Originally Posted by droesparky

hey bigbear in the above post you said enter when the line and pointer appear.

You do mean on the close of that candle right?

Originally Posted by shohreh

Dear all

seen this thread grow since its day 1 read all of it. And it reminds me of

multiple possibility that exist in this world that can happen in all our lives.

The arrow in our lives can go down or more down or just turn back up.

What determines what happens next? Logically us the choices we make u might ad

Similarly choices in world of ticks, bar charts and time zones in short the financial market is a summation of choices...Now lets imagine there is just one person called as the Entity having a definte choice. This entity would have intention, goal and direction

To study all the above volume and why price has the need to go up or down or sideways would give much insight and also into making a successfull ea.

Happy Trading

Originally Posted by SIMBA

Hi cbrock5000,Guyver

I have read some of your posts and have enjoyed your pertinent comments(both of you)..I understand that what cbrock5000 proposes is just what I did until I realized it was too good to be true..see post 266 in this thread by Guyver(Thanks a lot Guyver,you confirnmed what I already thought but wasn`t sure about..)

Follow The Bouncing Pip

BASICALLY:Visual backtesting of a repainting mtf indicator is misleading when used in tfs different than the one the indicator is presetted at..you only see the last repaint,the complete one,all the intermediate ones are not even hinted at..Try it,do a visual test on H1 tf,the indicator was "forced" at H1,then compare with what you get at M30..Then ask yourself..Where are all the missing signals?..At our broker`s pockets maybe ?

Originally Posted by droesparky

hey bigbear in the above post you said enter when the line and pointer appear.

You do mean on the close of that candle right?

Originally Posted by steinitz

Bear.....

I have been reading your thread since I know that the zigzag indicator can look really good but is extremely limited as far as an indicator goes. The zigzag indicator is helpful to aid in the visualization of Elliott wave patterns and potential turning point in the market.

I have taken the privilege in discussing the potential for an EA using the zigzag indicator with my programmer. He claims it does not work or shall I say is not profitable. However I do have some ideas for this indicator and how it can fit into the design of an EA. Let me offer this to you guys on this thread I'm going to keep an open mind because I see potential in this indicator since it predicts a potential high and low, or in other words extreme points similar to any overbought or oversold indicator and could very well be useful in swing trading.

As you guys mentioned earlier, the key to this indicator is realizing that it will repaint often and will need thorough analysis of what it takes using money management to make sure that you set realistic profit targets that outweigh the multiple small losses.


May I offer you a couple of recommendations:

1. You add a conventional trailing stop that works Pip for Pip.

2. Enter the trade based on confirmation looking at the previous candle's high exceeded by x-number of pips. For short confirmation entries look at the previous candle's low exceeded by x-number of pips.

Good luck!

Don