1.5 day manual forward test.
I like it so far. More testing next week
Testing this indicator 'manually' is 'problematic' imo. This indicator WILL almost certainly signal most trend changes correctly. Unfortunately it will also signal most whipsaws as well. So how are you going to handle risk management - use a SL or just wait for a colour-change? It's 'fun' to just wait for a colour-change when there's no real money on the line and you will often find that works well. When you are trading for real though, this may not sit well with you (at least it didn't with me...), especially when you are 100pips in the red...
Rememeber, this indicator does not work with price levels, but averaged price-volatility. If the volatility stays below your threshold, price will continue to drift away from your entry point - it is possible (though not probable) that this could extend for thousands of pips.
I guess what I am trying to say is that in my opinion, success with this (or any) indicator depends more on how you manage your SL/TP's once you are in the trade, than the actual enteries themselves...
Thanks for the feed back I should have posted my simple plan to start off with.
The plan is as follows but it is early days.
SDL colour blue
MOM above 0.0
SDL Colour Red
MOM Below 0.0
85 Pip TS
50 pip SL
all indicators must remain in sync ie if you are in a long position and the mom and the sdl have gone short but the vq is still long remain long. only change direction when all three are in the same direction.
It is very early days but I have to start somewhere.
Beno, thanks for the additional info. - I will follow your progress with interest!
I hope the above post isn't seen as unduly negative either - I'd guess I have invested more time than most in this great indicator - thing is most people just look at historical data, say to themselves "ohhh, I could have had 10 pips there, 30 pips there 100 pi... etc." - you get the picture - but not accounting for the drawdown a real account might have to incur before any profit was realised.
No I saw what you said as a positive. And yes there has been alot of work put into the vq indi.
I am planning on opening a fresh demo alpari acc to test this with the minimum. Because I firmly believe that if a system can't protect and grow a small account how the hell is it going to do the same with a large acc. Like the saying goes "look after the pennies and the pounds will look after them selves".
i really like this for using as trend confirmation. use it with prosource.
but u are right about whipsawing.
Can you post the EA, so I learn how to use VQ.......
I don't think there is an EA based on the VQ indicator.
But if you are looking for the indicator please have a look on post 1 at the top.
please tell me what is the indicator!.
Hello, I saw this indicator from pictures in topic VQ. Please tell me what is the indicator! (indicator which showed yellow and MediumTurquoise values: 2.0389 & 2.0349). Thank you.
please attach it here. Thanks so much.
You may need to set the arrow code to 5 either in the indicator or in the code. I dont have this indicator.