Forecasting indicators - page 17
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The other forecasting indicator (attached).
It was found here (previous post)
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next indicator is very interesting - you can see some some text in russian but anyway - we can see some number in the end of the text. This number is the probability.
On the image attached - the price for EURUSD M15 timeframe will go to uptrend (breakout) in the evening today with 81% probability:
It is very interesting to check ...
Indicator and template are attached.
Inetresting indeed, it would be nice if someone can translate it.
Translated (attached).
template is same (see my previous post).
It is the trades opened according to forcasting - I just select the pairs/timeframes with high probability (this probability percentage is written on the chart):
Translated (attached).
template is same (see my previous post).
It is the trades opened according to forcasting - I just select the pairs/timeframes with high probability (this probability percentage is written on the chart):
Hello newdigital, it looks like you posted the russian one again, can you check please?
Hi FxCba,
I translated the comments to the english.
You can see:
Seems - this indicator is good because it is written the probability of forecasting (we need more than 50%, right
).
I am not a coder so I translated the word "sample" as "pattern". because as I understand - this indicator is looking on similarities for price pattens (ScalePercents is 90% by defauls - it is minimal percentage of similarities).
if indicator found many forecasting variants so we can see the cloud (it is the area covered many variants).
As I understand - this indicator is using LWMA and looking for 24 bars back (it is changable in the settings) to find the similarities with LWMA sample using Spearman's rank correlation Spearman's rank correlation coefficient - Wikipedia, the free encyclopedia
The horizontal lines (which period of calculation) can be moved on the chart - just double mouse click on any of 2 lines and move it - and you will see new calculation of forecasting.
if you see comments in red color on the chart - forecast is not valid so switch to the other timeframe without red color of comment.
Author is Murad Ismayilov.
And it is next version from same author (attached).
Aqua color dotted line is stop loss level, aqua color line is take profit level, sell or buy.
I did not trade/test this next version sorry:
I think - it may be good to use 2 versions:
- first version - to select the pairs/timeframes with more high probability (probavbilioty number is written on the chart so it is easy to select);
- and the second version can be used for trading those selected pairs/timeframes.
A little complicated (we need 2 charts for same pair/timeframe) but at least - we will have more information about.
And this second version works:
yes, I think - it may be necessary to do the following:
- use first version to select the pairs and timeframes (for more highier probability);
- after that - switch to second version (as we know the direction already) so use stop loss and take profit levels.