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Attachments: The CARMEN System Indicator
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The CARMEN System Indicator

  • #81
  • Nov 3, 2009 8:23pm Nov 3, 2009 8:23pm
[quote=aicccia;3198990]Just released v2.00. Check out the intro post here.

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.

I have read this thread with both interest and bewilderment. It appears to me to be an example of "The Emperors New Clothes". Everybody is praising and admiring them but nobody can see them. The other explanation is that I am just stupid since I cannot see how you can make any money on a regular basis by following the indicator. If you follow the instructions you buy or sell at one end and wait until it fluctuates all over the place and reverse it at the other end with no profit points in the middle.
What am I not getting here????
Granted it gives you a direction for entry but so will any number of other indicators but I fail to see a consistent "take profit" instruction that will generate profitable pips other than that caused by unpredictable volitility. I never thought myself as particularly dense but I just can't see the benefit here.
Can anyone help?
  • #82
  • Nov 3, 2009 8:42pm Nov 3, 2009 8:42pm
Quoting Jollyroger
I have read this thread with both interest and bewilderment. It appears to me to be an example of "The Emperors New Clothes". Everybody is praising and admiring them but nobody can see them. The other explanation is that I am just stupid since I cannot see how you can make any money on a regular basis by following the indicator. If you follow the instructions you buy or sell at one end and wait until it fluctuates all over the place and reverse it at the other end with no profit points in the middle.
What am I not getting here????



I just loaded the indy myself and your thoughts crossed my mind too

So I read, er,skimmed the whole thread , fast mind you. it's not very long, you mite give it a shot I think the channel changes as the trend goes, so, the idea is you stay about even till the big one hits
  • #83
  • Nov 3, 2009 8:49pm Nov 3, 2009 8:49pm
Quoting goldsurfer
I just loaded the indy myself and your thoughts crossed my mind too

So I read, er,skimmed the whole thread , fast mind you. it's not very long, you mite give it a shot I think the channel changes as the trend goes, so, the idea is you stay about even till the big one hits
I have read the whole thread twice and some posts on it three times and I still can't see the benefits of the indicator. I'm hoping that aicccia can straighten me out or someone else that can see the benefit that I cannot.
  • #84
  • Nov 3, 2009 8:53pm Nov 3, 2009 8:53pm
Anyone else has the same problem?
  • #85
  • Nov 3, 2009 8:56pm Nov 3, 2009 8:56pm
Hi guys, just read thru this thread and found it very interesting and promising. I have download the lastest v2.0 but somehow i feel that is different from the rest of urs. I have uploaded it, please help to check. thanks

and also for the 3 settings in the new version, do we need to do anything?

I just did a short when the white line is below the yellow and blue line, am i right to do that trade? but as what aicccia had mentioned, when the white line is below the yellow and blue line, do a sell and when the white line is above the yellow and blue line, close e sell and do a buy. But when that point of time, i already losing pips, so when i close the sell and do a buy, i am just trying to break even, so in e end, is always lose pips, gain pips, lose pips, gain pips, a cycle, am i right?
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 72 KB
  • #86
  • Nov 3, 2009 9:03pm Nov 3, 2009 9:03pm
Quoting IllegalOps
do a sell and when the white line is above the yellow and blue line, close e sell and do a buy. But when that point of time, i already losing pips, so when i close the sell and do a buy, i am just trying to break even, so in e end, is always lose pips, gain pips, lose pips, gain pips, a cycle, am i right?
uh huh, untill the the big move comes, he explains it very well in POST #1.

I just fired it up myself, I'm gonna watch it for a few days
  • #87
  • Nov 3, 2009 10:45pm Nov 3, 2009 10:45pm
Quoting shediao3
Anyone else has the same problem?

hi,
i think its not an EA,its a normal indi,put it into your experts/indicators folder
Money is made by sitting, not trading. Jesse L. Livermore
  • #88
  • Nov 4, 2009 12:14am Nov 4, 2009 12:14am
Aicccia,

Thank you for sharing your unique idea. What a great and simple concept. I have just read through your thread, and am anxious to try your indicator out.
I use IBFX mt4 for charts only, and trade my live acct. with a non mt4 broker. I assume I must also initiate a trade on the mt4 account in order for the channels to change as the trade progresses from range to trend. Is this correct?
Also, do you recommend closing out your trades, before news, than getting back in once direction has been established?
Have you tried any pairs other than GBP/USD?
Thank you in advance, and many, many pips to you.

SirViver
“The waiting is the hardest part” Tom Petty
  • #89
  • Nov 4, 2009 2:23am Nov 4, 2009 2:23am
Quoting goldsurfer
uh huh, untill the the big move comes, he explains it very well in POST #1.

I just fired it up myself, I'm gonna watch it for a few days
hmmm... i read thru e post #1 but still no idea how to enter and exit..i am using version 2.0 and there are 3 settings, do i need to do anyting? thanks
  • #90
  • Nov 4, 2009 2:47am Nov 4, 2009 2:47am
Quoting IllegalOps
hmmm... i read thru e post #1 but still no idea how to enter and exit..i am using version 2.0 and there are 3 settings, do i need to do anyting? thanks
Quoting aicccia
Her name is Carmen and her goal is to have small to zero losses on ranging market and then make a killing on trends.

.

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.





The rules are pretty straight forward and simple. I just found the thread this afternoon and am watching out of curiosity
  • #91
  • Nov 4, 2009 3:13am Nov 4, 2009 3:13am
I think is correct,
but this is the great value of the indi for me.

In fact, for what I see in front of me, the real potential can be obtained with the action of trailing stop, not a take profit that would kill the value of following a big move.

An EA with trailing stop is the perfect way to extract value from this indi for me.


another think that I noticed is that sometimes the older version gives better signal, but not on all pairs and timeframes.


still looks incredible to my eyes


Quoting goldsurfer
I just loaded the indy myself and your thoughts crossed my mind too

So I read, er,skimmed the whole thread , fast mind you. it's not very long, you mite give it a shot I think the channel changes as the trend goes, so, the idea is you stay about even till the big one hits
  • #92
  • Nov 4, 2009 3:21am Nov 4, 2009 3:21am
Hi all,

Sorry, but I have read the whole thread and did not see how you compute the blue, yellow and white lines. I do not use MT4, so I cannot read it. Could you please post the computation or the rationale of the computation of the lines? It looks interesting and I would like to study it in detail.

Best Regards and Happy Pips to all.

Gonso
  • #93
  • Nov 4, 2009 3:39am Nov 4, 2009 3:39am
Quoting Jollyroger
I have read this thread with both interest and bewilderment. It appears to me to be an example of "The Emperors New Clothes". Everybody is praising and admiring them but nobody can see them. The other explanation is that I am just stupid since I cannot see how you can make any money on a regular basis by following the indicator. If you follow the instructions you buy or sell at one end and wait until it fluctuates all over the place and reverse it at the other end with no profit points in the middle.
What am I not getting here????
Granted it...
yeah I know. I'm working on that right now.
  • #94
  • Edited 5:10am Nov 4, 2009 4:54am | Edited 5:10am
Hi all,

Been testing Carmen together with GannHiLo for flitering.
Looks good for now. Will monitor more on this.

Btw, I am using Carmen Eyes v1.01. Only change expand_rate parameter to 25 for my liking.

Thanks to aicccia for this lovely Carmen.

P/S : Top pic showing M1 & bottom M5 (Both are current AUDUSD)

~profi~
Attached Image(s) (click to enlarge)
Click to Enlarge Name: au0411_m1.gif Size: 15 KB
Click to Enlarge Name: au0411_m5.gif Size: 18 KB
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #95
  • Nov 4, 2009 4:59am Nov 4, 2009 4:59am
Quoting profi4554
Hi all,

Been testing Carmen together with GannHiLo for flitering. Looks good for now. Will monitor more on this.

Btw, I am using Carmen Eyes v1.01. Only change expand_rate parameter to 25 for my liking.

Thanks to aicccia for this lovely Carmen.

~profi~
Pro. what time frame are you using.. can you post the indi here..?

Thanks rebel
  • #96
  • Nov 4, 2009 5:08am Nov 4, 2009 5:08am
I'm using M1 and M5.

Top pic showing M1 movement and bottom is M5.

The indi can be found here in FF. Out of respect to aicccia, I think is not good for me to post the indi. Hope you don't mind.

~profi~
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #97
  • Nov 4, 2009 5:18am Nov 4, 2009 5:18am
Quoting profi4554
I'm using M1 and M5.

Top pic showing M1 movement and bottom is M5.

The indi can be found here in FF. Out of respect to aicccia, I think is not good for me to post the indi. Hope you don't mind.

~profi~
Thanks pro... and good wook aicccia
  • #98
  • Nov 4, 2009 5:48am Nov 4, 2009 5:48am
Hii
can anyone explain the entry and exit rule with a screenshot much appricated..

thanks again for the great indicator
  • #99
  • Nov 4, 2009 6:51am Nov 4, 2009 6:51am
A solution to the endless reversing may be to take profit at pre-determined levels based upon historical moves away from the channel. You could use the close of the bar that coincides with the white line break of the channel, or the high/low of that bar. Then try to come up with a stop loss that would statistically contain all of these moves. If you do this on a regular basis and keep track of the optimal take profit and stop loss levels (kind of like an ATR indicator would give you an idea as to an increase or decrease in the trading range over x number of bars), you should be able to lock on to something that produces an edge with this system.

Slade
  • #100
  • Nov 4, 2009 6:58am Nov 4, 2009 6:58am
Hi Aicccia,

Would it be possible for you to re-post version 1 or the original carmen indicator. I am currently testing the new version, however the original seemed to work much better. Thank you.

fxpilot
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