I was affraid to open this thread. Why? because it is difficult to manage many threads on one forum. Anyway - I will try :) So, we are talking about
We will discuss about the following:
And just to start. This may be very original Asctrend system - Asctrend indicator is from this CodeBase entry.
Do you know the history of the development of asctrend system? Well ... many many years ago (once upon a time :) ) - it was cool war. Americans created some signal system and names it as asctrend (they did it for some other platform which is not related to Metatrader). Later on they converted it to Metatrader 3 (it was not Metatrader 4 in that time).
The meaning of this system was the following: when trend (bullish or bearish) is going on so we can catch just some part of the trend, mainly from the middle to the end of the trend using signal indicator and some "filter indicator" to filter false signals. Simple system? Yes. But it was many many years ago ... and it was for the first time ... So, basicly with this system - we do not care about enter - because we are entering the market when the trend is already developed. We are entering according to the dots of signal indicator (asctrend indicator). We care about exit.
Forex world was divided in that time. So, Russians want to create the similar system to be Russian system. They were trying to do it: they created SilverTrend system, BykovTrend system amd more. But they failed - they could not create the different system according to same principle (catch some part of the trend when trend is already developed) - everything (which they developed) had same results - American Asctrend system :) Everything which they were trying to develop - had same looking on the chart :)
When cool war in forex was finished so asctrend system was accepted on many international/local forex forums as the best/first signal system in the world.
More to follow.
First of all, congratulations for starting this new thread, I liked the content proposal so would like to share my opinion about.
I think in the past the market was not as competitive as today, and did not have the same level of technology, which allowed the creation of more sustainable strategies, as proposed by asctrend.
I may be wrong but my view is that we need various kinds of strategies and dynamic setups to survive in the market today, and the big challenge today is choose the right trading signal and right time to use it.
For example, looking at the graphs shown in your post, we can have the false illusion of a perfect signal, but in reality, the blue and red points are constantly changing.
What is presented is just a picture of the past. I would like to have the same indicator whith a side point change number, until reach the final one (this would be the real cost of this signal to find the right way).
The costs of the changes, which require the constant changes of position, tend to consume the gains and make complex analysis of the effectiveness of these strategies without a history of actual trades.
Yes, that's right:
... and the big challenge today is choose the right trading signal and right time to use it.
It is related to market condition. But we need to start with something - if I want to explain about how to trade signal systems so I should explain about "what is signal system itself". As asctrend is the first signal system so I shoul'd start with asctrend.
the blue and red points are constantly changing
Do you mean: indicator is repainted on close bar? I did not see it ... let me check ...
I think - indicator is not repainted.
Yes, exactly: a picture of the past. Because this is manual trading system and those kind of systems are having one name: signal systems. Why signal systems? Because trader is openning the order based on dot or arrow on the chart (trading signal placed on the chart). And those systems are traded on close bar.
I mean: if we see the signal (for sell or for buy) on open bar so we should wait intil this bar will be closed, and if we still see this signal on close bar - we can open the trade. Later on I will create the video about 'how to trade signal systems on close bar'.
Why I want to explain it in details? Because we can not even imagine about the questions which may be arised by the people who installed metatrader for the first time to trade by his first depposit. Because coders and traders are not explaining how to trade. There are a lot of indicators in CodeBase, we are having many good threads with programming questions ... But just imagine: person downloaded metatrader, deposited some money to the broker and he started to trade .. How to trade? Did anyone explain? No one ... That is why I opened this thread.
Besides, I hope that we can build some good signal system as well. So, I open this thread for educational purposes and for practical purposes as well.
Sorry for complicated explanation in the morning.
This is the other example with asctrend indicator (by default settings):
Yes, I agree - the settings of this indicator depends on how market is volatile but it is related to the market condition too - and we are having some thread about it Market Condition Evaluation based on standard indicators in Metatrader 5