LRSF Monitor - Assistant for TMS trading

Hi all,

In this thread I will work on a monitor that will show good entry points for TMS trades.
This Monitor is an assistant to my LRSF Expert Advisor.
https://www.forexfactory.com/showthr...4#post10597594

The TMS strategy is described in it's own thread.
https://www.forexfactory.com/showthread.php?t=291622

My Expert Advisor and Monitor are completely separate from the TMS thread, and if you take the time to read that thread you will find that many others have developed Expert Advisors and tools to help us trade better. If you have questions about anything in the TMS thread, please ask them in that thread.

I will keep the last version of my monitor up to date in this post. Other software, indicators, trails, scripts etc will be posted as regular posts. However I will keep a list in this post of the most essential goodies. So post #1 is always the place to go if you want to catch up on the latest developments.

What will be new ?
This new version of the monitor will not only look at the current timeframe for setup, but it will also check other timeframes for good setup patterns. So it will go beyond just checking if the higher timeframes go up or down. It will give you insight in the whole context of whats going on before you start a trade.

Cheers...

LRSF Monitor (post #2)


LRSF Magnified Price (post #6, #11 and #13):

Introducing version 2.00

Version 2.00 is an exact copy of version 1.07 of the initial development. This will be our starting point for further development. The original Monitor (upto version 1.05) was published in the TMS EA thread. (See post #500, #533, #557 in the LRSF EA thread for more info). Here we make a fresh start with this version 2.00.

Cheers...

Hi I'm getting no Trend in this new version, was working ok on v1.05

Hi burnrubber,
you are correct, my mistake.
I posted version 1.06 instead. This version has some bug-fixing over version 1.05, but too minor to have been published before.

Version 2.00 will be an MT5 project, so although I use version 1.07 as a starting point it will eventually not work on MT4.
Cheers...

So what is the new idea for this monitor?

In the TMS thread you will find this picture from Emmanuel7788.

https://www.forexfactory.com/showthr...51#post8097051

This picture says that when you want to trade the H1 or H4 you must make sure that the direction of the D1 and W1 are in sync and only trade in that direction. In my version 1.xx of the EA this was already detected correctly and it works out good in nearly every case (using the MEME strategy). Now, in some cases it would not work out because although on the D1 the trend might be UP it might still be close to exhaustion (for example near a resistance or support line).

So I want to try a strategy where I am using the TMS rules also on the higher timeframe, and only look for a H4 setup when the D1 is at the beginning if a TMS sequence (early after a break of the 5EMA). So not only would I use the TMS strategy on the H4 timeframe but I use the same rules on the next higher timeframe.

My plan is to make this a little bit flexible. Since we have 9 different standard timeframes I want to make it freely selectable which timeframe you would like to check and how you want to check them. So for every timeframe it will be possible to select:

1. A - automatic
2. F - no test
3. 1 - just test direction
4. 2 - check for 5EMA break
5. 3 - check for TMS setup

The default behaviour for TMS is to check the current timeframe for a TMS setup and the next higher and next-next higher for direction only.
A parameter-string A;A;A;A;A;A;A;A;A would then be the default behaviour.
A parameter-string A;A;A;A;A;A;3;1;1 would then just check direction on MN1 and W1 but require a proper TMS setup on D1. When we trade on H4 then on that timeframe the default behaviour would apply (in this case also a TMS setup).

This may sound complex, but I think it is actually simply applying the same idea from TMS on multiple timeframes. If it actually leads to better trades? We will see...

LRSF Magnified Price MT5 v2.00

This indicator shows quick trade data.
Although the name originally comes from a similar named MT4 indicator that would show the current security price in a big font, I enhanced this indicator a lot further. It now shows:

1. The price (and it is magnified )
2. The symbol and timeframe
3. A custom text
4. Spread
5. ADR 100
6. Total profit in pips for all trades on this symbol.
7. The swap-costs for BUY/SELL (default switched OFF)
8. The weekly control candle (WCC)

Unlike the Monitor this indicator only shows data about the chart it is attached too.

Cheers...

hi, jansb000:
sorry to bother you with this, but when I tried to attach the monitor to the chart, I got the error message ' tdi can't be initialised'. what do you think might be the problem? (I put both the monitor and the tdi indicator from post #1 of the EA thread in the 'indicator folder'). thank you for your time!

Shuo

Hi Shuo,

Sorry, for the late reply.

You will find installation instructions here:
https://www.forexfactory.com/showthr...8#post11312698
(this article is written for MT4, but the location is the same for MT5)

I like to keep this custom indicator in a separate folder because there are several implementations of this indicator. In this way we have control of exactly which version we use for this indicator (and the expert advisore that follows).

Cheers...

LRSF MT Trend

Part of the LRSF Monitor is a trend module.
I decided to create a small separate indicator for trends. This makes it easier to prepare and test the code before I integrate it into the Monitor.


Usage:

1. Its all pretty simple and most parameters are self explaining.
2. The parameter for selecting the timeframes to display needs a bit of explaining

We can display the trend on 9 timeframes: M1, M5, M15, M30, H1, H4, D1, W1, MN.
For every timeframe we can select if it should be displayed: A, T, F.
If the character is F the trend for that timeframe will not be displayed.
If the character is T the trend for that timeframe will be displayed.
If the character is A (or anything else) the auto setting will be used.

The auto setting is that 3 timeframes will be displayed. The current, the next higher and the next-next higher. For example, on a H4 chart the default behaviour is that the trends for H4, D1 and W1 are displayed.

Example: A;A;A;A;A;A;T;T;T
The trends from D1, W1 and MN will always be displayed. On a H4 chart we will therefore see 4 trends:
H4 (because of the A-setting), D1, W1 and MN (because this is what we explicitly requested by the T-setting).

Cheers...

LRSF Magnified Price v2.01

This is a new version of the magnified price indicator (a collection of useful simple indicators).
You can find the download link in post #1.

Changes are all cosmetic:
//| Version 2.01
//| - Cosmetic changes
//| - Renamed cl_bar methods
//| - Introduction of class cl_font to manage all font related settings.

Cheers...

LRSF Magnified Price v2.02

This version of the magnified price now includes the trend indicator as described in post #9.

This means we can now display the trends on as much as 9 timeframes.
This is a very powerful feature.

Find the downloadable file in post #1.
Cheers.

LRSF Monitor 2.01

Finally I managed to include my new trend detection algorithm into the LRSF monitor.
The monitor is still not complete, it now only shows the trend detection. However, this was a major redesign and further enhancements are soon to be expected.
Download the new version in post #1

The indicator can now display up to 9 timeframes. This gives good insight in the direction of a price.
Cheers...

LRSF Weekly Control Candle v1.00

The MT5 version of the Weekly Control Candle indicates the most recent weekly bar that covers the recent highs and lows.
This indicator shows several levels that likely will act as support and resistance in the coming weeks.

In the screenshot below we can see the WCC (dotted rectangle) and the shadow for the next two weeks.
It is clearly visible that the price action uses the indicated levels as support and resistance.


Improvements for future versions:
Most of the code was taken from the LRSF Magnified Price indicator, and was put into a separate indicator to make it easier to optimize the code. Mainly I want to reduce the number of time that the graphics are redrawn when there are no changes. This should make this indicater much "lighter" since in essence only one update per week is necessary.
Cheers...

LRSF Weekly Control Candle v1.01

This version minimizes the number of updates of the graphics.
It will check if an update is needed, and if not it will simply leave the graphics as they are.
So no functional change with the previous version, just better performance.

Cheers...

Bar Clock

I can not do without this tiny indicator.
It shows the time until we get the next bar.


Cheers...

LRSF Monitor v2.02

I found and solved a major bug in the detection of trends. As far as I have now tested it, the trends are now correctly determined and displayed.
The bug was this: For every symbol I determine the direction of a moving average, but I also check if the current ask and bid prices are above or below the moving average. This is to filter cases where the moving average is pointing in one direction but the current price is on "wrong" side of the MA. This could indicate that a trend break is imminent. The mistake I made was that the ask and bid prices were taken from the current chart (where the indicator is attached). This should of course be the symbol that we are testing for its trend.

You can find the latest version of the monitor in post #1.

The next addition to the monitor will be the check for Heiken Ashi.
Cheers...

LRSF Magnified Price v2.04

A collection of small corrections. Mostly cosmetic.
Download this version on Post #1

Cheers...

LRSF Monitor v2.03

Faster then I expected, I managed to add the HA indicator.
The column has the following meaning:

1. "-" The sequence can not be determined.
2. "0" - "9" The number of bars in the current sequence.
3. "*" The number of bars in the current sequence is > 9.
4. The color speaks for itself.

Now, with just these two indicators implemented, trading according to Trading Made Simple becomes a lot easier.
The trend can be spotted very easy. The last two of the [***] must have the same color. That is the trend.
The HA indicator must have the same color as the trend and the number must be 0 or 1 (or 2 when a bar just started).

One important issue that is not covered is the location of the next support or resistance level. You still have to do this manually, but with the above information all collected on one sheet it is a lot less work to spot a trading opportunity.
Cheers...

LRSF Magnified Price v2.05

Several small corrections, including:

1. An additional check if the ADR(100) is initialised correctly.
   Sometimes, it would simply say that the ADR(100) is 0 or a really huge number.
   This is now detected and the setup of the ATR indicator will be repeated.
2. Division by zero during calculation of the profit in pips.

Cheers...

LRSF Magnified Price v2.06

Added two extra help lines. It turns out that within the weekly control candle it is handy to know the low, the high and the middle of the WCC.
I have now added two extra lines that show the 25% and 75% levels.

You can download this version from post #1.
Cheers...