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Vdub FX SniperVX2 Color v2

FX SniperVX2 Color
Fully integrated Rejection spike
Directional coloured rejection zones
Swing Trade Hull ma
Support /Resistance levels
Re configured Pivot zones
Responsive trend directional buy / sell indicator
2 x Trend directional coloured EMA's

Sniper series
Vdub Renko Sniper VX1 v1

Vdub FX SniperVX2 Color v2

Vdub FX SniperVX  v1

Vdub Binary Options SniperVX  v1

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//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[1])?last8h:na, color=black, linewidth=1, style=linebr, title="Candle body resistance level top", offset=0)
ll2=plot(channel2?lastl8:lastl8==nz(lastl8[1])?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[1]) and close>down[1] ? nz(up[1]) : high
down = close<nz(up[1]) and close>down[1] ? nz(down[1]) : low
ul=plot(channel?up:up==nz(up[1])?up:na, color=red, linewidth=1, style=linebr, title="Resistance Level top", offset=0)
ll=plot(channel?down:down==nz(down[1])?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[1] ? na : red, linewidth=1, offset=+0)
RB2 = plot(RSTB, color=RSTB != RSTB[1] ? 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[1] > signal[1]-signal[2])
is_put = tema < dema and signal < high and (signal[1]-signal > signal[2]-signal[1])
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[1]>TrendUp[1]? max(Up,TrendUp[1]) : Up
TrendDown=close[1]<TrendDown[1]? min(Dn,TrendDown[1]) : Dn
Trend = close > TrendDown[1] ? 1: close< TrendUp[1]? -1: nz(Trend[1],0)
plotarrow(Trend == 1 and Trend[1] == -1 ? Trend : na, title="Up Entry Arrow", colorup=lime, maxheight=1000, minheight=50, transp=85)
plotarrow(Trend == -1 and Trend[1] == 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")
////////////////////////////////////////////////////////////////////////////////////////////
////////////////////////////////////////////////////////////////////////////////////////////
We Can't Win Trade 78 - win:32 Loss:46 . Can You Give Me Good Indicators . We Need Please Help me Sir ?
Reply
My hats off to you!!! This is some powerful that has helped my trading drastically. Many thanks for taking the time to share.
+1 Reply
Great strategy, I use it conjunction with Stochastic and CCI and the result is pure magic.
Reply
Could you give some more explanation about how to use this tactic?
Reply
zooduck BjornVdKerkhof
The author never explains how to use this script for choosing "BUY" or "SELL" because this script can't really help you with making that decision. The "BUY" and "SELL" on the chart are meaningless - they are added AFTER the candle has formed (or the MAJORITY of the candle has formed).

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.

Reply
Hello,

Thanks for this reply mate, I'm not using the script anymore, tested it out for a while but it turned out a fail.

Cheers, Bjorn.
Reply
zooduck BjornVdKerkhof
Yes, in my opinion, this script is completely useless for anything other than to tell you what already happened. I can only imagine that the reason it has so many likes is simply that when people first add it, they see all the BUY and SELL are showing on the correct bars, and wanting so desperately to believe they have found the ultimate trading bot they quickly "like" it without even testing it. Next, I would not be surprised if the majority of them go and wipe out their entire account using this script, and then look for another one to replace it.

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.
Reply
iAmChi zooduck
So which type of indicators do you frequently use to predict the market direction? Also, silly question, what do the guys mean on TV when they say "long" and "short?
Reply
zooduck iAmChi
Long and short mean buy and sell - if you buy you are going long, and sell you are going short. No one indicator can be used to predict the market, the only way to get an edge and increase the probability of your "prediction" is to combine multiple indicators of different types, along with candlestick price action analysis. What this means is that you would actually take very few trades (or none at all) some days. It also means you will "miss out" on quite a few big trades that simply could not be predicted with any good accuracy (which means that they are only good trades in hindsight).

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!
+2 Reply
bicmaster zooduck
@zooduck, Thanks for the comment man, I'm still learning, but already have a knowledge that says you saying the truth.;)
Reply
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