No, read the comment in the callout at #6 on the chart carefully.

guys please help me out here, what is the logic behind the z-z1 indicator, is it like the zig zag pointer..TIA

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OK,
so here is my GJ trade from today.
Entered at 233.97 with the nonlagdot red and the QQE crossed.
But then I didn't follow my own rules anymore as I saw the QQE moving slightly up and the second retracement from about the S2 line. So I placed my SL at +80, and that's what I got.
Waiting for the second entry now Probably only next week.

Have a nice weekend all...

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dxtrade04.gif (21.6 KB, 920 views)

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Dxtrade, what indicator makes those yellow arrows on your chart? And do they remain there throughout the life of the chart?

It's the ZigZag Pointer v2 which is from this thread somewhere.
Don't ask me where (1,350 posts ) so I attach it.

It keeps the repainted arrows on the chart. Just the last and good one is bigger.
Makes backtesting possible!

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zigzag-pointerV2.mq4 (4.8 KB, 222 views)

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Happy Trading...

"Failure is only a temporary change in direction to set you straight for your next success."
"Winning is a habit. Unfortunately, so is losing."
"It’s so simple to be wise. Just think of something stupid to say and then don’t say it."

"Say what you mean, but don't say it mean!"

OK, this is exactly what I'm trying to figure out. If this version keeps all the arrows on the chart, it is indeed possible to go back in time and see "false" signals (signals that weren't confirmed by the QQE, for example). In other words, you can see what would have happened to you if you had taken all those signals with and without confirmation.

1) And those arrows haven't moved around or disappeared, is that correct?

2) Have you been able to confirm that the arrows remain where they were originally painted in real time?

3) At what point do the big ZigZag arrows become little ones?

4) If v2 leaves the false signal arrows, what good is the Z-Z1 then (I thought that was the purpose of the Z-Z1)?

The answers to these questions make a very big difference in my conclusions about this, so I appreciate your considerate response.

I'm pretty sure that they stay where they were initially on the chart, I think that was the reason for V2 but I'm not positive. The easiest way to tell would be to put the indicator on a 1m chart and watch for the arrows, every time one appears you could put some text on the chart or draw a line, and see if they move around at all. You should get quite a few on a pair like GBPJPY.

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I should have thought of that. Thanks.

Forex11,

Do you normally wait until the close of a candle after the qqe cross to get into a trade? I notice that the stops can be rather big if you do this. Alternatively, if you don't wait you may get stopped out more for smaller stops.

yes i usually wait until close of candle. and as for my stops i usually have a rather large stop. with the gbp/jpy you have to give it room to breath.