I'm really liking the EA so far, but there are a few input settings I don't understand that were not explained in the description (and Google and YouTube isn't helping much either):

1) I know the trend filter is for the EA to only place trades during a trend, but what is the "trend filter threshold" below it, what is it used for, and what does the default value of "200" mean?

2) After looking it up, I have a basic understanding of what a volatility stop loss is (though I haven't used it before), but what is "volatility coefficient" and what does the default value of "100" mean? And the same for volatility take profit, what does the default value of "0" mean for that?

3) How do I use the MMI filter and what does the default value of "74" mean for the MMI randomness factor?

Most of the EA's I've used so far were pretty basic and didn't have these settings (besides the trend filter, but none asked for a threshold number).

Hi Lucky,

1. The trend filter is designed using a moving average of High/Close/Low data. In simple words, the trend filter threshold is actually the period of the moving average. 

2. Volatility stoploss or takeprofit is calculated using the current value of ATR. The volatility Coefficient is like a multiplier.

For example, if the current value of ATR on EURUSD is 80 pips and the chosen volatility coefficient is "100", EA will use the 100% value of current ATR.

If you choose the volatility coefficient of 200, EA will use 200% of the current ATR. In our case, that will be 160 pips (200% of 80 pips).

3. Market Meanness Index(MMI) is not a popular filter, but it can help filter out the false signals in trend following strategies. It is believed that if the MMI is above the 74 level, there could be a randomness in the market and trend following strategies should avoid new positions until the MMI settles below the 74 level again.

There is not much information available about the MMI on the internet, I think we will cover it in a blog post + custom indicator.


Let me know if you have any other questions. 
Best regards,
Nitin.

Okay, thanks. I understand it a lot better now. I'll let you know if I have anymore questions.

Hello,

Could you explain what is ATR ?

I'm trying to setup your EA because now, for example he loses 430 $, could I send you a screen capture ? 

What should I change in the properties ?

Stop loss is "false" should I use "true"

Thanks for you answer

Louis

Hello,

I am having error in the Experts Tab and the EA is getting removed automatically. Can you please advise how to resolve this?

Thanks!

-Arin

Could you please try loading the Daily time-frame and make sure it's updated to the latest price. 
EA requires some data from the daily tf. 
Such error usually appear when EA unable to fetch the required data from the daily tf. 

I really wish I could have made the most of this EA, but I had to stop using it this past June or July because I have not been able to make it profitable. I had to remove my 5-star rating for that same reason. Even when it does take a big 100+ pip when, the market will usually go into a range afterwards and wipe out the profits because this EA doesn't have any good confirmation methods based on volume and/or price action that will keep it out of bad trades. And the trend filter and the vortex filter will sometimes prevent the EA from entering those big-win trades I just mentioned.

I know it might sound highly unconventional and to the contrary of what you will hear a lot of gurus in this industry say, but I now think the martingale money management strategy is best for algo trading because it recovers losses and doesn't require a winning trading strategy to profit in the long-run. One thing I learned from my short stint in marketing is that sometimes it is best to do the opposite of what all the experts and influencers tell you to do. And just like trading, it's widely estimated that over 90% of all people will fail at both (trading and marketing). So why use all the same tools and strategies they are teaching that most people from that same failing group started out with? Or even listen to their criticism of the martingale? Trust me, if you lose 7,8, 9, or even 10 times in a row from a single market or currency pair, the martingale is by far the least of your problems! A half-decent trading strategy with a near 50% win rate (even a 30% win rate can keep you in profit in the long-run) and the martingale will do a lot better than this EA in continuously producing long-term profits. I'll probably reconsider using this in the future if/when the martingale (and a spread filter would help as well) is added. Until then, it was a waste of money for me.......

UPDATE: I found a way to make this EA work. I originally didn't use the Chiko Span Breakout and Kijun-Price Cross options because they didn't have advanced options, but using them with a 100 period moving average filter and a 10:1 RR Ratio (Kijun Sen Trailing Stop closes most trades anyway) made a big difference by only taking trades in the direction of the trend and using the Kijun Sen as a trailing stop loss. I'm using the strategies below (set file) on the 1 hour timeframe with all 7 major currency pairs and ALL JPY pairs......it works best with the JPY pairs. These strategies are better than when I was trading this EA with the Tenkan/Kinjun Crosses, the Kumo Breakouts, and sometimes, the Kumo Twists because it uses the Kijun Sen as a trailing stop loss, instead of senko span 2 or the tenkan sen crossover which sometimes happen after price crosses the kumo altogether on a reversal. The Kijun SEn is the best trailing stop loss out of the other han-ne lines used for traling stops (senko span 2, and kijun-tenkan crossover) because it's close to price and not affected by price changes much because it analzes the equilibrium point of the MID-RANGE trend, therefore it is usually flat during a ranging market and losses are not as big as with the kumo breakouts and tenkan-kijun crosses, and it gets you out of trades at near-perfect times during trending markets unlike those options as well.

Download the set file and try it for yourself. Again, I use it for all 7 major currency pairs and every pair involving the Japanese Yen (best pairs for Ichimoku trading), but you can probably use it for the crosses as well (Don't touch the exotics with a 10-foot pole).

I have a 870+ pip unrealized PL with those pairs and that set file right now, and losses during a range (when there are losses during a trend because the 100 period MA filter reduces a few of them), it's only about 5-10 pips because again, the kijun sen is a han-ne line that remains straight during a ranging market. That strategy is good, but I'm still using the martingale strategy I mentioned above as well, and that's been producing a 30-50% monthly ROI for like the past 6-7 months. I'm not posting that strategy though.......