'Market Barometer' indicator

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noushina
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Postby noushina » Sun Aug 01, 2010 2:34 am

andypeters wrote:Thanks but I cant get it to appear in my custom indicator list. I'm not that keen on it anyway but thanks for the thought.
Take another look at the Cluster indicators however as there does seem to be mileage in them and the concept is sound.


well let us know if you sucessfully trade the spaghetti. I sure couldn't

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andypeters
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Postby andypeters » Sun Aug 01, 2010 6:40 am

Yes, repainting is an issue however, 'laggy' is a term which needs definition in the sense that anything which is based on historic data could be considered 'laggy' simply because its based on info from the past. That doesn't mean it can't have predictive value.

andypeters
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Postby andypeters » Sun Aug 01, 2010 6:50 am

noushina wrote:
well let us know if you sucessfully trade the spaghetti. I sure couldn't


I don't use the spaghetti part but have been back testing the 'Complex_Pairs' indi which is based on the spaghetti.

However, what brought me to this point was a search for an MT4-based version of the Barometers at 4xlounge. I've had a lot of success using the Scalping Barometer and was looking for an MT4 version of it. The CC indis are similar but different and as I haven't used 'Complex-Pairs' yet walking forward in the real world, I'll have to wait till next week to see how things pan out.

I've always held the view however that to be a real success at FX you need to be as sneaky as George Soros and build up a circle of insiders as friends and use the info you get from them to trade. He's the only one who seems to have had the crafty forethought to do this. Good on him. Now all I need is to hack into his PC's and shadow his trades.....Anyone know a good hacker ?

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bredin
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Postby bredin » Sun Aug 01, 2010 10:52 pm

andypeters wrote:Yes, repainting is an issue however, 'laggy' is a term which needs definition in the sense that anything which is based on historic data could be considered 'laggy' simply because its based on info from the past. That doesn't mean it can't have predictive value.


the laggyness of an MA indi is based on its period, the bigger the period the more laggy it is. what I mean is the indi responds AFTER price moves. an MA direction might not start to reverse for several bars after price does, to the point that a relativly small retrace can trigger reversal trades just in time for price to resume its original move.....
MACD was invented to try to cover for this very deficiency.
Laggy indis try to give trade signals NOW based on old data, leading indis say what price you should enter when price gets there. Most people are impatient, so choose indis that give NOW trade signals.

As a comparison MOMO (a leading indicator) is apparent immediately the bar closes, and gives a good idea of where to consider entry at a later time.

Furhermore since iMA repaints its not useful until the value does settle...

I have personal experience with MA cross robots that enter on the bar immediatly after the cross, then the MAs repaint (or settle) and there has been no cross, a false entry causing loss in both directions (closing a good trade to open a wrong one)

Cluster indis are an MA cross indi when it boils down to it. Can someone please tell me how knowing that the average price for the last 13 bars being the same as the average price over the last 5 bars can possibly provide a trade signal? Especially when the cross is often caused by MOMO, and knowing that there is often a retrace after MOMO? Knowing that a MA cross delivered to the hands of the pros the classic newbie mistake of either buying after a rise in price into supply or selling after a fall in price into demand?

Crazy stuff....

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TheRumpledOne
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Postby TheRumpledOne » Mon Aug 02, 2010 12:52 am

Hanover wrote a RECENT PRICE indicator:

http://www.forexfactory.com/showthread.php?t=163158
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

Please do NOT PM me with trading or coding questions, post them in a thread.

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Postby andypeters » Mon Aug 02, 2010 10:53 am

bredin, whilst I totally agree with the points you make, there is absolutely nothing wrong with basing future behaviour on old data if that old data has predictive value. There are plenty of examples in science and gambling where this can be shown to be true. Predictive value is more important that the age of the data. In fact I am sure there are plenty of examples where old data can be shown to be of greater value than current data when predicting the immediate future......

andypeters
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Postby andypeters » Mon Aug 02, 2010 12:23 pm

TRO, thanks for the link to Hanover's indicators. This is what I was looking for..

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TygerKrane
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Postby TygerKrane » Mon Aug 02, 2010 3:42 pm

Anyone wanting Hanover's indicators should take note of the note he puts on his forum pages: (and get them sooner rather than later)

Note (May 25, 2010): Please take the opportunity to download this indicator while it's still available for free. I will soon be applying to become a commercial member.

**Krane catches Tyger** !>I'm here to chew bubble gum and make major pips...and I'm all out of bubble gum.<!

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