I just upload a printscreen of the trade.
Will i be able to do a reliable backtest base on this signal?
I would like to know if the indicators will change back to blue boxes after the candle closes. (repaint)
i am using FX_Freedom_Bar_xMODE_MTF.mq4
it will repaint cause Forex Freedom Bars is an MTF indicator; it has 5m, 15m, 30m and 1H TFs so 1H TF for example will repaint until 1H bar close etc.
does that mean 5m(12 bars) 15m(4 bars) 30m(2 bars) will keep repainting red blue red blue until 1h bar closes? or just the 1h bar itself repaints?
if so, where can we determine the close of the 1 hour bar on the indicator?
meaning u cant backtest this indicator?
All mtf indicators like forex freedom bars repaint because they are mtf...
all mtf indicators repaint because they are giving you
current position of longer time frames. So if those
time frames change later..the bar will adjust.
If they dont repaint they are not live, real mtf
They dont keep changing..they only change if the
time frame they are showing changes... so if things
stay long, that block will always be blue. If things
change direction, then it will "repaint" to red.
This can occur anytime until the close of that
time frame it is showing.. ie the 1hr block
can change for up to 12 blocks back on the
5 minute chart. Again its not if it will change
in the future.. the idea is that at the time you
are watching conditions agree across time frames
for your trade.
MTF indicators in general are not good for
back testing as you do not know when the
colors were painted as they show when you
are looking... it will make it look too good.
It doesnt mean it isnt great...but backtesting
is ineffectual at best with mtf indicators...
but really forward testing is the only real
test for all indicators and systems.
If you are using them correctly.. they are great tools!
This is easy to fix. Recode it to work on bar close only. It will not repaint anymore .
About the repaint question , I think the big deal here is to make money, so the right question is : does this indic and method still make money even if it repaint?
And the unique way to have and answer to this question is by building an appropriate EA, to leave it working and to see....
To recode the indic ? this one is too lucky to be logic, I thing somewhere and somehow, it is because it repaint (and because of the strange settings) and so on that it give so good signals...
just keep it like this and give it a real try.
Oh no. Just a simple mod in the code OF ANY mtf would avoid repaint. Problem is almost all indies are coded to loop on every tick. Coders just need to loop on bar close.
Hi,can u give example to mod from every tick to bar close.Sorry for newbi question.
I tests almost from the monday forex freedom
in a setting
TF 5,cci 2
TF 15,cci 2
TF 30,cci 2
I made a list almost all signals BEFORE repaint
results are... not good :]
some average results, gave these setting
with the rule...
four red ---> BUY
four blue --> SELL
and SL ~40,43,50
but this is already the different tale :]
from this what writes on first post....
using of MACD as filter is poor idea
because the whole work does MACD !
equally good can use alone MACD
maybe someone will add DetailedStatement... ?
but then - you respectively 1H behind; 4h, one day behind; scalping and waiting until four hour close .... pisses off all daytraders (they don't like H4 : ))))) ) pretty much same with use open prices
... plus coders wouldn't like to do it - always some jackas would jump-in and: "oh but yours is slow - another one faster (remember like with solar wind)? : )))))))))
there is no solution yet to backtest any ind. (mtf or not) in-between close-close;
1. not repaint - changing values on open bar
2. Linux, don't do that (check post above) - let somebody else to do it (and to enjoy all the complaints, blames and criticism) : )))))))))))))))))