3_Level_ZZ_Semafor (indicator for MT4) - page 26

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CodeMuncher AKA TRO:
Look at the original 3 Level ZZ Semafor indicator and look at the latest 3 Level ZZ Semafor TRO MODIFIED version and decide for yourself which one you want to use. They are both free.

Eh!...Not the TRO modified one, that's for sure...

Xard777

 

re 3 semafor

Hi there,

Can someone please update this indicator so that it will alert a different wav file for each level 1, 2 & 3. i.e wav1, wav2 & wav3

Thank you

Xard777

 

re 3 semafor

Linuxser:
The only think I know about 3 level sem... is it's based on some ZZ as author explained.

Here is a similar chart showing 3 level semafor and zigzag indicator in use.

Xard777

 
pjo:
I have been running 3 L S for several hours and found out that i cannot be used to detect entry point.

I am wondering how it is used ?

pjo

Wait for the first pullback and then look at entering the market.

Xard777

 

Semafor with History...

Hi,

I am working out on MM concept around 3 Level ZZ Semafor Indicator. The biggest issue with this indicator is that it repaints. However I still feel that it can be traded successfully. I may have a system but I am not sure as I do not have any measures to find out where Semafor 3 has been formed in the past. I mean it is not possible for me to back-test for any results. Hence this request. Would someone be able to make some adjustments in this indicator so that once the BIG 3 appears on this indicator (lets say BIG YELLOW 3) and assuming the the PA breaks through this 3, then the previously formed 3 must not disapper, maybe a color change is OK but not disappear. It is OK to have a new 3 on the new candle due to breakout but then the previous 3 must also remain on the chart everywhere, wherever it appeared on the chart. So basically I am looking for peeping into Semafor appearance on historical basis. Can soemone do that for me. I will appreciate it.

Thanks for yor help.

Cheers....

 

What is really needed is an indicator that will show when a 3 appears on all of the pairs for the time frame you are looking at.

Ex: If you are on the 1h for e/u and have this indicator running it will show you if there are any other 3's for e/g, uchf, a/u, etc..

Imagine just flipping the time frame and knowing if a 3 was on any other pair.

 

Clarification

Greetings fellow traders,

The Zig Zag indicator and its derivatives are very useful indicators in identifying potential market turning points. However, this family of indicators cannot be used in exclusivity (i.e. by itself). By default the Zig Zag indicator re-calculates the end point with each price move and bar close.

The program is designed to look for maximum and minimum peaks in real time and thus if a price moves in an impulse wave then retraces, the indicator will mark the pivot point marking the reversal. However, should the market continue the original trend and break the previous market pivot level, the indicator will mark this breakout and continue to move with it until a second retracement occurs. Therefore, it is inaccurate to say that the indicator "repaints" since it does not. It re-calculates; it is programmed to do that. Repainting is a bug in the code; re-calculation is part of the code

So, the obvious point would be how could this indicator be used? Quite simple, you will need to use it with confirming indicators, preferably leading indicators vs. lagging indicators, as well as momentum indicators. A good example of leading indicators is trend lines and support & resistance lines (pivot points, Fibonacci, etc). My favorite momentum indicators are moving averages (if used correctly).

The next question, naturally, would be how to trade with this indicator? Well, imagine this if you will - you select your favorite instrument to trade and time frame, then you identify support and resistance levels using your favorite method, then you attach two moving average, one with smaller period than the other (e.g. 8 period and 13 period), then you attach your favorite Zig Zag indicator. Look for two types of setups

1) A bounce off of a support or resistance levels with a cross on the MA's and pivot signal from the Zig Zag indicator.

2) A bounce after a pull-back to the MA's, provided that the MA's have a good angle of descent/ascent and good separation.

It is worth noting that none of the indicators mentioned here would be profitable if used by themselves; however, when combined, each gives an important piece of information that aggregate to give you a complete picture of the most probable next direction of the market.

I hope this helps.

Cheers,

 

Listen to Pip

Pip,

I am suprised a lot a people trawl in these forum looking for the holy grail or the perfect indicator that indicates when to enter and when to exit. Common sense like what you have just described alongside sound money money management principles is all a forex trader or any market trader needs to be successfull in trading. Its took me 12 months too come to the realization you have just described and i wish others will just read your post and just listen to the markets. All the solutions is in the market itself. Thanks for dropping that post.

 
kikizoo:
Pip, I am suprised a lot a people trawl in these forum looking for the holy grail or the perfect indicator that indicates when to enter and when to exit. Common sense like what you have just described alongside sound money money management principles is all a forex trader or any market trader needs to be successfull in trading. Its took me 12 months too come to the realization you have just described and i wish others will just read your post and just listen to the markets. All the solutions is in the market itself. Thanks for dropping that post.

My pleasure, and thank you for taking the time to read it.

To your success,

Pip

 

Hi,

How can I use the semafor indicator in my EA?

What is the code to detect if a level 3 circle has appeared ABOVE of the previous candle?

What is the code to detect if a level 3 circle has appeared BELOW of the previous candle?

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