The Unholy Grail System - Intraday Strategy - Page 3

dznmrd · #21 (**permalink**) 09-04-2008, 07:56 AM

Quote:

Originally Posted by Linuxser

Problem is:

when we see indicators like ZZ pointer or Snake on a static picture we assume the turning point is just marked and the inverse move is coming and that will be.

However by two simple reasons, when wee this indicators in action we feel disappointed.
One reason is the code, apart from the fact that the snake code repaints te ZZ code was/is made to TRY to find tops and bottom and by just watch a M5 carts a couple of hours in rush days we detect that the top is not the top and bottom is not the bottom because the last zig zag arm is continuously moving because a new top/bottom was find.

Last, ZZ pointer is just ZZ were the arms where replaced by arrows.

This indicators as been around for near three years and many of us we had plenty of time to test it in early days and discard soon.

Due the recursive ideas trying to implement this buddies and I'm sure it has not been few in tree years, many of us reacts joking, blaming, smiling, joking between partners that had meet long time ago.

whatever...

Hi Linuxuser Mod sir,

Using a repainting indicator on a 5min chart is as good as suicide, but on a 1hour/4hour chart with 60-240 minute long candles... It's repaint (Actually i never noticed the so called 6-7 candles dramatic repaint on the 1hour/4hour as yet,) is actually somewhat profitable,

Regards to the ZZ, i dont use it for reversals or to trade on basis of it, its only used as ideal stoploss for the trade.

Anyways... if its bad just dont use it, if you think it works, test on demo and see the results.

I still using this after reading all the comments, basically using it for entries, although im still not quite good at reading exit signs

vladv · #22 (**permalink**) 09-04-2008, 08:57 AM

Quote:

Originally Posted by prasxz

it's a matter of how to read it , as long as that's a profitable system , why not .
Actually I don't like repaint indicator , but sometimes it's useful combined with others

===================
Forex Indicators Collection

Can I ask you what are those other indicators do you use with repaint indicators?And perhaps some good filters,if you know some.

mladen · #23 (**permalink**) 09-04-2008, 09:33 AM

It is not a question of repainting with some indicators, but a question of calculating. LSMA in color from that pack on post #1 is going to repaint, but it's values are calculated correctly (unlike the snake force indicator)

A line from snake force code (line 193) and the function it calls:

PHP Code:


			
   Snake_Sum_Plus=Snake_Sum_Plus+SnakePrice(Shift-5);

//
//
// this is the called SnakePrice function
//
//

double SnakePrice(int Shift)
{
//   return((2*Close[Shift]+High[Shift]+Low[Shift])/4);
   return(Close[Shift]);
}

Shift-5 means it is looking for price 5 bars in the future. Could you please tell me just one bar in the future what will the price be? I would really be most grateful (after all, when I know that, Buffet would be child's game to reach). Otherwise, if no one knows those prices, you should stop using that indicator.

Values it is calculating are simply meaningless.

Trader83 · #24 (**permalink**) 09-04-2008, 09:35 AM

Collegues, does anybody know if the LSMA_in color indicator repaints?
Thanks.

Linuxser · #25 (**permalink**) 09-04-2008, 04:51 PM

Quote:

Originally Posted by dznmrd

Hi Linuxuser Mod sir,

Using a repainting indicator on a 5min chart is as good as suicide, but on a 1hour/4hour chart with 60-240 minute long candles... It's repaint (Actually i never noticed the so called 6-7 candles dramatic repaint on the 1hour/4hour as yet,) is actually somewhat profitable,

Regards to the ZZ, i dont use it for reversals or to trade on basis of it, its only used as ideal stoploss for the trade.

Anyways... if its bad just dont use it, if you think it works, test on demo and see the results.

I still using this after reading all the comments, basically using it for entries, although im still not quite good at reading exit signs

Famous software is using repainting indicator. EW "predictors" constantly repaints. Every we used eSignal or MTPredictor knows that and still are followed/used by many traders which are prepared to see how the indicator keep moving. Key of these systems are the confirmation indicators.

You could stay in front of your eSignal screen watching how the EW counters keep changing, however the EW oscillator or RSI does not

. That's the key.

dznmrd · #26 (**permalink**) 09-09-2008, 02:37 AM

I found a great workaround to eliminate the fake or moving ZZ, its very simple.

Simply add "Fractals" on the chart and only the zigzag that has a fractal up/down are valid reversals,

Try it on the chart and see, 80-90% accuracy on zigzag pointers!!