A magic indicator - Please review and comment

Sunny1

Well-Known Member
#11
come on man.. you are telling we shall discuss about this indicator without even providing any info on this indicator...
what shall we discuss without knowledge about indicator...??
crossover and price movement is of no use to us until we know what indicator does..

plz do post something about this indicator so we can discuss.

Regards...
 
#12
Dear Friends, I guess I could not put my question properly.

Why on earth would I post this image if had no intentions of sharing ?
The only reason why I hid the names is to avoid biasing. We all have preset views about technical indicators. What I wanted to know first is whether a majority of us feel that the indicator is useful. If so, to what extent ? What are the flaws ? I shall also be posting more images later and after a thorough discussion I will definitely share with all of you what it is. Trust me.. there isno secret that I am hiding. Lets have an unbiased opinion first .
Regards.
 
#13
Hi perfecttip,

Any indicator pattern which is seemingly perfect may not at all be perfect for even the same stock over a different periods of time.. You can test the same for a different period for the same stock and test for yourself..

The same indicator if you post for a different stock for the same time period also WILL NOT be perfect as it looks for now..

So, there is no holy grail out there...

The volatility and unperdictiveness does all this..

Can u post the same indicator for five different stocks in NIFTY for the same period for all to see... to verify the above FACT..

JD
 
#15
Hi perfecttip,

Any indicator pattern which is seemingly perfect may not at all be perfect for even the same stock over a different periods of time.. You can test the same for a different period for the same stock and test for yourself..

The same indicator if you post for a different stock for the same time period also WILL NOT be perfect as it looks for now..

So, there is no holy grail out there...

The volatility and unperdictiveness does all this..

Can u post the same indicator for five different stocks in NIFTY for the same period for all to see... to verify the above FACT..

JD

Well, I dont think that I ever claimed that this is a perfect indicator. We all know that nothing like that exists. However, some indicators may be more useful than others. I am posting another image. Check this out.

Technically speaking, we can never know for sure when a stock is going to make a big move, but when it does, we need to capture a big portion of the move. Since a stock's movement is out of our control, cathing a big move early is very important. As we can see from the previous image, the indicator does so ( as per my judgement ). However, like all other indicators, this also gives false signals when it "thinks" that a big move is coming. Often that move does not take place and the signal turns out to be wrong. But the good thing is ( as we can see from this image ) is that it tells us that the move is wrong in an early stage as well, so that the losses are minimum.

Dear members, please share your opinion as to whether you feel the same with this indicator, its faults, benefits and related stuff. And rest assured that I am not trying to hide any secret from anyone. I have posted it here so that we all can benefit. I have intentionally deleted the name of the indicator because we all have a kind of predisposition towards all technical indicators. Lets analyse without knowing who it is. And of sourse I will disclose the name after we understand how well/bad it works.

Regards.

 

TraderRavi

low risk profile
#17
Lots of whipsaw...charts look good at EOD ...no body knows at the right end of a live chart where it goes..:D
 

saivenkat

Well-Known Member
#18
Hello all,

With nothing discussed about what the indicator is, and what is expected of an indicator as a primary function, is its ability to catch the trend early. I tried to draw simple lines to observe, if the purpose is solved, and the observations as far as i can decipher the chart,..i have made is itself quoted in the chart itself.




P.S :

Intraday 5-minute chart, stoch 5,3,3 settings give more or less the same type of entry and exit given here.I tried to do paper trade with the above settings, along with BB(20,2) in MT4 Demo version software that i am having now. Though i used it, but i am not satisfied.:confused:


Regards
Saivenkat.:)
 

saivenkat

Well-Known Member
#19
Lots of whipsaw...charts look good at EOD ...no body knows at the right end of a live chart where it goes..:D

The ulterior motive of this indicator i feel is that, if you see in the LIVE CHART THE FOLLOWING

1) The RED LINE CROSSES THE BLUE LINE IN THE UPWARDS DIRECTION, then Go long.

2) When the RED line crosses the blue line in the downwards direction, THEN GO SHORT.

No other worries need to be accompanied to one while active trading, if this is proved to correct, provided that its grilled with a lot of successful percentage of back tests, with different types of market phase.

Regards
Saivenkat:)
 

Similar threads