Ermou Street Starter
Ermou Street rather than an expert or an indicator is a all-in-one trading assistant easing your trading sessions by providing different signals & insuring the minimal required for your portfolio management.
By default, attaching Ermou Street to a chart, you’ll get:
- Buy signal (green arrow)
- Sell signal (red arrow)
- Trend Preview: takes few minutes to be calculated, gives an idea on the upcoming prices
You could use Ermou Street as is. Regarding to the timeframe used or the type of deals you wanna take, you’ll have to adjust in the settings – at least – the filter (set by default to 20, 0 = non filtering, 100 = max).
If you’re trading on the Forex market, you can select how filtered will be the signals (see screenshots). You could also choose on high timeframe to show only signals you’ll get a positive swap from (carry trading).
The next settings are about the levels used for your positions:
- The stop loss is fixed: needs to be coherent with the instrument you’re trading
- The trailing/reverse order step: coherence needed, it’s the step by which will be calculated the distance to trail or to reverse the position (using a pending order).
- Activate/Deactivate trailing: levels won’t be notified
The daily pivots are particularly useful if you plan to swing-trade in front the terminal, to trace any reversal that could happen. But also before entering position.
Ermou Street by using only an arrow-to-arrow strategy shows good results. You can increase the performance by using any of these modules, reducing the loss of any pull back, or choose to refine the strategy using pivots etc… Beside these signals, an exit signal is often the first stigma of a reversal and may be used so (prepare a stop order !).
The money management included in the full version, calculate the lot size, based on the risk specified in the settings for open positions orders, reverse orders volumes including to reverse (out/in).
Last deals in the settings acts as a martingale – antimartingale on the volume calculated, based on the results of the x previous deals. The more there’s consecutive wins, the more the volume is increased. The more there’s consecutive loss, the more the volume is decreased. It’s symbol specific.
Notifications depend on the version of Ermou Street used:
- Expert tab: everything is displayed, what make Ermou Street perfect to work in front the terminal
- Push notification: stay connected with the MetaTrader 5 app
- Sound notification
For more convenience, you can choose to activate the drawing of the SL/TP levels and customize the color to be able to just drag’n’drop when placing an order.
I must insist on few facts:
- Volatility & the filter used, depends of the timeframe & instrument – should be adapted, checked on a large enough part of the chart.
- Same for the levels (stop & step), to be adapted regarding the instrument tick size & the way it oscillates.
There’s bugs, I know about.
- When just attached on chart, some signs are temporarily displayed but not notified as signals
- When just attached on chart, you may wait a few for the signals to appears (calculation !)
- « Indicator too slow » may appears, depending the number of charts, RAM etc ….
- Using the tester, the signals may not be displayed correctly – I can’t do otherwise than suggesting you to monthly-rent the starter version (25$).
- Ermou Street (Analyzer): https://www.mql5.com/en/market/product/8468: signals, notifications, money management, 10 licenses / Rent: $100/monthly
- Ermou Street Basic: https://www.mql5.com/en/market/product/10628: signals, notifications, no money management, 7 licenses / Rent: $50/monthly
- Ermou Street Starter: https://www.mql5.com/en/market/product/10627: signals, no notifications, no money management, 5 licenses / Rent: $25/monthly
- Base algo (full with MM, Starter & Basic with no MM)
* filtering reworked
* fix the SL, the lot suggested is based on risk (%)
* Strong reversal sign found : stop reverse order with new sl, new tp, volume to close+new volume at price +/- trailing step
* Strong pursue sign found : overbid at price+/- trailing step with the pending order's new volume (% risk), new sl & new tp
* Low reversal sign : stop reverse order with new sl, new tp, volume to close+new volume at price +/- trailing step
* Low reversal sign (standard exit) is no longer showed for past bars, but for news bars and if a position has been opened
- Secondaries modules aren't no longer usable as entries signals, I do refine the strategy as I learn
- Modules activated in the settings are loaded & exclusively used to monitor signals
* Positive signal upon a opened position : trend continue, overbid @ actual price, new volume, new stop, new tp
* Negative signal upon a opened position : trend may reverse, stop or lot decreasing @ price +/- trail step
* These signals are no longer showed for past bars, but for news bars and if a position has been opened
- The value of Positive/Negative signal differs from the signals of the base algo
* Guidance : support/resistance zone, the more square you'll get there, the stronger is the resistance/support you'll find there
* Hastiness : many diamonds of the same color suggests a reversal, otherwise the diamonds is read as an acceleration phase
- Option to deactivate levels' drawing on chart to decrease memory consumption
- In this new version, trailing stops are calculated in points (no longer based on the average x bar size), I judge it more common and so on more easy to appreciate
- An option to activate/deactivate it has been included : true : will look for a trail & notify it / false : won't.
- The TP has been added in the notifications
- Ease the use of arrow-to-arrow strategy by improving the whole system
- Improved filtering (0 = no filter on main signals)
- Cleaning modules' code to increase performance and speed
- Corrected array out of range error when there were not enough bar for calculation on the chart
- Added two features:
* You now can disable notification for signals II as a reliable strategy Ermou St. provides the ability to pass from a BUY to a SELL directly (Higher TF +++)
* You now can disable notification for trailed deals for which profit is negative (turned off you can still adjust negative profit trails)
- Profit to save wasn't displayed when notified