TheForexGuy
Forex Mentor
Thanks for your kind feedback, I hope the tool helps clear up the charts a bit for you
The Forex Guy's Candle Painter for MT4
- Thread starter TheForexGuy
- Start date
Thanks for your kind feedback, I hope the tool helps clear up the charts a bit for you
Dear Dale, thank you for your indicator, a love it already. I am checking it on currency, share and commodity charts. I have checked the XAGUSD chart, and was wondering if it is fine that 75% of the candles are painted grey/white in a nice and steady downtrend. I did not change any of the original inputs.
hafizhanif84
TFG Forum Junkie
this is mine
hafizhanif84
TFG Forum Junkie
broker data feed was different from each other..u can noticed it by looking at Inside Day candle
To tell the truth, I'm in love with these grey/white candles, because that's where I lose 80% of my money, therefore these are my main focus in testing this indicator now, so I pay special attention to them. However, I have found another interesting issue that I can't really explain. The indicator paints one sideway movement 99% grey/white (perfect!), and another one full red and blue with only one white candle. How should this be interpreted?
Almost not a white candle here...
Almost not a white candle here...
Hello Dale,
Thank you very much for your wonderful invention and contribution for us. I will request you if you could kindly make a small video on his indicator, I mean how to use this for all features, that would be be very helpful.
Once gain many many thanks for that.
Regards,
Syed
Thank you very much for your wonderful invention and contribution for us. I will request you if you could kindly make a small video on his indicator, I mean how to use this for all features, that would be be very helpful.
Once gain many many thanks for that.
Regards,
Syed
TheForexGuy
Forex Mentor
Hi guys,
I appreciate this valuable feedback. As I just want to remind everyone this is meant to be a chart 'helper', and not a signal provider. I designed it to help with your market analysis and give you that 'first glance' of what the market conditions are.
Just because you're getting neutral candles printed, doesn't mean you should not trade at all. It means the market have no momentum and is likely moving side ways. So you should take that information into consideration when making your trading decisions.
I understand some markets show periods where the price movement was just at those special conditions where the indicator couldn't read the conditions properly... well not yet anyway
I am aware about that silver chart actually and some tweaking needs to be done there to try make the indicator a bit more clever in picking up that slower down movement.
The issue here is, when the indicator detects sideways movement - it wants much stronger signals to print bearish or bullish candles again. The problem here is sideways movement is kicking off neutral mode, and then price movements that follow aren't strong enough to break the indicator out of it.
Some adjustments need to be made here too.
This is definitely where the indicator needs to be adjusted, or have some more conditions in there to check for these specific market conditions. It's going from red to blue because the up and down movement has some decent acceleration in it and that's tricking the indicator.
Something that will be fixed hopefully in the next update.
What you've got to understand is any adjustments from here on in need to be done with precision, as if you tamper with the main part of the algorithm it might have a dramatic effect on how it interprets other market conditions.
So making those finer adjustments without effecting the rest of the program is a delicate kind of thing. Just give me some time with it.
I don't want to release a video of it just yet since this is the first phase of it and I want to iron out the rough edges. After I make a few more tweaks I will make a more official video about it when I am happy that the indicator is working to its best ability.
Also guys please watch this weeks commentary video. I run the commentary using this candlestick painter and I do talk about some key points on how it works as I run though the market.
Also I would like to note that this version is a freebie I am throwing out there to all traders.
I am happy to make a 'war room' only edition with added functionality. So if any of you have any suggestions on anything you would like to see integrated, just let me know.
I appreciate this valuable feedback. As I just want to remind everyone this is meant to be a chart 'helper', and not a signal provider. I designed it to help with your market analysis and give you that 'first glance' of what the market conditions are.
Just because you're getting neutral candles printed, doesn't mean you should not trade at all. It means the market have no momentum and is likely moving side ways. So you should take that information into consideration when making your trading decisions.
I understand some markets show periods where the price movement was just at those special conditions where the indicator couldn't read the conditions properly... well not yet anyway
I am aware about that silver chart actually and some tweaking needs to be done there to try make the indicator a bit more clever in picking up that slower down movement.
The issue here is, when the indicator detects sideways movement - it wants much stronger signals to print bearish or bullish candles again. The problem here is sideways movement is kicking off neutral mode, and then price movements that follow aren't strong enough to break the indicator out of it.
Some adjustments need to be made here too.
This is definitely where the indicator needs to be adjusted, or have some more conditions in there to check for these specific market conditions. It's going from red to blue because the up and down movement has some decent acceleration in it and that's tricking the indicator.
Something that will be fixed hopefully in the next update.
What you've got to understand is any adjustments from here on in need to be done with precision, as if you tamper with the main part of the algorithm it might have a dramatic effect on how it interprets other market conditions.
So making those finer adjustments without effecting the rest of the program is a delicate kind of thing. Just give me some time with it.
I don't want to release a video of it just yet since this is the first phase of it and I want to iron out the rough edges. After I make a few more tweaks I will make a more official video about it when I am happy that the indicator is working to its best ability.
Also guys please watch this weeks commentary video. I run the commentary using this candlestick painter and I do talk about some key points on how it works as I run though the market.
Also I would like to note that this version is a freebie I am throwing out there to all traders.
I am happy to make a 'war room' only edition with added functionality. So if any of you have any suggestions on anything you would like to see integrated, just let me know.
Last edited:
hafizhanif84
TFG Forum Junkie
i think breakout trap alert not working at all for me..anyone else have same issue?
hafizhanif84
TFG Forum Junkie
sorry..it is working fine now
TheForexGuy
Forex Mentor
If there are any problems, describe them in more detail and tell me what charts you found them on so I can fix it.
hafizhanif84
TFG Forum Junkie
@TheForexGuy ..please have a look for this issue
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TheForexGuy
Forex Mentor
When did this start to happen?
hafizhanif84
TFG Forum Junkie
Today about 6hours ago..i dont know what happened..just curious about window software update/mt4..but now problem solved..i had to remove the chart and add new one..
TheForexGuy
Forex Mentor
Ok I will look into it. Thanks for letting me know.
I like this new tool! Thanks!
Hi Dale
Many thanks for the Candle Painter Tool for MT4. Very clear and helpful indicator.
Installed OK but I can't show the candles with wicks, although I have got 'Show only body' set to 'False'.
I have checked the common tab to ensure that 'Chart on foreground is unticked.
I am using a Silver background colour for my charts.
Can't work out what else I may be doing wrong.
Thank you for your work in making this available.
regards
searcher
Many thanks for the Candle Painter Tool for MT4. Very clear and helpful indicator.
Installed OK but I can't show the candles with wicks, although I have got 'Show only body' set to 'False'.
I have checked the common tab to ensure that 'Chart on foreground is unticked.
I am using a Silver background colour for my charts.
Can't work out what else I may be doing wrong.
Thank you for your work in making this available.
regards
searcher
TheForexGuy
Forex Mentor
Can you please show me a screen shot of your chart
hafizhanif84
TFG Forum Junkie
maybe u using line chart..switch to candlestick