Custom/proprietary indicators?

Discussion in 'Index Futures' started by bankroll, May 29, 2013.

  1. Strangely I see many offerings of custom (Ninja Trader) indicators aimed at future traders. I don't know, maybe in a greater percentage than forex traders use proprietary indicators.

    Sure users of this forum are not the main target market for commercial proprietary indicators but maybe some of you hired a programmer to code a custom indicator for you or you only use freely available or open sourced indicators?
  2. Checking all those indicators is like going to a grocery store. You've got your apples, oranges and bananas that are available. But the (really) expensive shiny pink apples coming from some exotic place don't necessarily taste better than the cheaper ones. Let alone you would actually find a golden apple on the shelf somewhere. Somehow that never happens.

    There are probably many people that have "tested" all the indicators that they could lay their hands on, only to conclude that none of them are profitable.
    Personally I think this is some sort of phase many traders have to go through. And unfortunately many get stuck in this phase and can't work their way out of it.

    So if you want a customised indicator, why would you want to pay for one or even want one in the first place ? If someone else did the thinking and programming, it would make sense if that person would just use it for himself. Unless the thinking process stopped at how to make money out of it from someone else (and not by trading it :D)

    To get back to your original question, I'm a strong believer in using a single indicator only. Get to know it inside out. Watch it for months (years even) and see how it reacts to the same situations over and over. Watch the same setups hundreds of times repeat itself and see how your indictors reacts, before and after the fact.

    So to answer your question. Yes, I use a proprietary indicator that I made myself. It was done by watching some existing indicator in real time for a very long time and then I made changes to it so it gave better predictions, smaller stops and combined it with PA.

    The problem with buying an indicator (and let's assume for a minute here that it's a profitable one) is that at a certain moment in time, it will stop working due to changing market conditions. And then you will be left behind in the dark on how to fix this.
    If you do the thinking yourself, you won't have this problem, as you will know how to fix it yourself. Paying a programmer is a different issue of course.

    I'm not at all a good programmer myself btw, so I would recommend a charting package that is easy to use in making indicators and at the same time still performant.

  3. the fx primarily MetaTrader community is Much larger than NT's and proprietary indi-
    cators or trading systems/EAs are either de-coded or figured out and coded then
    posted on the fx forums. the fxers are also into posting/sharing their systems, indi-
    cators and eas, not so with NT, in part don't think there's a futures specific forum as
    is the case with fx - old school new school