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Attachments: The CARMEN System Indicator
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The CARMEN System Indicator

  • #461
  • Dec 1, 2009 5:05am Dec 1, 2009 5:05am
Quoting aicccia
this does not bother me at all, and in fact collaberation was one of the reasons I posted this indicator in the first place.

I took a look at the Awesome indicator and its plain that I eneed to make the indicator account for trending and ranging conditions better.

The idea I have is to make the width between the channel fluctuate, so that a trending market would make the width small and a ranging market would make the width large....

Aicccia

I no nothing about coding, and little about indicators in general, so please forgive me for sounding so ignorant.

I would like to make a comment in regards to your your above post. You indicate that the Chanel widens in ranging and the opposite in trending markets and that so far this is the aim of the indi. However, whenever price and line cross the chanel, it is always at the chanels widest. The chanel only narrows after the line crosess and price begins to trend. Therefore in my humble observations, widening the chanel when price is ranging will mean that all entries will have a wider chanel.

Please correct me if I am wrong and I hope nobody takes this post the wrong way. I am very greatful for your work and sharing of this indi.
What you do is a reflection of you....what I do is a reflection of me.
  • #462
  • Dec 1, 2009 5:07am Dec 1, 2009 5:07am
Quoting wvehoven
Just an idea, I am not a programmer and I do not know if it is doable.
I LOVE the BAT ATR, it is some sort of TS just like Carmen, but instead of following price at xpips of distance, it uses ATR of the last x candles multiplied by a factor, optimizable as one chooses. Perhaps carmen as well can follow price based on an atr ratio.
If you can correlate the multiplication factor used to the adx value(which should be increasing while trending and decreasing in a ranging market, you might get what you want.
Hope it makes sense.
it does make sense, thanks for the great tip!
  • #463
  • Dec 1, 2009 5:12am Dec 1, 2009 5:12am
Quoting Ezzy
Aicccia

I no nothing about coding, and little about indicators in general, so please forgive me for sounding so ignorant.

I would like to make a comment in regards to your your above post. You indicate that the Chanel widens in ranging and the opposite in trending markets and that so far this is the aim of the indi. However, whenever price and line cross the chanel, it is always at the chanels widest. The chanel only narrows after the line crosess and price begins to trend. Therefore in my humble observations, widening the chanel when price...
right now the channel never changes in width. the width seems to changes when its trending because both lines are falling or rising, however its just a sort of optical trick.
  • #464
  • Dec 1, 2009 5:13am Dec 1, 2009 5:13am
Quoting aicccia
right now the channel never changes in width. the width seems to changes when its trending because both lines are falling or rising, however its just a sort of optical trick.
Got it, thanks.
What you do is a reflection of you....what I do is a reflection of me.
  • #465
  • Dec 1, 2009 5:46am Dec 1, 2009 5:46am
Quoting Ezzy
Look out for gu on the 1hr, it's given a buy signal, however signal bar is huge and sl is a bit large, anyway, taken it. I hope that it doesn't bite me in the a..
Hit TP, 68 pips in the bag http://cdn.forexfactory.com/images/icons/icon10.gif

Thanks aicccia!!
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 27 KB
What you do is a reflection of you....what I do is a reflection of me.
  • #466
  • Dec 1, 2009 6:40am Dec 1, 2009 6:40am
Quoting Ezzy
Hit TP, 68 pips in the bag http://cdn.forexfactory.com/images/icons/icon10.gif

Thanks aicccia!!
Well done Ezzy..i am still in up +54 my entry was 1.6545.Keeping one eye open for that red flag which is comming up in a couple hours.
  • #467
  • Dec 1, 2009 6:48am Dec 1, 2009 6:48am
Maybe someone can compile carmen to .mq5?

I couldnt, too many errors.
  • #468
  • Dec 1, 2009 6:53am Dec 1, 2009 6:53am
Just wondering if the EA will able to do the following:

 

  1. Place SL as the lower channel if buying or upper channel if selling
  2. Close a certain user specified percantage ie 50% of your position and let the remaining percentage to stay in any potential trend


See attached image.

Attached Image (click to enlarge)
Click to Enlarge Name: stop loss position.jpg Size: 118 KB
  • #469
  • Dec 1, 2009 6:59am Dec 1, 2009 6:59am
Quoting juhanimi
Maybe someone can compile carmen to .mq5?

I couldnt, too many errors.

Hi,

Is the new Meta trader out...and is it called MT5??...Just wondering why u want mq5.

Nice day today again on carmen...missed some action..but got into EURJPY and GU earlier today, came back to meet TP on both... I set TP and SL on both trades when I took becos I was not around to monitor it. Nice..but very risky.

Ezzy, I love ur 1hr ...I also use higher TF to set TP and SL....very nice. I also noticed that u called it....hope others got on board.
  • #470
  • Dec 1, 2009 7:01am Dec 1, 2009 7:01am
Quoting Ibuks
Hi,

Is the new Meta trader out...and is it called MT5??...Just wondering why u want mq5.
Yes, google "download metatrader5".
  • #471
  • Dec 1, 2009 7:06am Dec 1, 2009 7:06am
Quoting juhanimi
Maybe someone can compile carmen to .mq5?

I couldnt, too many errors.
mlq4 and mlq5 are not as similar as metaquotes would like you to think
  • #472
  • Dec 1, 2009 7:07am Dec 1, 2009 7:07am
Quoting Jaula
Just wondering if the EA will able to do the following:

 

  1. Place SL as the lower channel if buying or upper channel if selling
  2. Close a certain user specified percantage ie 50% of your position and let the remaining percentage to stay in any potential trend

See attached image.

yeah you'll be able to do that
  • #473
  • Dec 1, 2009 7:12am Dec 1, 2009 7:12am
Quoting aicccia
mlq4 and mlq5 are not as similar as metaquotes would like you to think
Yes, feeling is like they want to do everything more difficult.
For example, there is no option to put momentum in main window.
But I dont know.
  • #474
  • Edited 7:49am Dec 1, 2009 7:32am | Edited 7:49am
Last buy signal is doing very well...I decided instead of using the 2 trailing lines as TP, just use the original aicccia's method as my exit point, i.e., wait for the white line closes above/below the blue/yellow line.

So far, the buy signal still holding. Once again, thanks aiccia for this great indicator.

Would be nice to have an alert indicator to sound an alert when the white line has crossed 5 pips(user selectable) above/below the blue/yellow lines.

p.s. to get this massive pips, I had to stay up all night....extremely tired now! An alert indictaor would be a great add-on.
Also I'd like to add to catch this uptrend, I had 4 whipsaw trades which cost me approx. 12 pips. each!
Attached Image (click to enlarge)
Click to Enlarge Name: gpbusd_longtrade.jpg Size: 83 KB
  • #475
  • Dec 1, 2009 7:49am Dec 1, 2009 7:49am
Quoting candletrader
Last buy signal is doing very well...I decided instead of using the 2 trailing lines as TP, just use the original aicccia's method as my exit point, i.e., wait for the white line closes above/below the blue/yellow line.

So far, the buy signal still holding. Once again, thanks aiccia for this great indicator.

Would be nice to have an alert indicator to sound an alert when the white line has crossed 5 pips(user selectable) above/below the blue/yellow lines.

p.s. to get this massive pips, I had to stay up all night....extremely tired now! An...

Hi Candletrader,

Is this on 4hr TF?...whaooo. All u need per day is one of this kind of trade with massive pips. Congrats. I advice u go and sleep now...lol...with this many pips...u dont need another for today...lol
  • #476
  • Dec 1, 2009 7:52am Dec 1, 2009 7:52am
Quoting Ibuks
Hi Candletrader,

Is this on 4hr TF?...whaooo. All u need per day is one of this kind of trade with massive pips. Congrats. I advice u go and sleep now...lol...with this many pips...u dont need another for today...lol
I use the 1min. timeframe as originally posted by aicccia. Thanks and good day.
  • #477
  • Edited 1:13pm Dec 1, 2009 12:39pm | Edited 1:13pm
I have spent the past few days reading up on this Carmen Eyes indicator and testing it (yes, on my live account), and I must say how surprised and pleased I am with it. The author has done a splendid piece of work, and I really appreciate his sharing it with our forum members. As the 1 minute chart is a little too rapid-fire for me, I use the Carmen primarily on a 5 minute chart. And, I have elected to use it in its most basic form: a white line, blue line and yellow line. It does a great job of helping me decide whether to get in and/or and stay in a trade or not. As for the indicator settings, I've adopted SkyzerFX's parameters:

Display_TakeProfit=false

Set_One
75
20
10

Set_Two
30
35
20
10

Set_Three
50
40
20
10

Set_Four
70
30
15
10

Well Done and Thank You!
  • #478
  • Dec 1, 2009 12:42pm Dec 1, 2009 12:42pm
Carmen gave me 192 pips today on GBPUSD.



Thank you
  • #479
  • Dec 1, 2009 2:14pm Dec 1, 2009 2:14pm
Quoting Cain
Carmen gave me 192 pips today on GBPUSD.



Thank you
What time frame do you use? I prefer using the 5 min tf and 1 hour.
  • #480
  • Edited 4:09pm Dec 1, 2009 3:20pm | Edited 4:09pm
Quoting Jaula
What time frame do you use? I prefer using the 5 min tf and 1 hour.
You guys must be lucky geniuses , but so far I cannot find the way to trade

anything below 1H TF, too much noise, too many fake crosses

back and forth.. Also right now I'm mixing Carmen with different Indies..

Anything below 30M TF is Russian Roulette..

On live account I still using H4 to decide entry and M15 for better entry.

Will report if anything positive happens. I'll figure out something, but need more time.
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