Indicators are like playing roulette
Future is re-painting 
Anyway, there is special thread for that https://www.mql5.com/en/forum/172904
By future is repainting you mean that history repeats itself ?
What indicator that calculate the odd and what factors that should be taken account into?
So far we have been another indicator as confirmation for the market movement prediction. We also have to considering some indicator that applied best in trending market or sideways market. It's harrrdddd.... 
As for mine I have been using pivot point, MA and Stochastic. Just a basic indicator. 
Would love to get an indicator that could give better odds. Especially if you could give me the best one. 
I just remember one indicator coded by Tartan and improved by someone: https://www.mql5.com/en/forum/174127
Inside the code I saw:
"Future is not set".
It means: many indicators can predict the future but all the future lines (lines etc drawing to the future) and re-painting.
Not history.
Future.
Indicators which is showing you the support/resistancelines for tomorrow; indicators which is showing you the price for tomorrow by price lines on the chart; and so on.
Future is not set.
Well moving averages don't "repaint" nor does the MACD or stochastic or, come to think of it, the PSAR nor the...... well you get my point.
They simply help in showing elements which your brain (or EA) will recognize as past recurrences and thus, future probabilities. Not certainties, but higher probabilities.
Oh and kenneth 37, there are several ways of posting images, one of the simplest being clicking on "Manage Attachments" below by scrolling down when you're writing a post.
Happy trading,
MP -- dont think youve got it quite right yet !
may i simply interject that FOREX IS NOT RANDOM --- there is no 50/50 contained within as it is constantly proven that one can set a TP for a move and hit that TP each and every time.
Indicators are nothing more than a graphic representation of price movement --- the candles themselves are ONE form of movement (and many schools of thought on using JUST THEM for trading) and indicators are ANOTHER ---- given that forex is NOT random, one can draw certain conclusions from the CORRECT indicators and forward testing inevitably proves those conclusions to be correct.
Forex is a trading instrument that trends BETTER than most any other, and it doesnt like to give up that trend until the price reaches a specific support or resistance point, which is measurable and predictable.
what you see in the market is DIRECTION changes within trends (until the trend is completed, obviously) and these changes come on measurable intraday, intraweek and intra month (yearly also) points that can ALSO be charted with reasonable accuracy.
what prevents most from understanding how it all fits together is LACK OF BOTH KNOWLEDGE AND EXPERIENCE, which is why the pros have got you beaten before you even start, BUT this KNOWLEDGE can be learned if one chooses, and once armed with it, the whole landscape of this game CHANGES
Ive watched traders go from 40% winners (thats 60% LOSERS) TO 80 and 90% WINNERS by simply being instructed as to very obvious situations in the market.
Forex is rather simple, once you get your head looking at it correctly --- that doesnt mean its always EASY, but indeed its simple !
enjoy and trade well
mp
agree on indicators having no chance to predict 100% future... however they do increase the chances ya..
i use my system of 3 SMAs to help increase my odds of buying with the trend..
guess that is as best as it can go..
Mp --- indicators do a whole lot more than you think !
in the standard world of trading, not including voodoo, smoke and mirrors or astrology, there are only two reliable methods of measuring price action -- one is the candles or bars themselves and the other are the indicators, which are NOTHING more than a GRAPHICAL manner of representing the candles movement.
indicators are designed to measure a few different things such as Trend, Cycle strength, overbought and oversold, historic support and resistance, direction and based on these situations, they are also used as a predictive device.
Derivitives, commodities, Forex and Indicis, unlike equities, tend to TREND in ways that lend themselves to extremely positive predictions of support and resistance --- not to say that one can "easily" chart when a price breaks into new ground but if its within "normal" parameters, support and resistance figures along with a few easily understood indicators have proven repeatedly to have an uncanny accuracy, most likely because the banks are operating in exactly the same manner -- they KNOW where resistance lies and they move the price to that point, assuming no grand news comes along to ALTER THE PRESENT TREND.
If news DOES come along, like today with Europe (which reflects a turn away from interest in the dollar and now we should watch the EURO more closely) inevitably it will move the price OUT of the trend, but "normally" it will also RETURN back to trend, because forex doesnt like to go off exploring on its own too often --- todays activity MAY WELL be telling us that all the interest in US news is now switching to the EURO because thats the way the market tends to work -- traders get bored with one thing and move on to the next, and a very short time will tell us if this is the case here !
one can debate this subject forever, but a few well placed trend lines, an indicator that reveals buying and selling, and the experience to use them do more for your bottom line than all the water cooler conversations in the world.
enjoy and trade well
mp
Mp -- my golly, what a foolish statement
oh my golly gosh Igor --- how you do go on, but you dont seem to be correct this time either !
"I PROVE IT TO MYSELF that EVERYONE who believe in INDICATOR is WRONG THINKING person !"
gimme half a break boychick ---- Indicators are correct because EVERYONE is using them and that alone creates a self fulfilling prophecy and more than enough reason to accept them --- do you believe the FIBS (which ARE indicators) to be WRONG ALSO, or Price accumulation, or the CCI --- Pivot Points (which EVERY floor trader uses) are wrong also ?
Maybe you prove you dont understand them to YOURSELF, but there are TONS of traders out there who would laugh at you and your "concept !"
Indicators are a graphic representation of candle movement, and if you can accept Price Action as a valid means of trading, you have to be able to accept indicators, because theyre THE SAME THING, just a line with bumps that represent what the candles themselves are doing !
BACKTESTING has repeatedly been proven to NOT work simply because one can backtest the living daylights out of something, prove beyond a shadow of a doubt that "whatever" is the GREATEST in the world, and when you get to a real life situation, it doesnt work.
How many WONDERFUL EA's are there that produce a years worth of excellent BACKTESTED information, only to fail in forward testing !
whatever may be your reason for NOT liking indicators is fine and dandy, but when the majority of traders USE THEM and PROFIT FROM THEM, its more than a bit dumb to say they dont work.
NOW, i shall wait for your reply, because I know of one way that will silence you forever on this topic, but first i want to hear more of your profound statements that seem to come from mid air !
Please notice that i dont say that price action DOESNT WORK, because it certainly does --- I just happen to be on the other side that likes my lines because THEY CAN TELL ME WHERE A MOVE UP IS GOING TO END, AND THEY DO THAT EVERY SINGLE DAY, EVERY HOUR AND EVERY MINUTE and a candle can only tell you AFTER it closes that you should have taken profitBACK THERE !
Successful traders AINT USING CHICKEN BONES OR OUJI BOARDS IGOR and while you dont like it, you know I speak from experience and MANY pips a day !
THINK THIS CHART MAY SHOW HOW SIMPLE IT REALLY IS, EVEN TO YOU !
enjoy and trade well
mp
Hi Halfasleep,
But that has nothing to do with the fact that indicators will never give you a probability of more then 55% on giving you the right direction.
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
When you play roulette the ball can go Red or Black, there's no way to know ecxactly where it's gonna go. Even if the ball fell 15 times in a row on red, it doesn't mean that the next time there's more chances of it going black, there's alway 50% chances of it going either way. Indicators are based on past history and there's no way to know if the pip is gonna go up or down based on passed history because well, it's in the passed and indicators cannot foresee the future. IMHO indicators are there to calculate the odds of future movement. The trick is to find an indicator that can calculate those odds the best. I'm starting to think that trading forex based on the news would give me better odds and I wonder if people trading forex with indicators or EA ONLY can be are successful or one has to trade using the news as well ?
Please start the discussion