Ermou Street rather than an expert or an indicator is a all-in-one trading assistant easing your trading sessions by providing signals and notifications. It's an assistant rather than a robot - "an assisted steering rather than an autopilot", and now, it autoadjusts itself to any instrument, any timeframe & any circumstance.
First, you should watch the video. Then here's some explanation:
By default, attaching Ermou Street to a chart, you’ll get:
- A panel
- Signals: buy (default blue arrow) / sell (default red arrow)
Back end inputs: these parameters are available from the EA tab:
- Bull/Long/Positive ; R1/R2/R3 levels' color: default blue
- Neutral ; Pivot: default white
- Bear/Short/Negative ; S1/S2/S3: default red
- Signal shift in points: shift of 150 points higher/lower than entry candle by default
The panel is organized so - from left to right:
- Indicator settings:
- Optimize using an interval of x bars: number of bars used to optimize, should be inferior to the chart max bars and superior or equal to 1000
- ... searching for at least x deals: expected numbers of deals for x bars when optimized - should be superior or equal to 2
- ... starting parameters search from: value to start research from
- ... to: value to end research to
- ... with a step of: step between the above values
- Consider volatility: will filter signals using volatility - be aware that then important signals may be omitted
- Optimization process: interval, numbers of passes remaining, gain in points by passes, gain in local currency with 1 lot
- Run optimization: will start optimizing on selected interval
The best profit in points matching your choice for deal frequency is automatically selected.
- Trade settings:
- Distance to place orders: the order stop is placed at x points from the signal price (0 - deactivated)
- Take Profit in points: distance for taking profit at (0 - deactivated)
- Stop Loss in points: distance for cutting loss at (0 - deactivated)
- Trailing Stop in points: will follow far of x points a winning deal
- Risk in %: for automatic lot size adjustement
- Time filtering - day1:from1-to1/day2:from2-to2
- Days are: Mon(day), Tue(sday), Wed(nesday), Thu(rsday), Fri(day), Sat(urday), Sun(day), All (everyday)
- There are no limitations, many time-slot per days are possible (ex.: Mon:8-9/Mon:15-17/Tue:16-18 etc ...)
- Enter "help" inside the box for a memo
- Keep synced order pool with signals: no opposite order to new signal will be left in the order pool (ex: signal is now "buy", sell orders are removed)
- Autoclose position on trend change: no opposite position to new signal will stay opened (ex: signal is now "sell", buy positions are closed)
- Daily pivots: hide - show
- Notifications: sound, push, sound and push.
When Ermou Street is attached to a chart, a first optimization is mandatory.
Using 0 as a step, stoploss & trailing reproduces the arrow-to-arrow strategy used to calculate optimization results - it's not more dangerous, as a new signal close automatically the previous one.
ie: BUY - LONG POSITION - BUY - BUY - BUY - SELL (close the position).
When a new signal appears, the levels are automatically calculated, you're notified about and is placed only by clicking the Deal button or from the MT5 app of your phone/tablet. The deal opportunity remains until an opposite signal occurs.
The daily pivots are particularly useful for swing-traders, to adjust stops by yourself (trailing = 0) for example.
- Push notification: stay connected with the MetaTrader 5 app
- Sound notification
- Both: sound & push
TestingTesting the EA within the tester is done using an arrow to arrow strategy. To reproduce it in live, you'll just need to set stoploss, takeprofit, trailingstop to 0 & default step value. Depending the selected symbol, timeframe, results may be from excellent to deceiving.
Let me know.
- Added hedging support
- Code optimization to improve speed and memory consumption
- Optimization process improved
- Time filtering function changed (see howto)
- The deal is no longer marked as being valid once an order is placed
- Full overhaul :
*** a panel has been added
*** self-optimization & autoreoptimization implemented
*** automatization of standard tasks : stoploss, takeprofit, trailingstop, volume - the positions are fully managed - a click on a "deal" button is needed, all being auto-adjusted
- Product description updated
- 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)
- 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
- Clean notification system
- On sale as it's an end-product
- "Carry Trading" - get benefits holding long-standing positions
- Improved acceleration & directional module
- Imrpoved notification system: added an option to show (true)/ hide (false) signals regarding their swap (useful when carrytrading).
- Reduced memory consumption.
* Shows the timeframe, on which the signal for an MTF deal tracking appears.
* Once a position opened (i.e. long), a 2nd "long" arrow is displayed as a strong trend confirmation sign.
* Once a position opened (i.e. long), a 2nd "short" arrow is displayed as a strong reversal sign.
- Contract updater (active trades only): when a contract expires (i.e. Ger30Mar15), it opens the new one (Ger30Jun15) with the same settings and closes the old one if no position held.
- Added a Trend Preview: Bullish/Bearish/Flat (retrospective).
- Added a rent for 6 months: less would be irrelevant if working on M30 and more.
- Fixed minors bugs:
* Should not show the "... too slow, rewrite ..." any longer, seems also VPS ready
* Should not show the "Array out of range" any longer
* Correction of the levels lines drawing
* NormalizeDouble on lots size (push/expert tab)
TODO: Pearson's index implementation, not yet sure how.