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Proteus indicator (www.intelligentsoftware.info/) Repaints

Discussion in 'Scam Alerts' started by arryex, Dec 2, 2010.

  1. arryex

    arryex Recruit

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    I would like to share with you all that I just bought subscription of Proteus5 indicator.

    Unfortunately the indicator is not as what they claim, i.e. neural network prediction for MACD(20,200,20). The facts are:
    - Indicator is repainted, means previous prediction lines will be overwritten with the real value of MACD.
    - The previous signal generated also overwritten with the real value
    - They claim can show 5 bar in future but actually it will be useless since it may changed as the real value will come.
    - When I reclaim for the refund they said it is monthly subscription, I could not refund just stop the subscription.

    See attached picture as comparison:
    - proteus1 and proteus1a (1 minute chart);it can be seen predicted 5 bar MACD which are previously down has been repainted with the real MACD (going up)
    - proteus2 and protus2a (1 hour chart). The previous predicted MACD (both values almost at the same values) has been repainted afterward.

    Thank to all other soldiers, to avoid any more victims.

    regards,
    Arryex
     

    Attached Files:

  2. Chaz McHan

    Chaz McHan Corporal

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    I don't understand... did you think there actually was some kind of indicator that would tell the future? I think there was an old Twilight Zone episode that went something like that.

    Many indicators are predictive but then correct themselves according to real-time data. Even Bollinger Bands and moving averages work this way.

    Out of curiosity, how much is this monthly "service" they offer?
     
  3. Pharaoh

    Pharaoh Colonel

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    Did their advertising say that this fortune-telling indicator didn't repaint? If so, file a dispute with the payment processor, your credit card company, etc.
     
  4. Chaz McHan

    Chaz McHan Corporal

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    Dammit, Pharaoh, you just made me blow my drink out of my nose. ROFLMAO
     
  5. Pharaoh

    Pharaoh Colonel

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    Hey Chaz,

    Want to get together and design a non-repainting indicator that predicts the future 5 bars out? We could base it on an numismatic aerial propulsive probability generator* algorithm.
    :p





    * Technically, that would be a coin toss
     
  6. Chaz McHan

    Chaz McHan Corporal

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    Pharaoh, OK... now that I've wiped my keyboard off YET AGAIN from blowing my drink out of my nose after reading your post... damn... I don't even have a witty comeback. You slay me.

    On a serious note, I WOULD be interested in collaborating on something with ya. Are you interested?
     
  7. ProteusSoftware

    ProteusSoftware Recruit

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    I think mr. arryex did not understand the purpose or how the indicator works.

    Mr. arryex, this is not an attempt to deceive you or our users by any means.
    It is clear from the website description, from the screenshots and from the video, that this is how the indicator works. Even if by some chance it was still not clear for someone, they were and are welcomed to send an email to office@intelligentsoftware.info to clarify any questions or doubts that they may have, before making a purchase. This is repeatedly written throughout the website.

    You complain of that "the indicator is not as what they claim, i.e. neural network prediction for MACD(20,200,20)". But it is exactly that. The future values are predicted using a neural network algorithm, embedded in the dll file.
    You also complain that previous prediction lines will be overwritten with the real value of MACD. This is true and I never claimed otherwise, but if you think about it, seeing as the prediction is made for 5 bars in advance, there is no other way to display the information except to overwrite previous values. I'm going to try to explain why: at each bar, there can be one value. Consider the 5th bar (let's call it 'X') in the future gets it's prediction as value v1. When time passes and the current bar finishes forming, the prediction is refined and bar X in now the 4th in the future and gets a new, more accurate value v2. This happens repeatedly until bar X becomes the current bar forming. So bar X gets 5 values as time passes. Which one to display and why ? Who makes this decision? If I choose the first value, someone else will complain that it should have been the 2nd value, and reverse. There might be some value in leaving the last prediction drawn instead of replacing it with the real MACD; or maybe adding more indicator lines; this is something that the few developers that I have will look into, if many people request it.
     
    #7 ProteusSoftware, Dec 9, 2010
    Last edited: Dec 9, 2010
  8. Pharaoh

    Pharaoh Colonel

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    OK, so the indicator repaints. It would seem reasonable to have a line below that "keeps score" of how accurate the first prediction was. That would make it very east to see just how useful (or not useful) the indicator really is.


    Sounds like it might be fun. Send me a PM.
     
  9. arryex

    arryex Recruit

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    Hi mr. proteus,

    In my opinion:
    - It is not fair to claim prediction accuracy more than 90% for predicted values 1 bar, 2 bar in future, In the meantime you remove the predicted value and overwrite with the real values.
    - I understand most of predicted indicators are to predict the value in future, but to see the performance need to compare the past predicted values and the real values. I am surprised that you remove the predicted indicator then overwrite with the actual value. Means forget what has been predicted, what ever your trade position and just see the next predicted value.. As the real sample, if the predicted MACD tell that next 5 bar in future will be cross down, after 3 bars completed your predicted values said cross up...meanwhile the previous prediction has been gone (overwritten with the real values).
    - I could not confirm on real that your indicator has more 90% accuracy as you claimed. The statement about indicator accuracy make all people interested to buy..but in fact I do not get it...
    - You said there is no other way to display the information except to overwrite previous values. You can... put predicted and real values in different buffer and display both of them..so you can see their past values..Only by comparing them you can claim 90% accuracy. You need to learn more how to to make a good indicator prior selling it, try for your self..
    - I am curious when we ask you the real performance of your indicator or even by creating an EA, i am sure you don't have it..

    My conclusion:
    - your indicator only display next predicted values but forgeting what has been predicted (either good/bad prediction) after new bar coming.
    - Your accuracy can not be confirmed in actual because you overwrite the predicted with the actual values.
    - Claim 90% accuracy is not correct for me...
    - Your indicator is repainted, since you remove/change/overwrite the predicted values.
     
  10. ProteusSoftware

    ProteusSoftware Recruit

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    I'm going to answer to each separately:

    That's right, this is called "adapting to the market". Would you like the indicator to show you the MACD is going up when in fact it's going down? I think not. Sometimes a plane hits a building and that makes the price value go down/up. The indicator updates it's predicted values based on the last available price and it needs to do that in order to be useful.

    The accuracy can be confirmed if you use a script and make actual comparisons between past values, as described on the website. That being said, I re-read your post a couple of times and I think it's not clear for you how the accuracy was measured. Have a look at Accuracy of Proteus 5 - Forex prediction indicators for Metatrader 4 for more info on that.

    As I said previously, I never claimed otherwise, but it's worth mentioning the values are changed at the end of each bar, not at each tick. The values need to change according to the market. As it is written on the website, the indicator does not predict the future, it predicts the indicator's next values patterns basted on the patterns already learned. There's a big difference. Think of candlestick patterns - it's the same thing.


    At Pharaoh's suggestion, the indicator will be changed to leave the last predicted value displayed instead of overwriting it with the real one; this should make it easier to verify the accuracy by just looking at the lines. I'll make sure this update is released before the holidays.
     

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