Radical New Indicators? (or more noise)
--its an indicator. I hope your not using it other than a getout.... A good play for an automated system getout or manual. Assuming you can replicate on a consistent basis after these moves. Anyway, looks like a 5th wave failure so a good full retrace.
----I dont' think much of the "indecison indicator." 1 harami cross dont' mean squat among 1 zillion bars. You will need something better for direction.
Oy...........
What a negative "attack" on someone who really comes up with something that he generated by himself. He does NOT claim that this is the panacea, not that it is working successfully - YET. He is asking for brains like him and better, to help him either develop it into functionality, or in worse case scenario, condemn it.
Well done Quantem for thinking "outside the box" - there are some pretty smart guys around here and I am sure you have a couple of them already quietly testing your concept. I will join the testing group and look at suggestions to improve (if at all).
I commend you for developing this set of indicators and I trust that it will end up being successful
Best wishes.
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hey have at if you think it works. Make millions on me! --- Also, he asking for a critque and I gave him one. Should I have handed him a "glad bag". Great job, attaboy, I appreciate your hard work? not like he was gonna share. The market don't care. Reasons:
position 0) Using a harami cross with 5 zillion different platforms with different open time frames/opens is dangerous. If I saw two or 3 haramis that might be different--- that is reality not a negative attack. I was just saving some time for the dude and work a differnt angle. If he is smart, which he is ... he will understand it. The only time I have seen a harami work is right at market opens when it crosses "the open" and stops on the 15mn ..then it takes off. Otherwise, the middle of the day stuff is chop suey;.
I couldnt test this as I think thats been done. Not a lot of market indicision at 2:00 in the afternoon~! Outside of the bond market moving .
position 3.) The pressure indicator is a modified stochasic. that is, if the market doesnt keep moving up ... it has to turn. I think that is the key question he is asking. I never said he was not on the right thought process with this idea. My thought, would be that I would be freeked if I tried to take a counter trade or a trend trade when you just had a move up...
Quantem, where have you gone????????/
Quantem,
I have studied your proposed indicators with great interest as it was a new idea thinking outside of the box.
However, I am afraid to say that it needs more work on your behalf. I attach a screen-print here for you to see how "inaccurate" it is presently. One cannot rely on it much imho.
Notice where I drew thos Blue wedges? That is where it started out and finished off much higher as you can see form the screen-print.
Looking forward to hearing from you.
Best wishes.
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Hello everyone.
This is the first time I have posted any of my custom indicators.
Preamble;
I have my own successful system but one thing that has always bugged me (and every other trader) is timing. Timing a trade correctly is so vital that it can be the difference between a 50 pip stop and a 20 pip stop. Dropping from a 50 pip stop to a 20 pip stop can take all of your 1:1 ratio trades into 2:1 ratio (and higher) trades. So stops are vital. Not just there to keep you safe.
I have been playing with 2 ideas to improve timing. The first idea is finding a way to detect indecision on a candle by candle basis. The second idea is to detect the amount of buying and selling there is per candle. By combining these two, I theorized that one may be able to time a turn better and therefore time an entry better. I have therefore written 2 indicators that attempt to do this. (More details below)
The first vital point is, I would NEVER use this to make entries, so please don't get excited about a new trading system being developed (unless you see something I don’t see?). What I am looking to achieve is a way to quantify the price action, when the market reaches a point of resistance like a Pivot, fib level or EMA etc.
As anyone who has ever tried to trade pivots will tell you, how do you know when it's going to just blast through, and how do you know if it’s going to turn?
I have attached the ex4 versions of the indicators. Forgive me ahead of time, but I cannot release the source code just yet. I have used proprietary calculations that I do not want revealed. I may change my mind but as this is my first time posting any of my indicators, I am a little nervous.
Why am I posting?
More brains are better than one. I’m not sure if I’m on to something here or I have just created more noise on the charts. So I’m hoping that some others can load them on different pairs and charts and see if a pattern that is actually tradable can be spotted.
The Indicators (attached zip file)
Bears Bulls Pressure Indicator
This indicator uses a very unique combination of information to determine how much downward and upward pressure there is small bar group. Usually 3 bars is best with the weight being placed on the current bar. It uses an ema to initially seed the calculation and determine the calculation direction. The current settings work well but I have made them changeable if you want to experiment.
Indecision Index Indicator
This indicator detects when there is indecision within a single bar. The current assumed indicator, is to look at the candle shape. A doji is considered a sign of indecision. This indictor does not detect candle shapes. It uses proprietary calculations from different timeframes, to determine the amount of activity with the candle. So it is more reliable on higher timeframes, because it has more (lower timeframe) data to use. On a 1 minute chart it will function, but will be somewhat confused. I probably would not use it below 15 minutes with 1 hour being the best it seems.
Study the chart below and see my comments following.
Position 0.You will see that the indecision index spiked up during the period of doji’s. Remember it does not detect candle shapes. But it is an interesting endorsement of my calculations that it often spikes on doji’s. But not always! Back to the point: at ‘0’ you can see that the indecision spikes and the bull pressure is flat. It has however changed from red (bear pressure) to green (bull pressure). Is this an early warning signal? If you look at the 2 candles after ‘0’ the indecision drops through the floor while the candles begin to rise slowly. So small upward movement but almost zero indecision. Is this an early warning?
Position 1: At position 1 you can see a large bull candle which is reflected well in the Bears_Bulls indicator. Also the indecision is still low but rising just a little. It probably rose because after a big up candle like this you often see the top end of it bounce up and down for a while.
Position2:You see the indecision spike up even higher than at position 0. Is this time to exit? The bull pressure is half that of the candle before.
Position 3: This is the most interesting ‘signal’ to me. First look at the indecision index. Its not higher than earlier candles (position 0,1 and 2) but it is higher than the last 4 hours of candles. The indecision takes place on a candle that is rising and is also bigger than the last 4 hours. Plus the indecision is rising as its making a new high. Does this mean anything? The bull pressure is rising a little but not by much. Is this a warning signal? One could think that the market is rising again, but because the indecision is spiking up, do we use this as a caution signal, if nothing else? The next candle drops significantly, the bear pressure rises and the indecision drops again.
OK folks over to you. Play with it and post it here. Let me know if you think it’s a radical new approach or just more noise on the charts that we don’t really need.