The CARMEN System Indicator | Page 44 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Please suggest a simple & effective Method/System of "Trading System" Forum to newbie 182 replies

The System Behind the System, by Merlin Jeffries 16 replies

200 Ema system - help me build a system ! 19 replies

Knife system, Vegas 4h system related questions. 4 replies

Would you trade this system? New system #2. 10 replies

Attachments: The CARMEN System Indicator
Exit Attachments

The CARMEN System Indicator

  • #861
  • Dec 20, 2009 11:40am Dec 20, 2009 11:40am
Quoting tahiti
If this works, I reckon that it will not work for long.

Why?

Because as soon as a thousand or so people start taking the same identical trades and consistently making money, their combined presence in the market will start to weight it and the market will start to stall at Carmen levels and behave differently suddenly, and ultimately then start to go against Carmen trades.

I've noticed it time and time again with other good systems over the last 8 years.

Just watch and see.
This is not so. The world-wide foreign exchange market is so huge (hundreds and hundreds of billions changing hourly), that no small-scale operation such as a couple of hundred retail traders such as us could affect the market swings. It's the big boys, the market movers (broker houses such as FXCM, etc.) who can affect the market in this manner.

Cheers.
  • #862
  • Dec 20, 2009 11:47am Dec 20, 2009 11:47am
Quoting aicccia
...But there is a secret about carmen that I have not talked about.

Imagine a "W".
Now imagine an "M".

They are the same symbol, just reversed.
Carmen can trade the market the same way. Just change a few settings and the lines will be completely different, but still profitable....
Ahh... perhaps you could offer a couple of suggestions regarding the "quick changes" we can make to Carmen. I, for one, would like to experiment a bit with various settings, but don't know which ones to modify. Thanks for any advice you might have to offer in this area.

Merry Christmas!
Ed
  • #863
  • Dec 20, 2009 12:17pm Dec 20, 2009 12:17pm
aicccia,

Thanks as always for sharing and your hard work. One problem I have is being able to distinguish between the green and the red. I fooled with the colors a bit but when I made the changes it seemed to affect how the indicator changes colors. Any suggestions?

PT
Zone Breakout Method
  • #864
  • Dec 20, 2009 12:29pm Dec 20, 2009 12:29pm
first, thanks so much aiccia for the newest and best yet indicator, which seems even better than the previous ones. Can anyone point out which thread Jollyroger was refferring to in a recent post on the forum to help in combining aspects of with Carmen -
thanks alot
traderdp
  • #865
  • Dec 20, 2009 1:11pm Dec 20, 2009 1:11pm
Quoting traderdp
first, thanks so much aiccia for the newest and best yet indicator, which seems even better than the previous ones. Can anyone point out which thread Jollyroger was refferring to in a recent post on the forum to help in combining aspects of with Carmen -
thanks alot
traderdp
The thread is Mp -- 350 Pips Daily And All The Ice Cream You Can Eat ! on this forum. This is the last time I mention this thread on Carmen since it really has nothing to do with Carmen and I don't wish to intrude on Aiccia's thread. The thread is no longer active since the thread starter was suspended from FF.
  • #866
  • Dec 20, 2009 8:34pm Dec 20, 2009 8:34pm
Hi, i place e indicator again on a GBPUSD 1Min TF.. but however it seems to have all the same color... (see attached), is there anything wrong? thanks
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 151 KB
  • #867
  • Dec 20, 2009 8:40pm Dec 20, 2009 8:40pm
Quoting KPForex
Hi, i place e indicator again on a GBPUSD 1Min TF.. but however it seems to have all the same color... (see attached), is there anything wrong? thanks
My chart looks about the same as yours. I don't think there is anything wrong - Carmen is just trying to keep us out of trouble.
  • #868
  • Dec 20, 2009 9:35pm Dec 20, 2009 9:35pm
Hello Aicccia,

Below are the all possible scenario in concise form. Could you please confirm if it is correct.

Green Channel with MA turns Yellow outside the channel – Enter trade.
Green Channel with Yellow MA turns Green – Close half position.
Green Channel with Yellow/Green MA passes through opposite side of channel – Close remaining positions and open a new trade in the opposite direction.
Red Channel with Green/Yellow MA passes through opposite side of channel – Close remaining positions and Stand aside.
Red Channel with Red MA – Stand aside.


Regards
  • #869
  • Dec 20, 2009 11:57pm Dec 20, 2009 11:57pm
Having fun tonight watching and learning as Carmen does what she does. Aiccia, is there any way to be pair-specific in the pop-up alert when she tells us to close our positions and open a new trade - like she does when its time to open a new trade?
I feel more like I do now than I did a little while ago...
  • #870
  • Dec 21, 2009 12:51am Dec 21, 2009 12:51am
Hello Aicccia,

Here is my first live trade.

According to the rule, MA should turn from Yellow to green based on Quick_profit parameter which has 8 pips as default value.

As you can see from the attached pic, price has moved downwards for more than 20 Pips after the entry (Red Arrow), but it hasn't turned green yet. I had to manually closed my half position for 15 pips.

Am I missing something.

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenShot.png Size: 26 KB
  • #871
  • Dec 21, 2009 1:05am Dec 21, 2009 1:05am
Channel Turned red. MA turned red (Gray circle). Out with remaining position with 15 pips

15 + 15 = 30 Pips.

Is this correct?

Regards
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenShot.png Size: 26 KB
  • #872
  • Dec 21, 2009 4:13am Dec 21, 2009 4:13am
Hi Aicccia,
perhaps a small change on the next update :
Sometimes the Alarm window doesnt show which curreny pair is ment.
Its only clear if you open the the expert window....

Regards

Chievo
  • #873
  • Dec 21, 2009 5:00am Dec 21, 2009 5:00am
Where can i download Carmen v4.01?? The attached file carmen eyes.ex4 is only 13.8kb. I guess that that file is only a update and not the program???
  • #874
  • Dec 21, 2009 6:27am Dec 21, 2009 6:27am
Hey badpojken, look up "indicators in metatrader" in google to help develop your understanding of it's file system and how indicators work
  • #875
  • Dec 21, 2009 7:20am Dec 21, 2009 7:20am
Just to report that CARMEN seems to be working quite nicely with other pairs.

GBP CAD SHORT 110pips 10:15GMT
EURGBP LONG 20pips 11:10 GMT.

The other pais (e.g. JPY) seem to be responding OK as well. The EA is surely missed.

Thanks once again to the creator of this lovely lady "CARMEN".
  • #876
  • Dec 21, 2009 7:40am Dec 21, 2009 7:40am
Quoting astral77
Just to report that CARMEN seems to be working quite nicely with other pairs.

GBP CAD SHORT 110pips 10:15GMT
EURGBP LONG 20pips 11:10 GMT.

The other pais (e.g. JPY) seem to be responding OK as well. The EA is surely missed.

Thanks once again to the creator of this lovely lady "CARMEN".
Hi Astral, i just put this on a EURGBP 1MIN TF, but how come i see nothing? please see attached... so there are only 3 colors to see rite?
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.JPG Size: 139 KB
  • #877
  • Dec 21, 2009 8:31am Dec 21, 2009 8:31am
Hi Guys, im a newbie and now testing this indicator on my demo account.. what about SL? i cannot find any information on setting up SL level on the 1st page..
Does it mean that we dont need to set SL when using this indicator?
  • #878
  • Dec 21, 2009 8:38am Dec 21, 2009 8:38am
HI

You are right that there were only three colours (no yellow confirmation), If I see direction candles and no change of colour to yellow I will take the trade. I notice from your chart that the indicators were RED in colour when movement started however, on my platform it had turned Olive earlier. I have noticed that the indicator looks slightly different with different brokers ( I have it running on FXCM, Forex.com& IBFX). Please see attached which is from Forex.com account.

regards
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP21dec.jpg Size: 98 KB
  • #879
  • Dec 21, 2009 8:52am Dec 21, 2009 8:52am
HI

It is noteworthy that Carmen seems to preform as well in other pairs for instance this nice 10 pip LONG in EURCHF less than 45 minutes ago. Please bear in mind that the creator of Carmen has created this for GBPUSD only and one should not deviate from that. However, for future developments we should collect enough data to identify other suitable pairs as well.
Attached Image (click to enlarge)
Click to Enlarge Name: EURCHF21dec.jpg Size: 94 KB
  • #880
  • Dec 21, 2009 10:58am Dec 21, 2009 10:58am
Quoting aicccia
make sure you have v4.01. There were one or two bugs that go released in the v4.00 version.
Hi Aicccia

you have created something quite unique here. I have been testing it during the London session all day today with 14 different pairs. I like the feature of constantly reminding you with messsages (i.e. close position, marekt ranging, etc), to keep out of trouble. The system demands constant price watch and for most of us who have jobs the EA would be very useful. I guess the EA would also stop people from jumping the gun and taking chances when the market conditions are not optimum.

Just one question, sometime it comes with message "open a NEWS Trade". What is meant by this?

Regards
1 trader viewing now