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Is P & F Trend Indicator Giving delay signal????
I have used P & F Trend Indicator in expert advisors Highlight. 1 for buying and -1 for selling. I have attached expert advisor to simple candlestick chart. After observation i have seen candle is getting red/blue after 2/3 candles.
Please help me!!!! What should i do to avoid this delay signal.
Thank You!!!
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Hi,
What is the exact formula you are using within the Expert Advisor Highlights?
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In Long
(Fml( "P & F Trend")<=1)
In Short
(Fml( "P & F Trend")<=-1)
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There should not be any sort of delay based on those formulas alone (assuming you meant >=1 for the Long) but keep in mind the P & F Trend formula also uses FmlVar calls for ** P & F Values ** for the BOX, REVERSAL, and THRESHOLD values in addition to the "Data" value, the default being set to the High/Low range. The other defaults would be a Box size of 1, Reversal of 3, and Threshold of 2. You could plot the P & F Trend indicator in your chart to see what value it is showing at the time you're experiencing a problem.
What symbol are you using and in what time interval (periodicity) are you viewing the chart in? Edited by user Tuesday, April 19, 2016 2:08:41 PM(UTC)
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I have witness in last 3 candles P & F Trends value is 1. In forth candle price given volatile move and then values of P & F Trend is changed to -1 for last 4 candles.
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Have you ever edited the P & F Values indicator? Also, which symbol are you using, as there are a few NIFTY-related symbols, i.e. .NSEI for the NIFTY 50 Index, or are you looking at NIFTY Futures?
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I have never edited any values of **P&F values ** or P & F Trends indicator.
i am working on NIFTY Futures.
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The value of P & F Trend should only ever be +1 or -1. You may want to try re-writing the formula to simply be:
Long
Fml( "P & F Trend")=1
Short
Fml( "P & F Trend")=-1
When you say there seems to be a delay, do you mean there is no coloring on the bars at all?
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I have tried simple this formula but same error come
Long
Fml( "P & F Trend")=1
Short
Fml( "P & F Trend")=-1
Delay means suppose there are 4 candles. First three candles having blue color (means P & F Trends value is 1) but when forth candle come with some volatile moves then the all four candles color change to red (means P & F Trends value is -1)
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Ah okay thank you that helps describe the issue. This is by design. The built-in P&F Expert Advisor actually has a highlight showing which bar triggers this reversal. Also, the P & F Help Topics describe the behavior you are seeing.
"This indicator doesn’t plot anything until the toolbox detects a trend. A trend requires at least 5 columns of Point and Figure data. Once a trend is detected, the formula plots either a 1 for a bullish trend, or a -1 for a bearish trend. This trend calculation is based on the breakouts of the support and resistance indicators. Just as they adjust for breakouts, this indicator also changes the recent historical values to reflect a change in the trend."
You can review this under the Help > MetaStock Help > More Systems and Tools > Point and Figure Toolbox > Point and Figure Patterns and Trendlines > Point and Figure Indicators > P & F Trend
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