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Attachments: The CARMEN System Indicator
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The CARMEN System Indicator

  • #101
  • Nov 4, 2009 8:30am Nov 4, 2009 8:30am
Okay guys theres a video I found just before this thread was started, I think it would be appropriate to share this here as it may help someone....

This youtube video is showing a method very similar to this, but I beleive there using a chandelier type of stop indicator in the video, in this video the guy doesn't mention though what method or indicators there using, But i think it may be using ATR in this method? Looks quite promising, small stops being the strong point so losses are kept small.

youtube.com/watch?v=CvifFRJKtIc

Can anybody make anything out of this video, or get any useful info from it so that we can improve on this indicator? I believe there using eSignal for their charting but they didn't share what method it even is or what proper indicators there using.
  • #102
  • Nov 4, 2009 8:38am Nov 4, 2009 8:38am
EDIT: sorry WilteredFire it was a bad question.
  • #103
  • Edited 9:04am Nov 4, 2009 8:40am | Edited 9:04am
this looks VERY familiar to me... This indicator is essentially one of the variations of my smartstop with no horizontal shifts, only vertical shifts. The only difference is that aicccia has used the same indicator as an entry point as well.

Aicccia, because I've done extensive testing with this nearly exact same setup, I'll tell you now that it by itself, will not be profitable long term unless you can figure out some sort of buffer that I may have bypassed.

Tho it might have slightly different results because of how you have it drawn (based on physical trailing stop, and is still just MA's that Averages the trailing stop instead of PA) and with the added "mood" setups, this may very well be the ultimate indicator in the end, as I'm not a programmer, I couldn't go extensive or vastly advanced with my studies, but I suppose only time will tell.

Ok everyone, let the flame begin, I know ya all want to just bag on me for shits and giggles... so let er rip I guess.............
  • #104
  • Nov 4, 2009 9:23am Nov 4, 2009 9:23am
Quoting walb99
should be this one

Thank you Walb99.
  • #105
  • Nov 4, 2009 9:44am Nov 4, 2009 9:44am
Quoting WilteredFire
Okay guys theres a video I found just before this thread was started, I think it would be appropriate to share this here as it may help someone....

This youtube video is showing a method very similar to this, but I beleive there using a chandelier type of stop indicator in the video, in this video the guy doesn't mention though what method or indicators there using, But i think it may be using ATR in this method? Looks quite promising, small stops being the strong point so losses are kept small.

youtube.com/watch?v=CvifFRJKtIc...

They are using the Chandelier, I did a google search, and found this indicator on forex-indicators.net, it may not be exactly what your looking for/they are using, but it's a start. As for the entry, I'm not exactly sure what they are using, but it seems to be very effective. Hope it helps.

Attached File(s)
File Type: mq4 ChandelierExit.mq4   4 KB | 968 downloads
  • #106
  • Nov 4, 2009 9:59am Nov 4, 2009 9:59am
Quoting walb99
could you post your smartstop indi, that we can figure out the difference?
Here you go, this indicator was programmed by Swingman, and is missing one major rule (that is really only considered when a trade is active)

The additional rule is this.

In a up trend, if a trade is active, and the MA retraces down, do not adjust stoploss, only adjust stoploss when MA's make higher highs, not lows, opposite applies for down trends.

and it also doesn't give the options in this particular version to vert shift, but I've included the source code as well so you can modify it to include said features.

Attached File(s)
File Type: ex4 Pharoah MovingAverages.ex4   2 KB | 635 downloads

Attached File(s)
File Type: mq4 Pharoah MovingAverages.mq4   3 KB | 795 downloads
  • #107
  • Nov 4, 2009 10:13am Nov 4, 2009 10:13am
Quoting walb99
Looks pretty much the same as in the video

example is taken from 30min TF
  • #108
  • Nov 4, 2009 10:34am Nov 4, 2009 10:34am
Guys one thing if i remember right in the video, it doesn't seem to be plotting as much of the Chandelier stops or these trailing stop type of lines as the chart that walb99 just kindly shared...

Maybe they were using some sort of filter to to only give signals when theres a higher higher or a lower lower perhaps?
  • #109
  • Nov 4, 2009 10:39am Nov 4, 2009 10:39am
Hey guys,

Sorry to say this, but if you want to introduce something new but has nothing to do with Carmen's system, please create a new thread.

Thanks
"Hands that help are holier than lips that pray" Shirdi Sai Baba
  • #110
  • Nov 4, 2009 10:47am Nov 4, 2009 10:47am
Quoting Greenmoney21
Hey guys,

Sorry to say this, but if you want to introduce something new but has nothing to do with Carmen's system, please create a new thread.

Thanks
Hey, if you followed my post from the previous page I actually shared something that may be of some good use to this thread and Carmens indicator so that we can get better results and maybe improve the indicator. Im not here to distract the thread or start chucking in a bunch of indicators and take this thread down another road.

Maybe you should go back to the previous page, and watch the video link I shared and you'll see the similaritys between Carmens indicator/setup and the one shown in the video?

If carmen says that this isn't useful to the thread or irrelevant. I'll stop posting
  • #111
  • Nov 4, 2009 10:58am Nov 4, 2009 10:58am
Quoting Greenmoney21
Hey guys,

Sorry to say this, but if you want to introduce something new but has nothing to do with Carmen's system, please create a new thread.

Thanks
It's a frely posted system, and as a result will be subject to individual modifications that WILL be posted.

I don't believe that anything we've posted thus far is anything different than what aicccia has posted, my smartstop is very similar to aicccia's system here, he/she has just taken it a few steps further, and the chandelier is also very similar to what aicccia's system is proposing. I think if anything, these two particular contributions will assist aicccia in his/her research and development.

BTW aicccia, please correct me on the he/she bit, because I honestly don't know.
  • #112
  • Nov 4, 2009 10:58am Nov 4, 2009 10:58am
Quoting walb99
There might be a problem in the fact that ChndelierExit is a commercial product. But I'm not so sure about it.
I dun think it is, it's freely available, does not cost a thing. Here is that particular versions home http://mqlservice.com/download.html.

Completely free, but is copyrighted to mqlservice.com. Not commercial at all
  • #113
  • Nov 4, 2009 11:37am Nov 4, 2009 11:37am
Quoting walb99
The concept is different. in the carmen eye the S-R -levels stay horizontal as long as the price is ranging, that's a big advantage.
This is where aicccia has taken it those extra steps.
  • #114
  • Nov 4, 2009 11:41am Nov 4, 2009 11:41am
Quoting Pharoah
this looks VERY familiar to me... This indicator is essentially one of the variations of my smartstop with no horizontal shifts, only vertical shifts. The only difference is that aicccia has used the same indicator as an entry point as well.

Aicccia, because I've done extensive testing with this nearly exact same setup, I'll tell you now that it by itself, will not be profitable long term unless you can figure out some sort of buffer that I may have bypassed.

Tho it might have slightly different results because of how you have it drawn (based...
Thanks for the heads-up, but including the non-extern variables, there are billions of possible configurations. I have a hard time believing that not a single one is profitable. Also, the indicator you've had experience and mine are not completely the same. Yours appears to be made up of a single line under or above the price.

My line can morph into a into a thick block if needed in choppy markets.
  • #115
  • Nov 4, 2009 11:47am Nov 4, 2009 11:47am
Quoting aicccia
Thanks for the heads-up, but including the non-extern variables, there are billions of possible configurations. I have a hard time believing that not a single one is profitable. Also, the indicator you've had experience and mine are not completely the same. Yours appears to be made up of a single line under or above the price.

My line can morph into a into a thick block if needed in choppy markets.
Nope, change your chart background color from black (or change the black line color to something other than black), there are 2 lines (if your talking about the smartstop indicator, and not the chandelier)

The reason it looks similar is because it uses the same essential properties, only like I've said in my previous post, you've made it more advanced in the respect of properly locating more significant levels of S&R by setting your MA's to be that of a trailing stop, which is sized depending on the "mood" of the market. These are things that I myself could not do, or even really consider as a possibility because I do not have programming abilities. This is by all means your baby don't get me wrong. I just find it interesting how similar they are, and thought that you might be able to benefit from my indicator to help improve yours.
  • #116
  • Nov 5, 2009 12:44am Nov 5, 2009 12:44am
Very studpid question, but here it is:

Why did you name this indicator "carmens eyes"?
/ ... clarifying decisions ... /
  • #117
  • Nov 5, 2009 1:27am Nov 5, 2009 1:27am
till now i really had no ideas on when to enter... i am looking at M1 TF and using Gann Hilo as an aid as well. can anyone assist me?

I have attached GBPUSD 1MIN TF and EURUSD 1MIN TF. It seems like for EURUSD, only can see the white line, the yellow and blue line are right at the bottom of the screen.

Thanks
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 78 KB
Click to Enlarge Name: Capture1.JPG Size: 73 KB
  • #118
  • Nov 5, 2009 1:56am Nov 5, 2009 1:56am
Try to adjust "expand_rate" setting.

Based on my testing, different "expand_rate" setting will put the Blue and Yellow channel in different position.

I suggest when using on M1, try to set 25.0 instead of default 75.0

~profi~
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
  • #119
  • Nov 5, 2009 3:57am Nov 5, 2009 3:57am
Quoting profi4554
Try to adjust "expand_rate" setting.

Based on my testing, different "expand_rate" setting will put the Blue and Yellow channel in different position.

I suggest when using on M1, try to set 25.0 instead of default 75.0

~profi~
ok, thanks. but how to enter and exit? do u mind if u can explain visually? thanks
  • #120
  • Nov 5, 2009 4:20am Nov 5, 2009 4:20am
Quoting IllegalOps
ok, thanks. but how to enter and exit? do u mind if u can explain visually? thanks
Well here you go.

Here what it looks like on EU. Top pic is M1 and bottom is M5. The magenta dotted line is the Daily Pivot based on my other indi.

Hope this will help.

~profi~
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu0511_m1.jpg Size: 91 KB
Click to Enlarge Name: eu0511_m5.jpg Size: 94 KB
~ Let the TRADES come to you - be a TRAPPER not a HUNTER ~
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