Conor Mcnamara / Profil

xauusd is no longer for trading, it's a casino now, it looks like there will soon be a new normal

It's fascinating how different engineering backgrounds can shape someone's perspective on market behaviour.Wilder, the person who created the Parabolic sar - had a background in mechanical engineering and he viewed markets as a vehicle that drive with prices. John Ehlers, the person who created interesting smoother non lagging moving averages had a background in Electrical Engineering, and he viewed market prices as electrical signals.

Code publié PSAR Zigzag (Non lagging)

A zigzag sharper than your ex’s mood swings.
A zigzag that made hedge funds jealous and your neighbor reconsider Forex.
A zigzag that would make your granny yell ‘BUY!’

It's a zigzag coming soon to a codebase near you...

last night I was building a zigzag which is non lagging and continuous to the current bar. It's not so obvious to make this work correctly. The zigzag drawing should maintain straight legs, but if you don't delete previous leg values when new highs and lows come, then it will turn into a line chart... I have it working now and I base the zigzag trend this time on psar which is non lagging

Code publié Ranging Market Detector

I built a non lagging ranging market detector

Code publié Trend Zigzag (on ma cross)

https://soundcloud.com/jonathanlesnick/oceanlab-vs-reflekt-sky-falls this is a wonderous mashup

I built a zigzag which connects the legs from two moving average crossover points. It's nothing to do with traditional zigzag and is fully about trend of the ma cross. It's more difficult than one may realize to make this good without noisy crossovers ruining the cycle. Moving averages are victim to market noise as you know, especially on short periods. The vertices also should also follow the cycle of LL - HL - LH - HH in sequence for each connecting leg to be in harmony. Invalid legs are inevitable in this one, and I colour them gray

At some point you have a folder full of random indicators. I try to organize it like this in MetaEditor, and in turn, this also organizes the indicators in the software. It's a bit of work, but it's very annoying to have random indicators all within the examples folder

Making a channel between zigzag points is easy, just map the peak and bottom zigzag buffers to two individual "draw_section" drawing styles

It's disheartening to see an EA scalping configuration working well on the OHLC model, but going to zero on real ticks model. I tried to discover the exact reasons. Initially I thought that the live floating spread and slippage are an issue, but this is actually not the issue. Live bid and ask prices are much more unpredictable. A tight trailing stop is then much more rarer to be profitable because of that. A wide trailing stop can be even more damaging to the account if the EA makes a few bad trades. What is the solution? After countless testing, it seems that you will have to use a modest take profit, and that is the real solution if you want to keep the drawdown low. Then use a trailing stop that feels right for the timeframe that the EA trades on.

stash of zigzags 😆

If anyone finds prev_calculated confusing (like I initially did) in MQL5, have a look at this blog post https://www.mql5.com/en/blogs/post/760917

Now have this idea rattling in my mind for a zigzag that forecasts the next leg. Also a grey color that the leg changes to when it's deemed that no valid forecast can be made (during a consolidation period for example)

Code publié Autoscaling Zigzag

the person who owns this house must have become successful with the zigzag indicator

If gold starts rallying now, it could be a great buying opportunity. It looks like a support is found on the H1 timeframe, but doji candles suggests indecision, and the trend is uncertain.

If it's hard to see the market sentiment, it's good to use these bears and bulls power indicators and color the histograms this way