The holy grail is repainting, but don't use it as a point for entry - Trading Systems

Mladen Rakic 2012.05.14 03:16 #1921

...

I think it was said already but the fact is that "v8oscillator" == "solar wind" (some more info about it here : https://www.mql5.com/en/forum/179650 )

patriotstef:
I'm not sure what the SSA indicator happens to be from this thread, but was this the oscillator you were referring to?

xps_v8_oscillator.mq4

Now I noticed someone asked if this indicator repaints... let me put it to you this way (and this is to all who want to know)... if you have an indicator and it just keeps making perfect signals to the point where you've lost nothing looking back on the charts for hours, days, weeks, etc., then yes, the indicator either repaints or it deletes off signals/arrows that told you to buy/sell at XYZ point on the chart a few candles or bars back where only the good arrows/signals remain intact.

What some of these indicators will do is, they'll trick you into thinking that everything was legit if you use LFH trading simulator to see it in action... but then in reality, you find it doing things that LFH didn't seem to know how to display when you go live with them.

I admit that I have not had any experience so far with this V8 Oscillator indicator, but I am too reminded of THIS OTHER indicator when I look at how this V8 thing worked:

vq.mq4

If you take this VQ indicator and set the settings to 1440 minutes (daily) and place it on the 4 hour chart of any currency pair, you'd think the holy grail was revealed. LFH trading simulator will show you that the arrows don't technically repaint the past, but won't show you that certain arrows that told you to buy or sell will be deleted in the past if they do not comply with whatever the market prices have now decided to do. I am almost positive this V8 indicator will do the same thing... however if anyone can disprove me on this one, then let them do so and I'll shut up.

I'm only trying to warn people when it comes to forex indicators that seem too good to be true. If it looks like it is, then it DEFINITELY is. Human beings control the markets and it's all based on economic status, new reports, etc. How in the world is an indicator using math going to decipher all that by itself (or any combination of indicators as well), let alone an indi that contains only 5-20kb in the program??

I just don't want people to fall down the same mine shaft that I have when it comes to these things. I've been at forex for four years now... I haven't made one single nickel that I could hold on to before it all got lost due to the market's "surprise attacks" that go exactly the opposite route in spite of what your analysis told you. Risk to reward ratios, MAs, MACDs, price action patterns, trading the news, etc. you name it, I've tried it... and ALL of it failed in the long run. I only have a $200 account, so even if I did manage 50-100 pips per month consistently, that's enough to buy me a combo meal at McDonald's... hardly anything that I could make a living doing.

So please be careful when it comes to these "magical" indicators, or these systems using combinations of indis, that seem like it's as easy as buy on the blue arrow/sell on the red arrow and you'll be rich in less than a year. You might make hundreds of pips the first month, but you'll probably lose all of it and more the next time. Like I said, I've been at this for four years and I know what I'm talking about.

Just my two cents.

PS

FastDriver 2012.05.14 05:05 #1922

patriotstef:
I'm not sure what the SSA indicator happens to be from this thread, but was this the oscillator you were referring to?

xps_v8_oscillator.mq4

Now I noticed someone asked if this indicator repaints... let me put it to you this way (and this is to all who want to know)... if you have an indicator and it just keeps making perfect signals to the point where you've lost nothing looking back on the charts for hours, days, weeks, etc., then yes, the indicator either repaints or it deletes off signals/arrows that told you to buy/sell at XYZ point on the chart a few candles or bars back where only the good arrows/signals remain intact.

What some of these indicators will do is, they'll trick you into thinking that everything was legit if you use LFH trading simulator to see it in action... but then in reality, you find it doing things that LFH didn't seem to know how to display when you go live with them.

I admit that I have not had any experience so far with this V8 Oscillator indicator, but I am too reminded of THIS OTHER indicator when I look at how this V8 thing worked:

vq.mq4

If you take this VQ indicator and set the settings to 1440 minutes (daily) and place it on the 4 hour chart of any currency pair, you'd think the holy grail was revealed. LFH trading simulator will show you that the arrows don't technically repaint the past, but won't show you that certain arrows that told you to buy or sell will be deleted in the past if they do not comply with whatever the market prices have now decided to do. I am almost positive this V8 indicator will do the same thing... however if anyone can disprove me on this one, then let them do so and I'll shut up.

I'm only trying to warn people when it comes to forex indicators that seem too good to be true. If it looks like it is, then it DEFINITELY is. Human beings control the markets and it's all based on economic status, new reports, etc. How in the world is an indicator using math going to decipher all that by itself (or any combination of indicators as well), let alone an indi that contains only 5-20kb in the program??

I just don't want people to fall down the same mine shaft that I have when it comes to these things. I've been at forex for four years now... I haven't made one single nickel that I could hold on to before it all got lost due to the market's "surprise attacks" that go exactly the opposite route in spite of what your analysis told you. Risk to reward ratios, MAs, MACDs, price action patterns, trading the news, etc. you name it, I've tried it... and ALL of it failed in the long run. I only have a $200 account, so even if I did manage 50-100 pips per month consistently, that's enough to buy me a combo meal at McDonald's... hardly anything that I could make a living doing.

So please be careful when it comes to these "magical" indicators, or these systems using combinations of indis, that seem like it's as easy as buy on the blue arrow/sell on the red arrow and you'll be rich in less than a year. You might make hundreds of pips the first month, but you'll probably lose all of it and more the next time. Like I said, I've been at this for four years and I know what I'm talking about.

Just my two cents.

PS

I have been testing this oscillator and I can confirm that it repaints. I don't know how many bars it can repaint, but it definitely repaints. Like you say, all indicators that look like the holy grail are repainting. Don't use them as a point for entry, just use them as a confirmation when PA or other non-repainting indicators tell you to enter.

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[Deleted] 2012.05.14 11:10 #1923

FastDriver:
I have been testing this oscillator and I can confirm that it repaints. I don't know how many bars it can repaint, but it definitely repaints. Like you say, all indicators that look like the holy grail are repainting. Don't use them as a point for entry, just use them as a confirmation when PA or other non-repainting indicators tell you to enter.

Whomever invented repainting indicators should be drug out into the street and shot. Nobody take that literally, it's just that to go blowing away someone's hopes for substantial money in this day and age of recession and unemployment when someone doesn't know how the markets operate and then see this amazing tool that gives them all the money that can be had just by looking back on the charts..........

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stepza704 2012.05.16 08:45 #1924

Thanks man

[Deleted] 2012.05.16 13:19 #1925

Sure, Noobee. See here's what we really need to do, and I have a whole thread that I started here on forex-tsd.com to hopefully shed some light on this subject (if there happens to be any):

https://www.mql5.com/en/forum/181304

Forget about indicators, forget about EAs, forget about price action...... what causes price index points to go up or down in the first place?? I want to know EVERYTHING involved in what makes price move from start to finish as the thread I posted asks. Any and all who have data that can be of value to the question presented in that thread, please do not hesitate to post what you want... ALL are welcome to contribute. If we're going to make any serious money on any market, we need to know what is going on from the beginning - ALL pertinent data, no matter how much has to be looked at.

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