Updated multiple fixes for Trend Catcher to help ensure live/historical matches where possible. See full release notes below, Confirming red green arrows for intra-bar.
An updated enhancement has been posted to the toolkit. PLEASE TAKE A MOMENT AND READ THE BELOW – ITS LONG BUT ITS IMPORTANT This resolves the MAJORITY of discrepancies between live and historical (stat simulator). There may be some differences with some wins or losses due to time stamp variations that happen on live versus historical plotting however this impact has been dramatically minimized and improved in a unique way we believe you will be very happy with. The fact of live and historical crossing over 2 types of time frame stamps and live tick versus historical alone will cause some discrepancies. Our goal is to not have any and we will keep working towards this but the fact that live and historical are in fact different just on a bar by bar basis there will be some this is the reality of trading. However, we have made significant improvements and want to help you understand them as our goal is full transparency.
Some days there will be no discrepancies. However, when there is a discrepancy, it is more likely to default to the worst case scenario and drop more winners than loosers on the stats in a big move from stats. For example: Click Here for example Notice the winners on the right side versus the loser on the left side (of the left chart) versus the right chart dropping more winners than losers. Why did we do this (allow more winners to be dropped than loosers on time stamp discrepancies)? Because we are traders ourselves and we would rather the performance be better in live markets than historical stats whenever possible and so as to avoid claims of “inflationâ€.
Understanding the Confirmation Indicator:
When your looking at confirmation INDICATOR HISTORICALLY ON PAST TRADES it is looking at the last closed range bar in the diagnostic bar. It is not showing the other range bars that closed within the diagnostic bar. So when just doing a visual confirmation bar check HISTORICALLY you may see the a CONFIRMATION bar opposing and think the signal is “wrong†and should not have been taken. This is because the confirmation bar just plots the LAST range bar within the Diagnostic bar. If there are multiple range bars in the diagnostic bar they will not show historically just the last one. Live you will see the confirmation bar confirm. So how do you test this historically?
To help you see when the range bar (intra-bar within the diagnostic bar) did close in the confirmation direction but maybe was not the last bar etc.(like you see on the confirmation indicator when looking historically) you have the red green arrows. They only plot if intra diagnostic bar a range bars did close within the direction of the signal. As a reminder for you to ensure accuracy in most cases the red green arrow often will plot at the close of the entry bar just to show you for historical purposes where the price was hit and confirmation (intrabar closed range bar) closed in the same direction.
So when do I enter, as a reminder the rules are entry when the cyan line’s price is hit and the confirmation indicators is matching up when your entering. If confirmation no longer lines up then you cancel or exit the trade if you got in prematurely. (Make sure to duplicate your confirmation settings from Trend Catcher into your confirmation indicator). Exit if stop is hit (orange line is the initial stop loss from your stop loss offset settings), exit if TC is hit (change multiplier to make it closer), exit if tc line flips (changes red/green).
Added negative stop offset for TrendCatcher. Do not use this until we release 2.0 Bars or it will not work out well This will be for Elite members. No ETA yet