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After rigorous testing on multiple timeframes, and testing these FX5 Divergence and RSI divergence indicators, I have come to the conclusion that they are crap.
Here is why:
When testing live, as soon as a green UP arrow appears, and I enter a long position, guess what happens? The indicator will disappear. Then after a few seconds it will re-appear. If the price continues to go up, the arrow will re-appear, but if the price goes down, the arrow will not appear.
Put simply, this indicator repaints. So when you backtest, IT IS WORTHLESS.
I don't understand why people bother making indicators that repaint. Such a waste of time.
After rigorous testing on multiple timeframes, and testing these FX5 Divergence and RSI divergence indicators, I have come to the conclusion that they are crap.
Here is why:
When testing live, as soon as a green UP arrow appears, and I enter a long position, guess what happens? The indicator will disappear. Then after a few seconds it will re-appear. If the price continues to go up, the arrow will re-appear, but if the price goes down, the arrow will not appear.
Put simply, this indicator repaints. So when you backtest, IT IS WORTHLESS.
I don't understand why people bother making indicators that repaint. Such a waste of time.
Which version? I haven't noticed V1.5 of FX5 repainting..
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After rigorous testing on multiple timeframes, and testing these FX5 Divergence and RSI divergence indicators, I have come to the conclusion that they are crap.
Here is why:
When testing live, as soon as a green UP arrow appears, and I enter a long position, guess what happens? The indicator will disappear. Then after a few seconds it will re-appear. If the price continues to go up, the arrow will re-appear, but if the price goes down, the arrow will not appear.
Put simply, this indicator repaints. So when you backtest, IT IS WORTHLESS.
I don't understand why people bother making indicators that repaint. Such a waste of time.
Yes, fx_geezer I agree with you. I've done that the same thing and it's such a waste of time. I lost the pips on demo and could not continue to trade with this crap indicator so I gave up until you brought this up.
Which version? I haven't noticed V1.5 of FX5 repainting..
Actually version 1.5 does repaint. Open up any chart on any timeframe. Watch the chart and monitor it closely. You will see an arrow appear, but if the price heads off in the opposite direction, the bar will mysteriously disappear.
It's the same as the FX5 divergence indicator, except the FX5 one uses Osma, whereas the RSI obviously uses RSI to detect divergence.
Again, the RSI one repaints as well.
When a arrow forms above a price candle, wait for the next candle to form. If the arrow remains at the close of that candle then the arrow will not disappear.
Yes true FXBabe, but the problem is, we want to be entering the candle as soon as the arrow appears. Otherwise, if you wait till the next candle, you've probably missed the move.
the way i see it, you're NOT supposed to enter a trade AS SOON as you spot the divergence (i.e., see the signal arrow on your indicator). i trade classical and hidden divergences, and i use both rsi and osma (with stochastic for signal).
i ALWAYS wait for a confirmation, which for me is a candlestick reversal pattern; some people use 5sma for confirmation and enter as soon as price has crossed it AFTER a divergence has occurred.
the point is, if i don't see a reversal pattern, i always stay out.
When a arrow forms above a price candle, wait for the next candle to form. If the arrow remains at the close of that candle then the arrow will not disappear.
Linear Mode
