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TCO Trader EA

  • #21
  • Jun 5, 2013 8:50pm Jun 5, 2013 8:50pm
Subscribed, and looking forward to where this thing ends up, especially since we are already starting with a great method, it would seem.

Thanks for starting the thread, TCO.

Scott
Prices are never too high to begin buying or too low to begin selling.
  • #22
  • Jun 5, 2013 9:26pm Jun 5, 2013 9:26pm
TCO,

Thank you very much. I am subscribed.

I wait to try the EA and say you my opinions about it.

With regards,

Maudur
Enter Signature
  • #23
  • Jun 5, 2013 10:30pm Jun 5, 2013 10:30pm
Quoting TallCoolOne
Hi Guys, there may be an issue with the MACD trades, I think it is only taking longs. I will have to take a look at it. So please hold off on the using the MACD trend determination. Thanks!
TCO, I think in the MACD assignment line you need to use mode = 2, nor 0.

double MACD = iCustom(NULL, Trend_TF , "macd_adjustable", MACD_Fast , MACD_Slow , MACD_Signal , 3 , True , True , 2, 1);

With 2 you detect when the two EMAs cross.

With regards,

Maudur
Enter Signature
  • #24
  • Edited 3:03am Jun 6, 2013 12:05am | Edited 3:03am
Quoting 4xPIPAHOLIC
An improvement to this type of EA's (TCO or 100pips) would be an option of a minimum distance that one position has to have from another, cause I see a lot of positions are opened sometimes in some pairs that range at a certain point....this way you do not have 3 positions that are 3-5 pips with each other. Now I am not saying to make this grid trading, no...but every time the williams goes to the o/s or o/b the EA would have to check for a certain distance from the last position opened......but that is just my 2 cents.....



This is a good point and something worth looking into.


TCO, I am particularly interested in "1) Close All Open Trades On Opposite Signal - can be turned on or off"

If turned on when would the EA close all positions, when the MACD initially changes colour?

I personally would think it is best to let the D1 MACD close before closing all positions and changing direction as I have jumped the gun before manually when I saw a change in the histogram only for it to resume in the original direction the same day.
So when D1 MACD is close to changing it can flick from blue to red many times in the same day.
  • #25
  • Jun 6, 2013 2:39am Jun 6, 2013 2:39am
subscribed, tq
  • #26
  • Jun 6, 2013 2:57am Jun 6, 2013 2:57am
Hi TCO,

thanks you very much for this EA, I'm going to test it soon, if I got more familiarized with the different settings...

In any case, nice work and generosity from you...!

all the best and please stay tuned.....

Happy Trading, jdva
I never lose - either I win or I learn...
  • #27
  • Jun 6, 2013 3:43am Jun 6, 2013 3:43am
TCO, the 100Pips EA requires NO EMA 20/50 cross, just below/above for trend confirmation:

"Price needs to be above / below BOTH the 20 EMA and 50 EMA on the Daily chart. Above = BUY Below = SELL"

How does your EA determine trend? EMA cross often gives later signals...IMHO.

HT jdva
I never lose - either I win or I learn...
  • #28
  • Jun 6, 2013 3:45am Jun 6, 2013 3:45am
Hi TCO. In your first post you say:
Quote
Higher TF Trend Modes - can be set to whatever Higher TF you desire, the EA is designed to work with one method so if you mark one true, mark the others false.
Ichimoku - Tenkan Sen/Kijun Sen cross, with a Kijun Sen trailing stop feature.
20/50 EMA Cross – 100PipsADay's basic strategy, however it enters on close of the lower TF bars
Adjustable MACD Trend above/below zero – based on Third Screen MACD strategy
The trend shift in the 20/50 EMA method is price crossing both EMA's, and not the EMA's crossing each other.

Fahmi
Always try just one more time...
  • #29
  • Jun 6, 2013 4:52am Jun 6, 2013 4:52am
Hi,

There is an update in Post 1. I removed TCO_Trader v1.0.mq4 and added TCO_Trader.mq4. This has the MACD Trend Determination correction, it should now take buys and sells. Sorry for the any confusion and inconvenience.

Also, I have decided to always keep the EA name the same and the versioning will be kept internal in the EA comments and also on the screen display comments. I believe this will make it easier to update your platforms with the newer EAs as we go. You should be able to just copy the new EA to your platform and recompile it or shut down and restart. I hope I hope.

Thanks for the comments and interest. I will try to address any questions that I can.
  • #30
  • Jun 6, 2013 4:54am Jun 6, 2013 4:54am
Quoting pirt666
Hi TCO. In your first post you say: {quote} The trend shift in the 20/50 EMA method is price crossing both EMA's, and not the EMA's crossing each other. Fahmi

Hi Pirt, you are absolutely correct. This is not an EMA cross system, the price just needs to be above both the 20 and 50 EMAs for a buy and both below for a sell. Sorry for the confusion. I have edited post 1 and removed the "cross" . The EA was code correctly, just the post was incorrect. Thanks - good catch.
  • #31
  • Jun 6, 2013 4:55am Jun 6, 2013 4:55am
Quoting jdva
TCO, the 100Pips EA requires NO EMA 20/50 cross, just below/above for trend confirmation: "Price needs to be above / below BOTH the 20 EMA and 50 EMA on the Daily chart. Above = BUY Below = SELL" How does your EA determine trend? EMA cross often gives later signals...IMHO. HT jdva

You are correct, the EMAs do not have to cross. The EA is code correctly, just my comments were bad. Thanks!
  • #32
  • Jun 6, 2013 5:07am Jun 6, 2013 5:07am
Hi Guys,

Just checking out this ea. Great job TCO.
  • #33
  • Jun 6, 2013 5:09am Jun 6, 2013 5:09am
Quoting 4xPIPAHOLIC
An improvement to this type of EA's (TCO or 100pips) would be an option of a minimum distance that one position has to have from another, cause I see a lot of positions are opened sometimes in some pairs that range at a certain point....this way you do not have 3 positions that are 3-5 pips with each other. Now I am not saying to make this grid trading, no...but every time the williams goes to the o/s or o/b the EA would have to check for a certain distance from the last position opened......but that is just my 2 cents.....

Hi 4xPIPAHOLIC, I see what you are saying, but I think that is the nature of this strategy. Sometimes you are going to load up a bunch of trades in a range, and you may reach your trade max in that range, but if the prices takes off, your profits will be great. If you limited your trade entry with a pip step then you may have only had one trade that hits profit and not multiple trades. I think this strategy is designed to load up in retracements and then when the trend gets moving again, you will reap the rewards. So....I think the pip step idea sounds good and is a conservative approach, but it may make this strategy and the EA a lot less profitable. We can look at adding it as a future enhancement and see if in testing it has legs. That is what I think anyways. Might be good to hear from the others on this. Thanks!
  • #34
  • Jun 6, 2013 5:17am Jun 6, 2013 5:17am
Quoting normtold
{quote} This is a good point and something worth looking into. TCO, I am particularly interested in "1) Close All Open Trades On Opposite Signal - can be turned on or off" If turned on when would the EA close all positions, when the MACD initially changes colour? I personally would think it is best to let the D1 MACD close before closing all positions and changing direction as I have jumped the gun before manually when I saw a change in the histogram only for it to resume in the original direction the same day. So when D1 MACD is close to changing...

Hi Normtold, when you turn off the "Close All Open Trades On Opposite Signal" switch, the EA will manage trades strictly by TP and SL. It may try to open trades in opposite directions too. So we may need to look at that. I'm not sure how 100PipsADay handles this situation. Once, a buy is triggered, does he stay with that buy until it hits tp or sl and won't open any opposite trades? I'm in the US and we are not allowed to hedge, so I would get an error message. I'm not sure we want to hedge for traders outside of the US. I'm looking for some guidance on this guys. Thanks!
  • #35
  • Jun 6, 2013 5:18am Jun 6, 2013 5:18am
Quoting maudur
{quote} TCO, I think in the MACD assignment line you need to use mode = 2, nor 0. double MACD = iCustom(NULL, Trend_TF , "macd_adjustable", MACD_Fast , MACD_Slow , MACD_Signal , 3 , True , True , 2, 1); With 2 you detect when the two EMAs cross. With regards, Maudur

Thanks Maudur. I think I have the issue fixed. I ran some quick back test on visual mode this morning and it seems to be working now. The fix is in post 1. Thanks!
  • #36
  • Jun 6, 2013 5:24am Jun 6, 2013 5:24am
For everyone who thanked me for opening the thread - YOU ARE WELCOME!!! I hope this will make administrating the EA development easier. Thanks for your interest. Please please please use good judgement before going live. Please back test and forward test. I would forward test this for a good month before even thinking about going live. Please use good money management, and set the OrderDelay and MaxOrders so that you can trade all the pairs you want and safely without being in danger of margin call. Thanks - TCO
  • #37
  • Jun 6, 2013 5:50am Jun 6, 2013 5:50am
Thank you very much for the input, now I'm testing the EA in 1H timeframe. Wait for results to comment. What timeframes recomendais??

Thank you very much, great job.
  • #38
  • Jun 6, 2013 5:52am Jun 6, 2013 5:52am
Quoting TallCoolOne
{quote} Hi 4xPIPAHOLIC, I see what you are saying, but I think that is the nature of this strategy. Sometimes you are going to load up a bunch of trades in a range, and you may reach your trade max in that range, but if the prices takes off, your profits will be great. If you limited your trade entry with a pip step then you may have only had one trade that hits profit and not multiple trades. I think this strategy is designed to load up in retracements and then when the trend gets moving again, you will reap the rewards. So....I think the pip step...
I understand what you are saying and you may be right.....I always think about how I can protect the account.....cause in the past whenever I used to think about the profits it cost me.....
I am thinking when we have the major market turn multiple positions like this could be deadly to the account..... but let's think about the last pullback we had......it pulled back quite beep......if it was a major pullback most of the time it would bounce a little higher and it would come down again.....it would add more positions(at the same level as previous) .....and roll over for good, with all these positions
Anyways when we have that major market turn we will see more about this strategy......

4x
  • #39
  • Jun 6, 2013 5:52am Jun 6, 2013 5:52am
TCO, I'm setting up a new demo account to test your ea for scalping M5 using H1 MACD for trend. Are these correct MACD settings for trading on the M5 chart? (standard settings 12.24.9 multiplied by 12). Please advise.

Fahmi
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Always try just one more time...
  • #40
  • Jun 6, 2013 5:56am Jun 6, 2013 5:56am
why hast multiplied by 12?? MACD that would class values ​​if we used in 1H??.
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