More than an interresting indicator

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Hi! I have found a fractal indicator in a post by newdigital (massive thank you!!!). I played with it a bit and got this picture.

Files:
ind1.gif  26 kb
ind2.gif  19 kb
 

OK,

But can you tell me what indicator it is?

Thanks!

moneyline

 

Now as far as I know these turning points highlighted are fractals where price is touching the Shi channel. So I modified the default color settings of the indicator to show only these marks (line 4 and 5). As you can see they seem to be excelent turning points. Now my problem is that I have a very bad feeling that this can be achieved only by repainting the past, since the Shi channel itselfs corrects its parameters after bigger moves. A minor disatvantage is that it is fractal system so we can enter only on the second bar after a marked bar. It works best on lower timeframes, I think best on 15 min. or 1H.

Since I am not a coder I have no knowledge in mg4 language. I would like ask someone to go into the code of the indicator a find out wheter it repaints the past or not. If it does not, than it seems that we have a very valuable indicator at hand.

Thanks beforehand!

Files:
ind-fractals-1_1.mq4  6 kb
 

Thanks JimmyJoe,

Why are the arrows in the illustration pointing in the wrong direction?

Seems somewhat counter-intuitive...doesn't it? BTW, most indicators

I've seen with that much accuracy repainted the past.

moneyline

 
moneyline:
Thanks JimmyJoe,

Why are the arrows in the illustration pointing in the wrong direction?

Seems somewhat counter-intuitive...doesn't it? BTW, most indicators

I've seen with that much accuracy repainted the past.

moneyline

Hi guys

If it doesn't repaint the past, permit me to say it is THE HOLY GRAIL everybody is looking for....

Probably, it repaints....UNFORTUNATELY

DV

 

This indicator gives way too many signals so I would elect not to use it anyway. cheers

 

It seems nice but I think it's totally useless on small TF: the signal is painted on the previous bar and remains unstable up to the close of the current bar. So you can use it only at the second bar after the signal is triggered...

Good luck...

 

Well, if you like this one, take a look at SHI_SilverTrend, it calls out all the trend changes in the full glory (and knowledge!) of past candlebars.

moneyline

 

Sorry to spoil the party JimmyJoe, but that fracal does repaint the past...

 

Hi

This is a lag indicator. It may put signal on previous 20th candle when profit flies.

 
bluemoon707:
Sorry to spoil the party JimmyJoe, but that fracal does repaint the past...

could you point me to a good indicator that does not repaint the past, or does it not exist?

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