New SNAKE FORCE INDICATOR for MT4

[tab]

So by repainting... how many bars after the semafor is drawn after the move. One bar? I'm not but repainting you mean like it just draws itself wherever it wants (the most logicalspots) after the fact ? I've been using them all week didn't notice that on the 1 minute.

Does it matter if its a time higher chart like a 30 minute cuz I can see how that might not help, but on the 1 minute if they are half way right this is incredible to me and may work. I dont just use these "semafors"

Could you define a Semafor, never heard of it

[Mike]

ok, I wasn't sure at first but those dots are semafor's. I don't know if you have traded in real time using those, but I can tell you that they are notorious for repainting. They look like a beast of an indicator when the trading day is over and we're just looking at a basically still chart. Everything looks great in hindsight. I just don't trust anything that repaints. I guess they can be helpful perhaps in figuring out some level of support and resistance but other than that, I personally stay away from them. Some people feel that as soon as you see a semafor on the top of a candle, this means that it's time to get short. believe me, in the long run, you will lose. I've practice traded using them and a lot of times, whatever you are trading will make a new high after the semafor has indicated that it's time for a reversal. I guess there may be an effective way to trade it, but I'll stick with price action.

You know what is sad Sniper we have but one entire discussion on repainting indicators and it goes no where: http://forexforums.com/forums/forex-...indicator.html

More people should be aware of them you do agree?

Tab, I downloaded this indicator and have tried it on some back tests and like Sniper says it looks like a beast but who knows how this will do in a live environment.

What I can do for you or all of us I suppose is screen cap my MT4 and if you have not been trading this live yet, wait until you see it in action, as always be careful with indicators that seem to good to be true.

[tab]

I dunno it seems to work good for me, why is a repainting indicator a bad thing if it draws on the bar after the price action set up, doesnt it just help you visually on top of it all.

you dont need to record anything for me, im watching it closely myself, ill let you know.

I'm not trading it by itself i have pivots and other indicators that help me too. im not a complete moron i still dont get repainting or nonrepainting meanings though....

[kraven]

this indicator looked good, so good it's made me post my 1st post here. However I have watched it on my charts this morning and it is probably one of the worst indicator i've seen in a while that gives false signals due to re-painting.
Normal indi's will repaint until the candle is closed, this is normal. However once the candle is closed the indi's indication should also be closed for that candle and shouldn't change there after. In the case of snakeforce i've just witnessed this indi change several closed candles to suit the last open one, basicaly re-painting an entire section (4 candles). So if i had entered a valid trade 4 candles ago, i'd now be out at a loss and there would be no record of the entry on the snakeforce indi.

When you open the charts for the first time and an indi gives you near perfect PAST signal that it appears to good to be true, then basicaly it is.

[softee]

Man that sucks, snake force looked nice

[BudFoxFx]

this indicator looked good, so good it's made me post my 1st post here. However I have watched it on my charts this morning and it is probably one of the worst indicator i've seen in a while that gives false signals due to re-painting.
Normal indi's will repaint until the candle is closed, this is normal. However once the candle is closed the indi's indication should also be closed for that candle and shouldn't change there after. In the case of snakeforce i've just witnessed this indi change several closed candles to suit the last open one, basicaly re-painting an entire section (4 candles). So if i had entered a valid trade 4 candles ago, i'd now be out at a loss and there would be no record of the entry on the snakeforce indi.

When you open the charts for the first time and an indi gives you near perfect PAST signal that it appears to good to be true, then basicaly it is.

Thats why most of these indicators are a putting us all on a fools errand when what's important is what those like Sniper and Yogibear go over, price action. You probably know this, you sound like you know your stuff on MT4. Anyway, I think the last indicator I trusted, to a fault, was some sort of variation of MACD and CCI, things I trust normally, but this was an abhorration that looked amazing on the charts looking backward but amazingly kept repainting like this snake force you say is doing, bars and bars later. Just an awful way to trade. At least I didn't put real money on the line with that one, I hope no one puts real money on the line without trying these indicators first.

[tab]

this indicator looked good, so good it's made me post my 1st post here. However I have watched it on my charts this morning and it is probably one of the worst indicator i've seen in a while that gives false signals due to re-painting.
Normal indi's will repaint until the candle is closed, this is normal. However once the candle is closed the indi's indication should also be closed for that candle and shouldn't change there after. In the case of snakeforce i've just witnessed this indi change several closed candles to suit the last open one, basicaly re-painting an entire section (4 candles). So if i had entered a valid trade 4 candles ago, i'd now be out at a loss and there would be no record of the entry on the snakeforce indi.

When you open the charts for the first time and an indi gives you near perfect PAST signal that it appears to good to be true, then basicaly it is.

hey man


well what time frame you using this on? Are you using this and this alone to get into trades b/c its really most useful on like an hour time frame, you say the snake bars get redrawn up to 4 bars to the previous? i never noticed that, i put this on all my charts basically and love it, never really had an issue, its wacky on a minute or 5 minute chart so thats why i've been looking myself for something better in that regard. but snake force like cci you can draw a trend line on and i like to see other waves up or down are as astrong as the earlier ones, snake force helps in that too

sorry to see you dont like it, could you show me examples of snake force repainting so heinously? im going to see how i can record my screen myself because of this other indicator everyone is taking a **** on that i actually see how it repaints myself it just keeps moving this green dot lower and lower and if you trade any one of these wrong dots before it actually settles your in a world of hurt, but when it does finally settle i noticed it does hold some accuracy, so repainting sucks until it stops i agree on that now

[tab]

Man that sucks, snake force looked nice

I still think it is pretty nice, it works well for me not as an entry method but trend tool

[tab]

Thats why most of these indicators are a putting us all on a fools errand when what's important is what those like Sniper and Yogibear go over, price action. You probably know this, you sound like you know your stuff on MT4. Anyway, I think the last indicator I trusted, to a fault, was some sort of variation of MACD and CCI, things I trust normally, but this was an abhorration that looked amazing on the charts looking backward but amazingly kept repainting like this snake force you say is doing, bars and bars later. Just an awful way to trade. At least I didn't put real money on the line with that one, I hope no one puts real money on the line without trying these indicators first.

Well, what indicator do you recommend buddy?

[tab]

I got some more i found the past few days...

like in this example, i didnt trade this guys exact trade but this happens every day with snake force and ive never noticed it repaint so many bars back as to change my reasoning like theres a pullback coming to the moving average in a stronger up trend with the solid snake force bars which sometimes turns to the skinny green especially on the pullback but thats not what i trade you know. and by the final wave we dont get in because we see snake force strength become lesser and lesser.

[BudFoxFx]

Well, what indicator do you recommend buddy?

Look, don't get emotional over an indicator, you owe nothing to it.

My best indicators are in my brain. A moving average or some sort of weighted average line that plots where price is going to be prone to move toward also helps but as you know a currency pair will do whatever it wants regardless of any indicator, any psychological or real barrier that stands in its way, or it can be reversed at those same areas. You just don't know, neither do your indicators, including this snake force indicator that Kraven accurately points out could be repainting up to four bars into the past, the opposite of useful in my opinion. Granted you can use it to confirm your suspicions on the direction of the longer term trend but to trade indicators as they occur is not the best route to go, especially with Snake Force indicator.

In the end you also have to consider that some indicators are scripted for certain time frames and when you use them on others it will repaint more than on other time frames, a different forum I belong to can confirm what I said on that too, and I've tested certain indicators side by side with 5min and 1hour and my suspicions were confirmed but not Snake Force, but I don't need to do that with this, it's just one of those indi's

[gundang_FOREX]

like in this example, i didnt trade this guys exact trade but this happens every day with snake force and ive never noticed it repaint so many bars back as to change my reasoning like theres a pullback coming to the moving average in a stronger up trend with the solid snake force bars which sometimes turns to the skinny green especially on the pullback but thats not what i trade you know. and by the final wave we dont get in because we see snake force strength become lesser and lesser.

That's not what I was thinking on that trade but in truth I've never seen it repaint more than 1 or 2 bars back especially on 15 minute charts where i use them most. I keep this on charts every day and never sell when its green and never buy when its red and have stayed out of many potentially **** trades. Do I use it as a trigger, not really, I like to use breakout strategies for getting into trades but Snake Force helps, never had a problem with repainting...

[DickP]

Thats why most of these indicators are a putting us all on a fools errand when what's important is what those like Sniper and Yogibear go over, price action. You probably know this, you sound like you know your stuff on MT4. Anyway, I think the last indicator I trusted, to a fault, was some sort of variation of MACD and CCI, things I trust normally, but this was an abhorration that looked amazing on the charts looking backward but amazingly kept repainting like this snake force you say is doing, bars and bars later. Just an awful way to trade. At least I didn't put real money on the line with that one, I hope no one puts real money on the line without trying these indicators first.

I couldn't disagree more. You need to know how to use them, on which time frames, read the instructions, etc, the real fools errand is plopping an indicator on a chart without any sense of what it means or does.

[DickP]

this indicator looked good, so good it's made me post my 1st post here. However I have watched it on my charts this morning and it is probably one of the worst indicator i've seen in a while that gives false signals due to re-painting.
Normal indi's will repaint until the candle is closed, this is normal. However once the candle is closed the indi's indication should also be closed for that candle and shouldn't change there after. In the case of snakeforce i've just witnessed this indi change several closed candles to suit the last open one, basicaly re-painting an entire section (4 candles). So if i had entered a valid trade 4 candles ago, i'd now be out at a loss and there would be no record of the entry on the snakeforce indi.

When you open the charts for the first time and an indi gives you near perfect PAST signal that it appears to good to be true, then basicaly it is.

First off welcome the forums.

What time frame are you using this on? 1 Minute I do notice some fluctuation or repainting as you are all calling it but I always accounted for these by simply ignoring them on a 1 minute chart. What I like the snake force for is 5-15 minute charts which don't do that as often, when a bar closes, the snake bar closes for good as well on higher time frames like that. Bummer you had problems with it, but I really have found a niche for it in my trading and can show you some really nice examples of real trades that it worked for me on, not looking back in time at trades that could have worked like some people on this forum

So if you could elaborate on how this was a dud for you I could elaborate on how it works good for me.

[Mike]

This is for you tab, my final assessment is I don't like it too much, especially on lower time frames, on the 15 Min you see it repaint as far as 2 bars in the past but on 1 Min you see it go 6 or 7 bars back.

I even pointed out in another thread that I took a demo trade based on this indicator but looked over to my normal charts and realized I would have never taken a short position where I did. I don't even chalk it up to being confused by the indicator itself, it just isn't as effective as other things are, truly.

[kraven]

Nice demo Mike.

I admit I tried this out on a lower TF (1min and 5min) purely so i could sit and watch it. On both time frames it would, in my oppinion, lead me into a trade which would have ended badly. Also i see a few have tried it on 15m TF and have seen it repaint upto 2 bars, this is more then enough to lead you to enter a trade only to see it backfiring as the price reverses as the snake force bars vanish

But as DickP stated, this indi may be set-up for high TF's. Does anyone use it on higher TF's (30m plus?) and if so does it repaint? for me NO bar type or dot type indicator should change once the chart bar has closed.

[Bug]

It's a Monet Indicator, it looks good from afar but when you get real close its hideous

[kraven]

put it on my 30min chart (my standard TF) and still the same. repaints to suit. This is no different from 90% of the indi's out there that put arrows at high/low reversal points on for them to vanish when the price surpasses them and then re-appear later (this can happen again and again).There is no holy indicator or system.

[DickP]

I still think its a good tool to some degree, but you'll be in for trouble if its the only thing on your chart, I dont disagree.



I have it part of a template that really works on a daily basis, you dont just stay fixated on the snake force, its just an additional tool to confirm trend and early indication of reversals at some times, but the higher time frame you go the better, this is true of any indicator of this kind. What I dont do is go long every time it turns green and short when it turns red, id be sitting there all day taking bad trades all over the place, its much more intuitive using the indicator than how some beginners to MT4 do, just trading flips of indicators or crossovers of moving averages, this is just a handicap for them, whats really important is to watch price and volume, in reality I've tested out alot of indicators and liked these the best. I dont have the ability to record a chart like above but I would not put it on a 1 minute chart and trade every flip like he does, I really believe its coded for a 15 or 30minute chart where I never notice repainting more than a bar back, even then it is understandable and not something that gets me into bad trades, it just keeps me aware of a potential reversal of some sort, usually very early.
http://forexforums.com/forums/forex-...nners-mt4.html

[Johnni]

Looks good. Thanks.