It is not a question of repainting with some indicators, but a question of calculating. LSMA in color from that pack on post #1 is going to repaint, but it's values are calculated correctly (unlike the snake force indicator)
A line from snake force code (line 193) and the function it calls:
// this is the called SnakePrice function
double SnakePrice(int Shift)
Shift-5 means it is looking for price 5 bars in the future. Could you please tell me just one bar in the future what will the price be? I would really be most grateful (after all, when I know that, Buffet would be child's game to reach). Otherwise, if no one knows those prices, you should stop using that indicator.
Values it is calculating are simply meaningless.
Collegues, does anybody know if the LSMA_in color indicator repaints?
Using a repainting indicator on a 5min chart is as good as suicide, but on a 1hour/4hour chart with 60-240 minute long candles... It's repaint (Actually i never noticed the so called 6-7 candles dramatic repaint on the 1hour/4hour as yet,) is actually somewhat profitable,
Regards to the ZZ, i dont use it for reversals or to trade on basis of it, its only used as ideal stoploss for the trade.
Anyways... if its bad just dont use it, if you think it works, test on demo and see the results.
Famous software is using repainting indicator. EW "predictors" constantly repaints. Every we used eSignal or MTPredictor knows that and still are followed/used by many traders which are prepared to see how the indicator keep moving. Key of these systems are the confirmation indicators.
You could stay in front of your eSignal screen watching how the EW counters keep changing, however the EW oscillator or RSI does not . That's the key.
I found a great workaround to eliminate the fake or moving ZZ, its very simple.
Simply add "Fractals" on the chart and only the zigzag that has a fractal up/down are valid reversals,
Try it on the chart and see, 80-90% accuracy on zigzag pointers!!
The LSMA is just a yellow line that change color to red/green and yes it repaints bar after bar depending on how the market moves.
You mean to add as filter the original "Fractals" indicators from the MetaTrader4 package?Or you have some better version?
Yup the default metatrader fractals
I recall reading somewhere that fractal which comes with MT4 is wrong, I will try to find it fixed version.
Dude, Fractal is simply when candle makes a lower low and closes in upper half or when candle makes a higher high and closes in the lower half.
I checked the fractal of mt4 , its displaying correctly.
Yes, they repaint but...
For those of you who have probably seen my monica leaping around this site from thread to thread, I'm the kind of trader who likes action and the way I resolve this, (like many of you, I'm sure), is to try as many strategies as my brain, eyes and reflexes allow...
That said, I have been testing this particular strategy since I saw it posted at the end of last month. Yes, we all know that snakes and LSMA and zigzag repaint. However, I would like to make the following suggestions:
Use higher timeframes only!
Keep LSMA to help identify trend
Use fractals (as dznmrd suggests, fractals help to identify true signals as they don't repaint)
Keep original zigzag to help determine highs and lows for stop losses only.
Now add NonLagZigZag. Despite the name it is laggy, but on higher timeframes, this doesn't matter. It should really have been called NoRepaintZZ as I have yet to see it repaint even on lower time frames and I believe that is what its author intended. Like I say, useless on lower timeframes due to lag, but H1 and higher, its good.
Next add MTF HAS bars. Use the colour changes as an indicator to either enter or exit a trade in the direction of where the next NonLagZigZag will be. For the most part, colour changes appear accurate in direction of colour, but use nonlagzigzag direction to confirm or overide if necessary.
Trade as dznmrd prescribes, but use fractal caps on zigzag to confirm closing out and entry of trade, rather than zigzag pointer. Finally WAIT FOR CANDLE TIME TO CLOSE. You will miss out on potential profit, but thats better than to lose money.
I've been forward testing this strategy and take at least 50-100 pips per trade depending on currency pair and fear of loss.
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