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Topic: Interest in MT4 sidekick like program for EAStudio?

Hi guys,

Long story short I’ve been very hard over the last month or two creating new codes and risk managements for EA Studio generated portfolios.

I am currently in talks with a programmer to create an EA pair which will work like MT4 Sidekick but for EA Studio.
Basically we run a demo account or micro account with as many portfolios as you like then we set rules of performance ie profit factor, expected payoff, net profit etc to copy only our best-performing strategies onto our live account in real-time.this will then allow us to only be running our best strategies for current market conditions.

The cost is quite high to have someone build this for me so I’m wondering if anyone else is interested and what would you be willing to pay for something like this?

I may be able to get it built and offer it anyone on here and all I ask is a donation if you can to help pay for the project, I’m not looking to profit from it but merely create software that compliments Popov’s awesome effort with EA Studio.

Thanks guys

2 (edited by Finmod123 2019-07-24 18:54:01)

Re: Interest in MT4 sidekick like program for EAStudio?

Hi, Michael!

I think that MT4 Sidekick needs some improvements to be more universal tool.
Now it works good for strategies with high number of average consecutive winners.
But, for example, if the strategy has on average 2 consecutive winners, the Sidekick will turn on this strategy to get losing trade on average (using 2 consecutive wins setting).
To be a universal equity trading tool for all strategies, it needs implementation of equity curve trading principles. For example, it should turn on the strategy if equity curve (for this strategy) is above moving average of this equity curve. And it should turn off this strategy if the equity curve (of this strategy) drops below moving average of this equity curve. The period of moving average should be an input parameter.
I can research other equity curve trading principles, but the one, mentioned above, is the most common among traders...
For example, I have video about equity curve trading principles of Unger (worldcup champion in trading)...

Re: Interest in MT4 sidekick like program for EAStudio?

Will this be for MT4 or MT5, that could be important as MT4 may disappear one day

Does the programmer have a date for completion?

Has programmer agreed to maintain the software for a certain length of time?

Yes, I will donate depending on the answers to those....  we can use such a product especially as EA Studio advances,

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: Interest in MT4 sidekick like program for EAStudio?

what should it cost and what do you imagine donating?

Re: Interest in MT4 sidekick like program for EAStudio?

Hi guys, thanks for the reply.

So basically the programmer lives here in Sydney, Australia where I am, which is a big benifit as I can visit the office etc.

Second, he will maintain the EA until everything is working correctly. Which is where I need to give him clear instrauctions as to what I want done. However minor changes he is more than happy to help with (as has done in the past for me).

It will be for MT4 as that is the platform I use. However I could ask to create a MT5 version if there enough interest in it.

Overall cost We are looking at $1500AUD

Re: Interest in MT4 sidekick like program for EAStudio?

Oh and sorry, donations are at your discretion. This is the way I see this happening:

1. I pay upfront for costs
2. I need and value others inputs on how the EA should be built ie what features does it need to have, how particular scenarios should play out. Money mangement etc.
3. Once EA is complete if you want it make a donation of your discretion and I’ll send it through.

Does this sound fair? Or is there a better way I’m up for any ideas from anyone on how to approach this project.

Re: Interest in MT4 sidekick like program for EAStudio?

Or actually better yet.... how about a go fund me page?

Re: Interest in MT4 sidekick like program for EAStudio?

what about ask popov...maybe a nice feature for eastudio

Re: Interest in MT4 sidekick like program for EAStudio?

Hello Michael,

Thank you for taking the initiative to start such a project!

I'm sure it will be useful for all EA Studio users.

I'm ready to participate and to donate EA Studio and FSB Pro licenses to the contributors (I actually prefer the developers to be traders with experience with MT Experts).

I think we can make this project open-source or at least open and free for all EA Studio users. It can be also an online application. I can take care of the server and the running costs.  Even better, I already have some developments in that area - a partially working parser of MT4 and MT5 reports. I can also provide all formulas, tables and charts from EA Studio and to make the new tool's reports looking like the EA Studio reports.

Re: Interest in MT4 sidekick like program for EAStudio?

I just checked the MT Parser I have started. It looks like I was working on it for two days in November 2018 and have some progress. Having it for a beginning and the experience and the technology from EA Studio we may be able to produce an online application relatively easy.

We can make a Skype talk to discuss the features of such an application. I'm working now on EA Studio refactoring and have started also a new dukascopy data feed service.  These tasks will take me several months. However, I can work 1-3 hours per day on this new application.

Re: Interest in MT4 sidekick like program for EAStudio?

Hi Popov,

That sounds great. So basically I can see this project going two directions at the moment:

1: I work with the MT4 programmer i have been dealing with to build an a copier with a number of metrics for measuring performance which will be two EA's one for the demo and one for the live account loaded on the same PC. How this is funded is still up in the air perhaps anyone who contributes get a licenced copy of the EA or we fund it and it be open source? I really dont know.

2: We (EA Studio community) work with Popov's idea and it be an online application. Im happy to help with funding and costs associated in building the application, testing and deveopling logical ideas however my coding experiance is average at best which is why I have a approach a MT4 coder.

Im more than open to ideas about how we go about this so Im looking forward to hearing from you all.

Re: Interest in MT4 sidekick like program for EAStudio?

Ops, sorry for my previous posts. I was thinking you speak for the MT4 Tracker sad

Anyway, the sidekick is a very different program. I have experience with that matter because I developed such service for Trading 212 for their ProQuant application. I completed my job for them and also have the rights to use my technology in other products and services. I'll read the Steeve's documentation for the Sid kick and will see what will decide.

I think we can running prototype for a week.

I stopped my earlier development of a program similar to the Steeve's MT4 Tracker because I did not want to compete with him. However, he informed me that he stopped the development and the support of his programs.  It means we can make similar programs even better integrated with EA Studio and FSB Pro.

Re: Interest in MT4 sidekick like program for EAStudio?

Popov wrote:

Ops, sorry for my previous posts. I was thinking you speak for the MT4 Tracker sad

Anyway, the sidekick is a very different program. I have experience with that matter because I developed such service for Trading 212 for their ProQuant application. I completed my job for them and also have the rights to use my technology in other products and services. I'll read the Steeve's documentation for the Sid kick and will see what will decide.


I think we can running prototype for a week.

I stopped my earlier development of a program similar to the Steeve's MT4 Tracker because I did not want to compete with him. However, he informed me that he stopped the development and the support of his programs.  It means we can make similar programs even better integrated with EA Studio and FSB Pro.


Haha not a problem!
Have a look at the documentation on sidekick and let me know your thoughts. I’m more than happy to help in any way possible to the development process however I do know that between EA Studio and FSB you have your work cut out for you.

Re: Interest in MT4 sidekick like program for EAStudio?

It looks like a centralised copper can provide some excellent opportunities.

I'll outline some ideas:

- We can run a high-speed proxy server (node.js) online.
- each user will have a unique ID for authentication for the "sender" and the "receiver" experts.
- the "sender" expert will run on a chart on the signal MT4 and will ping the status of the positions to the server.
- a "receiver" expert will take the status from the server and will trade on the local MT4.


It is possible to have multiple "sender" and "receiver" experts.

This service will be free for all EA Studio users. If other traders want to use it, they must agree that their signals will be anonimusly public. So that other traders may see the trading statistics and to subscribe to profitable signals.

The EA Studio users may decide to make their signals also public.
We can have online statistics for the signals. However, this is more complex because it requires accounts and personal content.

Re: Interest in MT4 sidekick like program for EAStudio?

That sounds like a pretty good idea to me!

The only question I have is this something that you would pursue and begin work/development on in the near future?

The timeline for my programmer is about 2-3 weeks to have a prototype up and running. This project is something I will begin in the immediate future.

Re: Interest in MT4 sidekick like program for EAStudio?

We can make a Position Aggregator:
- run one or multiple strategies on one or multiple time frames on a symbol. Let's say EURUSD.
- run the SideKick signal producer expert on that MT. It will send to the server the stats of the top strategies on that symbol.
- the server will monitor your traders and will aggregate the signals to one position on EURUSD. It will only trade the relative difference between the open live position and the sum of the opened demo positions.

The benefit is:
- Save from spread - imagine the demo has 10 long and 6 short positions of 0.1 lots. It means the demo pays 16 spreads. The live account will have open 1 long position of 0.4 lots. It will pay only 4 spreads.
- Save from Swaps - much lower trading volume to roll-over.
- Save from commissions.
- It immediately solves the USA FiFO limitations making actually possible to trade multiple strategies via one aggregate position.
- Much easier to maintain and protect 1 position per symbol.
- No need magic numbers (or make it much easier to maintain) - because we trade only one position per symbols
- Brokers suck... we win.

Re: Interest in MT4 sidekick like program for EAStudio?

I see exactly what your saying. So by taking one aggregate position which is a sum of all open demo trades on one symbol. How exactly could we calculate this, as well could we say only take the sum of strategies currently with a profit factor above 2 for example?

But just thinking of how that would play out. When do take the trade? Seeing as many strategies are opening and closing trades at different times during the day?

Re: Interest in MT4 sidekick like program for EAStudio?

I'm thinking about such a program for 4 years.  There are several ways to make it work.
One of the ways is to make a simulation of a trade server - something like a demo account, but without actual execution.
The server will keep track of the signals and the stats at the same way MT does it.

Because EA Studio trades at Bar Open, the individual positions will make their virtual trades to the server. The server will calculate the stats and will aggregate the position of the top 10, 15, 20... strategies. Then it will send a signal to the "execution" expert for correcting the real position. Of course, it will monitor for SL and TP activation.

It will have a simple web page from where will be possible to see the stats and to make settings of which strategies to include.

It will take some time, but it is not difficult to be done.

Re: Interest in MT4 sidekick like program for EAStudio?

Michael1, Just wanted to say thanks for opening this thread. Ive had a license for EA Studio for approx 2 years and love it - basically for its simplicity  - i like keeping things simple and have had ongoing success with EAStudio  but i agree something like sidekick would be amazing as i have been manually doing such the task for the entire time using excel.

Popov, the idea of an position aggregate is fantastic, even better is the idea of saving trading costs. Im assuming the exits will be partially closed based on the strategies exit conditions? or would it be time based only? Also having results web based and an open community of traders is a great idea, basically its becoming a MT signal provider but for EA Studio members only. I imagine this will do wonders for your product especially if users could opt to have their results published publicly so people can see the real power of what you have created here.

Im happy to offer assistance by what ever means i can as it is a huge step in the right direction, and something i would love to see happen.

Re: Interest in MT4 sidekick like program for EAStudio?

Popov wrote:

It looks like a centralised copper can provide some excellent opportunities.

I'll outline some ideas:

- We can run a high-speed proxy server (node.js) online.
- each user will have a unique ID for authentication for the "sender" and the "receiver" experts.
- the "sender" expert will run on a chart on the signal MT4 and will ping the status of the positions to the server.
- a "receiver" expert will take the status from the server and will trade on the local MT4.


It is possible to have multiple "sender" and "receiver" experts.

This service will be free for all EA Studio users. If other traders want to use it, they must agree that their signals will be anonimusly public. So that other traders may see the trading statistics and to subscribe to profitable signals.

The EA Studio users may decide to make their signals also public.
We can have online statistics for the signals. However, this is more complex because it requires accounts and personal content.

Wow, I love this idea!!!

Sounds like FSB can be like Zulu trade or Darwinex whereby members can be signal providers.

Excellent, hopefully this project comes to true.

21 (edited by hannahis 2019-07-25 15:59:59)

Re: Interest in MT4 sidekick like program for EAStudio?

Popov wrote:

We can make a Position Aggregator:
- run one or multiple strategies on one or multiple time frames on a symbol. Let's say EURUSD.
- run the SideKick signal producer expert on that MT. It will send to the server the stats of the top strategies on that symbol.
- the server will monitor your traders and will aggregate the signals to one position on EURUSD. It will only trade the relative difference between the open live position and the sum of the opened demo positions.

The benefit is:
- Save from spread - imagine the demo has 10 long and 6 short positions of 0.1 lots. It means the demo pays 16 spreads. The live account will have open 1 long position of 0.4 lots. It will pay only 4 spreads.
- Save from Swaps - much lower trading volume to roll-over.
- Save from commissions.
- It immediately solves the USA FiFO limitations making actually possible to trade multiple strategies via one aggregate position.
- Much easier to maintain and protect 1 position per symbol.
- No need magic numbers (or make it much easier to maintain) - because we trade only one position per symbols
- Brokers suck... we win.


I think it is good to make this Aggregate function optional instead of being the main feature which some traders may not want to have this "effects" 

You have mentioned the pro.

Here are the possible cons or limitations (for considerations) of lumping sum difference of the trades/aggregate.

1.  Different EA have different SL and TP or trailing settings, hence I'm not sure how integrating it would erode this diversity in strategies element.  Unless, you allow partial closing etc but it's too complicated to incorporate all the different strategies settings into one.

2. Different EA has different Closing rules, which EA's strategy does the Aggregate close?  Unless you allow partial closing?

3. It is important to have separate magic number for each EA/strategy to monitor each strategy's performance so that we can trim and replace the strategies with better ones over the time.  Lumping them together as 1 main strategy would deprive of the individual trade performance statistics for us to make our decision on EA selection/elimination process.  Though one possibility is to rely on the main/demo account's statistics to collect the statistic and not the actual trading/live account whereby only aggregate positions are opened.

4. Different EA have different opening and closing timing and hence, if there are new open positions, what does the aggregator do? It opens immediately the new open positions at the particular bar?  Or it wait till it gather more positions to do it's aggregating feature?  Opening at different timing from the original EA would affect the profit/loss because different timing also means different price entry and thus affects profit/loss results.

Re: Interest in MT4 sidekick like program for EAStudio?

I’m thinking I will create the EA mirror myself and licence it out.

What sort of features and metrics would people be interested in? What are the must haves?

Re: Interest in MT4 sidekick like program for EAStudio?

Hi all!

I'm curious about the status of this project. Was the design discussion taken offline? Or is it stalled at the moment?

Also, if there's an existing Github or open source repo, I'd love to take a look!

Re: Interest in MT4 sidekick like program for EAStudio?

I’m still working on the project hopefully it will be done in about 2 weeks then the EA will be in the beta phase of testing.

Just trying to work out the structure of R Squared. The included metrics will be profit factor, win/loss ratio (hopefully) R squared.

I plan on having a correlation regime filter, what I have come up with so far is if we get a signal on the same symbol and direction within X amount of time to reject the second signal. This is quite a hard thing to quantify and this is the best I can come up with. One other filter I have thought of is if we get a signal on same symbol and direction within X amount of pips to reject the signal.

The EA will include risk management so the entry size will be X% of account equity related to the stop loss and if the EA which sends the signal does not have a SL then a default lot size which is user defined will be used. However I always use a SL on all my EA,s as it is to hard to work on a portfolio level with EA,s that do not have a SL.

I have also put in max risk and reward for each day so if we get 10 signals per day for example but we only want to risk 2% of the account per day and we have set max risk per trade at 0.5% then we can only the first 4 signals per day.

Max reward will be if open profit = X% of account balance then close all trades for the day. As the user may be happy to take profits and run for the day.

When I say ‘day’ this is set to reset at broker hour X so the user can define when a trading day starts and finishes using the broker time.

As you can see there is quite a bit of work involved and more functions just mean more testing.

Re: Interest in MT4 sidekick like program for EAStudio?

Is it easy to include Risk of Ruin or is that too wonky an idea.

also. what about some contribution to this effort, I do not recall seeing much about this project and I know that I will want to use your product

thanks

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

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