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EA to manage DOTS method trades

  • #1
  • First Post: Feb 16, 2015 5:01pm Feb 16, 2015 5:01pm
Good evening all, I'm hoping there is a kind soul out there who can help.

I trade TMS and DOTS and I am looking for an EA that can manage my trades for me. I have looked at a few including cave manager but they don't seem to have the functions I require.

Here is what I am trying to achieve:

I want to be able to place a pending order with 2 sometimes 3 TP targets.

3 TP target example:
When the 1st TP target is hit I wan't 1/3 of the position closed and the SL for the remaining 2/3's moved to BE
When the 2nd TP is hit I want 1/3 of the position closed and the SL for the remaining 1/3 moved to either the 1st TP target or a trailing stop
When the 3rd TP is hit I want the whole order closed.

If anyone knows of an EA or knows how to set up cave manager to behave in this way I would be very grateful.

Kind regards

Nods
Intelligence is the ability to adapt to change. Stephen Hawking
  • #2
  • Feb 17, 2015 1:17am Feb 17, 2015 1:17am
Quoting nods80
Good evening all, I'm hoping there is a kind soul out there who can help. I trade TMS and DOTS and I am looking for an EA that can manage my trades for me. I have looked at a few including cave manager but they don't seem to have the functions I require. Here is what I am trying to achieve: I want to be able to place a pending order with 2 sometimes 3 TP targets. 3 TP target example: When the 1st TP target is hit I wan't 1/3 of the position closed and the SL for the remaining 2/3's moved to BE When the 2nd TP is hit I want 1/3 of the position closed...

THV Cavemanager can manage your 3xTPs exits exactly what you want... but

what is your exit strategy on moving your initial SL and subsequent stops?

CM can trail your stops using the price candle, have you considered this?

CM has Capital Protection too, do you want to use this feature?

Have you thought of how to 'Let Profits Run' in your exit strategy?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #3
  • Feb 17, 2015 2:15am Feb 17, 2015 2:15am
Quoting emmanuel7788
{quote} THV Cavemanager can manage your 3xTPs exits exactly what you want... but what is your exit strategy on moving your initial SL and subsequent stops? CM can trail your stops using the price candle, have you considered this? CM has Capital Protection too, do you want to use this feature? Have you thought of how to 'Let Profits Run' in your exit strategy?
Thanks EM

At this stage i'm just conduction an experiment with a DEMO account on the DOTS levels and want some data to back it up. I want to place trades long and short using DOTS levels as targets for a period of time and see what the results are. For obvious reasons this wouldn't be a valid strategy for live trading. I have already done some testing and the results are interesting but i'm not always around to manage the trades so was hoping to have a EA manage them for me so I can set and forget at LO.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #4
  • Feb 17, 2015 2:31am Feb 17, 2015 2:31am
Quoting nods80
{quote} Thanks EM At this stage i'm just conduction an experiment with a DEMO account on the DOTS levels and want some data to back it up. I want to place trades long and short using DOTS levels as targets for a period of time and see what the results are. For obvious reasons this wouldn't be a valid strategy for live trading. I have already done some testing and the results are interesting but i'm not always around to manage the trades so was hoping to have a EA manage them for me so I can set and forget at LO.
well, another way is to use a script to place 3 orders each with different TPs as exit and one same exit for initial SL.
This would be a simple clean solution.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #5
  • Feb 17, 2015 11:29am Feb 17, 2015 11:29am
Quoting emmanuel7788
{quote} well, another way is to use a script to place 3 orders each with different TPs as exit and one same exit for initial SL. This would be a simple clean solution.
Thanks EM. The tipster EA sounds like a viable option. Gonna look into it before spend money.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #6
  • Feb 22, 2015 7:31pm Feb 22, 2015 7:31pm
Just an update. I have started using the tipster EA for managing trades and it is working well. well worth the $50.

details can be found here.

http://www.forexfactory.com/showthre...48#post8087548
Intelligence is the ability to adapt to change. Stephen Hawking
  • #7
  • Feb 23, 2015 11:13am Feb 23, 2015 11:13am
Quoting nods80
Good evening all, I'm hoping there is a kind soul out there who can help. I trade TMS and DOTS and I am looking for an EA that can manage my trades for me. I have looked at a few including cave manager but they don't seem to have the functions I require. Here is what I am trying to achieve: I want to be able to place a pending order with 2 sometimes 3 TP targets. 3 TP target example: When the 1st TP target is hit I wan't 1/3 of the position closed and the SL for the remaining 2/3's moved to BE When the 2nd TP is hit I want 1/3 of the position closed...

I really like your intension , I think the most difficult is to " place " the pendings on the area that the DOTS indi draws in the chart .

If I do it right , I habe 2 pendings long , 2 pendings short each pair ( one for tp 1 , second for tp2 )without filtering by guppies , TDI , or other " filters" .
Do you have any Idea how to shorten this process , any " bot " or something ??
Guido
Risiko birgt immer auch die Chance.
  • #8
  • Feb 23, 2015 11:53am Feb 23, 2015 11:53am
  •  sym
  • Joined Apr 2011 | Status: Working... (too much) :) | 356 Posts
Quoting nods80
Good evening all, I'm hoping there is a kind soul out there who can help. I trade TMS and DOTS and I am looking for an EA that can manage my trades for me. I have looked at a few including cave manager but they don't seem to have the functions I require. Here is what I am trying to achieve: I want to be able to place a pending order with 2 sometimes 3 TP targets. 3 TP target example: When the 1st TP target is hit I wan't 1/3 of the position closed and the SL for the remaining 2/3's moved to BE When the 2nd TP is hit I want 1/3 of the position closed...
It can easily be done ah hoc...

Sym
--- nothing to say ---
  • #9
  • Feb 24, 2015 1:17am Feb 24, 2015 1:17am
Quoting sym
{quote} It can easily be done ah hoc... Sym
Hi Sym

Can you explain further?

Regards

Nods
Intelligence is the ability to adapt to change. Stephen Hawking
  • #10
  • Feb 24, 2015 1:22am Feb 24, 2015 1:22am
Quoting Sesamstrasse
{quote} I really like your intension , I think the most difficult is to " place " the pendings on the area that the DOTS indi draws in the chart . If I do it right , I habe 2 pendings long , 2 pendings short each pair ( one for tp 1 , second for tp2 )without filtering by guppies , TDI , or other " filters" . Do you have any Idea how to shorten this process , any " bot " or something ?? Guido
Hi Guido

Check this thread http://www.forexfactory.com/showthre...48#post8087548

It's not a bot, but a trade manger EA a bit like cave manger, only you just drag the lines. Very quick and easy, sets your lot size based on %risk and moves sl to be for you. I have demo it for a couple of days and works well. it is $50 though.

Thanks for the support
Intelligence is the ability to adapt to change. Stephen Hawking
  • #11
  • Feb 24, 2015 3:16am Feb 24, 2015 3:16am
Quoting nods80
{quote} Hi Guido Check this thread http://www.forexfactory.com/showthre...48#post8087548 It's not a bot, but a trade manger EA a bit like cave manger, only you just drag the lines. Very quick and easy, sets your lot size based on %risk and moves sl to be for you. I have demo it for a couple of days and works well. it is $50 though. Thanks for the support
Hey Gordon , i saw the video on the thread.
But in fact its not what I like .
As first I need to drop a pending .. ( okay , no deal )
next step is to wait for the dots indicator to draw the lines ..
last but not least putting the lines to the dots levels.


aaaaah .. sounds like training for a cheap Picasso copy .. aaaaaaah , I don t like it .

Id prefer to have it as a " halfautomatic bot" , that prints the lines and the " pendings . included SL and TP
I can manage " trigger " the orders easy by traiilingstop , no need to buy anything .
If I had it as a MQ4 data , my friend offered me to make a solution .

But I have it only as an Exe data .
Attached File(s)
File Type: ex4 DOTS_Method_v3-02(edu).ex4   39 KB | 1,136 downloads
Risiko birgt immer auch die Chance.
  • #12
  • Edited 6:42am Feb 24, 2015 5:58am | Edited 6:42am
Quoting Sesamstrasse
{quote} Hey Gordon , i saw the video on the thread. But in fact its not what I like . As first I need to drop a pending .. ( okay , no deal ) next step is to wait for the dots indicator to draw the lines .. last but not least putting the lines to the dots levels. aaaaah .. sounds like training for a cheap Picasso copy .. aaaaaaah , I don t like it . Id prefer to have it as a " halfautomatic bot" , that prints the lines and the " pendings . included SL and TP I can manage " trigger " the orders easy by traiilingstop , no need to buy anything . If...
The solution you just said would be better, I just wanted a solution to get up and running because the manual way was to much like hard work. I have an mql4 file but the dots levels are hidden from view in the data window so I am assuming Dean Malone prevented people from turning it into an EA.

Attached File(s)
File Type: mq4 DOTS_Method_v3-02a.mq4   26 KB | 1,223 downloads
Intelligence is the ability to adapt to change. Stephen Hawking
  • #13
  • Edited 6:32am Feb 24, 2015 6:20am | Edited 6:32am
Quoting nods80
{quote} The solution you just said would be better, I just wanted a solution to get up and running because the manual was to much like hard work. I have an mql4 file but the dots levels are hidden from view in the data window so I am assuming Dean Malone prevented people from turning it into an EA. {file}
Thanks man !
Not sure yet , if my buddy can handle it .
End of week I phone call again with him ..
I will let you know if he can code a " halfautomatic " or so .. we will see .

Guido
Risiko birgt immer auch die Chance.
  • #14
  • Feb 24, 2015 10:19am Feb 24, 2015 10:19am
Quoting Sesamstrasse
{quote} Thanks man ! Not sure yet , if my buddy can handle it . End of week I phone call again with him .. I will let you know if he can code a " halfautomatic " or so .. we will see . Guido
lock and load.
Your friend will try to help you on this weekend buddy

speak soon
ciao
Lorenzo
  • #15
  • Feb 24, 2015 10:33am Feb 24, 2015 10:33am
I use this 2 script for pending order and then manage with my EA like partial profit trailing etc. just drag and drop at the point for limit orders it can detect automatically whether it is a stop order or limit order. SL and TP all can be predefined. Thought it might be of use. mq4 file for customization of liking.
Attached File(s)
File Type: mq4 DROP_PENDING_SELL.mq4   2 KB | 652 downloads
File Type: mq4 DROP_PENDING_BUY.mq4   2 KB | 694 downloads
Sad i'm not trying to understand PA
  • #16
  • Feb 24, 2015 10:40am Feb 24, 2015 10:40am
Quoting lorbax
{quote} lock and load. Your friend will try to help you on this weekend buddy speak soon ciao

Sounds great
I´m sure with your help we can make it work easy .
Risiko birgt immer auch die Chance.
  • #17
  • Feb 24, 2015 12:54pm Feb 24, 2015 12:54pm
Lorbax welcome back. And thank you. Omnisha Thank you I will try them out.
Intelligence is the ability to adapt to change. Stephen Hawking
  • #18
  • Feb 25, 2015 2:55am Feb 25, 2015 2:55am
Quoting nods80
Lorbax welcome back. And thank you. Omnisha Thank you I will try them out.
hello there,
I haven't yet started to put hands on this, I will have some time on this weekend, tough I'm not sure I can actually produce an EA out of the indi, difficulties can be few:

  1. I noticed the indi does not automatically update correctly at "change of day" so basically I do it manually switching between timeframes so that it updates in the morning (I use Europe open, 8am) - Thus, it can be risky to let it put orders at levels which are not 100% sure until you update the charts.
  2. calculation of levels may be encrypted (I doubt it having the mq4 file, but still...)
  3. my coding limitations

I will keep you posted asap guys
have a nice day

Lorenzo
  • #19
  • Mar 1, 2015 7:40am Mar 1, 2015 7:40am
Quoting nods80
{quote} The solution you just said would be better, I just wanted a solution to get up and running because the manual way was to much like hard work. I have an mql4 file but the dots levels are hidden from view in the data window so I am assuming Dean Malone prevented people from turning it into an EA. {file}
Dear Nods80,

I try yout DOTS indicator,... but make my MT4 "hang",... any specific set up needs to do ?

Kindly guide me please,...

Thanks,

Budi
  • #20
  • Mar 1, 2015 7:58am Mar 1, 2015 7:58am
Quoting budidharma19
{quote} Dear Nods80, I try yout DOTS indicator,... but make my MT4 "hang",... any specific set up needs to do ? Kindly guide me please,... Thanks, Budi
hi Budi

The mq4 file makes my mt4 hang to but only when I switch time frames. The ex4 file doesn't seem to cause any problems though. I can't help any further because I use the paid for version 4 file in my live trading.
Intelligence is the ability to adapt to change. Stephen Hawking
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