//╭╮╱╱╭╮╭╮╱╱╭╮ //┃╰╮╭╯┃┃┃╱╱┃┃ //╰╮┃┃╭┻╯┣╮╭┫╰━┳╮╭┳━━╮ //╱┃╰╯┃╭╮┃┃┃┃╭╮┃┃┃┃━━┫ //╱╰╮╭┫╰╯┃╰╯┃╰╯┃╰╯┣━━┃ //╱╱╰╯╰━━┻━━┻━━┻━━┻━━╯ //╭━━━┳╮╱╱╱╱╱╱╱╭╮ //┃╭━╮┃┃╱╱╱╱╱╱╱┃┃ //┃┃╱╰┫╰━┳━━┳━╮╭━╮╭━━┫┃ //┃┃╱╭┫╭╮┃╭╮┃╭╮┫╭╮┫┃━┫┃ //┃╰━╯┃┃┃┃╭╮┃┃┃┃┃┃┃┃━┫╰╮ //╰━━━┻╯╰┻╯╰┻╯╰┻╯╰┻━━┻━╯ //━╯ //Vdub FX SniperVX2 Color v2 / Vdub Rejection Spike v3 Full intergration - // ©Vdubus http://www.vdubus.co.uk/ study("Vdub FX SniperVX2 Color v2", overlay=true, shorttitle="Vdub_FX_SniperVX2_Color") //===================Candle body resistance Channel====================// len = 34 src = input(close, title="Candle body resistance Channel") out = sma(src, len) last8h = highest(close, 13) lastl8 = lowest(close, 13) bearish = cross(close,out) == 1 and falling(close, 1) bullish = cross(close,out) == 1 and rising(close, 1) channel2=input(false, title="Bar Channel On/Off") ul2=plot(channel2?last8h:last8h==nz(last8h)?last8h:na, color=black, linewidth=1, style=linebr, title="Candle body resistance level top", offset=0) ll2=plot(channel2?lastl8:lastl8==nz(lastl8)?lastl8:na, color=black, linewidth=1, style=linebr, title="Candle body resistance level bottom", offset=0) fill(ul2, ll2, color=black, transp=90, title="Candle body resistance Channel") //=============================================================// //-------------LB--------------------------- channel=input(false, title="Resistance Channel 2 On/Off") up = close<nz(up) and close>down ? nz(up) : high down = close<nz(up) and close>down ? nz(down) : low ul=plot(channel?up:up==nz(up)?up:na, color=red, linewidth=1, style=linebr, title="Resistance Level top", offset=0) ll=plot(channel?down:down==nz(down)?down:na, color=green, linewidth=1, style=linebr, title="Resistance level bottom", offset=0) // Moddified [RS]Support and Resistance V0 RST = input(title='Support / Resistance length:', type=integer, defval=6) // color zone length RSTT = valuewhen(high >= highest(high, RST), high, 0) RSTB = valuewhen(low <= lowest(low, RST), low, 0) RT2 = plot(RSTT, color=RSTT != RSTT ? na : red, linewidth=1, offset=+0) RB2 = plot(RSTB, color=RSTB != RSTB ? na : green, linewidth=1, offset=0) // //--------------------Trend colour ema------------------------------------------------// src0 = close, len0 = input(13, minval=1, title="EMA 1") ema0 = ema(src0, len0) direction = rising(ema0, 2) ? +1 : falling(ema0, 2) ? -1 : 0 plot_color = direction > 0 ? lime: direction < 0 ? red : na plot(ema0, title="EMA", style=line, linewidth=1, color = plot_color) //--------------------Trend colour ema 2------------------------------------------------// src02 = close, len02 = input(21, minval=1, title="EMA 2") ema02 = ema(src02, len02) direction2 = rising(ema02, 2) ? +1 : falling(ema02, 2) ? -1 : 0 plot_color2 = direction2 > 0 ? lime: direction2 < 0 ? red : na plot(ema02, title="EMA Signal 2", style=line, linewidth=1, color = plot_color2) // //--Modified vyacheslav.shindin-------------------------------------------------// Signal 1 //Configured ema signal output fast = input(5, minval=1, title="Short Signal Generator") slow = input(8, minval=1) vh1 = ema(highest(avg(low, close), fast), 5) vl1 = ema(lowest(avg(high, close), slow), 8) // e_ema1 = ema(close, 1) e_ema2 = ema(e_ema1, 1) e_ema3 = ema(e_ema2, 1) tema = 1 * (e_ema1 - e_ema2) + e_ema3 // e_e1 = ema(close, 8) e_e2 = ema(e_e1, 5) dema = 2 * e_e1 - e_e2 signal = tema > dema ? max(vh1, vl1) : min(vh1, vl1) is_call = tema > dema and signal > low and (signal-signal > signal-signal) is_put = tema < dema and signal < high and (signal-signal > signal-signal) plotshape(is_call and direction > 0 ? 1 : na, title="BUY ARROW", color=green, text="*BUY*", style=shape.arrowup, location=location.belowbar) plotshape(is_put and direction < 0 ? -1 : na, title="SELL ARROW", color=red, text="*SELL*", style=shape.arrowdown) // //Modified - Rajandran R Supertrend----------------------------------------------------- // Signal 2 Factor=input(3, minval=1,maxval = 1000, title="Trend Transition Signal") Pd=input(1, minval=1,maxval = 1000, title="Period") Up=hl2-(Factor*atr(Pd)) Dn=hl2+(Factor*atr(Pd)) TrendUp=close>TrendUp? max(Up,TrendUp) : Up TrendDown=close<TrendDown? min(Dn,TrendDown) : Dn Trend = close > TrendDown ? 1: close< TrendUp? -1: nz(Trend,0) plotarrow(Trend == 1 and Trend == -1 ? Trend : na, title="Up Entry Arrow", colorup=lime, maxheight=1000, minheight=50, transp=85) plotarrow(Trend == -1 and Trend == 1 ? Trend : na, title="Down Entry Arrow", colordown=red, maxheight=1000, minheight=50, transp=85) // //=============Hull MA// show_hma = input(true, title="Display Hull MA Set:") hma_src = input(close, title="Hull MA's Source:") hma_base_length = input(8, minval=1, title="Hull MA's Base Length:") hma_length_scalar = input(5, minval=0, title="Hull MA's Length Scalar:") hullma(src, length)=>wma(2*wma(src, length/2)-wma(src, length), round(sqrt(length))) plot(not show_hma ? na : hullma(hma_src, hma_base_length+hma_length_scalar*6), color=black, linewidth=3, title="Hull MA") //=============================================== // fill(ul2, RT2, color=red, transp=75, title="Fill") fill(ll2, RB2, color=green, transp=75, title="Fill") //////////////////////////////////////////////////////////////////////////////////////////// ////////////////////////////////////////////////////////////////////////////////////////////
could you please clarify:
- what does +2 / +-2 mean in the chart?
- can we consider the signal that appears on the last candle? or it it better to wait for its closure? if we should, why dont you remove the signal from the last/current candle?
- we found out that this system repaints buy/sell signals. Ok, but how many candles (time) do we have to wait before considering signals as definitive? Could you please point out the code where you set this parameter?
There is no tactic here, the script is pretty much 100% retrospective (hindsight).
The "strategy" is supposedly based on rejection spikes a key points of resistance, but this is actually complete nonsense as during testing I noted only 5% of all strong BUY or SELL signals came after or on a rejection spike.
Trading is all about prediction, and what makes this script predicts NOTHING. You might as well plot the BUY and SELL on the graph yourself in real time, it would really be no different at all. Just wait until a candlestick closes, then add BUY if it was green, and SELL if it was red.
To be fair, the script does have some other uses as it attempts to plot resistance points and highs and lows, but there is NO STRATEGY and the BUY / SELL signals should be removed as they are very misleading to newbies. Why are they even there? - to give people hope that they can be profitable in trading by just using a BOT.
This script should very clearly state that the BUY and SELL signals are retrospective and should not be used as indications of what is going to happen next. The only indicators on this scripts are:
1. resistance and support lines
2. high/low swing points
I understand that the script does sometimes TRY to predict BUY or SELL, but it simply makes a guess (which is so inaccurate it might as well be 50/50) and when the guess is wrong (usually is) it just changes the BUY to SELL or vice versa.
You can't "unlike" something here, or even "dislike" it, because they need people to use these scripts to lose money with one of their brokers. The more promising looking the script, the more likely people are to wipe their accounts (and scripts are most likely promoted here based on how much traders lose money when using them). Consider this, if you use a broker with this platform, and you have a script active, and you lose lose lose, bear in mind that all that data is being collected by this platform. A script that causes say 95% of people to lose money means that by promoting it to the top here, more people will use it, more people will lose money. I am not going to explain how that is good for the business model of this platform, as this comment will just be deleted, but anyone with some common business sense will get the general idea =)
I can also say that I have tested hundreds of scripts over the years, but I have yet to see an algorithm that can even produce even 50% reliability consistently.
Trading is part strategy, part money management and part psychology (the patterns actually exist for these very reasons). It is very important to not feel bad about what look like "missed opportunities" and to not regard them as opportunities at all. Unpredictable movements happen all the time in the markets - you DO NOT want to be speculating on those, or you will lose your investment - GUARANTEED.
Bear in mind that 95% of people who trade Forex LOSE. 95%. (The same goes for commodities, futures, stocks etc.)
Some very successful traders use ONLY PA (price action) - in other words candlestick pattern analysis. But if you use that in combination with say 4 types of indicator, then you reduce the number of trades you would take, but increase the chances of success for the trades you do take.
I highly recommend you watch this video: https://www.youtube.com/watch?v=XtVmggQHkrc
And if you do not yet understand candlestick patterns, then this looks like it could be a nice tutorial for that: https://www.youtube.com/watch?v=6pdUGj3x9x4
And this video is also good: https://www.youtube.com/watch?v=QInB6iExaxw
Basically you should try to watch and learn from as many professional traders as possible. That way you can build up a knowledge of what scenarios and patterns to look for to "set up a trade". This means that you notice a pattern and plot at a point in the future where you will look for confirmation of the pattern. If that happens, you then confirm with your chosen indicators, and if even just one of them fails, you do not take the trade. And if the trade does indeed end up going in the direction you expected - no big deal, you didn't LOSE money, and that is the most important thing. You will get less wins trading this way, but you will minimize your losses significantly, so your overall P/L will be healthy.
Money management is also SUPER important. You MUST set daily limits on both profit and loss. You should have a daily profit target, and once you reach it you should stop trading. Likewise, you should have a daily loss limit, and if you reach it you should stop trading for that day. NO trader ever became successful without money management. Do not forget it!
Additionally, there were 7 straight losses in a row.
As for the standard BUY and SELL signals, they are equally 50/50. I noticed you get a slightly higher win loss ratio if you only take SELL signals when the EMA is red, and BUY when it's green, but not much better. And again, 7 false signals in a row is very common.
(I mention the commonality of consecutive losses because most people trading binary options using an indicator like this will be using some form of Martingale system).
I do plan to do more testing with this indicator, because it has a lot of stuff going on, but the BUY/SELL signals on their own are certainly meaningless. The only The only thing that looks to be curiously accurate are the directional projection bars (thick blue bars). However, I have yet to study them in a live trading session to see how they repaint themselves. They probably come and go and are only useful after the fact.