Here we go..!! Prosource Indicator - page 2
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Good news for this elite section thread https://www.mql5.com/en/forum/174793 :
Igorad updated some indicators and created EA for this system.
Problem with link?
Hi newdigital,
I could not click the link for the indicators to download. Can you post/attach them if you can? Thanks for your help!
NY168
Hi newdigital,
I could not click the link for the indicators to download. Can you post/attach them if you can? Thanks for your help!
NY168NY168,
It was something that ZeeJay asked in 30th of October 2006 about some thread or image he saw somewhere.
https://www.mql5.com/en/forum/175406
I could not find it. I found it today occasionally only in elite section and posted the links. Forum is very big and elite section is big as well.
It is in elite section sorry.
This indicator reminds me of the Bat indicator:
Ok This is my first contribution . (I found it in a forum). A guy is selling an EA made with this indicator in eBay (ProsourceEA). It looks amazing..!!!
Greetings..!
Gustavo Cardenas
P.D. Please if someone has the source code post itWhat time frame is this EA supposed to be run on?
Dave
The indicator trend envelopes and trend strength they both work fine but you gotta sit there staring at screen until arrow pops up to try get in early enough.The EA's ive seen made on this indicator of course dont work because the people wo make them go overboard and dont keep it simple they make it read chart data instead of just the indicator arrows and add all these stupid functions etc because there retarded morons.All need to do is make simple order executor nothing more, based purely off the arrows, not off chart data candles etc, allowing only one position per signal, and it will be an always in market swing kind of system and you would make profits every month on almost anything from the dow to corn to fx.We should thank MrTools for posting this indicator as no doubt the people who make it want money for it.Yeh sure they probably got updates etc etc elite section pay us money make us rich etc etc but then they go overboard and it gets out of controll to many variables its perfectly fine how it is if you had an automated order executor would be even better.
What time frame is this EA supposed to be run on? Dave
Its meant to be run on M30 but I wouldnt bother using ANY of the perky EA's they dont work ive tested them they all over the place.
The indicator trend envelopes and trend strength they both work fine but you gotta sit there staring at screen until arrow pops up to try get in early enough.The EA's ive seen made on this indicator of course dont work because the people wo make them go overboard and dont keep it simple they make it read chart data instead of just the indicator arrows and add all these stupid functions etc because there retarded morons.All need to do is make simple order executor nothing more, based purely off the arrows, not off chart data candles etc, allowing only one position per signal, and it will be an always in market swing kind of system and you would make profits every month on almost anything from the dow to corn to fx.We should thank MrTools for posting this indicator as no doubt the people who make it want money for it.Yeh sure they probably got updates etc etc elite section pay us money make us rich etc etc but then they go overboard and it gets out of controll to many variables its perfectly fine how it is if you had an automated order executor would be even better. Its meant to be run on M30 but I wouldnt bother using ANY of the perky EA's they dont work ive tested them they all over the place.
I've been studying this indicator for the past several days and attempting to build an EA based on it. It definitely is an effective indicator, but here are a couple of glaring issues I'm looking for a way to resolve:
1. The indicator repaints. The signal arrows appear/dissappear/reappear with price action, even on higher timeframes, and across multiple bars. It reminds me a lot of the "SuperSignals" indicator. This wreaks havoc on an EA trying to read the values of the underlying indicator data buffers for the correct signal to fire an order.
2. Like any other indicator, you can't just arbitrarily take every signal. In ranging periods, you'll get killed. An additional filter or two are needed to qualify the indicator signals and help avoid jumping into chop zones.
Having said that, I still think the indicator has a lot of potential and the visual signals seem to coincide nicely with swings. I'd be reluctant to use it on any TF lower than H4.
Like any other indicator, you can't just arbitrarily take every signal. In ranging periods, you'll get killed.
Explain what you mean?
If you look at past history there isnt many of the little moves on a 4HR.
Depending what its used on of course.
Even when you get a little move where it goes the opposite direction then back again in short time you only lose a few pips I cant really understand what you mean by "getting killed" with this.
You lose a few pips here and there but the large moves more than make up for it also you cant expect every single trade to be profitable it doesnt work that way however if your not in it and it is then you make nothing.
Losses are small on this and it doesnt so much "repaint" the arrow dissapears sometimes then comes back but from what ive found it almost always ends up going that way anyway.
What is taking the arrow away I cant figure out because its not giving opposite direction or anything it simply dissapears and comes back.
There nothing in the indicator to remove the arrows so this has to be a bug in MT4.
Once arrows are printed on chart they should stay there nothing in indicator code to remove them.
So basically NO it doesnt kill you when moving range on 4HR charts, ive proven that to myself live in the past 6 weeks, however the arrow dissapearing issue needs to be fixed although if you made an ea to open the positions based on the arrow alone the position would still be open when the arrow came back.It aint gonna give another direction that quick it does sometimes but not often.Then if you made EA to limit to only one position per direction then it wouldnt open another when it came back until it got next direction.
This indicator thats attached I believe is supposed to be the kind of filter your refering to for this system.Basically if its up really high and you get a short then its more than likely going to be a big short than a little chop signal.
Super Signals
I've been studying this indicator for the past several days and attempting to build an EA based on it. It definitely is an effective indicator, but here are a couple of glaring issues I'm looking for a way to resolve:
1. The indicator repaints. The signal arrows appear/dissappear/reappear with price action, even on higher timeframes, and across multiple bars. It reminds me a lot of the "SuperSignals" indicator. This wreaks havoc on an EA trying to read the values of the underlying indicator data buffers for the correct signal to fire an order.
2. Like any other indicator, you can't just arbitrarily take every signal. In ranging periods, you'll get killed. An additional filter or two are needed to qualify the indicator signals and help avoid jumping into chop zones.
Having said that, I still think the indicator has a lot of potential and the visual signals seem to coincide nicely with swings. I'd be reluctant to use it on any TF lower than H4.
Hi,
I did test this indicator a few months ago,IT WORKS very similarly to the Chandelier stops and is based on similar guidelines,though IMHO this is slightly better and more flexible..see picture with both Chand stops and Prosource..and check,practically same entries and exits(reverses)
We created and discarded a(private) EA that used Chandelier stops as main filter for entry/exit..jointly with adding positions trough oscillators..it is safe and profitable(and boring like hell
),so,I presume that creating the right EA with this indicator should be too...we almost decided to adopt this indi to replace Chandelier stops,but frankly,with the right settings the differences were minimal..at least from visual checking for several markets and tfs
If you can get somebody to do this EA for you,it will probably work very well in MN1,W1,D1,4H..and 1H..and if you apply it to a wide enough portfolio of tradables(so that you have enough trends running to compensate for the low rangetrade periods) will make you serious money..don`t expect it to be the Holy Grail..it is the kind of 40% av W EA...with 3 to 1 ratio between avW and avL..and very contained drawdowns
Regards
Hi,
I did test this indicator a few months ago,IT WORKS very similarly to the Chandelier stops and is based on similar guidelines,though IMHO this is slightly better and more flexible..see picture with both Chand stops and Prosource..and check,practically same entries and exits(reverses)
We created and discarded a(private) EA that used Chandelier stops as main filter for entry/exit..jointly with adding positions trough oscillators..it is safe and profitable(and boring like hell
),so,I presume that creating the right EA with this indicator should be too...we almost decided to adopt this indi to replace Chandelier stops,but frankly,with the right settings the differences were minimal..at least from visual checking for several markets and tfs
If you can get somebody to do this EA for you,it will probably work very well in MN1,W1,D1,4H..and 1H..and if you apply it to a wide enough portfolio of tradables(so that you have enough trends running to compensate for the low rangetrade periods) will make you serious money..don`t expect it to be the Holy Grail..it is the kind of 40% av W EA...with 3 to 1 ratio between avW and avL..and very contained drawdowns
RegardsThanks for the feedback, Simba. I definitely am writing an EA based on this indicator. Just registering some observations I've made about it's behavior.