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TCO Trader EA

  • #801
  • Jun 28, 2013 5:23am Jun 28, 2013 5:23am
Hey, we are back after 11 hours ??? what the heck happened?
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It takes a lot for me to IGNORE you, but you can try.
  • #802
  • Jun 28, 2013 5:23am Jun 28, 2013 5:23am
Does anybody experience trouble accessing forexfactory?
i worshipped... Momentum
  • #803
  • Jun 28, 2013 5:25am Jun 28, 2013 5:25am
Quoting Erebus
Hey, we are back after 11 hours ??? what the heck happened?

Quoting rockrobb
Does anybody experience trouble accessing forexfactory?

Are we pressing ENTER button, at the same time?
i worshipped... Momentum
  • #804
  • Jun 28, 2013 5:27am Jun 28, 2013 5:27am
Quoting Erebus
Hey, we are back after 11 hours ??? what the heck happened? {image}
Yeah I looked at the same site! Thought you were to blame overloading the server or maybe was pippy arguing with twee about his new commercial status
  • #805
  • Jun 28, 2013 5:33am Jun 28, 2013 5:33am
Quoting claudia1
{quote} Yeah I looked at the same site! Thought you were to blame overloading the server or maybe was pippy arguing with twee about his new commercial status
Guess what, pippy removed hsi vouch from me because he thinks I blocked him from my thread; well, he has yet to learn, Commercial members cannot post in any thread other than in Commercial section - therefore no advertising

Hey, I'm short the GBP, is that good?
It takes a lot for me to IGNORE you, but you can try.
  • #806
  • Jun 28, 2013 5:37am Jun 28, 2013 5:37am
Quoting Erebus
{quote} Guess what, pippy removed hsi vouch from me because he thinks I blocked him from my thread; well, he has yet to learn, Commercial members cannot post in any thread other than in Commercial section - therefore no advertising Hey, I'm short the GBP, is that good?
Yeah that is good look for 5190 area we only moved 47 points today average 30 day is around 124. I heavy short but be careful Fridays are strange!

Edit: As i was writing damn things gone up lol
  • #807
  • Jun 28, 2013 5:39am Jun 28, 2013 5:39am
WE'RE BACK!!!!!!!
  • #808
  • Jun 28, 2013 6:24am Jun 28, 2013 6:24am
Hi, TCO,

Q1) Do I have to apply the template or is it ok if I just placed all the TCO templates, indicators into respective folders and the EA will trade as usual? Unfortunately my vps cpu=1gb and with 5 MT4 running in parallel, its going like an old guy climbing a hill. (instructions said: Apply template, attach ea etc)

Q2) Ok, this is totally silly, but I assume if I select ema method, then it will behave like 20-50ema, except that I got add'l stuff like ATR for sl/tp which I can used and Profit % to close all open trades. Similarly, if I select MACD it will behave similar to 3ss?

Q3) I have try searching, but I think my post was yet answered. Will the ea when closing all open trades (if profit % is set) only closed its own trades, or do I have to set a magic number to enforce the rule?
  • #809
  • Edited 7:03am Jun 28, 2013 6:52am | Edited 7:03am
Hi

Excellent thread TCO! Although a forex junkie for many years, this is my first post at FF. I have been looking at the 20/50 EMA method and can see huge potential in the simple format of trading with the trend and entering on pullbacks (which is what the method is attempting). However I wonder if the main problem with the system is inevitable huge drawdown when the tide is turning...? In other words the winners look after themselves, but when you are fighting the tide, using Williams % confirmation you can load your cart with lots of bad apples that all go on to lose big-time.

I wonder if anyone out there can look at adding a standard setting supertrend indicator line (MA period 10 and step 3) to the hourly chart as another method of trade entry (as is currently the Williams % OB/OS). My thought is that in a downtrend, for example, you place a pending limit to sell at the supertrend value line. Once a trade is entered, you wait until the price breaks the now lower supertrend line before placing another pending sell order at the new higher supertrend line. In other words, you cannot enter a second trade until the price has gone some way in your favour and broken another lower supertrend line. The advantage is that you won't miss any Williams % confirmation entries (indeed the entries might be more finely tuned) but when the price continues to move against you, you won't be adding to a losing trade. I am not a programmer and would love for someone to just add the ability to set up a pending limit order at a given indicator value. Often the supertrend level is around the Williams overbought/oversold levels anyway, in fact very rarely would you get a worse entry level, it is usually better.

I have used supertrend for a few years and tended to use it not on the initial break of the line but on the pullbacks to the line. I have found with the hourly time frame that under 100 pips should be sufficient for a stop loss before I am questioning whether the logic of the trade is still valid. I use the xsupertrend indicator, from this thread: www.forexfactory.com/showthread.php?t=329399. I have tried to upload the indicator below but don't know if it has worked (first post at FF!!). If not, the indicator is in the first post of the thread.

By using maximum trades per pair of 2 with a 6 or 12 hour gap between trades, you should get most of any reasonable move, which would also limit exposure massively from the potential of 8 losing positions. For example, take a look at the GBPAUD hourly chart over the last week. Williams % would have got you into many losing positions, whereas using the supertrend indicator level as a limit buy would have resulted in one loser only as the upper supertrend line hasn't been touched/broken until today (setting up a new limit buy).

Just drop the indicator on a chart and eye-ball it for yourself. I have merely looked at placing limit sells at the supertrend line when the price action is below the MA ribbon on the hourly chart with stops of 80 (a bit more for the kiwi/aussie crosses with higher ATR's) and targets of 200. I am not trying to change the system/strategy at all, just my two cents to attempt to still give us the good trades but eliminate some of the bad ones.

Attached File(s)
File Type: mq4 xSuperTrend.mq4   4 KB | 289 downloads


Hats off to TCO and all the other contributors on what is currently the hottest thing here!
John
  • #810
  • Edited 7:55am Jun 28, 2013 7:21am | Edited 7:55am
Quoting ymleong
Hi, TCO, Q1) Do I have to apply the template or is it ok if I just placed all the TCO templates, indicators into respective folders and the EA will trade as usual? Unfortunately my vps cpu=1gb and with 5 MT4 running in parallel, its going like an old guy climbing a hill. (instructions said: Apply template, attach ea etc) Q2) Ok, this is totally silly, but I assume if I select ema method, then it will behave like 20-50ema, except that I got add'l stuff like ATR for sl/tp which I can used and Profit % to close all open trades. Similarly, if I select...
Good to see FF back. Didn't realize how addicted I had become.

I'll see if I can answer these. TCO can correct me if I err.

1) The EA does not rely on the template for its operation. You could put it on a plain chart with no indicators, and it should still function properly.

2) You're overcomplicating things. The beauty of this EA and all its settings is that you can combine any number of varying parameters however you wish. Sure, you can model it after the original 20/50 EMA or the 3SS by choosing the corresponding settings, or you can come up with something very unique that has not been tried before. It has enough settings to keep us busy testing for quite some time.

3) I believe in v1.3 (current version) the EA will close ALL trades on your platform regardless of magic number. However, I *believe* I remember TCO saying he was going to code v1.4 so that it would utilize the magic number to do this, so it would then be possible to have trades from a different system that would not be closed by the TCO EA.

Hope this helps,

TurtleFan
Prices are never too high to begin buying or too low to begin selling.
  • #811
  • Jun 28, 2013 7:52am Jun 28, 2013 7:52am
Quoting turtlefan
{quote} Good to see FF back. Didn't realize how addicted I had become. I'll see if I can answer these. TCO can correct me if I err. 1) The EA does not rely on the template for its operation. You could put it on a plan chart with no indicators, and it should still function properly. 2) You're overcomplicating things. The beauty of this EA and all its settings is that you can combine any number of varying parameters however you wish. Sure, you can model it after the original 20/50 EMA or the 3SS by choosing the corresponding settings, or you can...

The magicnumber option is already included in version 3.
Unfortunately, the default at this moment is 0. That means, at this moment, without further notice, all orders with magicnumber 0 will be closed.
Orders produced from your direct manual trading also have the magicnumber 0. So, these will be closed as well.

What you must do is : change the magicnumber to some number unequal to zero (for example 763659) and recompile the source file. Then you are set.
Otherwhise, take extra care everytime at startup and change the value of variable "MagicNumber" manually.
  • #812
  • Jun 28, 2013 7:54am Jun 28, 2013 7:54am
Quoting rexio
{quote} The magicnumber option is already included in version 3. Unfortunately, the default at this moment is 0. That means, at this moment, without further notice, all orders with magicnumber 0 will be closed. Orders produced from your direct manual trading also have the magicnumber 0. So, these will be closed as well. What you must do is : change the magicnumber to some number unequal to zero (for example 763659) and recompile the source file. Then you are set. Otherwhise, you must take extra care everytime at startup and change this number manually....
Ah, didn't realize it had already been implemented. Thanks for the correction. I don't do any other trades on my demo so had not had reason to use it as yet.

TF
Prices are never too high to begin buying or too low to begin selling.
  • #813
  • Jun 28, 2013 8:05am Jun 28, 2013 8:05am
Quoting Greenster
PS: Another one of my wildhair scheming ideas is to have the EA automatically squeeze existing trades -

Hmmmm...I do like that
  • #814
  • Jun 28, 2013 8:19am Jun 28, 2013 8:19am
Hi, YM. I think Scott handled the questions for me. Thanks Scott. But just to confirm.

Q1) Do I have to apply the template or is it ok if I just placed all the TCO templates, indicators into respective folders and the EA will trade as usual? Unfortunately my vps cpu=1gb and with 5 MT4 running in parallel, its going like an old guy climbing a hill. (instructions said: Apply template, attach ea etc)

No template or indicator is necessary on the screen. But if you are using bar mode, you need to be on the lower TF chart.

Q2) Ok, this is totally silly, but I assume if I select ema method, then it will behave like 20-50ema, except that I got add'l stuff like ATR for sl/tp which I can used and Profit % to close all open trades. Similarly, if I select MACD it will behave similar to 3ss?

You don't have to use ATR based TP/SL, just an option. You don't need to use Profit % close either. If you set CloseOnOppositeSignal = false and WPR_Confirmation = false, then it should operate very much like 100PipsADay 20/50 EMA strategy. The same with MACD, should operate pretty close to 3ss.


Q3) I have try searching, but I think my post was yet answered. Will the ea when closing all open trades (if profit % is set) only closed its own trades, or do I have to set a magic number to enforce the rule?

Version 1.3 should close trades based on Magic Number.


I hope that helps. Thanks!
  • #815
  • Jun 28, 2013 8:23am Jun 28, 2013 8:23am
S3 Signals, interesting approach. Maybe this could be a future enhancement along with Greenster's tinkering. Thanks!
  • #816
  • Jun 28, 2013 8:36am Jun 28, 2013 8:36am
I'm still curious about the results from H4 TF - Seems to give more steady results to me
  • #817
  • Jun 28, 2013 8:43am Jun 28, 2013 8:43am
Quoting s3 signals
Hi Excellent thread TCO! Although a forex junkie for many years, this is my first post at FF. I have been looking at the 20/50 EMA method and can see huge potential in the simple format of trading with the trend and entering on pullbacks (which is what the method is attempting). However I wonder if the main problem with the system is inevitable huge drawdown when the tide is turning...? In other words the winners look after themselves, but when you are fighting the tide, using Williams % confirmation you can load your cart with lots of bad apples...

Could you post a chart to show where you would avoid trades and where you would take a trade ?
Thanks.

Here is my chart of gbpaud H1 at this moment together with your indicator.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaudh1.png Size: 41 KB
  • #818
  • Jun 28, 2013 8:52am Jun 28, 2013 8:52am
Quoting TallCoolOne
Hi, YM. I think Scott handled the questions for me. Thanks Scott. But just to confirm. I hope that helps. Thanks!
THANKS TCO and Turtle, yes should be busy with those different style of trading, I am not testing ichi, but testing both macd, and ema methods. I want to set WPR=True to see whether it will increase the profitability. TCO, pls keep us in loop rgds V1.4, I did not output the text on screen, but I assume since I downloaded abt a few days ago that the link is for V1.3. Pls let me know how I could check this

Thanks again for the clarification on closing when profit % is set to true, will note this and set a magic number to enforce the rule.

Hmmphh....wonder, if I placed used both methods on same acct but different pairs, how it would look like?

I kinda noticed that 3ss demo acct had like sell for eurjpy, but 20-50ema had buy eurjpy, hmpph....INTERESTING, 20-50ema is positive, while the 3ss is negative, but some trnx 20-50ema had like sell and 3ss had buy and of coz when these opposing "decision" happen (trades were opened same day but different timings on both demo accts), its either 20-50ema that is positive or 3ss.
  • #819
  • Jun 28, 2013 8:53am Jun 28, 2013 8:53am
Quoting Mones
I'm still curious about the results from H4 TF - Seems to give more steady results to me
Can you post your results or share a Trade Explorer or something?

TF
Prices are never too high to begin buying or too low to begin selling.
  • #820
  • Jun 28, 2013 9:06am Jun 28, 2013 9:06am
Rexio

I have GBPAUD as a potential buy only as per 20/50 daily EMA's the pair is in an uptrend (hopefully I am reading this right!). So my pending limit buy would be at the current supertrend level, around 1.6447 on your chart, about where one of your sells was initiated. I expect if the price ever gets down to the supertrend level (the line will go up as new highs are made), the Williams % indicator will be showing oversold and TCO's genius programming would grab it anyway.

Hope that helps. As GBPAUD is motoring upward, the supertrend has level has now risen (another hour completed) to about 1.6455. So you would need programming to keep updating the buy level if necessary. If tends to only rise if new highs are made otherwise it flat-lines.

To upload a chart, do I save it as a jpeg pic and just attach it with my post?
John
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