This indicator looks fantastic - until you look under the hood! When viewing the source code, you'll see 2 lines (mq4 version):
This is future information! i.e. The indicator values are calculated with the benefit of hindsight. Remove these 2 lines and compare .. it's not nearly as predictive. (BTW, equivalent code exists in the mq5 version - in case you're wondering!).
That's obvious because after applying this indicator on the chart you may see it change the previous bars when the new bar has formed. But OK, it looks like that's not so obvious after all. I'll add that warning to the download page.I see you didn't approve/allow my follow up post where I recognise that what I was describing was what you called 'repainting'. I suggested that 'recalculating' would be a better word, as repainting sounds like an issue with updating the graphical representation of the indicator on the screen.
On http://www.earnforex.com/metatrader-indicators/Fisher, you explain the use of indicator as going long when the bars change to green or short when they change to red. However, you should include a warning along the lines of 'The user must ignore any historical output of this indicator. The indicator adjusts the value of prior bars based on subsequent price data.'
I disagree this behaviour is obvious. Most people assume that indicators are static and what they're seeing on the chart historically, accurately represents what was shown in real time. Unless you're specifically looking for repainting/recalculating, it would be easy to miss.
I don't know, I didn't code this indicator .Thanks for adding the warning. It'll be useful for people who are evaluating a lot of indicators and don't have much time (like me!).
Regarding the 'disappearing post' - who knows? I wrote a follow up message which didn't appear on the forum. Does the forum software allow for 2 unmoderated posts? Anyway, no big deal .. chalk it up to 'lost on the internet'.
This may sound like harping but I'd like to get to the bottom of it. I don't see the value in the repainting/recalculating (apart from making it look like the holy grail when looking at the charts!). What's the point of the repaint?
You can post the links here if they are direct download links. You can even attach the indicators to your post.there are various versions of fisher that do not repaint. Obviously they are a slightly slower than the "original" but still worth a look imo.
Better not post a link but let me know if you want some info on other fisher indies.