reees

2022년 11월 22일 오후 6시 14분

Addressing blind hatred for indicator repainting

Bitcoin all time history indexINDEX

설명

⋅ 2022년 11월 22일 오후 6시 14분

Since publishing the Harmonic Pattern Detection, Prediction, and Backtesting Tool, I'm constantly asked if it "repaints". For some reason, people have this deep fear of repainting, as if any indicator that repaints is some evil entity created by the devil himself, sent to earth to trick you into making bad trades. In fact I'm convinced that those most obsessed with repainting don't even actually know what repainting means. And I have news for you: the vast majority of scripts repaint, and there are only a handful of cases where non-repainting scripts are even remotely useful.

After reading a comment describing my Harmonics indicator as a "fraud", I was offended deeply enough to waste my time creating this ancillary documentation describing how the indicator "repaints".

Q: When are completed patterns drawn?

Completed patterns are drawn as soon as they are valid/confirmed, according to your settings.

If "Enter after point C" is selected, a pattern is drawn:
(1) Only if the incomplete pattern score is above your defined "If score is above" setting.
(2) As soon as price hits your defined "Enter at" PRZ level

If "Enter after point D" is selected, a pattern is drawn:
(1) As soon as the pattern is valid, as defined in your "Pattern validation length" setting. This is set to 1 by default, which means that the pattern will be drawn 1 bar after point D. This doesn't mean the script is being deceptive by drawing a pattern "in the past", it's simply drawing the pattern as soon as it's been validated. Any signal worth its weight in piss needs to be validated in some way or another, which usually takes some amount of time. It's not magic.
(2) Only if the completed pattern score is above your defined "If score is above" setting
(3) Only if price is within your defined "Enter at limit % away from D" AND on a bar within your defined "Entry window (time limit)" settings.

Q: Are completed patterns RE-drawn?
There are certain cases where we redraw a pattern when a new point D forms. The essence of a pattern is points XABC, and point D is fluid within the Potential Reversal Zone. By drawing a new point D, the script isn't being desceptive, but simply trying to give the most valuable/up-to-date information it has at the time. This repainting is done in good faith, as it respects any entries and targets that may have already been hit and doesn't affect the backtesting results in any way.

Q: When are completed patterns redrawn?
Basically, if a new point D forms for the same XABC of the same pattern type, we run some checks to determine if we should keep the old pattern, or draw a new pattern.
- If a target has already been hit, we keep the old pattern AND draw the new pattern.
- If no target has been hit, we will display the higher scoring of the two patterns.
- If there was already an entry hit on the initial pattern, that entry will be inherited by the new pattern, so it upholds the integrity of backtesting. I'm pasting this logic below for anyone who wants to see exactly what it's doing but is too lazy to look at the open source code.

A picture is worth a thousand words, so here's an example:

Isn't it better to see the new pattern with a better point D instead of keeping the old/weaker pattern? Now we have updated information, and adjusted targets relative to a higher scoring point D. If you had missed the entry on the initial pattern, wouldn't you want to know that now we have an even stronger pattern?

Point D redraw code:

// Add pattern to completed pattern structures addValidPattern(t,h1,h2,h3,h4,h5,h6,xX,xY,aX,aY,bX,bY,cX,cY,dX,dY) => string[] s = na bool lasteH = na int lasteX = na float lasteY = na float lastScore = na tp = tp(h1,h2,h3,h4,h5,h6) m = typeToMatrix(t,tp) if matrix.rows(m) > 0 // check last pattern of same type last = matrix.row(m,matrix.rows(m)-1) [lt,lh1,lh2,lh3,lh4,lh5,lh6,lxX,lxY,laX,laY,lbX,lbY,lcX,lcY,ldX,ldY,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,_,lt1H,lt2H,leH,leX,leY,lscore] = unstringify(last) lastScore := lscore // if A, B or C is different = new pattern if aX!=laX or bX!=lbX or cX!=lcX s := stringify(t,h1,h2,h3,h4,h5,h6,xX,xY,aX,aY,bX,bY,cX,cY,dX,dY) addCompleted(t,h1,h2,h3,h4,h5,h6,s) // if ABC are same but D is beyond last pattern's D, replace it with this one. We want to draw the // new/updated pattern and calculate its updated score, but maintain any entry/targets that have // already been hit. else if (t and dY < ldY) or (t==false and dY > ldY) if leH and na(lt1H) lasteH := true // inherit entry from last pattern (trade is active) lasteX := leX lasteY := leY s := stringify(t,h1,h2,h3,h4,h5,h6,xX,xY,aX,aY,bX,bY,cX,cY,dX,dY,lt1H,lt2H,leH,leX,leY) else s := stringify(t,h1,h2,h3,h4,h5,h6,xX,xY,aX,aY,bX,bY,cX,cY,dX,dY) // if lastScore > getScore(s) // if lower score, keep last pattern s := na else if not na(lt1H) // if last pattern trade closed, just add the new pattern addCompleted(t,h1,h2,h3,h4,h5,h6,s) else // else, remove the last pattern in favor of the new one lpid = pid(tp,lxX,laX,lbX,lcX,ldX) removeCompleted(lpid,t,tp) addCompleted(t,h1,h2,h3,h4,h5,h6,s) else s := stringify(t,h1,h2,h3,h4,h5,h6,xX,xY,aX,aY,bX,bY,cX,cY,dX,dY) addCompleted(t,h1,h2,h3,h4,h5,h6,s) // Update newly added pattern if not na(s) // update entry, if necessary if lasteH draw.eHitLbl(lasteX,lasteY,dX,dY,t,true) else score = getScore(s) [eHit,eX,eY] = entryHit(t,tp,xX,cX,xY,aY,bY,cY,dX,dY,score) if eHit draw.eHitLbl(eX,eY,dX,dY,t) pid = pid(tp,xX,aX,bX,cX,dX) s := setEntry(s,eHit,eX,eY) l = updateCompleted(pid,t,tp,s)

코멘트

⋅ 2022년 11월 22일 오후 6시 21분

Note: Incomplete/Potential pattern repainting is a bit more complicated, and will be addressed after I iron out a few remaining issues.

코멘트

⋅ 2022년 11월 22일 오후 8시 10분

CORRECTION: Patterns after a valid point D will be drawn regardless of whether the score meets the "If score is above" entry requirement. That requirement only applies to entering a trade. If the score does not meet the entry requirement, we will show the "no entry" icon on the label to indicate that a trade has not/will not be entered for this pattern. The reason we still draw the pattern is so that you know it exists, and can use that information to refine your settings. e.g. maybe you decide that your "If entry is above" requirement is to restrictive, and want to include lower scoring patterns.

코멘트

⋅ 2022년 11월 22일 오후 8시 10분

코멘트

⋅ 2022년 11월 28일 오후 6시 33분

A note on real-time bar repainting:
Patterns can be repainted during real-time bars until the close of the last validation length bar (defined in the "Pattern validation length" setting). The default value is 1, meaning that a pattern may be redrawn on 1 real-time bar after Point D, until that bar closes. After that bar has closed, a completed pattern will not repaint (with the exception of the scenario described above).

Harmonic Patterns Technical Indicators

코멘트

kukretyshubham

⋅ 2023년 2월 16일 오전 6시 57분

Bro, what you're doing is amazing! Massive respect for you. I can't imagine if I were you, I would've done what you're doing. But now I will.

Be the beaming light that you are. Let the haters hate. Respect!

reees

⋅ 2023년 12월 23일 오후 6시 47분

@kukretyshubham, thanks!

VGL99

⋅ 2022년 11월 22일 오후 9시 0분

@reees you have my full appreciation for the work you have done with those 2 patterns indicators , they are truly best one out here :) and taking in consideration that all this with no asking price. I can say just this. RESPECT!

reees

⋅ 2022년 11월 22일 오후 9시 51분

@VGL99, thanks!

stevobenno

⋅ 2022년 11월 22일 오후 7시 25분

frankly 90% of the free open source stuff on here is essentially glued together macd's with some fancy emas given glorious names and hyped by youtube clowns shouting "83% win rate mega scalper". considering this is free and open source, it's very classy what you've put together. you could easily charge for this.

agreed repainting is not an issue here.

reees

⋅ 2022년 11월 22일 오후 8시 13분

@stevobenno, thanks, I appreciate it! Unfortunately this Harmonics indicator was featured in a video by one such YouTube clown lol. Not a big fan of the way he used the indicator, but happy that at least it seems like people are getting some use out of it.

youtu.be/_Tgv9CLkLIk

SwallowPremium

⋅ 2022년 11월 23일 오전 11시 44분

Such an interesting trading setup. Keep posting!

reees

⋅ 2022년 11월 23일 오후 8시 50분

@SwallowPremium, thanks!

MargD

⋅ 2023년 3월 7일 오전 8시 33분

I think people are constantly looking for the magic wand, love your indicator which is brilliant and thanks so much for giving it to us free of charge x

APE8FUNGUS

⋅ 2023년 2월 23일 오전 4시 4분

@reees bro thank you, you are an inspiration