CARMEN System Indicator (The CARMEN System Indicator) - MT4/MT5 Resources
This system is no longer under development .
The idea is to achieve small to zero losses in volatile markets and then make huge profits on trends.
Carmen has the simplicity of a moving average system where trades are opened and closed on MA crossovers, but she has 0 lag.
This system works on a one-minute time frame.
*****************************************************
The latest version, v4.00, has two themes: better ranging performance, and a simplified, more intuitive interface.
*****************************************************
Better ranging performance
The CARMEN indicator now actively uses three different methods to limit losses due to range:
1) When the transaction profit is 6-10 points, 50% of the position should be closed in advance. The exact value is determined by the variable Quick Profit . If the entire trade is unsuccessful, taking profits early will reduce losses to close to breakeven once the second 50% of the position is closed.
2) Until the entire width of the channel is in profit, the channel will follow the price a distance defined by the breakeven rate . Once the channel is profitable, it follows price with a distance determined by the much slower price. Expansion rate_1 . This will help the bottom 50% of positions be closed with minimal losses (or even small profits) in the event of a sudden reversal.
3) The secret indicator is used to measure trend strength. The indicator's period is defined as the period . When the trend strength is lower than the starting trend , then the channel line will turn red and new trades should not be initiated. When the channel line turns green again, it is relatively safe to open a new trade.
Simplified and more intuitive interface <br> System rules:
When the channel line is green When the MA moves out of the channel, a new trade is opened . If the price is below the channel, a position is opened. If it is above the channel, buy is opened. The MA should now be yellow. When the MA turns green , which can happen very quickly if the price continues to move in the direction of your trade, then close the position by 50% . When the MA crosses the channel again, close the second 50% of the position. If the moving average never changes from yellow to green, it means the price suddenly retraced. If the channel remains green , positions exist and new positions are opened when price exists on the other side of the channel. However if the channel is red , then simply keep the location there , but do not open a new one .
Setup instructions:
Play sound? : Play a sound when the indicator indicates that a trade is opened, a trade is closed, or a trade should be reduced.
Send_email? : Send an email when an indicator indicates a trade is opening, a trade is closing, or a position should be reduced.
Show message? : Displays a message when the indicator indicates that a trade is opening, a trade is closing, or a position should be reduced.
Space base : channel width (in points)
Buffer Plus : The channel will follow the price breakeven rate until the channel is Channel Width * Buffer Plus to a point above (or below) the order opening price.
Start of trend : If the indicator value is lower than the start of the trend , then the channel will turn red and new trades should not be opened.
Newland_Period : The Secret Indicator Period for Measuring Trend Strength
Breakeven rate : The channel will follow the price breakeven rate until the channel is channel width * buffer plus a point above (or below) the order opening price.
Quick Profit : MA will change from yellow to green, when the trade is profitable, 50% of the position should be closed Quick Profit Point
Expansion_1 : How far the channel will follow the price before profit reaches start_at_pips_profit_2
start_at_pips_profit_2 : Determines how much Main_expand_rate_2 a profitable trade must reach before the channel follows the price
Main_expand_rate_2 : Determines how well the channel follows the price when profit is between start_at_pips_profit_2 and start_at_pips_profit_3 .
start_at_pips_profit_3 : Determines how much Main_expand_rate_3 a profitable trade must reach before the channel follows the price
Main_expand_rate_3 : Determines how closely the channel will follow price when profit is greater than start_at_pips_profit_3
Carmen v4:
http://fiat-luxx.com/trading/pic1.gif
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http://fiat-luxx.com/trading/pic2.gif
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http://fiat-luxx.com/trading/pic3.gif
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renew:
v1.01-2NOV2009
- The indicator now correctly plots any currency by selecting 4 Brokers or 5 Brokers in the indicator settings panel.
- Indicator settings now have integer values.
v1.02 - November 2, 2009
- Indicator automatically determines 4 or 5 digit broker settings.
v1.03-2NOV2009
-I can accept errors in calculations, but errors in drawings drive me crazy. Fixed drawing issues when there is not much historical data.
v2.00 - November 3, 2009
- Traders can now set 3 sets of settings for three different market sentiments. The EA will automatically switch from one group to another depending on how profitable the current trade is.
v2.01 - November 5, 2009
- Changed some internal variables to make the indicator a little better
- Set some external variables to internal to simplify the interface. If you want them back, just change the source code.
v2.80 - November 11, 2009
- Lots and lots of changes
- Channels are now mirrored to trading range markets
- Settings now change based on distance from the underlying trend and trade profit
v3.10 - November 27, 2009
- More similar to versions prior to v2.8. The retracement is because 2.8 can only handle the range around the trendline, ranges in other areas still wreak havoc.
- The indicator now handles ranges by using two trailing take-profit lines to take profits as early as possible. These lines follow the price at user-defined distances, and these distances can be set to vary at three different user-defined profit levels.
- Setup instructions are in the indicator.
v4 - December 18, 2009
- Added several design features to limit losses caused by ranging
- Simplified interface to make it more intuitive
v4.01 - December 18, 2009
- Added requested feature: external variable for line thickness
- Reset alert trigger on MT4 shutdown
The idea is to achieve small to zero losses in volatile markets and then make huge profits on trends.
Carmen has the simplicity of a moving average system where trades are opened and closed on MA crossovers, but she has 0 lag.
This system works on a one-minute time frame.
*****************************************************
The latest version, v4.00, has two themes: better ranging performance, and a simplified, more intuitive interface.
*****************************************************
Better ranging performance
The CARMEN indicator now actively uses three different methods to limit losses due to range:
1) When the transaction profit is 6-10 points, 50% of the position should be closed in advance. The exact value is determined by the variable Quick Profit . If the entire trade is unsuccessful, taking profits early will reduce losses to close to breakeven once the second 50% of the position is closed.
2) Until the entire width of the channel is in profit, the channel will follow the price a distance defined by the breakeven rate . Once the channel is profitable, it follows price with a distance determined by the much slower price. Expansion rate_1 . This will help the bottom 50% of positions be closed with minimal losses (or even small profits) in the event of a sudden reversal.
3) The secret indicator is used to measure trend strength. The indicator's period is defined as the period . When the trend strength is lower than the starting trend , then the channel line will turn red and new trades should not be initiated. When the channel line turns green again, it is relatively safe to open a new trade.
Simplified and more intuitive interface <br> System rules:
When the channel line is green When the MA moves out of the channel, a new trade is opened . If the price is below the channel, a position is opened. If it is above the channel, buy is opened. The MA should now be yellow. When the MA turns green , which can happen very quickly if the price continues to move in the direction of your trade, then close the position by 50% . When the MA crosses the channel again, close the second 50% of the position. If the moving average never changes from yellow to green, it means the price suddenly retraced. If the channel remains green , positions exist and new positions are opened when price exists on the other side of the channel. However if the channel is red , then simply keep the location there , but do not open a new one .
Setup instructions:
Play sound? : Play a sound when the indicator indicates that a trade is opened, a trade is closed, or a trade should be reduced.
Send_email? : Send an email when an indicator indicates a trade is opening, a trade is closing, or a position should be reduced.
Show message? : Displays a message when the indicator indicates that a trade is opening, a trade is closing, or a position should be reduced.
Space base : channel width (in points)
Buffer Plus : The channel will follow the price breakeven rate until the channel is Channel Width * Buffer Plus to a point above (or below) the order opening price.
Start of trend : If the indicator value is lower than the start of the trend , then the channel will turn red and new trades should not be opened.
Newland_Period : The Secret Indicator Period for Measuring Trend Strength
Breakeven rate : The channel will follow the price breakeven rate until the channel is channel width * buffer plus a point above (or below) the order opening price.
Quick Profit : MA will change from yellow to green, when the trade is profitable, 50% of the position should be closed Quick Profit Point
Expansion_1 : How far the channel will follow the price before profit reaches start_at_pips_profit_2
start_at_pips_profit_2 : Determines how much Main_expand_rate_2 a profitable trade must reach before the channel follows the price
Main_expand_rate_2 : Determines how well the channel follows the price when profit is between start_at_pips_profit_2 and start_at_pips_profit_3 .
start_at_pips_profit_3 : Determines how much Main_expand_rate_3 a profitable trade must reach before the channel follows the price
Main_expand_rate_3 : Determines how closely the channel will follow price when profit is greater than start_at_pips_profit_3
Carmen v4:
http://fiat-luxx.com/trading/pic1.gif
******************************************************************
http://fiat-luxx.com/trading/pic2.gif
******************************************************************
http://fiat-luxx.com/trading/pic3.gif
******************************************************************
renew:
v1.01-2NOV2009
- The indicator now correctly plots any currency by selecting 4 Brokers or 5 Brokers in the indicator settings panel.
- Indicator settings now have integer values.
v1.02 - November 2, 2009
- Indicator automatically determines 4 or 5 digit broker settings.
v1.03-2NOV2009
-I can accept errors in calculations, but errors in drawings drive me crazy. Fixed drawing issues when there is not much historical data.
v2.00 - November 3, 2009
- Traders can now set 3 sets of settings for three different market sentiments. The EA will automatically switch from one group to another depending on how profitable the current trade is.
v2.01 - November 5, 2009
- Changed some internal variables to make the indicator a little better
- Set some external variables to internal to simplify the interface. If you want them back, just change the source code.
v2.80 - November 11, 2009
- Lots and lots of changes
- Channels are now mirrored to trading range markets
- Settings now change based on distance from the underlying trend and trade profit
v3.10 - November 27, 2009
- More similar to versions prior to v2.8. The retracement is because 2.8 can only handle the range around the trendline, ranges in other areas still wreak havoc.
- The indicator now handles ranges by using two trailing take-profit lines to take profits as early as possible. These lines follow the price at user-defined distances, and these distances can be set to vary at three different user-defined profit levels.
- Setup instructions are in the indicator.
v4 - December 18, 2009
- Added several design features to limit losses caused by ranging
- Simplified interface to make it more intuitive
v4.01 - December 18, 2009
- Added requested feature: external variable for line thickness
- Reset alert trigger on MT4 shutdown
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