A story which we have read and written about time and time again. Indicators like Superfast forex from the infamous Karl Dittmann are nothing new but yet there still seems to be a market for them. I can only put it down the need and desire to know “does it work”. Until one can decide for themselves they will alway feel like they are missing out.
Thankfully, we have sites like this one which can help you make an informed decision. And in the case of Superfast it is the same old story. It is not an amazing indicator, you will not get anything out of it that you could not get out of a free indicator. In fact it doesn’t even deserve a full review. However, I thought I would highlight the issues with the MT4 indicator so at least you have some understanding of why I do not like it.
“Karl Dittmann” claims that it is “an incredibly super-fast newest 2013 trading tool that generates the fastest trading signals…” it is “the ultra speedy indicator is proven to generate an outstanding maximum profit” and most noticeably in big red font he stated “the indicator DOES NOT REPAINT.”
What it does not repaint? Really?
Actually it doesn’t repaint!………….But only because it displays its signals 2 bars (1 period) late. It is a perfect legitimate way to remove repainting but if you take a repainting indicator and wait until it finished repainting it doesn’t suddenly become a superfast indicator.
You can see in the image below what the system retailers would like you to believe this indicator shows.
However, as you can see below that there is a missing signal bar which does not appear until after the NEXT candle/bar has completed.
So they say you get a super fast signal but what actually you get from the Superfast Indicator is…..
As you can see the actual signals would be the close of the bar after the one they imply is the signal. This means the wonderful winning trades in their examples could well be losses and when you go to trade yourself you will be quite often getting in and out after the bulk of the the trend. This is a sure way to lose money.
Further, not only are signals delayed compared to what you see historically, they are in fact no faster than any other indicator. In fact, a simple Hull MA works faster and without repainting. You could probably compare it to an xpMA as well.
The Hull MA above, matches the signals from the superfast indicator very accurately and in some of the turns it is in fact a whole period before the signal generated by Karl’s indicator.
At the end of the day you have to make your own decisions. You can give this guy money or download a better indicator for free. The choice is yours.