Idea: Vertex Reversal Indicator - Good, accurate indicator but it repaints
Hi Mladen and friends,
Just sharing an interesting indicator I've been using to trade reversals on the 15 minute charts called Vertex.
The reversals are pretty spot on so far but the "TMA bands" repaint.
I think there's a lot of potential in this indicator, it just needs some polishing up.
Mladen, can we have a non-repainting version please?
Or perhaps you can experiment with it? I know you can turn this into something good mate.
Please try it out.
Hi Mladen were you able to check yet? Cheers.
Dimi
That indicator is suing a line like this (for a counter)
bar_cont = bar_shft - Period();It is "confusing" bar counter with something completely else. One of the cases when the code makes no sense at ll
Dimi
That indicator is suing a line like this (for a counter)
It is "confusing" bar counter with something completely else. One of the cases when the code makes no sense at ll
Ah that's a shame. So it's pretty much a useless indicator aye?
Yes this indicator repaints, but combined with trend-wave indicator and drake-delay stochastic it becomes a very good indicator. It saved me twice since the first post of this tread.
I would like to point out one thing about repainting indicators (that is less known) ...
In times of very low volatility (and markets this week are anything but "highly volatile" - EURUSD is in a range of less than 100 pips this week) they are "working". They are "working" for one reason, and one reason only : because the false signals are reverted (as it is only natural in a tightly ranging market conditions). So, in conditions like that, they are acting the same as coin toss and are having the same results : coin toss will get the same results as repainting indicators simply because of the bouncing up and down of the price(s)
It slightly reminds me of the EA that was "famous" (the FAP-Turbo) : that EA was made to trade EURCHF and was made to "scalp". The thing that all the people were neglecting is that in the time it was "successful" EURCHF was so controlled by the SNB, that interventions for any pip above or bellow the desired levels was done on daily basis and that even random entries that were expecting a move a couple of pips up or down were doing the same as that EA. And while people were "woowing" the EA work, the brokers simply increased the spread, and by that (by a simple spread increasing) that EA died. So much about the validity of the scalping ways of that EA
The moral of this "story" : use repainting indicators if you feel that they help you. But do not attribute any value to them before you estimate the market conditions and what exactly happened to the "signals" that repainting indicators were signaling . That indicator is trying to combine things that are, code-wise, just showing that someone does not know what a Period() does in mql - not that there is an intention to code something. That indicator is randomness-at-work and one should never forget that
I would like to point out one thing about repainting indicators (that is less known) ...
In times of very low volatility (and markets this week are anything but "highly volatile" - EURUSD is in a range of less than 100 pips this week) they are "working". They are "working" for one reason, and one reason only : because the false signals are reverted (as it is only natural in a tightly ranging market conditions). So, in conditions like that, they are acting the same as coin toss and are having the same results : coin toss will get the same results as repainting indicators simply because of the bouncing up and down of the price(s)
It slightly reminds me of the EA that was "famous" (the FAP-Turbo) : that EA was made to trade EURCHF and was made to "scalp". The thing that all the people were neglecting is that in the time it was "successful" EURCHF was so controlled by the SNB, that interventions for any pip above or bellow the desired levels was done on daily basis and that even random entries that were expecting a move a couple of pips up or down were doing the same as that EA. And while people were "woowing" the EA work, the brokers simply increased the spread, and by that (by a simple spread increasing) that EA died. So much about the validity of the scalping ways of that EA
The moral of this "story" : use repainting indicators if you feel that they help you. But do not attribute any value to them before you estimate the market conditions and what exactly happened to the "signals" that repainting indicators were signaling . That indicator is trying to combine things that are, code-wise, just showing that someone does not know what a Period() does in mql - not that there is an intention to code something. That indicator is randomness-at-work and one should never forget that
Yes this indicator repaints, but combined with trend-wave indicator and drake-delay stochastic it becomes a very good indicator. It saved me twice since the first post of this tread.
I agree and i will remember the point. However it would be great if MT4 or MT5 could have an option to refresh the screen automatically every 60 seconds or so don't you think?
Why?
That type of refreshing is needed only for wrongly coded stuff (that does not calculate as it should). No need to change anything in mt4 or mt5. The coders of the things that are not working correctly should correct what they did wrong
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Hi Mladen and friends,
Just sharing an interesting indicator I've been using to trade reversals on the 15 minute charts called Vertex.
The reversals are pretty spot on so far but the "TMA bands" repaint.
I think there's a lot of potential in this indicator, it just needs some polishing up.
Mladen, can we have a non-repainting version please?
Or perhaps you can experiment with it? I know you can turn this into something good mate.
Please try it out.