The indicator I have leaves the arrows of the zigzag pointer indicator (or sell and buy signals) on the chart even after re-painting.
They are placed on the chart in dots so they would not confuse with the arrows that do re-paint.
You can nicely see that a new dot is placed everytime price makes a new high (according what a zigzag indicatore does).

As you can see I took a piece of data on the gbpjpy 60min as BB sugested.
Before the final correct sell arrow was given there were 49 (fourthy nine!!!) false trades or re-painted trades.
How can you ever explaines to yourself that you have 49 false trades before you catch the correct one ?!....
Same problem over some periods on the eurjpy and on the 4hour time frames.

So I realy don't understand that some people go wild over this "system"...
The author of this topic says in posting #4: repaints = loss. If it doesn't it = big win.
It is like other systems here on this forum. If it goes good you realy earn good money. But if it goes bad you burn your account in no time...

Again the same issue as on other topics: ask the author or people who CLAIM they make big profits with this system to SHOW PROOF with there account statements over a longer period of time (and don't get exited over a few days profit). I'm pretty shure that they will pretend they didn't hear or read your request.

friendly regards...iGoR

PS. What I also don't understand is that so many people get attempted to look to re-painting indicators ?...
If one would stick to non-repainting indicators your trading lives would be "easier"...(that doesn't mean that automaticly you wil earn money--but it will save you a lot of frustrations).
Fact is that the re-painting indicators look a lot nicer on your chart...but that is "scamming" yourselfs...

PS2 Backtest produced with the help of re-painting indicators are NEVER to be trusted . Even not a little bit!

Attached Images

49 errors on bouncing pip.gif (63.3 KB, 789 views)

__________________
Succes comes with knowledge. Knowledge comes with experience. Experience comes with time and hard work... (iGoR)
Price moves in a 100% random way so build yourself a system that is not affected by trend or consolidation...(iGoR)

Hi Forex 11

So far I can only see a red arrow on 30m G/J chart. Is this what you will be basing your G/J sell position on? Or will you wait for 1h and 4h arrows to confirm sell?

Zimmer

Are the dots where the arrows AND the zigzag lines touch? They don't always touch, and that's the signal.

__________________
He who laughs last thinks slowest

I have a signal on the 1hr chart

One must keep in mind that what he is showing on his graph of dots is where the zigzag had redrawn itself to that point before moving on to the next higher or lower peak.

Dave

I'm using divergences on a lower timeframe to enter the trade. But this time the 15-min G/J shows a signal. The G/J 1-hour shows that RSI has a hidden/reverse divergence with price. I'm taking the trade (off the 15-min)... with a trailing stop of 35 pips. Hopefully its a quick trade. It seems to be moving pretty fast.

Carl

That's interesting. I don't have a pointer signal yet. I'm using the zigzag pointer mail version on ibfx.

But anyway, Forex11, given that there is a signal happening now on GBPJPY, can you describe what sort of confirmations will you be looking for to make an short entry here? What is it about this current signal that would make you feel confident that this is indeed a reversal?

Cheers,
Matt

Disregard...........

I also use the money flow index with levels 20 and 80 when the signal showed up the mfi was at 80

i was looking at the 30min chart. sorry

but right now i am up 30 pips.