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2016.02.01 09:41
Experts

Labouchere EA - expert for MetaTrader 4

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votes: 21

The Expert Advisor is based on the lot management according to the Labouchere system.

About the system

In theory, the SL and TP must be equal or almost equal. A trader takes a certain (any, the greater the lot, the greater the risks) sequence of lots. For example: 0.01 0.02 0.01 0.01 0.01.

During an order opening the first and the last element of the list are always added. That is, the first order will be 0.01+0.01=0.02. Let the order be profitable. Cross out the first and the last elements from the list. The remaining are 0.02 0.01 0.01.

Open an order with the lot 0.02+0.01 (the first and the last element) = 0.03. Let it be unprofitable. Add one element at the end, which is equal to the sum of the bet. Now the list is 0.02 0.01 0.01 0.03.

Open an order with 0.02+0.03 (the first and the last element) = 0.05. And so on.

The cycle ends once there are no more elements or only one element in the list. Stop opening orders, or start all over again.

About the Expert Advisor

  • Entries are made when there is an intersection of the main and the signal line of the stochastic.
  • Only one order can be in the market.
  • Entries are made during the opening of a new bar.
  • The Expert Advisor implements the option to run a new cycle after the completion of the previous one or to not open any more orders once the cycle completes.
  • It has a function of operation by time
  • There is a reverse function, instead of Buy it opens Sell and vice versa.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/14363

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