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Kopratasa EA & BDM

  • #1,981
  • Feb 16, 2016 12:42am Feb 16, 2016 12:42am
Example GBP.
Before the GBP move the OB area was set at fibo 100 now the GBP is making a big move up so the OB area shifts up preventing the GBP being reported as being in OS area.
Once the move is over or flattening out the latest fibo high will be the OB area and the GBP will be reported as overbought.
edit:
GBP entered OB.
GBP hooked in OB, find counter currency (or wait until GBP comes out OB) ?.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: obosprevent.PNG Size: 32 KB
Click to Enlarge Name: gbpenteredob.PNG Size: 22 KB
Click to Enlarge Name: gbphookob.PNG Size: 31 KB
info@metacharttools,com
  • #1,982
  • Edited 2:29am Feb 16, 2016 1:03am | Edited 2:29am
GBP leaving OB, GBPUSD, GBPJPY perhaps ?

Just going to create a fast eur basket for "German court ruling breakout" in 12 min.
Edit: on M5 gj would have been the best choise.
Attached Images
info@metacharttools,com
  • #1,983
  • Edited 8:53pm Feb 17, 2016 8:20pm | Edited 8:53pm
Quoting Hotpotato
{quote} BSM (Basket Selection Manager) is for the "lazy" basket traders and uses offline charts (and TTM) to trade baskets. It is part of BSM and if you load the BDMBSM.set file it should become a BSM dashboard. {image}
Really loving this...but I cant seem to figure out how to build an offline chart or create a basket. I have the BSM dashboard loaded and can pick the pre-selected pairs, but I have no idea how to open an offline chart for the basket.

Update - I see the basket file names in my mql4/files directory, but when I go to file/open offline charts, they are not found. If I click on the offline button , nothing happens in the program.
  • #1,984
  • Edited Feb 18, 2016 12:06am Feb 17, 2016 11:20pm | Edited Feb 18, 2016 12:06am
Crash course BDM - BSM basket selection and trading.

Setup:

- Start BDM and load the preset file BDM~BSM

- Make sure you have set the [ALT]+H hotkey to Basket Writerv1.05

- Open BSM settings and set the freeze time to.... (!! local computer time !!)
I use Tokyo open +2 hours and 1 minute but LO-1:01 or NY+00:01 is also possible.
TK+2 is when i am sleeping but i trade TK+2 at LO open so when i am awake i then create the locked basket.

- Leave it running until the time is there and baskets are locked.
Attached Image (click to enlarge)
Click to Enlarge Name: fastbasket2.PNG Size: 65 KB
Attached Image
info@metacharttools,com
  • #1,985
  • Edited Feb 18, 2016 12:02am Feb 17, 2016 11:27pm | Edited Feb 18, 2016 12:02am
Now when the time is there:

- See the [locked] button is red so the baskets are locked.

- Only 4 pairs in the buy basket, i will skip it (perhaps try to create one on LO-1 but that is advanced)

- Because there is one strong pair and a couple of medium pairs you combine them, click on the [Combi] button
If there where fi. 6 strong pairs is would have only used them by clicking the [Strong] button.

- Now a basket name button is generated.
Attached Image (click to enlarge)
Click to Enlarge Name: fastbasket1.PNG Size: 266 KB
info@metacharttools,com
  • #1,986
  • Edited Feb 18, 2016 12:02am Feb 17, 2016 11:33pm | Edited Feb 18, 2016 12:02am
Because on the right side of the sell basket selection there a negative correlations reported you might want to have a look at the individual charts.
Click on the [p] review button right of the [ Combi] button.
It will take you to BDM with the charts arranged by 8.
Use the navigate buttons to walk trough all the charts of the selected basket pairs.
The [DASH] button will take you back to BSM
Attached Image (click to enlarge)
Click to Enlarge Name: fastbasket3.PNG Size: 92 KB
info@metacharttools,com
  • #1,987
  • Feb 17, 2016 11:39pm Feb 17, 2016 11:39pm
After returning to the BSM dashboard de-seslect any pairs you do not want in this basket (i elliminate pairs with more than 3 correlations)
Click on the [COMBI] button again and a new basket will be generated without those de-selected pairs.

Now click on the basket button [SC4-11] and if you set the hotkey right the Basket Writerv1.05 input window will popup.
Fill in the basket name and click [ok].

Just to make sure that your basket writer is running click the [Maint] button to check and [X] to close again.

ps.
Ignore the 4-11->4-13 difference because i already have a 4-13 running. It is just an example.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fastbasket4.PNG Size: 120 KB
Click to Enlarge Name: fastbasket5.PNG Size: 61 KB
info@metacharttools,com
  • #1,988
  • Feb 17, 2016 11:46pm Feb 17, 2016 11:46pm
Now open the offline chart by using the top MT4 menu File->Open offline and select the generated offline chart (#SC4-11#11M15).
Example is again different because i am already running.

If the charts opens load the template TTMTRADER from templates/TTMDEAULT
Attached Image(s) (click to enlarge)
Click to Enlarge Name: fastbasket6.PNG Size: 93 KB
Click to Enlarge Name: fastbasket7.PNG Size: 174 KB
Click to Enlarge Name: fastbasket8.PNG Size: 90 KB
info@metacharttools,com
  • #1,989
  • Feb 17, 2016 11:51pm Feb 17, 2016 11:51pm
Now use the windows[-] button to minimize the chart to the taskbar and then use the BDM [OFFLINE] button to open the offline chart under BDM control.

Now set your TTM trading breakouts, stoplosses etc. etc and do not forget to click [Start trading].
The yellow blocks should be moving.

If you had a buy and a sell basket just repeat all the steps for the second (third, fourth....basket) and bring them under BDM control by just minimizing them.
Attached Image (click to enlarge)
Click to Enlarge Name: fastbasket9.PNG Size: 74 KB
info@metacharttools,com
  • #1,990
  • Edited Feb 18, 2016 12:07am Feb 17, 2016 11:56pm | Edited Feb 18, 2016 12:07am
In the examples i created the basket and installed TTM a hour before LO open and that is why i set the [ALARM] button on TTM.
Even as i have set [BREAK]-out lines (bar close outside to trade) i do not want to risk that trades will be taken before LO open.
On LO open i will turn the alarm off and let TTM trade.

In the free version the TTM options are restricted.
info@metacharttools,com
  • #1,991
  • Feb 18, 2016 12:18am Feb 18, 2016 12:18am
Offline charts are never closed by BDM so you can use the red [CLOSE] button, open any other BDM option fi. having a look at the CHF charts and as you click the [OFFLINE] button again your offline chart(s) will popup.

The system did not generate a buy basket but i want one.
So click on the BDM [DASH] button to go back to BSM, click on the red [Unlock] button and fill in a new lock time in the input window.
I will try 10:01 (LO+01:01 local time).
The button will turn green waiting for the next lock.
Attached Image (click to enlarge)
Click to Enlarge Name: fastbasket11.PNG Size: 58 KB
info@metacharttools,com
  • #1,992
  • Feb 18, 2016 12:38am Feb 18, 2016 12:38am
Decisions:

If this basket keeps running sideways with small bodies and long wicks it might not be worth trading it.
I can already see some wicks passing the breakout line without continuation so i just might abandon this basket (just close the offline chart manual).
I might try LO+01:01 or NY baskets but USD news coming so i will create a USD breakout basket (next).
Attached Image (click to enlarge)
Click to Enlarge Name: fastbasket12.PNG Size: 94 KB
info@metacharttools,com
  • #1,993
  • Feb 18, 2016 12:54am Feb 18, 2016 12:54am
USD breakout:

- Go to the BSM [DASH] button.
- Click on the [LOCK] button until it says [Locked] and is red.
- Select the 7 usd pairs in the manual box
- Give it a name (fi. USD07) and click the [MANUAL] button.
- When the Basket Writev1.05 pops up fill in the basket name AND the pairs you want to reverse (remember usd breakout).
- Click [OK] to generate the oflline chart.
- Use the [MAINT] button to make sure your basket writer is running.
Attached Image (click to enlarge)
Click to Enlarge Name: usdbreakout1.PNG Size: 150 KB
Attached Image
info@metacharttools,com
  • #1,994
  • Feb 18, 2016 1:03am Feb 18, 2016 1:03am
- File - Open offline and choose #USD07#07,M15
- Load the TTMTRADER template and minimize the chart [-]
- Click the [OFFLINE] button in BSM and you have two basket charts open.

The red buttons in front of the pairs in TTM mean that these pairs are reversed.
Because combined (buy/sell) charts have really long wicks and are difficult to read i change the chart from bar graph to line graph.
Attached Image (click to enlarge)
Click to Enlarge Name: usdbreakout3.PNG Size: 68 KB
info@metacharttools,com
  • #1,995
  • Edited 1:27am Feb 18, 2016 1:08am | Edited 1:27am
If you are done with a basket do not forget to go back to the BSM->[MAINT] and [close] the Basket Writer to save resources.

BDM and BSM are just Expert Advisors not Expert Traders.
So if you see BSM select a basket with fi. 3 usd pairs, 3 eur pairs and 3 gbp pairs in the same basket you do have to ask yourself "will that basket go anywhere".
That is up to you.
info@metacharttools,com
  • #1,996
  • Feb 18, 2016 1:48am Feb 18, 2016 1:48am
Are there any losing baskets ?
Well normally not, unless you do not pay attention to them (watch fibo or SnR (they work on baskets as well)) or out of fear missing the boat you set the breakout lines to narrow. Never forget that you are trading a large number of pairs on a (default) M15 timeframe so a fake move and bar close outside a breakout line is easily made.
Example is that i was writing these entries and didn't look at the basket movement.
Basket opened 3 pips below sell breakout. Panic, no not yet. Just moved the trailing a bit higher because the session is still young.

Also if you have a loosing or breakeven basket do not try to trade it a second time.
Over time i have learned that it will bring more losses than profit. Just say "a well, i tried" and discard the basket.
Attached Image (click to enlarge)
Click to Enlarge Name: normallynot.PNG Size: 123 KB
info@metacharttools,com
  • #1,997
  • Feb 18, 2016 4:10am Feb 18, 2016 4:10am
Quoting Hotpotato
Crash course BDM - BSM basket selection and trading. Setup: - Start BDM and load the preset file BDM~BSM - Make sure you have set the [ALT]+H hotkey to Basket Writerv1.05 - Open BSM settings and set the freeze time to.... (!! local computer time !!) I use Tokyo open +2 hours and 1 minute but LO-1:01 or NY+00:01 is also possible. TK+2 is when i am sleeping but i trade TK+2 at LO open so when i am awake i then create the locked basket. - Leave it running until the time is there and baskets are locked. {image} {image}
Thanks HP for the basket guide.

The GBP move today is great:

Attached Image (click to enlarge)
Click to Enlarge Name: GBP moves 2016-02-18_7-05-04.png Size: 110 KB
  • #1,998
  • Feb 18, 2016 5:45am Feb 18, 2016 5:45am
Great tutorial HP! I created a basket and an offline chart. Everything works perfectly! Quick question, what do you mean when you say "i elliminate pairs with more than 3 correlations"

Thanks again!
  • #1,999
  • Edited 7:01am Feb 18, 2016 6:06am | Edited 7:01am
Quoting iuforex
Great tutorial HP! I created a basket and an offline chart. Everything works perfectly! Quick question, what do you mean when you say "i elliminate pairs with more than 3 correlations" Thanks again!
On the right side of the baskets you see their negative correlation over the past (xx candles/days, user input on BSM).
This gives you the chance of eliminating pairs that will likely work against you before you create the basket.
In the screenshot eurgbp will be a good one to keep out of the basket because it lets you have the three other pairs in the basket.

Again, it is just an indication based on Pierson calculations.
If you have no idea what this means or how to set it, turn it off or just de-select any pair with more than two negative correlations.
If BSM selects a basket and almost every pair has a negative correlation with another pair, just forget the basket and go play outside in the snow.
Attached Images
info@metacharttools,com
  • #2,000
  • Feb 19, 2016 2:56am Feb 19, 2016 2:56am
Anybody NOT being able to create a basket after this crash course ?
info@metacharttools,com
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