I do not believe in magic indicators but seems it works having some probability.
I traded 12 pairs ... it was very good ... i used stop loss 70 and take profit 30 pips (4 digit pips) ... but I lost on silver/usd as never traded silver before sorry:
Hello New digital , I wanted to take the opportunity to ask about the test you did to this indicator, negative entries that occurred, you could notice with respect to the information and behavior of the indicator? something related to the probability or some support and resistance ..? because apparently is very promising ..
PS: Sorry for my English but was made with google translator.
Are you asking why I made 1 big loss?
because of my greediness
I used small deposit (300 dollars) and when I was making good profit - I decided to trade XAGUSD (Silver / USD).
But value for this silver is something as 32.45 for example ... so it is not 5 digit and it is not 4 digit ... and I confused with values ... I mean: losing 10 pips (4 digit pips) for EURUSD is 10 dollars if lot = 0.1; but losing 10 pips for XAGUSD is a lot of money because this pair is in 2 digit by value ... so - I confided with values as never traded this silver.
Forecasting is telling to us that EURUSD will go to downtrend by crossing pivot line:
and USDCHF - to uptrend by crossing pivot line too:
So, I opened sell for EURUSD and buy for USDCHF (we can see it on the chart).
I opened sell for GBPUSD too but forecasting is telling that it should be buy ... so ... no idea ...
will see ...
I understand what the loss, now ..! on my part and made two entries in the version M15 (2.2 WmiFor English) and because both successful course were 10 and 17 pips, a long and short, but I wonder about the operations you made in the previous test:
1) What was the time frame you used in your operations and what is the most indicator according to your test.
2) What percentage of probability, it would be good to consider when looking at certain instrument "60%, 70%, 80%, 90%," and I've noticed that at the end of a particular candle can sometimes change the address pattern was predicted.
3) And to take profit and stop loss you determine for each entry in the timeframe that escojiste.
4) To give more accuracy, that line of thought would be good to take them into account when making an entry with this indicator: look different timeframe, look at other instruments, in order ..
Thanks sorry for my questions that maybe are a rookie and you are because so far I'm starting in forex and also for my English as it was with the google translator.
I was reading your questions but I am waiting for few trades to be closed (read my previous post).
This WmiFor indicator from this post because we can see the probability in percentages of "the sample" (few last bars) compare with the past history. I am selecting timeframe according to more highier probability (this probability is written on the chart and it is different numbers for different timeframe).
What is good? 80% or 90% is good. But please note: it is probability that our sample (few last bars) will have some future continuation because indicator found same sample on the past history (looking at our chart).
I used sl 70 and tp 30 (700 and 300 in points).
But it may be different ... because this indicator is telling to us the direction and about how price will be moved. But when it will be happened ... indicator is not telling to us exact time for it ...
Yes, may be ... it may be good if some programmer looks at this indicator for improvement.
I did a few tests matching ProbMeter with WmiFor with promising results.
Although, due to lack if time at this moment, I can't do serious test. ... ¿.. May be you can consider include ProbMeter in your test together with the signals of WmiFor..?...
- The ProbMeter is not strictly a "forecasting indicator" but a "probability" one (are both not based in the same "probability" search...?.. ). As far I know, this is the very simple version.
I due my test with the aid of Ema 21 in 1 H. TF. You know: If price is above ema and wmi and ProbMeter signals a buy, I buy, although none of the indicators agree in the percentage of probability.
how you get SL&TP
yes, I think - it may be necessary to do the following:
- use first version to select the pairs and timeframes (for more highier probability);
I'm a bit confused, how you select SL&TP
Also what's happen when we have a high probability on the 1st version and other version is showing that the market will start to move on the opposite way, so in that case we don't have to trade or I have some history problems may be.
Thanks a lot.
I just hope that some programmer can look at all those indicators to fix and improve them.
I am using first version. I am not using the second version. Because second version does not have probability number written on the chart. As to sl and tp so it is not difficult to select because this firecasting is providing by candles with high and low (continuation of the price). In general - I am using sl 70 and tp 30 but it may be different.
By the way - it was exceptional day for yesterday as price was moved mainly on fundamental news so I lost for 3 orders sorry ...