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Godbands & Vostro


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I do not speak French! ;-(

How or when to enter the trade with these indicators?

How to avoid wrong signals on Godbands? Anyone has a manual?

Many thanks!

 

On the Gold Bands, just wait until they get very narrow, then take the first close outside of them. Initial protective stop (and reverse) a close outside the opposite band. Trail a stop to protect profits... Hope that helps.

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RE: Vostro, even assuming this indicator doesn't repaint, did anyone notice with me that the signal arrives late? Also it would be nice if the spike were proportional to the market move it's ostensibly "predicting." Really IMHO, an indicator that doesn't predict (and accurately) is useless. Anyone with coding experience can write an indi to report events in real time, I mean that's what candles do/are for. An indicator that doesn't lead is no indicator at all.
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Wow. Goldbands is very colorful and busy eye-candy. Q: does it tell you which way the market will move next?

 

It doesn't tell you WHICH way the market will breakout (although the center line color does give a general bias). What this indicator does do is tell you WHEN to expect a breakout and big move. In that respect, A Job Well Done!

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Thx Diesel; on which TF do they advise ? Do you have a manual ?

 

I don't have a manual. I'd say 5m or 15m because you want to be able to take a reverse if it closes outside one band and then another. On larger time frames, the loss could be too big for you to do this (unless you decreased the initial position size...).

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"the bands get very narrow"...when you know how much narrow the bands could be ?

 

Find the highest distance between the high band and the low band in the last 100 bars. Find the lowest distance between the high band and the low band in the last 100 bars. Subtract the low distance from the high distance which will give you the 100 period range of distances between the high band and low band. Now subtract the low distance from the current distance and divide the outcome by the 100 period range of distances. Anything less than 0.10 (ie the lowest 10%) is extremely low! Hope that's clear.

 

I know nothing about coding, otherwise I would code this as an alert... I think it could be VERY Valuable !

Edited by Diesel 10
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I've made a version with alert

I've tried to build an EA around it; but it needs a lot of extra filtering to be succesfull.

All tips and kudos are welcome !!

 

http://www.4shared.com/file/OIj5GO6b/GoldBands_with_Alert.html

 

I'm not able to download this indicator from 4shared. It times out. (Never had this problem before...???). Can someone please mirror this to mediafire.com ? Would be much appreciated!

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