Cost averaging idea
I like Blessing too on some pairs ...
EA Crescendo and Cable Run are close to what you are looking for ... or am I wrong ?
Parabolic SAR EA
I found a system on this forum base on parabolic SAR using cost averaging.
https://www.mql5.com/en/forum/179208
I'm testing SAR-MARTIN EA and NIGERIAN TRADER EA. First one is trading better. Couples days done.
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First, Thank you all for your time posting so much good tools.
Second, if you are aware that I'M doubling a thread, please advice because I'm digging on the forum for a while and I didn't found what I'm looking for.
So here's what I'm thinking
I hate Martingale. I trade Blessing 3 live!!!
I don't like fix increment. If you believe the price action cannot go up 200 pips (10x levels) without moving down 20 pips, you didn't spend enough time in front of those charts.
I don't like stop and limit orders. If you believe you broker is honest... it's probably because you didn't spend enough time in front of those charts or you didn't trade live money.
Here's what I tried manually
Using SMA; EMA; smoothed henki ashi. I determine the trend on M5 and M1. (I used small TF for quick results). When trend confirmed on both TF, I enter on M1 on the next opening bar. (For example, let's use short trade)
M1 and M5 TF sma; ema; SHA are telling me trend is going down.
On the next opening bar, I entering 0.1 lot short. No TP and SL (for now, cause I'm exploring a theory)
My trade cost is now the price I paid.
I'm using a EA called (Close OPEN Orders by SET Pair After SET AccPROFIT EA). On the setting, you adjust the take profit on the pair traded at 10.00$
If PA (price action) is going with the down trend and the profit target is hit, the EA will close my short position resulting a 10.00$ profit.
If PA is against my short position, I'm shorting 0.1 lot on every next opening bar if the bid price is under my cost average. Hope every body understand the a 1.3800 short and a 1.3750 short is costing 1.3775.
lol
Still in my example. I took 8 short position of 0.1 lot because bid price was above my cost average.
Soon the account is going in profit by 10.00$, the EA will close all positions.
I attached a chart to help you understand.
3 things I like about it. No stop or limit orders. No TP and SL. The take profit EA in dollars is covering the spreads cost. I hope that's enough to blind myself from brokers!
I'm also thinking to differents version. Trade hours; Multiplying lot after (x) pips against position; Taking buy and sell on first bar.
Like I said, if you're aware of something existing like that, please help me find it. I'm also open to critics so any though are welcome.
All tools I used has been found on this forum.
Waiting your feedback!