What you need is each pedal "chain" in a "loop". The LS-2 will let you switch between loops - but only two. So you could set it up so it switches between: 1) no effects - pedal bypassed 2) MD-1 on loop A 3) TR-2 and CE-2 on loop B
If you want more loops, you will need more loopers.
If you find a PSM-5 you can leave all pedals on and put them on both sides of the switcher. Then you can change between the both by just step on it once and back. I prefer the PSM-5 before the LS-2 cause its just that simple. But cause of the simple thing it has its limits. Hope you understand a little of my point anyway. LS-2 is a great pedal too. The bad thing with the PSM-5 is that its a little bit tricky to combine all three pedals. With that unit you can only switch between the two settings. The LS-2 gives you the opportunity to use all in one setting.