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LRSF - TMS Expert Advisor

  • #161
  • Apr 13, 2018 11:04am Apr 13, 2018 11:04am
Quoting jdva
{quote} OK... thx for fast reply and the info on that post...! Obviously, those trades has been closed manually and not by the EA...in the meanwhile my sell CJ trades come back and perhaps I'm able to get them closed in BE or even profit as well...as below 200EMA!
No Jdva you have the wrong end of the stick there buddy, the Ea closed these trades when they are in Profit, it is a recovery method, i would read the thread its only 8 pages long and you will understand better, Cheers.
  • #162
  • Apr 13, 2018 11:27am Apr 13, 2018 11:27am
The EA did his job, is specially designed to "Cover your back" and get you out of the trade without losing or at least, recover your trade if it goes against you...

MeMe stands for Manage Entries Manage Exits, what it does is basically place sell/buy limit orders at ATR + Spread, when trade goes against you it will trigger the limit order and then the EA will recalculate the TP to get you out of the trade in BE or with small profit.

A clear example:

Attached Image


First sell = -1,5€
Second sell = +4€

So even that the trade was not the best one, it ended in profit.
Building a Freedom All Time Return: 5,178.8%
  • #163
  • Apr 13, 2018 12:18pm Apr 13, 2018 12:18pm
2018.04.13 17:09:29.096 BiM_LRSF_15 GBPUSD,H4: Operation FileOpen failed, error 5004

What error is this? i set it up on around 20 pairs, two days passed still no trades.. Something must be wrong
  • #164
  • Apr 13, 2018 3:40pm Apr 13, 2018 3:40pm
Quoting successwill
2018.04.13 17:09:29.096 BiM_LRSF_15 GBPUSD,H4: Operation FileOpen failed, error 5004 What error is this? i set it up on around 20 pairs, two days passed still no trades.. Something must be wrong
Hi Successwill,
please read the pages of this thread to catch up. This EA is still under development and is not stable. One of the problems is that it does not see every opportunity. Therefore I propose to use the scripts (post #69) to start trades manually. This EA will recognise trades that are started by the scripts and will then take over. (Post #82).
As you can see in the posts from montego: Trading is still possible with an EA under development.
Cheers...
  • #165
  • Apr 13, 2018 3:55pm Apr 13, 2018 3:55pm
Quoting jdva
Now I'm a little confused on the MEME function. There are 3 sells still open on CHFJPY (2 in DD) and 1 fourth sell limit order still active... though bullish HA candles. Can anyone explain me that or do I made any mistake?
Hi jdva,
For your information: This EA trades the timeframe that is currently active on the screen.
In your screenshot I noticed something:
Attached Image

On the right, the 3 rectangles show the direction of the signal for the current timeframe, the next higher and the next-next higher timeframe. An automatic trade can only start when all three have the same color. For this mechanism to work properly, you have to make sure that you do not switch between timeframes. The chart with the EA needs a stable environment. As I noticed that two rectangles are green, while having a SELL position, I suspect that you have changed the timeframe of the chart.

The MEME mechanism is well descrbed and discussed in the TMS thread. It often saves a trade, but... there is no guarantee. If you trade against the trend then MEME might not be able to solve a huge drawdown. There is never a 100% guarantee that any order can be saved. Therefore I advise to only use the EA on a demo account and manually copy the trades only if you like them. Specially since we are still in a developing phase.
PS: Please study the trades that montego did.
Cheers...
  • #166
  • Edited 4:41pm Apr 13, 2018 4:21pm | Edited 4:41pm
Quoting jansb000
{quote} Hi jdva, For your information: This EA trades the timeframe that is currently active on the screen. In your screenshot I noticed something: {image} On the right, the 3 rectangles show the direction of the signal for the current timeframe, the next higher and the next-next higher timeframe. An automatic trade can only start when all three have the same color. For this mechanism to work properly, you have to make sure that you do not switch between timeframes. The chart with the EA needs a stable environment. As I noticed that two rectangles...
Thanks for your help...jan! I have definitely not changed the timeframe but often the settings of indis, f.i. changed colour of TDI, EMAs, or when then pipsometer disappeared ...moreover provide an unique magic number for every pair when using the script for manual trades etc.
Beeing now on new version 16 on the other pairs...
Last Update:

Attached Image (click to enlarge)
Click to Enlarge Name: TMS EA.png Size: 82 KB



Good night and have a nice weekend...jdva
I never lose - either I win or I learn...
  • #167
  • Apr 13, 2018 4:44pm Apr 13, 2018 4:44pm
But if I setup a trade on 15m, the ea will place the MeMe trades at 15m ATR? Or it will work with H4 data?
Building a Freedom All Time Return: 5,178.8%
  • #168
  • Apr 14, 2018 4:17am Apr 14, 2018 4:17am
Quoting J1mm
But if I setup a trade on 15m, the ea will place the MeMe trades at 15m ATR? Or it will work with H4 data?
Hi J1mm,
the MEME-method is based on ADR(100), the Average Daily Range of the last 100 days. No matter what timeframe you use. The distance between a trade and the next limit-order is ADR(100)/2. This value has been discussed in the TMS thread and there is wide consensus that this is a good measure to use, no matter which security we trade.
As it turns out, with the use of ADR(100)/2 and a maximum of 6 trades per position, we can capture nearly all swings that a currency will throw at us.
Cheers...
  • #169
  • Edited 5:05am Apr 14, 2018 4:19am | Edited 5:05am
A little correction,
Last night I found a little bugger in version 16 that I released earlier.
This is the corrected version.
Attached File(s)
File Type: ex4 BiM_LRSF_161.ex4   163 KB | 341 downloads

Please notice that I also added an extra parameter to set the maximum spread.
Cheers...
  • #170
  • Apr 14, 2018 4:53am Apr 14, 2018 4:53am
Order versus Position
For those who are unfamilliar to trading with multiple trade setups, like MEME I would like to clarify some terminology.
We speak about a trade or order (or even a deal in MT5) when we start a single order. But in official trading terms one would say that we opened a "position".

Some trading strategies have build-in that they add or subtract to a position. This can be done in several ways. The MEME-strategy adds addtional trades to an existing position and it tries to close a position in profit. Even if within that position there may be single trades that are negative. As long as the sum of all trades within a position is positive we walk away with some profit in our pocket.

MEME stands for Multiple Entry/Multiple Exit strategy and it means that a position is gradually build, but also gradually closed. The build-up, as it is now implemented in this EA, adds to a position when that price goes against us in order to catch a better entry level. As long as the overall trend is still in place this is considered a safe action. Closing a trade is now facilitated by a partial close mechanism. In the future, specifically for MEME, this will be extended to keep the last trade in the MEME open until the RSI-5 tells us it's time to close. So that covers the multiple exit strategy.

PS: I made sure that the MEME mechanism is FIFO compliant, and therefore is suitable for USA-traders as well. (In the USA it is not allowed to use hedging on the same security and the oldest order in a position must close first. These restriction explain why many brokers do not accept USA-based traders.)

I hope this explains a bit more about MEME and why I often speak about a position instead of a trade.
Cheers...
  • #171
  • Apr 14, 2018 8:35am Apr 14, 2018 8:35am
Thaaanks a lot for the explanations, also Emmanuel was so kind to put a very nice post in TMS Thread to help get all the information from years of posting, reaaally useful...

@Jans, one quick question... The SELL/BUY Scripts (The ones with custom Magic Numbers) can both be used on same chart (Each with different Magic Number) and EA will manage them independently? I want to try something... >: )

V1.6.1 setup and ready to rock next week, I have setup a new Demo account for testing and I will keep this one for the "good" trades, Anyway I'm thinking about going life next week with this EA + Strat.

Report of the week, MeMe had to come an rescue me in some trades

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 29 KB
Building a Freedom All Time Return: 5,178.8%
  • #172
  • Apr 14, 2018 10:03am Apr 14, 2018 10:03am
Quoting jansb000
{quote} Hi Andern2000, Please look at this post: https://www.forexfactory.com/showthr...4#post10125984 Cheers...
So do I have to create the bim and tms subfolders or can I just install it to indicators folder? Tks.
  • #173
  • Apr 14, 2018 10:15am Apr 14, 2018 10:15am
Exactly my friend

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 15 KB
Building a Freedom All Time Return: 5,178.8%
  • #174
  • Apr 14, 2018 1:00pm Apr 14, 2018 1:00pm
Quoting J1mm
... The SELL/BUY Scripts (The ones with custom Magic Numbers) can both be used on same chart (Each with different Magic Number) and EA will manage them independently? I want to try something... >: )
The scripts run, and are then immediately removed from the chart. So yes you can run the script on one single chart, even on the chart that holds an EA.

The EA will only "see" the trades with its own MagicNumber. Other trades, with other MagicNumbers will be completely ignored. So, you can run the EA twice for the same security, but... there can be only one single EA on a chart. So you will have to open two charts, one for the EA with MagicNumber 1 and one with MagicNumber 2.

For the others reading this: J1mm is going to perform a special experiment. This post does not apply to normal trading with this EA. Sorry for the confusion.
Cheers...
  • #175
  • Apr 14, 2018 1:08pm Apr 14, 2018 1:08pm
Quoting andrern2000
{quote} So do I have to create the bim and tms subfolders or can I just install it to indicators folder? Tks.
There are many different versions of the TDI available on the web. And they do not always produce the same results.
So I decided I would use a specific folder to avoid confusion. The TDI that you need is also in one of the posts in this thread.
Cheers...
  • #176
  • Apr 14, 2018 1:26pm Apr 14, 2018 1:26pm
Congrats to Montego and J1mm, you made excellent profit this week.
(actually more than me. I just made a miserable €12,- ).
  • #177
  • Apr 14, 2018 2:03pm Apr 14, 2018 2:03pm
Quoting jansb000
Congrats to Montego and J1mm, you made excellent profit this week. (actually more than me. I just made a miserable €12,- ).
dear Jans
which broker are you using?
I tried on alpari.com and roboforex.com
In the first case I have an error 138, and in the second case for a year he did not open any orders.
I use BiM_LRSF_16.ex4
  • #178
  • Apr 15, 2018 3:31am Apr 15, 2018 3:31am
Quoting jansb000
{quote} The scripts run, and are then immediately removed from the chart. So yes you can run the script on one single chart, even on the chart that holds an EA. The EA will only "see" the trades with its own MagicNumber. Other trades, with other MagicNumbers will be completely ignored. So, you can run the EA twice for the same security, but... there can be only one single EA on a chart. So you will have to open two charts, one for the EA with MagicNumber 1 and one with MagicNumber 2. For the others reading this: J1mm is going to perform a special...
Just for clarification Jan: For instance I open two EU charts, first with MagicNumber "1" and a second with MN "2" and select "No Trade, Just Monitor" in the EA settings. Then I choose and put in one script MagicNumber "1" for buy and "2" for sell trades.
Now if I want to buy manually the EU...then I do apply the script with MagicNumber "1" on the EU chart with the same MN "1". Is that correct so?

Thx, jdva
I never lose - either I win or I learn...
  • #179
  • Apr 15, 2018 6:00am Apr 15, 2018 6:00am
Quoting jdva
{quote} Just for clarification Jan: For instance I open two EU charts, first with MagicNumber "1" and a second with MN "2" and select "No Trade, Just Monitor" in the EA settings. Then I choose and put in one script MagicNumber "1" for buy and "2" for sell trades. Now if I want to buy manually the EU...then I do apply the script with MagicNumber "1" on the EU chart with the same MN "1". Is that correct so? Thx, jdva
100% correct.
  • #180
  • Apr 15, 2018 6:09am Apr 15, 2018 6:09am
Quoting ManUkr
{quote} dear Jans which broker are you using? I tried on alpari.com and roboforex.com In the first case I have an error 138, and in the second case for a year he did not open any orders. I use BiM_LRSF_16.ex4
Hi ManUkr,
please note that this EA is still under development:

  1. backtesting seems to be not working properly. Many ppl have reported this error during backtesting.
  2. The autotrading does not find all opportunities. I recommend trading manually and use the EA as a trade manager.
  3. When you run the EA on 28 pairs you should get a couple of trades avery week.
  4. Only use demo-account for now!!
  5. Read the thread (9 pages) to find out how it all works.

Cheers...

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