Suggestion Contribution to this forum from me (Non-repaint very good signal indicator)

This is my review for this thread:
Buen indicador, gracias

 

This is my review for this thread:
yaehh awesome

 

Greetings to all. I see many requests for this indicator...

Here is the MQ4 file, I have converted it to English and added "Push" notifications.

Enjoy!
RM

 

J

Ow can i join you sir?

 

hello, does it repaint or redraw signals? did you test it on mt4 strategy tester?
tnx

 

Hi...Bobten...its very interesting indicator...i have tried it but sometimes the signal didn't no show up until we reattach the indi again ?? do you have any solution bout this ?? thanks.

 

A question for Retireme - I know nothing about coding - but I have been doing a lot of head scratching on this NRP indicator - most MTF indicators can only make an up or down arrow print after the higher time frame bar closes, in this case 4H, thus the arrow would always show up 16 bars back of the current bar on a 15M chart. However, I have ran it side by side other types of RSI/MA/MTF indicators and it would appear that the NRP prints an arrow immediately after the new higher time frame bar opens rather than waiting the 4 hours for it to close, is that what you see when you look inside the code? However, in strategy tester it seems to do a combination of the two thus impossible to get a grip on. Also impossible to reliably craft an EA from it.

It certainly has other troubles wherein it will print double or even triple arrows all in a row and sometimes back paint candles where there were none before. Do you think it's possible to tame all of the unwanted tendencies in the code? For that matter do you think you can build one from scratch which only takes it's arrow command function from the positions of the MA and the RSI within the first few seconds of the opening of each 4 hour candle. If the position is still in the same direction as the last arrow it does nothing until the position reverses in a future 4H bar.

Just askin'.

 

Hi aechon,

Firstly, the indicator is not mine nor is it one that I use. From my perspective the indicator is flawed from both a coders point of view and a users. Someone requested to add alerts and I had a little time to play with it. There are far better indicators that do the same thing but in a more structured way. I will take another look at the code as soon as I have some time but make no promises. I am guessing that the calculation is based on OPEN candle or CLOSE of the previous, which in itself a dangerous thing when we are talking about RSI.

Rgds
RM

 

Hello RM,

Many thanks for your quick and educated reply. Well, I have to say that I am attracted to the logic of the indicator - would you be willing to share the indicators that you know to operate in the same way although better structured? This would be greatly appreciated. As to the NRP it would seem better to create ones own - should one know how, which I do not. First time for everything I suppose, but having one or two that operate properly to learn from would be a great start.

Many thanks for your time RM.

Best,
Aechon

 

Check your PM and we will go from there...

 

Let me see if I can help and add a bit of clarity. Remember “All that glisters is not gold”.

In a nutshell this indicator is simply a RSI and a moving average of that RSI. Nothing more. When the RSI touches (not crosses) the MA it gives an arrow. If the RSI then retraces away from the MA the arrow stays but off course the signal is not valid (hence NRP). If it touches again, another signal. That is why you can get multiple arrows.

When you run it on the strategy tester it des not show all the times it touched and then retraced that is why it looks so good. But as we know, looks are deceiving. If you want to trade in this way, it would be much easier and safer to take the RSI of the 4hr chart and add the MA to the indicator (previous indicators data) and use that instead. Now when it touches or crosses you can see clearly and much more importantly when it touches and then retraces.

Either way you certainly need a confirmation of the signal. I might just add that although in this case its the RSI, you can do this with anything from Stochastic to CCI or Moving average crosses. Some of these are better. Nonetheless as RM says, there are better ways to trade.

You will however never get away from the fact that until the higher TF closes, the signal is not fixed and can and often does change.

Hope this helps and good luck.

 

This is my review for this thread:
Good Indicator

 

do you have the mq4 file of the NRP indicator?

 

Some heart attack from me

 

Hmm, I did tell you that it is flawed... totally unreliable unless on a TF that just ignore news.... e.g. daily, weekly, monthly

RM

 

Follow me on the other where i post signals... Also put or add on ur chart EMA 50, 200, 800 and try to observe chart on H1 for direction M15 for entry, H4 or D1 for main support n resistance area...

 

Yes but i nebver said to use naked chart... Flawless or no read my posts in all tread, U need to have some basic or good knwloedge of price action and use osme indicators like RSI or TDI , some EMA's... but in the other posts i stated best to all traders is really to learn price action. In private mesage i even give to those who aked me what to try to learn best.. N i said Steve Nison is good mentor n trader, search his books n courses ... Try also learn the Forex Mentor. That guy is goodhe show how to use fibonacci and how to search for Harmonics, He is really good in that nice course. I suggest to all which follwo my tread to try those courses. They will teaach u alos about Where is possible reversla area or key area... Try it guys ... take time n learn dont go around and use systems only cos there is not perffect system wihtout if u dont use price action knowledge.. I stated that before and i say it now again...

 

I do not doubt your best intentions and much of what you say makes sense - ie price action. BUT and its a big but this really is not a good indicator. It looks like it in hindsight but not in realtime. If you look at the code its simply the RSI and a moving average thereof on a higher TF. The problem is not that it gives false signals but when the RSI touches (not crosses but touches) the MA it gives a signal, then if it retraces you get no signal because it has not retouched. I repeat again, all indicators based on a higher TF, will either repaint, backpaint or in this case no paint until the higher TF closes. You cannot get away from that however hard you try.

 

Bobten, no disrespect but if you think NRP is a good indicator, you really need a reality check... regardless of what lagging indicator you use, you are on a hiding to nothing! What you do is no concern to me and your reference to me to learn price action makes me laugh. The only real way to trade is exactly by Naked Charts... nothing more required.

Good luck with all your lagging EMA, SMA, SMMA & LWMA's... do you really think that Forex is random?

Rgds
RM

 

If u sitll think im wrong and u think price aciton is nothign then tel me what according u is price action? and what is naked charts??? Let me tell u in short, price action is analsit the price yes patterns S/R and that can be done on naked chart. I dont get it what if according u price action n what is naked chart.. hence u laugh on price action u say its stupid ..?? N yes its good on price action to put some indicators like RSI n some EMA to confirm some stuffs. If u think im wrong check my tread i started for signals last week till today and see my results.. I show results, also i had 3 yrs ago contest 1 month duration more than 90% winning positions 5th place i won. I have proofs in live .. how about U? only talking??? denying? Well also no disrsepect to u but u need to more to understnad what is price action wht is naked chart... I dont reply anymore onr ur nonsese posts