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Originally Posted by mobiyus
I just put in my tf 15m , the output like below,
pls tell/ help me how to read it???
i really hope someone help me ...i m newbie
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It's very "easy".
Well.
Filters.
I see Fisher, RSI Filter, MACD, I-XO-A-H, PCCI and Stochastic.
they are filters.
1. I-XO-A-H.
This indicator may be used to estimate the tendency of the day or half a day.
Red is for sell (sell orders are allowed and buy orders are prohibited).
2. MACD.
It is the most reliable filter in this template. Do you see red signal line? If the signal line is below zero and coming down (for sell) but the silver sticks are coming down more quickly so we have "a delta" between signal line and silver sticks. It is most stronger sell signal. This "delta" may be very small one but always visible. Opposite for buy.
3. RSI Filter.
You are using PeriodRSI=14. This indicator is very sensitive so I suggest you to adjust this PeriodRSI every ween for every pair trading based on previous week. It may be 14 or 9, or any. Below zero is for sell, opposite for buy.
4. PCCI.
Usually sell or buy confirmation (not signal! because we are talking about the filters now) are coming first (PCCI is below zero for sell, above zero is for buy). What does it mean? It mean "be ready". You should say: 'alwayd ready!" and start to look a the other indicators and filters.
5. Stochastic.
It is "historical Stochastic". What does it mean? It means that this indicator is not painting the past (as all above mentioned) but it is not good really. Why? Ok. Stochastic came down it means downtrend. Came down up to zero value. So what next? The next may be the following: reversal to uptrend, or breakout of some price value and cootinuing to go short (to the downtrend). So this indicator is not showing us the current market situation. It shows the past situation. I am seriously thinking to create some Stochastic which will be paint the past but may be good to have the current market situation. So don't use this Stochastic blindly.
6. Fisher.
I am not really sure that we need it in our M15 template. Just to know that we may use it. Because we have long-term filter (I-XO-A-H), short term filter (RSI Filter). Fisher is medium-term filter. Long-term, shour-term do not mean downtrend or uptrend. It means just tendency of the day/hour/minutes/ in past.
Please note that no one indicator is telling you the future. "Future is not set"

For example the filters are telling you the situation in the market when
was before you attach this template. It is not decision making indicators. This indicators may help you to reduce the risk. Risk as concept, as common sense. To increase the riks (and to get more profitable orders if you are experienced enough) you need to eliminate using the filters, or to change the settings. I am suggesting to change the settings of the filters every week looking on the previous week and adjust the settings to the more profitable ones. For example: RSI Filter inficator (it may be PeriodRSI = 14 or 9 for example).