2020 MT4 MOTHERLODE

[baddog4x]

The left side shows which 1h candle, starting with the current 1h candle, that corresponds with the range on the right. Range being High minus Low.

i am sorry, i dont quite understand what that means.. do these numbers tell me anything about how to trade? should i buy or sell?

tro.1.png (1.92 KiB) Viewed 3574 times

[BambinoFlex]

I think it's telling you to stay out of trading. Based on the last 3 candles having a range less than 10 pips. If you're asking for a system, this indicator is better used as part of a system, not the system itself. This can be the wheels of a car, but you still need the motor, the axle, fuel, etc... to make the car go backwards or forward.

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If you're a scalper though, maybe a 6 pip hourly range is sufficient. If that's the case, then you would still need entry ideas, stop loss ideas etc...

[baddog4x]

This can be the wheels of a car, but you still need the motor, the axle, fuel, etc... to make the car go backwards or forward. If you're a scalper though, maybe a 6 pip hourly range is sufficient. If that's the case, then you would still need entry ideas, stop loss ideas etc...

the function of a thermometer is to tell you what the current temperature is. if it cant do this, it isnt a thermometer.

the function of an indicator is to calculate what the current bias is, up or down. if it cant do this, it isnt an indicator.

[BambinoFlex]

Good luck using a single indicator for bias. The thermometer can tell you the temperature but the decision to put on a coat is up to you.

By the way, this thermometer is telling you it's hot (red), but maybe a cold front is coming. Who knows, I'm not a weatherman

[TheRumpledOne]

The left side shows which 1h candle, starting with the current 1h candle, that corresponds with the range on the right. Range being High minus Low.

i am sorry, i dont quite understand what that means.. do these numbers tell me anything about how to trade? should i buy or sell?

tro.1.png

It tells you the range (H-L).

[baddog4x]

It tells you the range (H-L).

[TheRumpledOne]

TRO001.png

Updated 3 Level ZZ Semafor indicator attached.

SemRng is the range, in pips, between the most recent upper and lower semafor. If range is small, look for breakouts instead of reversals.

Dist is the distance, in pips, between the current price and most recent semafor.

Is there a setting for SemRng in the FreqDist or in the new 2022 indicators? To see the average swing length. I found this site a few months ago, and went back to it this week.

https://algotrading-investment.com/2020 ... y-trading/

If you click on the market prediction link you'll see something similar to SemRng. They use price and a time element.

No. Don't have SemRng.

[baddog4x]

Good luck using a single indicator for bias.

the ONLY goal of an algo developer is to produce a program that calculates the bias and preferrably calculates the precise target price.

if an indicator can not determine the bias of an instrument, it is worthless.

this is a very difficult game, this is a game that is almost impossible to win.

this is why so many people turn it into a scam where they try to sell worthless software to unsuspecting newbies.

[BambinoFlex]

If that is what you wish to believe, let it be so. As the saying goes, you can take a horse to water, but can't make him drink.

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[BambinoFlex]

Your the horse. Kreslik is the water. The horse is thirsty but doesn’t want to drink from the stream because it’s a fancy horse with a fancy history. It’s still a horse…and it’s still thirsty.

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You’re free to your opinion. Your questions were answered and you made a bold claim that doesn’t require any more of my energy or attention. If you have any other trading questions, I’ll be happy to help in what I can.