I recently became interested in HGI again after seeing Charles HGI + Sixths thread. In the past year, my trading a la CJ style had also improved. These two events piked my interest in HGI as a trade filter on shorter timeframes such as M15.
HGI is awesome don't get me wrong. I had tremendous success with it, albeit periodical. Also, being more a discretionary trader, I lack the rigid and ruthless trading abilities demanded by mechanical systems. I switch backwards and forwards between timeframes, contstantly trying to get a hold on what the market is doing. HGI, being the 'now' indicator that it is, often drops, moves, removes and adds signals upon timeframe changes. For my style of trading this became very frustrating.
So it is out interest and frustration that wrappedHGI was born.
What is? It is HGI that is wrapped within another indicator. This another indicator does a number of things:
> It will highlight all new signals that occur within 'NewLookBack' number of bars ago. I felt this is important as I could never tell if a signal at a particular point in history was added at that time or some time recently. The default is 5 bars and signlas are highlighted through a colour change. The colours are those set under 'New signal colours'
> It will highlight signals that become 'obsolete'. These are signals that would be removed by HGI upon a timeframe change. They are marked as so by changing all arrows to a hollow arrow and waves to circles. If these signals become relevant again, they will be changed back to normal arrows and waves.
> At initial indicator loading, all signals are gray and blue waves are dark gray. This was done to allow determination of signals painted in the past after the indicator has been initialised.
> The indicator will run on all selected timeframes, simultaneously. This means all timeframes are kept 'up-to-date' in regard to highlighting new and obsolete signals.
> There is button to turn the display on/off. It will continue to run in the background
Those that know HGI and anything that uses it knows the load it can put on a system. I would recommend that if you cannot run Renes HGIMatrix, don't bother with wrapped HGI.
Start with one timeframe and trend arrows only and slowly add the signals and timeframes you want. I am running a 6700K i7 with 16gb RAM and I am limited to trend arrows and wavies on 2 timeframes on 28 charts.
If you hang your terminal, go to the data folder, remove the indicator from the indicator folder and restart the terminal. Remove the indicator from the charts then add the indicator back to the proper folder location and start the process over again. YOU HAVE BEEN WARNED. I will have no sympathy for those who crash their terminals nor can work out how to fix it when both have been clearly explained here. Do keep in mind that this indicator will use no pc juice until there are ticks coming in.
There are limited options to turn certain functions on/off and some things are hardcoded such as obsolete signal codes. If there is interest I can add these. I will not be adding alerts or any other toaster functions to this. HGI and HGI matrix have a suite of options that you are possibly thinking about asking for anyway.
Anyway, have a gander and see what you all think. I am interested in any feedback so long as its useful.
Cheers,
BobbyT
PS: Almost forgot, you need the HGI library to run this. Get it over at the HGI thread and drop it in the includes folder. Without it you won't get far nor will you get a response from me (incidentally neither with tl;dr responses)
