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Re: No Nonsense Forex - Indicators

225 by xpf2003
Centaur wrote: Fri Feb 10, 2023 7:23 pm Strength Oscillator

Not knowing when a market will trend is the greatest problem for analyst.

Based on the idea that the trend component is stronger when price is father from fair value, and noise (sideways movement) is greater when price is near value, an oscillator can be created to show the strength of the trend component based on this concept.

As the trend increases, the average change in prices becomes larger relative to the high minus the low range for the day.

During an unusual period, when the market gaps open, it would be possible for the difference in prices to become larger than the daily range.

In a sideways market both the change in the prices and daily range will get smaller, but the net price change over a period should be close to zero.

Zero line cross indicator perfect as a C1 or C2 or perhaps and exit indicator.

The oscillator can be smoothed by increasing the signal period, however this introduces some minimal lag in the signal.

An alternative way would be to smooth the output of the indicator with a least squares moving average of about 8 periods.
Dear Centaur,

Is it possible to add a signal line to this indicator, please? You have said in your post that a signal will introduce a delay which I understand. I am thinking a separate signal line will turn this indicator into a 2-line cross which I am thinking of testing next.

Re: No Nonsense Forex - Indicators

227 by josi
xpf2003 wrote: Sun Mar 03, 2024 11:41 pm Monster Breakout Index v2
feedback (but NO criticism...):
there are some good and relevant signals BUT
while I like the idea, I don't quite see the "monster" in this breakout indicator;
as far as I can tell there are a lot of false signals that lead directly to losing trades:
during ranges the signal appears so late that the move is almost at an end (entry too late to make money)
Had you traded all of the signals, you'd probably have lost money...
(compare the simplest alternative, using TLs)
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RodrigoRT7

Re: No Nonsense Forex - Indicators

228 by xpf2003
josi wrote: Mon Mar 04, 2024 12:00 am feedback (but NO criticism...):
there are some good and relevant signals BUT
while I like the idea, I don't quite see the "monster" in this breakout indicator;
as far as I can tell there are a lot of false signals that lead directly to losing trades:
during ranges the signal appears so late that the move is almost at an end (entry too late to make money)
Had you traded all of the signals, you'd have lost money...
Thank you for your comment.

I built the indicator to plug into my NNFX strategy tester to find out how the indicator performs on various length settings as a confirmation indicator. I am yet to do that. I am not expecting this to be a 90% win rate indicator but if this is more than 50% win rate then the plan will be to test this with another C2 or a baseline to see if the win rate can improve.

As far the name goes, I agree with you, there is nothing monster about it. But it would have been misleading if I had changed the name from its original name.
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josi

Re: No Nonsense Forex - Indicators

229 by xpf2003
josi wrote: Mon Mar 04, 2024 12:00 am feedback (but NO criticism...):
there are some good and relevant signals BUT
while I like the idea, I don't quite see the "monster" in this breakout indicator;
as far as I can tell there are a lot of false signals that lead directly to losing trades:
during ranges the signal appears so late that the move is almost at an end (entry too late to make money)
Had you traded all of the signals, you'd probably have lost money...
(compare the simplest alternative, using TLs)
So I have just concluded my testing of this as a confirmation indicator. At certain settings for the length parameter, this does give a 61% NNFX win rate for BM5 pairs over 2018/19 (my worst win rate period for other indicators). On that basis, this qualifies for further testing which I will do.

The indicator I posted originally had a bug in it which I have fixed and uploaded the new version here
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mrtools, josi, RodrigoRT7

DownloadRe: No Nonsense Forex - Indicators

230 by xpf2003
Sensitivity Average with slope

Another TV indicator that looks interesting as a baseline and potentially as an exit if used on a higher sensitivity setting. I am noticing that it can also be used on lower timeframes with a lower sensitivity setting as an additional confirmation indicator to know which direction the trend is going
These users thanked the author xpf2003 for the post (total 4):
josi, thomdel, kvak, RodrigoRT7

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