How can i help ?
I am busy with some other EAs (Signaltrader and so on).
Are you testing ?
Steinitz Method Scalping Method EA
I am forward testing Bless FiFtHeLeMeNt and V1andV2 just to find the right/safe settings. Pairs: EURUSD and USDCHF.
Once I find the settings I will test it "officially" with statements posted.
Simple idea to "detect" when the market is ranging or trending :
Just use 3 EMA(34), one on High, one on Close and the last one on Low.
When yours candles are under the EMAs -> Trend is down.
When yours candles are above the EMAs -> Trend is up.
When yours candles crosses the EMAs -> no trend, ranging market.
I think our project may be started finally
because at least two systems need the rules we may establish for the market condition:
- new Igorad's scalper EA coding according to Linuxser's idea/indicator (not posted yet).
So, we will have to do it. We came very close to this subject because some systems can not be developed without it.
You're welcome to borrow from Phoenix 6. I was thinking about coding up entire trading systems as single indicators, and then letting them load based on the results of other systems. It sounds like you have the other system. I was already separating out signal filters (on/off), trade signals (buy, sell, no answer), confirmation signals (alter lotsize), and exit signals (exit based on conditions).
any news about switch ea's
We were stopped because it was necessary to create indicators or EAs to evaluate and predict particular market condition.
The first step to solve this problem was made on this thread https://www.mql5.com/en/forum/174793 so I hope that we will be able to create this EA. Next step is the following: we will need the create market condition and evaluation/forecasting according to Ichimoku indicator and some other systyems. And then only we will be able to create good EA Switcher.
AbsoluteStrengthMarket combined version (ASM combined)
The first indicator (or indicators) was created by Igorad.
It is AbsoluteStrengthMarket_v1.1. It was described starting from this page to this one.
Description of the color:
LightBlue: Bear Market Rally;
White: Non Trade.
What is Bear Market Rally and Correction?
It is from here:
Explanation of the settings.
TimeFrame. It is timeframe. Because this indicator is MTF version so we may attach this indicattor to D1 timerame with W1 (10080) settings.
Then you will see the settings of AbsoluteStrength_v1.1 indicator (ASM indicator is working with AbsoluteStrength_v1.1 only).
Text on the chart. TextSize is size of the text on the chart. TextDelta is location of the text on the chart (change this TaxtDelta to have desiable location of the text on the chart to move the text for example). DisplaySets: display all the settings of ASM indicator on the chart.
IndValue. It is the location of the lines of the indicator on the chart. For example if we want to attach 3 ASM indicators with different Timerame settings in one separated window so we are doing the following:
- during the attaching first ASM indicator to the chart we should set Fixed miminum and Fixed maximum in custom indicator's window (you will see it during the attaching before pressing OK to attach). If we want to attach 3 indiators on the same window so we will set Fixed miminum=0 and Fixed maximum=4. Then we will locate every indicator: first indicator will have IndValue=3, second one: IndValue=2 and 3rd one: IndValue=1. Every indicators should have the same Fixed miminum and Fixed maximum. Attached is the template as an example.
How to use.
If we are talking about market condition so we are talking about market condition of some particular day, or week, or month. It means that this ASM indicator is most usefull for H4, D1, W1 and MN1 timeframes. Of course we may use it with other timeframes as well but please note that this ASM indicator was designed for timeframes started from H4. To use it with M15, M5 timeframes for example we will need to cgange some settings of the ASM indicator related to AbsoluteStrength_v1.1 indicator.
Some example about how to use.
- Attach 3 ASM indicators to D1 timeframe in same separated window. Set first ASM indicator to current D1 timeframe (TimeFrame=0), second ASM indicator to W1 timeframe (TimeFrame=10080) and 3rd one for MN1 timeframe (TimeFrame=43200).
- We may consider uptrend on D1 if D1 ASM indicator's line is in blue color on close (previous) bar and W1 ASM indicator is in blue or lightBlue color. MN timeframe is optional.
- we may consider downtrend on D1 if D1 ASM indicator's line is in red color on close (previous) bar and W1 ASM indicator is in red or orange color. MN timeframe is optional.
- be comfortable with some other color: choppy market and not trading.
- if we are having choppy market condition on MN timeframe so it means that the trend direction are changing often on W1 timeframe so MN1 is optional.
- avoid trading on choppy (yellow color) and not trading (white color) market condition. For example: we are having uptrend on current D1 but choppy or not trading for W1: it means that we are not trading this day.
We may see from the image attached abut how to use it.
Just some comments about the current market condition for GBPUSD D1:
- D1 - uptrend (on close bar);
- W1 is choppy market.
Conclusion: we are not trading GBPUSD today for trend followers trading systems. We may use some systems or EA which are good for choppy market. Of course the situation may be changes as we are having not trade on D1 and downtrend on W1 right now but it is on open bar and we will know exactly about it in the beginning of the next day (tomorrow when new D1 bar will be opened).
All the indicators are re-painting current open bar. All with no exception. This ASM indicator is MTF indicator so the current bars may be re-paint as well. So, please, for current timeframe use close bar only (previous bar). But if we attach indicator to D1 chart with W1 settings so current W1 bar may be re-paint as well. It is not visible on Monday and it is more related to the Friday for example (W1 bar is closed on Monday so it will not re-paint last close bar but we will still have open bar on Friday which will be closed next Monday). Thus, please, understand all difficulties and particularities working with MTF indicator. ASM is MTF indicator.
Five Stars post... Thx NewDigital and Igorad
I will try it asap.