I always thought you can only backtest EAs. Backtest an indicator is just looking scrolling back looking at the price action, is that correct?
HI guys, This indicator does not give any directions. If the market wants to fool us, no one can stop it. Hopefully in next version I can add reasonable good directions to this indicator.
With any breakout system, its not possible to tell whether price action will continue upwards or downwards. I am interested as to how you trade it using this indicator.... For example, do you use trend lines, determine the trend direction, S/L, etc.???
Please explain for us how these indicators work?
Kohzadi, I have no idea what it is suppose to do, but what I did was to put it on a fresh 5M chart and looked back to where the signals were. Those seemed to have been fairly accurate, so I added it onto my live-trading-chart just to see. However, it never signalled an entry but the exit was absolutely accurate.
Maybe the originator can be a little more specific as to what he/she wants it to do and with help from the wizzards around here, his development could be quicker.
Hi Niva, so if it does not give directions, what is it for? Why does it give a very good EXIT signal, but misses THE most important ENTRY? I am totally confused.
Here are the AdModifyv3 and AdComplete is the 4th version. The 4th version has both breakout and dirction fuction. Try it out. I'm looking forward for an EA already.
What does the red x's mean in the chart? When I compare this new version to the prior version, there are more x's in this version. Also, if you look at the Aug 17th at 16:00 GMT time, the EURUSD went down, but no indicators to short [a big move]....
Those red Xs are from the previous Admodify versions, means potential breakout, where the market going to play some of us. In the version of AdComplete, it combines both breakout and direction, so there are no Xs any more but red and white arrows. The variable limite of this indicator controls sensitivity, lower the limite makes it more sensitive, gives more red Xs. The big move, this indicator detects market moves instead of prices movement, there was no inidcation for the big move which you said, because the market didn't want to cheat us at that point.
Thanks for clarifying the indicators. Using ADComplete alone one would have missed some nice downward moves, can you tell me what the input is looking at? The new ADModify is indeed better than the previous version, but can you tell me if the inidcator is waiting on a completion of the candle before the red-x occurs [the market is close today so I can't tell].
It works on current candle, I suggest the limit = 27, and wait until the candle with x finish.