TLDR: This update of Victoria adds a new mode where you can switch between Backtesting or Signal. This is to reduce the repainting issues discovered when selecting a timeframe that is not the same as the chart.
Important: If Victoria is set at the same timeframe as the chart it still works as it should without repainting. You don’t need to revisit your implementation unless you use different timeframes.
In Victoria 1.5 we added an option to select a timeframe other than the current chart timeframe for the signal sources. This introduced an issue with repainting when selecting a timeframe that was different than the chart timeframe. Often when the signal crosses the threshold it stays true, but it does sometime just briefly cross the threshold and then goes back – causing ghost signals.
Say you have the chart set at 5 minutes but Victoria at 60 minutes. That gives you 12 candles of 5 minutes within the 60 min candle. If Victoria during the duration of the 60 min candle briefly crosses the threshold and then revert back before the bar is closed it could still trigger an alert. The previous implementation checked the condition for every bar of the current chart timeframe (5 min), if it briefly crossed the threshold it would trigger.
Now, since 1.7, if signal mode is selected: The signal will only be valid once the higher timeframe closes the bar and not before. When backtest mode is selected we’re only looking at past bars and do not require this protection. If Victoria has the same timeframe as the chart nothing changes with this update.
Let’s dig into a scenario:
Victoria Buy signal is set to 1H, only RSI, rest is default settings, signal mode
1H chart – condition is true on 7:00 candle, alert sent at 8:00 with “Once per bar close”
30m chart – condition is true on 8:00 candle, alert sent 8:30 with “Once per bar close” (1 chart TF bar late = 30 min late)
15m chart – condition is true on 8:00 candle, alert sent 8:15 with “Once per bar close” (1 chart TF bar late = 15 min late)
5 min chart – condition is true on 8:00 candle, alert sent 8:05 with “Once per bar close” (1 chart TF bar late = 5 min late)
1 min chart – condition is true on 8:00 candle, alert sent 8:01 with “Once per bar close” (1 chart TF bar late = 1 min late)
This brings me to the conclusion that if you’re creating alerts on Victoria you should either use:
Signal mode + same chart timeframe as Victoria TF (1H) + “Once per bar close” = alert sent 8:00
Signal mode + 1 min chart timeframe + “Once per bar close” = alert sent 8:01
Signal mode + chart any other timeframe not Victoria TF (1H) + “Once per bar” = alert sent 8:00
When using Backtest mode it always plots the signal 1 bar before 8:00 so “Once per bar close” will plot a buy at 8:00 regardless of timeframe on historic bars. But suffer from repainting/ghost signals if used when creating alerts.
Wait a second – Too advanced? Want to dig in deeper? Any questions or ideas?
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