HGI is hardly a single indicator. It’s an amalgamation of many indicators, collected together is a way meant to make it easier to understand for the trader.
The HGI is a composite indicator that is based on the TMA. Both Hopwood and nanningbob used to belong here at FF. They would trash brokers left and right. Then, one fine day, Hopwood decided that he would start his own forum and took bob with him. They found a broker that they liked, and the rest is history.
The HGI is a wicked repainter with arrows forming long after the fact, and forming in real time only to disappear later. Their alibi to this is that that indicator is telling you what the market is doing in real time, so if it changes, that is what it is supposed to do. That is fair to say, but it cannot be used as anything more than an analytical tool. Many people have tried to pair it with other things to mitigate the repainting, all to no avail.
It wouldn’t be free? What? That’s silly. People come together to share ideas and sometimes code and they have no idea whether the results will be good. Some times they are. ‘It wouldn’t be free’ is a silly defeatist attitude. Some of the best stuff, or at least their precursors are out on the net. You just have to find them, try them and improve them.
You can’t trade profitably with a negative attitude. It just won’t work. And you can’t expect tools to be flawless. Deal with them.
Apparently folks were using HGI to good advantage. No indicator or strategy is 100%. So who cares if it repaints. Gosh, that must mean it’s not 100%. You stare at the charts all day and learn to trade them. HGI is a tool to perhaps make that easier. Learn its imperfections as you would learn price action, only easier.