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TCO Trader EA

  • #781
  • Jun 27, 2013 5:16am Jun 27, 2013 5:16am
Quoting TallCoolOne
{quote} Hi Sasco_me, why would it hit it's stop loss at the same moment it opened the new trade. The SL would be reset once the new trade is created. Please confirm. Thanks!
Hi TCO
Thanks for your reply may be i can't express what i want i'll give you an example
assume if the EA open buy order EURUSD at 1.3050 with sl @1.2950 and [email protected] in this case trend confirmation either MACD or MA cross or ICH will be in buy mode and WPR will be in OS
in case the market go against us and EURUSD go down and SL triggered at 1.2950 in this case we have the probability that Tend confirmation still in buy mode but 100% WPR will be in OS
so the EA will open another order at the same time the previous order closed
So all the EA need is sleep time before open another order
THANKS TCO
I'm not a programmer and i don't like ! , but only I try to catch my view !
  • #782
  • Jun 27, 2013 5:18am Jun 27, 2013 5:18am
Quoting rockrobb
{quote} Tetap semangat,kawan....
Salam kenal rockrobb,
It's all 'bout the dum dum...
  • #783
  • Jun 27, 2013 6:18am Jun 27, 2013 6:18am
Quoting Mones
{quote} Basicly you're saying; Let's not use a TP... If you can't reach the target, why use it? Lol
Yes and No

You still want the TP to be there though, for these cases:

  1. Quick Spike in the market which happens faster than EA can change your order
  2. You temporarily don't have internet access
  3. MT4 is not running

Better to have the TP there to bank the profits than missing the opportunity altogether? Without TP all you have left is SL. Moving TP just out of reach in a normal slow trending market though, may just earn a few more pips than you originally planned on. Of course, if you trade 24/7 and manage trades actively and is emotionally stable, you do not really need either SL or TP!

  • #784
  • Jun 27, 2013 7:33am Jun 27, 2013 7:33am
Quoting HandsGod
Dear fellow trader, Dear TallCoolOne, For the first, I'm sorry if my english not good , This is my story, I've been following the discussion about this EA for some time, I am the traditional trader who does not like EA because I have had bad experiences with it, So we finally decided to start looking for the "holly grail" of our own, Initially we were alone trade, passed the peak and valley forex candlestick daunting, We divide the 12-hour trading time for each person because forex running 24/5. I know we're still a beginner, but management...

Hi HG, I bought this book about 3 years ago and it has been very helpful to me - Expert Advisor Programming for MetaTrader 4.

Check it out here: http://www.expertadvisorbook.com/

It is easy to read. Will help you to develop a good shell EA with many features. I hope that helps. Good Luck.
  • #785
  • Jun 27, 2013 8:06am Jun 27, 2013 8:06am
Quoting Sasco_me
{quote} Hi TCO Thanks for your reply may be i can't express what i want i'll give you an example assume if the EA open buy order EURUSD at 1.3050 with sl @1.2950 and [email protected] in this case trend confirmation either MACD or MA cross or ICH will be in buy mode and WPR will be in OS in case the market go against us and EURUSD go down and SL triggered at 1.2950 in this case we have the probability that Tend confirmation still in buy mode but 100% WPR will be in OS so the EA will open another order at the same time the previous order closed So all the...

Hi Sasco, so what you are saying if we have a trade close (profit or loss?) we want to use our normal OrderDelay from the closed trade before opening a new trade? Is that correct? I can see what I can do. I have queried the closed trade history before. I don't think it will be too difficult. I will could see if I can get it into 1.4

1.4 update - I'm close to being done ( I think..I hope). It appears that all the trend methods are working. I'm also allowing the trader to select all 4 methods for one chart if they want. It looks like stochastic is working, but i'm not seeing a big difference as compared to WPR%, but this is backtesting, maybe forward testing will show a difference. Also with the help Darkgsg, I added the order send/modify delay logic to avoid the 141 errors. Thanks!
  • #786
  • Jun 27, 2013 8:45am Jun 27, 2013 8:45am
Quoting TallCoolOne
{quote} I'm close to being done ( I think..I hope). It appears that all the trend methods are working. I'm also allowing the trader to select all 4 methods for one chart if they want. It looks like stochastic is working, but i'm not seeing a big difference as compared to WPR%, but this is backtesting, maybe forward testing will show a difference. Also with the help Darkgsg, I added the order send/modify delay logic to avoid the 141 errors. Thanks!
Correct. Forward testing will show a BIG difference in behaviour of stochastics in comparison to WPR, not back testing.

Pretty pumped up, can't wait for v1.4 release. Thanks TCO.
  • #787
  • Jun 27, 2013 9:07am Jun 27, 2013 9:07am
Hi TCO,

My AUD/USD sell trades are still open? I use MACD as trend, the trend has shifted to up, but my aud trades are still open and I have Closed on opposite signal on? Should the EA not close my sell positions on the Aud/usd?
  • #788
  • Jun 27, 2013 9:11am Jun 27, 2013 9:11am
Quoting jasper2603
Hi TCO, My AUD/USD sell trades are still open? I use MACD as trend, the trend has shifted to up, but my aud trades are still open and I have Closed on opposite signal on? Should the EA not close my sell positions on the Aud/usd?
Hi Jasper, did you get the appropriate opposite trade signal with the Williams% on the lower TF?
  • #789
  • Jun 27, 2013 10:01am Jun 27, 2013 10:01am
Quoting TallCoolOne
{quote} Hi Sasco, so what you are saying if we have a trade close (profit or loss?) we want to use our normal OrderDelay from the closed trade before opening a new trade? Is that correct? I can see what I can do. I have queried the closed trade history before. I don't think it will be too difficult. I will could see if I can get it into 1.4 1.4 update - I'm close to being done ( I think..I hope). It appears that all the trend methods are working. I'm also allowing the trader to select all 4 methods for one chart if they want. It looks like stochastic...
Hi TCO
Thanks exactly that is what i want
I'm not a programmer and i don't like ! , but only I try to catch my view !
  • #790
  • Jun 27, 2013 10:02am Jun 27, 2013 10:02am
Quoting TallCoolOne
{quote} Hi HG, I bought this book about 3 years ago and it has been very helpful to me - Expert Advisor Programming for MetaTrader 4. Check it out here: http://www.expertadvisorbook.com/ It is easy to read. Will help you to develop a good shell EA with many features. I hope that helps. Good Luck.
Thanks a lot, Great thank's to you, TallCoolOne,
It's all 'bout the dum dum...
  • #791
  • Jun 27, 2013 10:30am Jun 27, 2013 10:30am
Quoting TallCoolOne
{quote} Hi Jasper, did you get the appropriate opposite trade signal with the Williams% on the lower TF?
No, only MACD Daily trend has changed. As we speak the trend on the Aud/usd has switched again to downside on the daily with MACD method.

If I understand correctly then not only trend change but also W% has to give a signal in opposite direction before trades will be closed by EA?
  • #792
  • Jun 27, 2013 10:38am Jun 27, 2013 10:38am
Quoting jasper2603
{quote} No, only MACD Daily trend has changed. As we speak the trend on the Aud/usd has switched again to downside on the daily with MACD method. If I understand correctly then not only trend change but also W% has to give a signal in opposite direction before trades will be closed by EA?
Hi Jasper, close on opposite signal means if you have buy trades open. you will need to have a sell trade signal to close all the buy trades. Since you only have a trend direction change, and not a trade signal yet, the EA will not close the trades yet. Thanks!
  • #793
  • Edited 11:16am Jun 27, 2013 10:58am | Edited 11:16am
Hi All,

Firstly thanks to TCO, for this thread and well sending me the EA and other files before even this thread was started. I am pleased to see this thread grow and carry on the wonderful and easy strategy which was put forward by 100pips, and thanks too all the active contributors, you all know who they are

As for coming to the test phase of this EA, my observations are that this powerful EA has lot of potential, but I've not been able to get my head around using it properly as I've been testing other EAs so far, and meanwhile the versions have updated here.

I restarted a demo acc yesterday, and I am experimenting with '5 - long only/6 - short only' trend strategy options. I am using two extra indicators from FF to make sure I am on correct side of daily trend, and yes I am here to share and care for all, but don't want to mix up and add more indicators so not posting anything to make it confusing. Feel free to ask by email or if TCO is happy, I am more than willing to share it all.

My thinking is as below:

After going through good and bad phases of trend strategy demo accounts, I've realized that I won't be able to make each and every pip out of the market, but if I learn how to make most of the pips without giving back any, I'll still be in green at the end of everyday/week. With this thought I moved on to understand the trend, and how to know if it is long or short . Now this is a question which has million answers and million questions, but I am just going to pick the one I feel comfortable and go with it. And I believe from my reading and trials of various systems that people on FF have already done a wonderful job at answering this question.

Once, I am confident of the long term trend which I've identified on daily charts, I am going to unleash the TCO EA for either long only or short only trades. For now I am thinking of 6 hour time delay and max 2 positions, these would be with fixed TP and SL.

With 2 positions I hope to be opening and closing min 1 and max 2 positions in 24 hours. I am thinking of experimenting with TP = 2 ATR, and SL= 1.5 ATR, or a similar proportion. Thinking behind this is that if we are on correct side of long term trend, we are less likely to hit SL and more likely to hit TP. As we'll be constantly hitting TP or SL, we'll also constantly be opening new positions, this way bagging all the pips and not exposing ourselves to sudden reversal and wiping out loads of pips due to multiple positions.

As I said, this are all thoughts right now, I am going to wait for ver 1.4 and start new demos and may be live trading someday.

This won't be completely automated strategy and I am happy to intervene once a day or more if markets go volatile, I am happy to do this because that way I am in contact with markets and constantly updaing myself with information and making sure I am keeping eye on each pair for reversal. I have also accepted the fact that making money isn't as easy and so happy to put in hours I can to make it full time job and also work fulltime as I do now to make it even more profiting

I'll wait to see what everyone else thinks about above, and I might keep editing the above (for good) as my brains keeps sending more ideas to my fingers

All the best..
  • #794
  • Edited 3:19pm Jun 27, 2013 3:08pm | Edited 3:19pm
I would just like to present another example of how using stochastics instead of WPR can improve your entry within the TSS strategy. Attach is the E/N charts. First chart shows where stochastics was not yet fully in overbought zone(both lines) but trade was open based on WPR even with my settings of OB/OS zone at -10 and -90. It was also open a couple of bars earlier meaning WPR already touch -10 OB zone. Had I taken the pics when the trade was actually taken using WPR like it shows a couple of bars back, stochs would probably be even further down from where it presently sat when I took the still shot. In fact as you can see price action continues it's uptrend and position moves into negative DD over 55 pips even though stochastics hasn't even entered OB yet.

Second chart shows my manual entry at OB zone using stochs where both line pretty much in Ob zone and have leveled off. Using stochastics would've prevented at least over 55 pips DD and only one position open instead of two.

This is just an example of one pair. I can attach examples of multiple pairs and the results would be the same. Add the DD to the amount of pairs you are trading and you're talking about triple digit DD easily.

Hope you guys find this helpful.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: E-N Hourly.jpg Size: 127 KB
Click to Enlarge Name: E-N Hourly II.jpg Size: 128 KB
  • #795
  • Jun 27, 2013 3:17pm Jun 27, 2013 3:17pm
Quoting MKFXTrader
I would just like to present another example of how using stochastics instead of WPR can improve your entry within the TSS strategy. Attach is the E/N charts. First chart shows where stochastics was not yet fully in overbought zone(both lines) but trade was open based on WPR even with my settings of OB/OS zone at -10 and -90. It was also open a couple of bars earlier meaning WPR already touch -10 OB zone. Had I taken the pics when the trade was actually taken using WPR like it shows a couple of bars back, stochs would probably be even further down...
Yeah I sort of agree and disagree lol. Don't like stochs. I'm using 20/50 still with success. Going off topic a bit I trade cable and today was a good example of pure price action trading using pivots.
Attached Image (click to enlarge)
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  • #796
  • Jun 27, 2013 3:36pm Jun 27, 2013 3:36pm
Quoting claudia1
{quote} Yeah I sort of agree and disagree lol. Don't like stochs. I'm using 20/50 still with success. Going off topic a bit I trade cable and today was a good example of pure price action trading using pivots. {image}
I agree. This is about the EA and it's efficient usage within Dr. Elder's system.
  • #797
  • Jun 27, 2013 3:37pm Jun 27, 2013 3:37pm
Quoting MKFXTrader
I would just like to present another example of how using stochastics instead of WPR can improve your entry within the TSS strategy. Attach is the E/N charts. First chart shows where stochastics was not yet fully in overbought zone(both lines) but trade was open based on WPR even with my settings of OB/OS zone at -10 and -90. It was also open a couple of bars earlier meaning WPR already touch -10 OB zone. Had I taken the pics when the trade was actually taken using WPR like it shows a couple of bars back, stochs would probably be even further down...
To give fair representation of the W%R, don't forget that the way the W%R enters quickly on some trades has been addressed with TCO adding the confirmation setting in his EA.

Here is my exact entry shown with that setting in use, about 32 pips draw down thus far ; how does it compare with your stochastic?

Attached Image (click to enlarge)
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It takes a lot for me to IGNORE you, but you can try.
  • #798
  • Edited 4:07pm Jun 27, 2013 3:56pm | Edited 4:07pm
Quoting Erebus
{quote} To give fair representation of the W%R, don't forget that the way the W%R enters quickly on some trades has been addressed with TCO adding the confirmation setting in his EA. Here is my exact entry shown with that setting in use, about 32 pips draw down thus far ; how does it compare with your stochastic? {image}
My manual entry is 1.67448 and I have posted an updated chart. Didn't go into DD very much when I took the actual trade. This IMO is a the most optimal entry. I'm not knocking WPR at all. I'm only pointing out the comparison based on Dr. Elder's suggestion of using Stochastics instead of WPR. He considers the use of stochastics as conservative.
Attached Image (click to enlarge)
Click to Enlarge Name: E-N Hourly.jpg Size: 127 KB
  • #799
  • Jun 27, 2013 4:55pm Jun 27, 2013 4:55pm
Quoting MKFXTrader
I would just like to present another example of how using stochastics instead of WPR can improve your entry within the TSS strategy. Attach is the E/N charts. First chart shows where stochastics was not yet fully in overbought zone(both lines) but trade was open based on WPR even with my settings of OB/OS zone at -10 and -90. It was also open a couple of bars earlier meaning WPR already touch -10 OB zone. Had I taken the pics when the trade was actually taken using WPR like it shows a couple of bars back, stochs would probably be even further down...

Hi MKF,

You gave a good example of how it works with the stoch (stochastic) approach.
There is however another side to this coin : You will miss trades because the stoch will not reach the required lines -20 or -80. In that case, you might miss a good trade.
A few examples happened just a few hours ago :

1) Buy cadjpy at 9172 6 at 1800 hr.
2) Buy audjpy at 91.10 at 19:30 hr.

For both trades, the stoch did not make it, but the regular ea took the trades.

Both these trades are 25 to 30 pips in profit at the moment. of course it is difficult to say what the endresult will be.
What I want to point out however is : It is very difficult to compare both methods and to make a decisive choice for one of them.

The stochastic approach : more conservative, less trades, less drawdown ( less profit perhaps)
The usual approach : more aggressive, more trades, more drawdown ( more profit perhaps, because more trades).
  • #800
  • Jun 27, 2013 5:14pm Jun 27, 2013 5:14pm
Quoting rexio
{quote} Hi MKF, You gave a good example of how it works with the stoch (stochastic) approach. There is however another side to this coin : You will miss trades because the stoch will not reach the required lines -20 or -80. In that case, you might miss a good trade. A few examples happened just a few hours ago :
That may be true in some instances, but personally I want to trade as efficiently as possible, by taking the conservative approach. Since It allows me to trade many more pairs, my risk is spread out more evenly. So in the end, it all works out, IMO. Besides, my order delay is either set to 8 hours or 12 hours. I haven't decided yet. Trading with these higher delay time, I want to achieve the most optimal entry as possible. I'll take quality over quantity any day.

Good to see you on the thread here. Cheers
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