Re: My Indicator reviews and experiences

51
shaileshm wrote: Fri Sep 13, 2019 5:56 am Hello guys,

It has been more than 4 years that I have been learning about trading on MT4. Out of these 4 years I have spent nearly 3 years studying the charts and indicators 24X7 (and that means 24X7 , i had hardly any sleep , no social life and also studying on weekends). Currently I trade binary options and make tutorials on youtube (on non trading stuff).

All this time I had checked on numerous indicators. At this point I believe I am qualified to write my thoughts on some of the best/interesting indicators that I came across. Most of these indicators are free, there are some which are paid (although still very cheap). I might also write about paid indicators unless mods and others have a issue. Although I will not be writing about indicators which I got made for my own. Most of these indicators are suited for binaries and intraday trading.

So thanks for being with me.
This is a great post. Thanks Shaileshm.

What do you think about TDI and SMI indicators?


Re: My Indicator reviews and experiences

52
mello182 wrote: Sat Jul 10, 2021 10:16 am This is a great post. Thanks Shaileshm.

What do you think about TDI and SMI indicators?

I dont use any oscillators (TDI, SMI, MACD or whatever of sorts). I dont see anything there which I cant see from main chart (except for the specrtometer indi i posted before and some tick based oscillators). Plus its makes the charts complicated. I have found over time that brain should not be bombarded with a lot of information when deciding on the trade. Specially so when you are trading short time binary options. So its important that chart has some sort of a minimalistic look while still giving out all the information you need.

Having said that I know people trade spot fx well with those oscilators. So see what works for you. I have checked out TDI in past. I found it slow for binary options.
Know Thy Setup. Know Thyself.

Re: My Indicator reviews and experiences

55
shaileshm wrote: Sat Jun 20, 2020 4:44 am Today we look at the spectrometer indicator by mladen.

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I can simply sum up this review by saying that this is a money making indicator.
To be honest I do not understand why this indicator is not so much popular or people are using it , making money and keeping quiet not to promote it to others. Or maybe its the repainting nature that people dont use it much.

I know there are many people who will cry about repainting and such. But the nature of cycles is such that the indicator has to be a repainting one in order to be of any use. Remember that this is a zero lag indicator. Those with sci/tech background will immediately understand what the indicator does. For others, I can say that it looks for the various short and long term cycles present in the market.

For long time I had a issue with this indicator in flat market conditions but this problem I recently sorted out and after that it has become a part of one of my real trading templates. Just showing some results with 60 sec real money trading.

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If you want to study it please study all aspects of the indicator for a few weeks at least and on live charts. Only then you will understand its weak and strong points.

All the best with this one!
Hey, could you maybe explain how to use this indicator,as I have seen this indicator here the first time, I am a bit lost what I am looking at and how I can use it.
You cannot solve a problem from the same consciousness that created it. You must learn to see the world anew


Re: My Indicator reviews and experiences

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PumbaPLS wrote: Tue Nov 02, 2021 2:36 am Hey, could you maybe explain how to use this indicator,as I have seen this indicator here the first time, I am a bit lost what I am looking at and how I can use it.
Sorry for delay. I have not been on the site too much lately. I have started a new venture with traditional medicines. And already got a couple of COVID oriented products rolling.

Coming back yo your question, I have already explained a bit about the indicator. You should read a bit about fourier transforms. Any signal comprises of a number of frequencies. Once you can detect them, you can extrapolate that into future and predict what the signal will do ahead in time. The reason people struggle with such indicators to make money is the nature of prices in market. New frequencies keep getting produced and older frequencies keep dying away. And to detect these new and old frequencies the tranform needs to wait at least for half a wavelength, and even when you are working on a 1M cycle, these waiting times can go in hours. Tahts the reason people have not been successful with this.

With this spectrometer however you can detect these formation and degeneration of frequencies easily. Look at the individual cycles. If there are moving left or right there are new cycles being formed! When they are fixed then the extrapolator will give correct prediction. But such instances occur rarely. So you wait for all the cucles to align, and observe wether they are going right or left. And you might be able to see something nice. So spend some time and observe.

Anyways I have a new idea with conventional fourier extrapolator which should work and should be easier to use. I will try to do some testing this week and post here if I notice anything interesting.
Know Thy Setup. Know Thyself.

Re: My Indicator reviews and experiences

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shaileshm wrote: Mon Oct 07, 2019 6:58 pm Now in the the next section we will look at some resistance- support and terndlines type of indicators. Technically there is a difference between a resistance and supply-demand level which maybe I will explain later if required. For the time being let us start with this indicator.


Name: Waddah Attar Binary Sup n Res
Author: Ahmad Waddah Attar
Price: free


Mr. Waddah Attar is famous for his explosion indicator. However he has also made some very interesting indicators for resistance levels and the Binary sup n res is one of them. Now I do not claim that this is the best resistance indicator as I have not checked all of them out there. But this a very good one which is suitable for trading on lower time frames. This has no input parameters except for the colour codes for weak and strong levels levels. I do not know the coding principle involved but I can make a guess. All in all I will say that this indicator is worth checking out for people intraday trading and short term binary options.

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Download from: Terminal directly on your MT4


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Today I realized that the indicator is no longer free. It is now available for $30! This is sad. Is it because of the increase in downloads after the review was posted here?
Maybe if someone knows the logic of indicator they can code it and share it here.
Know Thy Setup. Know Thyself.

Re: My Indicator reviews and experiences

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shaileshm wrote: Mon Apr 20, 2020 2:57 am Spreads are something which every pro trader looks at and almost no rookie bothers about. Does this information conveys anything to you?

Today we look at the spread monitoring indicator. This indicator plots the minimum, maximum and the average spread on each candle. Since the spread data needs to be collected in real time, the indicator may not be suitable for higher time frames.

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How to evaluate the spread info?
Think of a situation where you buy a product from a shopkeeper at price X. But the very next moment you decide you dont need the product anymore and want to return it back to the shopkeeper. The shopkeeper however is interested to pay you back only a amount Y. (which will usually be a bit smaller than X). Spread is the difference X-Y

What does the spread aka difference X-Y tells you the market situation of the product? What does it mean when spread is large? What does it mean when spread is small?
Think about the four situations below and what it tells you about the market.
  • large volume small spread
  • large volume large spread
  • small volume small spread
  • small volume small spread
This is known as the volume spread analysis (VSA). When you are convinced about the answers to above situations then maybe you have just started to think like the pros. All the best!
This indicator was one of a kind and was clearly made for a professional. Because market makers widen the spread when a large lot appears on the market. In this way, they reduce their losses, because the market maker is obliged to execute the Forex contract for his own money if there is no counterparty. When watching the spread, you can forget about using volumes, because an increase in the spread makes it much easier to see the appearance of large real volumes.
For me, they once made an addition to this indicator using which you don’t have to keep the main indicator on the chart. The add-on will record the spread readings independently and at any time you can turn on the main indicator and see the entire accumulated history.
Moreover, you can specify in the settings the spread value at which a signal will appear on the chart when the spread exceeds the specified value. The only difficulty is that you cannot change the size of the indicator signal. Maybe someone can fix it?


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