TrendMeLeaveMe EA - As per Mark's presentation

[EugeneFXI]

Hey guys,

Here is the TrendMeLeaveMe EA that was used in Mark's presentation today.

Feel free to ask any questions about it in this thread!

[makaro]

Guide to using TrendMeLeaveMe

How it works:

TrendMeLeaveMe is used for capturing breakouts of uptrending or downtrending markets when you do not have the time to monitor. You do this by establishing your trendline and renaming it either “buystop” (for upside breakouts) or “sellstop” (for downside breakouts)

Input Variables:
For “buystop” (default small caps)

BuyStop_TakeProfit => pips take profit from entry
ButStop_StopLoss => pips stop loss from entry
BuyStop_Lot => lots to trade
BuyStop_StepUpper => pips above buystop (original trendline) to enter
BuyStop_StepLower => pips below buystop to activate routine posting limit orders

For “sellstop” (default small caps)

SellStop_TakeProfit => pips take profit from entry
SellStop_StopLoss => pips stop loss from entry
SellStop_Lot => lots to trade
SellStop_StepUpper => pips above sellstop to activate routine posting limit orders
SellStop_StepLower => pips below sellstop (original trendline) to enter

Notes:

Besure you activate "Allow Live Trading" after all you are using the EA coz you cannot watch over the market.

Credits:

This EA was developed by Waddah Attar.

[yarns90401]

Has anyone tested the EA? What kind of results did you get?

Thanks,

Yi

[arhemsi]

Hello,

I download the EA and attch to g.j 15 minutes chart then i draw a horizontal line at 226.41 and i name this line as buystop, and one line at 225.87 and named this as sellstop and now the EA is set to go?

Is this how you operate this EA?

[makaro]

Originally Posted by arhemsi

Hello,

I download the EA and attch to g.j 15 minutes chart then i draw a horizontal line at 226.41 and i name this line as buystop, and one line at 225.87 and named this as sellstop and now the EA is set to go?

Is this how you operate this EA?

Hi arhemsi,

Trend me leave is typically used when trying to catch the break out of a trend. If its an uptrend and you expect the support to give way you name the trend line "sellstop" and identify how many point after the break out you start selling through the 'SellStop_StepLower' variable.

The 'SellStop_StepUpper' variable is the number of points away from the trend line when you want the EA to begin putting pending sell stop orders in the market.

To illustrate this I have attached a chart where the EA was implemented, notice that you have four red arrows, these are the price points when the EA has placed a pending sell stop order, as prices went higher the EA readjusted these giving you your current sell stop (the green dashed line). Notice also the small bars on top of and below the price bars for the period the EA was active these represent your exit points, either at profit or stop loss.

Note that if you are new to using EA's you should leave the software running inorder for the EA to monitor the market for you. Turning metatrader off would affect an EA's performance in general it could either be that pending orders that should have been cancelled are left running or are not adjusted as conditions change.

If you are waiting for a break out of a plain sideways market, the normal sell stop and buy stop orders should be enough, infact i suggest using them because these orders are active even when you close down metatrader.

[arhemsi]

Aha.....the trendline not the horizontal line, my dear arh...lol

Thanks Makaro, for the explanation and also for your advice in the Hello Newbies thread. This is great forum.

I have another question tho',.....do i just leave the BuyStop_Trend_Info in the EA input tab as it is?? or do i have to write buystop there?? (after drawing my trendline and re naming it buystop)

[makaro]

Originally Posted by arhemsi

Aha.....the trendline not the horizontal line, my dear arh...lol

Thanks Makaro, for the explanation and also for your advice in the Hello Newbies thread. This is great forum.

I have another question tho',.....do i just leave the BuyStop_Trend_Info in the EA input tab as it is?? or do i have to write buystop there?? (after drawing my trendline and re naming it buystop)

If your expecting an upside breakout just label your resistance line / trend as 'buystop' no need to change 'BuyStop_Trend_Info'.

[MENSA PIPMASTER]

Do we have a Recording of the TrendMeLeaveMe Indicator showing setup and or use, mentioned in Eugenes 11-11-2007 post?

If there is one I can't seem to find it.

This tool seems very useful, especially if we can figure out how to make it Buy on the lower trend line and sell on the upper one, etc.

Thanks,

MENSA PIPMASTER

[rikhart]

Originally Posted by EugeneFXI

Hey guys,

Here is the TrendMeLeaveMe EA that was used in Mark's presentation today.

Feel free to ask any questions about it in this thread!

can't seem to be able to download the EAs. everytime i tried, it says windows cannot open this file etc

any words on that?

[EugeneFXI]

Originally Posted by rikhart

can't seem to be able to download the EAs. everytime i tried, it says windows cannot open this file etc

any words on that?

Ricky, you shouldn't open it with Windows.

Just save it into your MetaTrader's experts folder.

Remember how indicators go into Experts\Indicators?
Experts just go into Experts.

Thats all. Once the file is there, restart MT4, and the EA will be available via your MT4's Navigator, under Expert Advisers.