Which direction did u take your UJ just now for the -10?
That is what I was referring to "it repainted the 2 preceding bars after it moved 20 pips". This is what I also thoughtI saw when I was doing my manual checking. I'm going to manually record a pair or two again on the 5 minute chart using the 2,2,2,2 settings today to see what happens, and the regular settings.
it repainted the 2 preceding bars after it moved 20pips.
i had all 4 timeframes for both currencies flashing 4 red dots for two 5mins bars and 4 blue dots for two 5mins bars on eurjpy. both went against my entry. i m testing this new version(the 2,2,2,2) with micro lots, so not a big loss. always practise with little money guys, new parameters.
instead i have seen that gbpusd had great entries with setup 2,2,2,2
Here's what I find on the manual testing of the repainting issue on the 5 minute chart. It sometimes repaints the bars preceding. At times, when the new 5 minute period starts, some of the bars for the 5 minute period you just left repaint. Let's say you the new 5 minute bars that just opened have all 4 blue. The 5 minute bars you just left WERE red, red, blue, blue. But, as soon as the new 5 minute bars open, those two red ones on the prior 5 minute bars change to blue, blue, blue, blue. That now gives you two sets of bars that are all blue. That would indicate a buy. Suppose you immediately open a buy, and the next close changes those 4 blue bars to red, red, blue, blue. That indicates you're in a trade that may not pan out. Because now, instead of having two sets of blue bars, the first set is still all blue, but the one that closed (that was also all blue) now has one or two red bars. This is why scrolling back and looking at the bars and then lining up the trades to see what you could have done had you traded every second set of all blue of all red bars does NOT give a true picture. Because in some cases, if you enter immediately on the OPEN of the second set of all blue or all red bars, you may see those bars change at the open of the next set of bars. Merely looking at the chart in scrolling back only gives you a picture of how the trades would have panned out IF the pair kept trending that way. To be fair, I think that as a manual visual back test of how you may have done, you should mentally think of how the trade would have done if you entered on the THIRD set of all blue, or all red bars. This is mytake on it, and others may disagree.
HOWEVER, today in making trades off the second set of bars on a few pairs, I made tons of pips. The market trended like crazy. Too bad itwas only on my demo account!
Where does real scalping come from ? Times Change - Day Trader see this @ 1st
The American Indians!
The marked candle gave a short signal. I did not take it because it closed above the 8EMA in an upward trend overall. However the next candle immediately changed to long which was a nice little entry at the end of the day. So many pips available today in the long. The signal has repainted and yes - I am finally starting to notice a problem with this indicator in terms of the repainting. All credit to ValeoFX for the EMA8.
Short? Nowhere on that chart are there 4 red blocks lined up. What other criteria are you using?
See where the red arrow is pointing down. That was a short signal at the time (it has "repainted" to blue now after a chart reset). It was a "funny" candlestick with 2 long shadows, one at the top and one at the bottom and the candle finally closed right above the 8EMA. Immediately the signal went long which must have meant the particular price point was a crucial one, so effectively, if the candle had closed one pip higher, it would have been a long signal. Possible the need for a close above/below the 8EMA might be an additional "filter" or eliminate such false signals. I took the long for a few pips, nothing fancy. I'm now trying to work out how I could have got 300 pips today and how to do that in future because too many pips being left on the table. Even with a target of 1.8500 which was my major resistance in the long, the markets gone another 130. Average range is going to be 250+ soon.
Well, how valid would that signal be -- I mean, are you planning on re-setting the chart after every 5 minute bar? I doubt that. So that's not a signal you would have seen. I've had good trades today, but it's been a pretty easy day. I'll try the additional filter of a close above/below the 8 ema. And I agree on the need to find a configuration to capitalize on the pips in this type of market.
I don't post much, simply because there is a alot of "noise" in the postings of threads here. Let's make this very clear, as I use this indicator for my trading method.
These bars do REPAINT.
For the purpose of THIS indicator, we define REPAINTING: The "signal" or color to buy or sell, can and will change before and after the candle has closed. This is done on two levels. One on the CURRENT timeframe, and on the higher timeframe.
From my observations, only the HIGHER TIMEFRAMES repaint after "CURRENT" timeframe candle close. This is the INHERENT nature of highertimeframe BAR like indicators.
DO not USE this indicator SOLELY by itself. Use it as a GUIDE. Use NON-repainting indicators to HELP guide the trade.
I hope this is clear.
Been a easy day yes, but the indic react VERY well in action. Who cares if it repaint afterwhile since its accurate at the moment of the signal.
As it been said, it will change last bar -the red and only last square, if the next bar is fully blue. Witch dosen't affect at all his accuracy at the moment of the trade.
Obviously if your are new to Forex this indic is not for you, but looking at price action in relation whit fib bands or some MA and you will get clear entry. But used blindly, its half suicide. 1 min TF can also help alot to see if the price is going over next fbs band or over all MA. If 1 min dosen't agree = no trade. If not i would suggest 10 EMA, witch react very well over EU.