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Re: What kind of Holy Grail ?

16 by kizerage212
I test Indicators by putting them in an EA but only after visually backtesting to see if it would even be worthwhile and to confirm it isn't repainting. There is a lot of indicators made on this forum from only a few programmers Mr tools, mladen ,etc. But sadly I have not found one that stayed consistently profitable testing in an EA and with good money management, mind you (2% per trade). I just don't get it. People keep saying how amazing all these indicators are (or at least a lot of them) on these forex station forums in the indicators section but then I can't find any consistent profitability by just taking the signals for buy and sell alone. If someone knows of one please PM me and I will test it in an EA. And if price action is needed to pick correct signals then why bother and just use subjective price action instead.

Re: What kind of Holy Grail ?

17 by Ogee
kizerage212 wrote: Tue Apr 06, 2021 8:19 am I test Indicators by putting them in an EA but only after visually backtesting to see if it would even be worthwhile and to confirm it isn't repainting. There is a lot of indicators made on this forum from only a few programmers Mr tools, mladen ,etc. But sadly I have not found one that stayed consistently profitable testing in an EA and with good money management, mind you (2% per trade). I just don't get it. People keep saying how amazing all these indicators are (or at least a lot of them) on these forex station forums in the indicators section but then I can't find any consistent profitability by just taking the signals for buy and sell alone. If someone knows of one please PM me and I will test it in an EA. And if price action is needed to pick correct signals then why bother and just use subjective price action instead.
Hi, taking signals without real time reference to market activity, chart structure, momentum and recognition of where buyers and sellers are actually doing business is never going to work.

So an indicator needs to be read in context and ignored if the market or chart are not conducive. Learning to read charts is more important and is the first skill set needed before adding any indicators.

These skills allow you to anticipate where and when an opportunity is likely to develop, and when you see them, then looking to indicators for confimation will be more rewarding.
These users thanked the author Ogee for the post (total 5):
Hitman, RplusT, Jimmy, ChuChu Rocket, moey_dw

Re: What kind of Holy Grail ?

18 by mlawson71
I was just going to say that. There are some fantastic indicators out there, but no indicator in on itself is a Holy Grail. It's just a tool that the trader uses as part of a strategy in a certain context, to profit at a certain rate. They are not a universal solution.

Re: What kind of Holy Grail ?

19 by mario_lima
Ogee wrote: Tue Apr 06, 2021 8:44 pm Hi, taking signals without real time reference to market activity, chart structure, momentum and recognition of where buyers and sellers are actually doing business is never going to work.
In my opinion this was the best answer and also one of the best posts from Ogee, Finally we agree on something :)
These users thanked the author mario_lima for the post (total 2):
ChuChu Rocket, moey_dw

Re: What kind of Holy Grail ?

20 by pacois
Hi, sorry, in my ignorance, because in metatrader 4/5
allow an editor to make changes to the code to anyone, and make believe that an indicator / or system, can make money alone, and instead should only be allowed to professionals or licensed people, finally all indicators are based on the past, on what has already happened, not about the future, mine is a consideration from an inexperienced person since from a scale of 1 >10 as coder are "1" and trader "0" Thanks.

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