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Rules
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Specification
Create an MT4 EA.
Timeframe: 15 minutes chart.
Maximum number of trades: 15
Hard stop at 33%
Starting lot size: 0.10
Use the 21 SMA indicator.
If there are no open positions and Ask price is above the 21 SMA, then Sell.
If there are no open positions and Bid price is below the 21 SMA, then Buy.
Use a martingale-style strategy as follows:
- First position’s take profit: 3 pips.
- Pip distance between first and second position: 6 pips. Multiplier between first and second position: 1.1x Take profit for the second position: 4 pips. When the second position reaches take profit level, close both positions together at the same time.
- Pip distance between second and third position: 7 pips. Multiplier between second and third position: 1.2x Take profit for the third position: 5 pips. When the third position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between third and fourth position: 9 pips. Multiplier between third and fourth position: 1.3x Take profit for the fourth position: 6 pips. When the fourth position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between fourth and fifth position: 12 pips. Multiplier between fourth and fifth position: 1.4x Take profit for the fifth position: 7 pips. When the fifth position reaches take profit level, close all positions in the same cycle together at the same time.
From this point lot sizes don't increase, multiplier values don't increase.
- Pip distance between fifth and sixth position: 16 pips. Multiplier between fourth and fifth position: 1.5x Take profit for the sixth position: 8 pips. When the sixth position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between sixth and seventh position: 21 pips. Use the same lot size as the previous position’s lot size. Take profit for the seventh position: 9 pips. When the seventh position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between seventh and 8th position: 27 pips. Use the same lot size as the previous position’s lot size. Take profit for the 8th position: 10 pips. When the 8th position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between 8th and 9th position: 34 pips. Use the same lot size as the previous position’s lot size. Take profit for the 9th position: 11 pips. When the 9th position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between 9th and 10th position: 42 pips. Use the same lot size as the previous position’s lot size. Take profit for the 10th position: 12 pips. When the 10th position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between 10th and 11th position: 51 pips. Use the same lot size as the previous position’s lot size. Take profit for the 11th position: 13 pips. When the 11th position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between 11th and 12th position: 61 pips. Use the same lot size as the previous position’s lot size. Take profit for the 12th position: 14 pips. When the 12th position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between 12th and 13th position: 72 pips. Use the same lot size as the previous position’s lot size. Take profit for the 13th position: 15 pips. When the 13th position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between 13th and 14th position: 84 pips. Use the same lot size as the previous position’s lot size. Take profit for the 14th position: 16 pips. When the 14th position reaches take profit level, close all positions in the same cycle together at the same time.
- Pip distance between 14th and 15th position: 97 pips. Use the same lot size as the previous position’s lot size. Take profit for the 15th position: 17 pips. When the 15th position reaches take profit level, close all positions in the same cycle together at the same time.
In the EA, under the Input tab, only display the following Inputs:
- Starting lot size
- Maximum number of orders
- Hard stop
Make other Inputs hidden.