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Mainly those indicators are telling the people to trade or not to trade.
As to me so I am not big fan for exotic colored indicators.
I am still using standard Ichimoku indicator to estimate the market condition.
But it is personal thing.
As I'm new to programming I'm going to look into Ichimoku and see if I can incorporate into an EA I'm attempting to build. I've read many times why use custom filters when these tried and tested indicators work just fine?
Which digital filters did you use beforehand?
Quote:
Originally Posted by el cid
People make all sorts of fancy indicators ,they look great on paper .
Has anyone ever done studies on indicators and their effectiveness or damage they cause to profitabiity?
El Cid
Well I'm fairly new to the FX game so wouldn't have a clue. Word around the forums are if you use history data + indicators it most likely cause damage especially when the feed is of poor quality. ECN Brokers seem to be all the rage at the moment.
As I'm new to programming I'm going to look into Ichimoku and see if I can incorporate into an EA I'm attempting to build. I've read many times why use custom filters when these tried and tested indicators work just fine?
Which digital filters did you use beforehand?
I am using Ichimoku and used digital filters to analyze the market for manual trading. I am doing it every week and trying to do it every day also. It is not for EAs.
But if you want to use something in EAs so it may be different and more simple case. It may be standrd indicators, or it may be AbsoluteStrength indicator, or any other. In elite section we started to do it (i mean to create some codes to use with EA/indicator about trending market, bearish, correction, choppy and so on).
I am using Ichimoku and used digital filters to analyze the market for manual trading. I am doing it every week and trying to do it every day also. It is not for EAs.
But if you want to use something in EAs so it may be different and more simple case. It may be standrd indicators, or it may be AbsoluteStrength indicator, or any other. In elite section we started to do it (i mean to create some codes to use with EA/indicator about trending market, bearish, correction, choppy and so on).
It was seminars and workshops some years ago about Ichimoku indicator in many countries. Not internet seminars. Real ones. So, I tried to summarized everything in 2 or 3 Ichimoku threads on our forum. It was mentioned that Ichimoku indicator must have different settings for M5 timeframe. I don't remember the settings now but the settings was posted on Ichimoku thread on our forum.
I used Ichimoku for M15 timeframe for channel trading and it was fine but a little bit nervous because Ichimoku is re-painting the future cloud, and channel indicators are re-painting, and I used some signal indicator (SHI_SilverTrendsig is re-painting as well) ... more difficult of course but no problem.
From this page Signal systems (ASCTrend and other modification)
to
this one Signal systems (ASCTrend and other modification)
You know ... there is some forex insinuation: the more information we have about the price movement with support/resistance and with everything, the more difficult to trade (the more information, the more difficult to trade).
Last edited by newdigital; 09-25-2007 at 02:28 PM.
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