candle produced by HA changes color before the dot of the S::L. When, S:L does confirm the color (usually 1-3 candles - depends, could also change at same time) I enter.

 

So you are not using the "MEGATREND SITELITE" Template?....that comes up with two trend indicators

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