JTrader
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REGULAR indicators like RSI, ADX, stochastics give a REALISTIC impresson on the historical chart of how the signals will perform in live mode.
All too often now, i have seen CUSTOM indicators, that give the ILLUSION of something special historically, only to fall flat on their fice in live mode.
In my opinion, such indicators, are a con, and a waste of time. They give false hope, by looking like a holy grail historically, but in live mode, you soon see how they fall apart, by deleting signals, that then do not appear on the historical chart.
They tend to -
1) re-paint past bars, hence the indicator does not get you into a trade as early as the historical chart may suggest.
2) Long signals Short signals will appear, then disappear when price reverses against it. This means that the historical chart is left looking neat and tidy and correct, but if you had been trading the indicator signals live, you would have been entering trades, only to see the signals that made you enter those trades disappear.
3) Quite possibly, a candle that appeared with a long signal associated with it, will reverse, the long signal will disappear, and on the historical chart, we will be left with a Short signal above that particular candle.
Indicators by their very nature lag, but Maybe there are a few good custom indicators out there in the FREE public domain, that you have stumbled across on the many trading related websites, that do not fit into the above FALSE IMPRESSION category/s that i describe above. If so please post it here, whether it be a TS8.3, MT4, esignal, Metastock etc. indicator.
Cheers.
All too often now, i have seen CUSTOM indicators, that give the ILLUSION of something special historically, only to fall flat on their fice in live mode.
In my opinion, such indicators, are a con, and a waste of time. They give false hope, by looking like a holy grail historically, but in live mode, you soon see how they fall apart, by deleting signals, that then do not appear on the historical chart.
They tend to -
1) re-paint past bars, hence the indicator does not get you into a trade as early as the historical chart may suggest.
2) Long signals Short signals will appear, then disappear when price reverses against it. This means that the historical chart is left looking neat and tidy and correct, but if you had been trading the indicator signals live, you would have been entering trades, only to see the signals that made you enter those trades disappear.
3) Quite possibly, a candle that appeared with a long signal associated with it, will reverse, the long signal will disappear, and on the historical chart, we will be left with a Short signal above that particular candle.
Indicators by their very nature lag, but Maybe there are a few good custom indicators out there in the FREE public domain, that you have stumbled across on the many trading related websites, that do not fit into the above FALSE IMPRESSION category/s that i describe above. If so please post it here, whether it be a TS8.3, MT4, esignal, Metastock etc. indicator.
Cheers.
