Hi forex-tsd community.
First of all sorry for my bad english, it's not my mother tongue.
I've one idea :
Can we create 1 EA who are able to "switch" between 1, 2 or more others EA.
The switch calculation would be based on the market attitude. means : use XXX ea if the market is Trend or use YYY ea if the market is "Flat" and "side"...
Any opinions or code ?
I have no any idea now abou the code but I think it will be difficult to code "flat", "side" and "trend" market condition inside EA. If we are estimating it manually it is ok but if we use EAs to do it so it may be some wrong decision sometimes (wrong decision of EA about market condition).
Thanks for answer Digital.
But, perhaps some indicators exist to show us if the market is trending or not ? Or is it possible to determine if the market is Trend or not in a EA ?
It is very difficult. Because it is something with forecasting or predicting of the price movement. Usually i am using Ichimoku indicator on D1 and H4 timeframes. But there are false estimation as well.
We may estimate something like this: 'which kind of market was 1 hour ago or 1 day ago for example". But to predict something we need to use Ichimoku with some false signals or digital filters (false signals as well) or some other system designed especially to predict.
Forecasting/prediction of the price movement using Ichimoku is valid with 60 or 70% of probability. It means that 40 or 30% are false estimation. I am talking about the market condition (not about stop loss and profit level).
Digital filters may give more higher probability of valid estimation but it is many indicators which are more reliable on D1 and W1 timeframes.
You may reply: "60 or 70% of probability for forecasting is not high number".
No. It is very high number. 60 or 70% is really very high. But there is the other problems - news (fundamental analysis): it is impossible to make forecasting with very high probability using technical analysis only.
I had the idea to create indicator for forecasting which will be easy to use for everybody. I am still thinking about it.
It's why i think to have a "HUB" or "SWITCH" EA who contain the call to "EA1" for Trending Market, "EA2" for Range Market and "EA3" for News event should be a great thing...
If we will estimate this trading market condition, ranging and so on visually so it's ok.
If EA will do it so the name of this EA is Portfolio Manager and everybody wants to have.
I am keeping the idea to create Portfolio Manager during the 8 months already and seems we may start the development in December.
This Portfolio manager should work as a switcher. But not only. This EA will estimate the market condition, predict the price movement. Besides this EA will have MM for all the EAs attaching to the MetaTrader: means, one MM for all. And this EA will decide: which EA to trade, when, which MM and so on. And this Ea will generate the signals as well (on H4, D1 and W1 timeframes). So, it is Portfolio Manager as i understand it.
We may start the development in December.
It is easy in December: I will not trade and will not develop any system because of New Year and we may do it in easy going way.
Yes is a EA Portfolio Manager.
I'm not a MT4 Developper but i will try to participate to this new developement, by advices and some recommendations, when you will post the first program "skeletons" of this portfolio manager.
I support this idea, a guy called George Pruit, well known in automated trading, had the idea for an expert with a 'choppy index' which would switch between a trend follower, and an expert that liked choppy conditions. It was part of something he called thermostat. He published it in his book.
I like the idea because for instance some experts badly misbehave in trending conditions and vice versa - such a 'switch' could be a condition of a. whether to trade or stand aside and b. which EA to trade for the conditions. There must be quite a few contenders for which indicator/s to use though.