The CARMEN System Indicator

TheFutureAce · #**166** Nov 6, 2009 5:40pm

NExt week I will try to use this indi on a 15 min chart and see the results.

Jaula · #**167** Nov 6, 2009 6:28pm

Quote:

Originally Posted by opie999

Results from the past week using v2.01. There's still an open trade that I would probably exit before (Friday) market close.

No filters or ancillary indicators whatsoever. Strict entry/exit rules. Seems to work reasonably well on EJ but hard to say with such a small sample i.e., one week.

Sorry about the huge image.

How do you calculate your stop loss and take profit targets?

rtx · #**168** Nov 6, 2009 8:26pm

hm ... i dont know why indicator has such name, but i think its nothing more then "step MA" i can put screenshot and indicator also if someone is interested .. but its long time ago i was using indicators, so i need to check my archive

but my opinion is that it is step ma and if not its 90 % similar to it.

opie999 · #**169** Nov 6, 2009 8:48pm

Quote:

Originally Posted by Jaula

How do you calculate your stop loss and take profit targets?

All the calculations are done for you within the indicator based on your external settings. We don't need to calculate anything if we simply follow the entry/exit rules:

Quote:

Originally Posted by aicccia

When the white line is above the yellow and blue lines, BUY.
Then when the white lines falls below the yellow and blue lines, close the buy and SELL.
Then when the white lines rises back above the yellow and blue lines, close the sell and BUY again.

It's the epitome of simplicity. Closing a long position means you're next trade will always be a short and vice versa.

opie999 · #**170** Nov 6, 2009 10:46pm

Quote:

Originally Posted by rtx

hm ... i dont know why indicator has such name, but i think its nothing more then "step MA" i can put screenshot and indicator also if someone is interested .. but its long time ago i was using indicators, so i need to check my archive

but my opinion is that it is step ma and if not its 90 % similar to it.

You think? Because it resembles one of your dusty old ma indicators? aicccia and the other FF coders he's working with are all just trying to make a big joke on everyone?

Bugger the screenshot. I have a better idea. The source code has been generously made available for all to see. Why don't you have a quick look at it and return with proof that carmen is a step ma or "90% similar to it" (whatever that means).

angus · #**171** Nov 7, 2009 12:04am

Quote:

Originally Posted by opie999

Results from the past week using v2.01. There's still an open trade that I would probably exit before (Friday) market close.

No filters or ancillary indicators whatsoever. Strict entry/exit rules. Seems to work reasonably well on EJ but hard to say with such a small sample i.e., one week.

Sorry about the huge image.

Interesting system, seems promising.

Here are the results for EUR/JPY from the beginning of October:

18 winners - 2042 pips --- 22 losers - 917 pips

Ave winner - 113, Ave loser - 42

The only drawback is that you would have to trade this 24 hours a day.

opie999 · #**172** Nov 7, 2009 12:53am

Quote:

Originally Posted by angus

The only drawback is that you would have to trade this 24 hours a day.

That's the 800lb. gorilla in the living room. An EA is the only practical way for most people to take full advantage of the system. I have the added disadvantage of not trading live on MT4.

Tjpld · #**173** Nov 7, 2009 6:57am

Since you're opening on a completed bar once the Average is above or below the CarmenLower/CarmenUpper spikes will make your "small losses" much bigger. Also keep in mind that on a cross above the CarmenUpper you will buy at the Ask which will cost you Pips and vice versa. You will never be able to enter or close at the Red or Blue Lines.

chievo11 · #**174** Nov 7, 2009 7:34am

Hi,
Have a problem to download the indicator ?
Get only attachment.php ?
Can you help me ?

Regards

Chievo

aicccia · #**175** Nov 7, 2009 7:38am

Quote:

Originally Posted by Tjpld

Since you're opening on a completed bar once the Average is above or below the CarmenLower/CarmenUpper spikes will make your "small losses" much bigger. Also keep in mind that on a cross above the CarmenUpper you will buy at the Ask which will cost you Pips and vice versa. You will never be able to enter or close at the Red or Blue Lines.

Yes I know.

But since I don't know the actual values of the lines till the price is right there on top of them, it's a guessing game to set stop or limit orders. And if I was opening on a cross of price, vs a cross of averages, I would lose many pips due to spikes.

The spread is one of my biggest enemies on the lower timeframes and the only way I can fight it is to only open trades when I have a very clear cross, and this means getting in a little later sometimes.

smjones · #**176** Nov 7, 2009 7:41am

Quote:

Originally Posted by chievo11

Hi,
Have a problem to download the indicator ?
Get only attachment.php ?
Can you help me ?

Regards

Chievo

Use a different browser or change your security settings

Tjpld · #**177** Nov 7, 2009 7:59am

Quote:

Originally Posted by aicccia

Yes I know.

But since I don't know the actual values of the lines till the price is right there on top of them, it's a guessing game to set stop or limit orders. And if I was opening on a cross of price, vs a cross of averages, I would lose many pips due to spikes.

The spread is one of my biggest enemies on the lower timeframes and the only way I can fight it is to only open trades when I have a very clear cross, and this means getting in a little later sometimes.

I tried to implement a trading code but it doesn't quite work. To make it a little easier i created a line which is the middle of the Red and Blue Channel otherwise I don't know how you can get the EA to only open a Buy or Sell when it passed through both the Blue and the Yellow Lines. With the original code it would have opened a buy when trading inside the channel and then breaking to the upside.

Somehow it doesn't always close the open position despite passing through the MedianLine multiple times. Maybe others can work from here.

EDIT: Changed it back to work without the Median Line. Caused to much trouble.

madscalp · #**178** Nov 7, 2009 9:28am

Quote:

Originally Posted by chievo11

Hi,
Have a problem to download the indicator ?
Get only attachment.php ?
Can you help me ?

Regards

Chievo

You can rename .php in .mq4

vasi · #**179** Nov 7, 2009 9:56am

Quote:

Originally Posted by aicccia

I had a pretty good idea for an indicator about a month ago but it had some drawbacks, and me being the perfectionist that I am, I went back and completely changed it.

First I got rid of the MAs.

What's the difference between a 300 EMA and a 400 EMA? There's not much difference, and I promise that the market doesn't care which you think the difference is. How about a 14 EMA or a 21 EMA? Again they're almost identical and the market doesn't care at all which one you prefer. Traders like Moving Averages only because every time the market bounces...

Hi !
i can't download the indicator, i don't know why. I download it like attachmant.php file and not like a normal file mql. Why?

Thank you

Tjpld · #**180** Nov 7, 2009 10:03am

Quote:

Originally Posted by Tjpld

I tried to implement a trading code but it doesn't quite work. To make it a little easier i created a line which is the middle of the Red and Blue Channel otherwise I don't know how you can get the EA to only open a Buy or Sell when it passed through both the Blue and the Yellow Lines. With the original code it would have opened a buy when trading inside the channel and then breaking to the upside.

Somehow it doesn't always close the open position despite passing through the MedianLine multiple times. Maybe others can work from here.

EDIT: Changed...

Found a small bug. Of course for the Close Condition it's enough if the Average crossed the Upper or Lower Line without looking at the PreviousAverage. Has to be changed.