LRSF - TMS Expert Advisor

Hello guys!

Today the EA should have placed a very good trade on EURUSD, hope it will give you all some pips

Kind Regards,
Jimm

Yes I have the trade on my demo with version 16.
Monday I started 4 trades manually, all 4 needed MEME. Pfff. Anyway 2 came out with profit today. Now waiting to see what the other two will do.
Cheers...

Same here, I have it on Demo and took it manually on live...

Lets see how this end up, Im having MeMe also for a couple of trades that I took not really following TMS rules so lets hope hope the best hahaha...

Im afraid the day we hit a 6 step MeMe loss X_X no wins can recover from that xD

Agreed Jamie, but i still would be in proift as the Ea has done me proud so far, You cant win all the time in Forex

Yep, once in a while will will take a hit. The thing is that the normal trades, eventually when all bugs are solved, should make more profit then the occasional loss. The way the EA is operating now we get way to many break-evens, or good orders are taken out with TP early. The EA needs to take full advantage of the good trades:

1. Add to winning trades
   When a trade goes our way we have to add to it at every retrace. Currently the TP is to close to let that happen.
   Before we can do this...
   1. we need info about SR-Lines (wip)
   2. shadow orders (wip)

   
   

2. Trade until next SR-Line is reached
   Before we can do this...
   1. we need info about SR-Lines (wip)
   2. Re-enter trades after BE
   3. shadow orders (wip)

So, still a lot of work to do.

Jans agreed, but to add to this i still think this is the most profitable and safe Ea i have ever used, thanks again for all your hard work..

version 15 over 2 weeks notice no red colums - 477 pips !

Version 16 over just one week -171 pips !

Please,

Can you share your set file and TF that use?

Thanks

Please,
Can you share your set file and TF that use?
Thanks

Trading the Ea out the box, no settings been changed, cheers.

Montego, you trade manual or you just let it run?

When manual, what are you looking for entries?

I got caught in the EURUSD... Let's hope the best! hahaha

Kind Regards,
Jaime

Hi Jamie, all automatic buddy, set and forget

Impressive

Hi all,

I updated the special LRSF indicator.

This is how it looks now:

List of changes:

1. Solved the problem that sometimes some lines would dissappear.
2. Made the code clearer and leaner.
3. Added a trend indicator. The 3 stars show the same information as the 3 rectangles from the EA.

Cheers...

I try v16 in backtest and this error appears

any idea ????

default settings

Please read post #180.
You can run the EA on a demo account and it should work fine.

Hi all,

as of version 17 there will be initial support for handling Support & Resistance lines (SR-Lines). Support & Resistance lines are often regarded as crucial to place new trades correctly. In version 17 the available SR-Lines will be read from a file and shown on the chart. They will not yet be used for making trade-desicions in version 17.

In post #1 you can find a link to a tool to store SR-Lines in a local database. With that tool you can draw SR-Lines and store them in a file. Later this file can be used to put the SR-Lines back on the chart. The EA can read this file as well!
When version 17 will be released I will also publish a copy of my file with SR-Lines. Fortunately, SR-Lines tend to stay stable for a long time.

Cheers...

About using SR-Lines.
The price often bounces between support and resistance lines. Therefore, when we approach a SR-line we can expect that the price will react to it. Either by bouncing back or by breaking. What I want to accomplish with the EA supporting SR-lines is that I want to avoid trades near an SR-line.

As an example: In the picture you can see two possible trades.

1. Trade A trades away from the upper SR-line and has plenty of space before it reaches the lower SR-line. That is good, we can make $$$ here.
2. Trade B trades into the lower SR-line. That is not good, there is a 50% chance that the price will bounce. There is hardly any room to make money.

The B-trades are dangerous since these are the trades where we can see a change of trend, and a big trend can be so big that MEME cannot save it anymore. Therefore we want to avoid those B-trades.

In the picture above one could also ask, what about the signals given by the green bars? They also trade away from the lower SR-line, but they never seem to go far. That is true, and that is why we also have to check the trends on the higher timeframes. We only take trades in the direction of the trends on the higher timeframes. When we stick to the existing algorithm but just remove the dangerous B-trades the chances of a big loosing trade will be reduces significantly (i.m.o.).

Some trading assumptions:

1. Working with trends and SR-lines is more reliable on higher timeframes. That is why TMS is working with H4 and higher. Also the swings between SR-lines on the higher timeframes are bigger, so we should be able to get more pips per trade
   
2. For some reason, the prices will almost always move from one SR-line to the next. So if we can grab a trade that is close to, but away from a nearby SR-line we have a fair chance of making some decent profit. Since we now have a way to avoid B-trades (and therefore also reduce the risk of long running MEME orders), that means the EA will be "free" to jump on the next A-trade.
   
3. When we are already in a good trade and we approach a SR-line we stay in the trade. A trade will only be exited once we get an exit-event according to TMS. For example, if we took trade A, we would stay in that trade (locking the break-even level). The price might break the lower SR-line and give us more profit. Remember that we are always trading with the bigger trends.
   
4. We assume that we can still make profit when we are approx. 30 pips away from an SR-line.
   (or ADR(100)/2). Any closer than that means we will wait for another trade.

Cheers...

Oops.
I realised I made a mistake in the Magnified price indicator. I used the TMS MA5 with offset 2 to determine the signal-direction, but that is wrong. It should have been MA10. So here is a quick update:

1. Uses MA10 to determine direction of the signal
2. The number of periods is now a parameter
3. Added version number (1.11) to better keep track of the last updated version.

Sorry for the inconvenience...

Please. What is best time frame for default settings ?? H1 or H4 ??

Thanks.

*EA Trade Automatic? Only need EA ex4 and Indicator ??