PRELIMINARY INFORMATION
The EA will be based on a Martingale system, but focused on drawdown saving.
The EA will be semi-automatic, it will only start taking trades when the user types “XXXXXX START” in the Telegram channel connected to the EA, then the EA will take and close trades according to its operation.
XXXXXXXX: Any currency pair, e.g. EURUSD, GBPUSD, EURCAD, USDCAD, GBPCAD, EURJPY, GBPJPY, GBPCHF, NZDUSD, EURNZD, GBPNZD, XAUUSD (for gold the EA should apply the same taking into account that 1 pip equals 10 pips), etc.
OPERATION AND ENTRY AND EXIT CONDITIONS:
1) Identify in each currency pair or currencies selected in real time, a downward or upward movement of X amount of pips, configured by the user, (for example 150) with the condition that in this movement there is no retracement greater than or equal to Z pips, configured by the user (for example 45).
Z: In a bullish or bearish move, if the price retraces Z pips, the EA restarts its pip count until the condition of point 1) is met.
2) After the EA identifies the scenario raised in step 1, an alert will be instantly sent to the Telegram channel connected to the EA (a message containing the currency pair (XXXXXX) and the amount X of pips reached fulfilling point 1)), for the EA to start taking trades the user must write in the Telegram channel “XXXXXXXX START”, and the EA will immediately take the first operation in the opposite direction to the movement identified in point 1, with a lot A and a TP B, as the price goes against it will continue taking operations by fixed levels every C pips, with a higher lot and a hedging TP.
Alert: From the first alert when identifying the amount X of pips of point 1), the EA will send alerts for each subsequent level, fulfilling the condition of point 1).
Levels: The EA will have 8 levels, but it should be at the user's option how many levels to use.
A: This take profit will be higher for each trade per level.
B: This take profit will be the same in each operation.
C: It is the distance in pips between each level
*The user must be able to modify the parameters A, B and C. These parameters must be modifiable by the user.
3) Touching the TP of any trade on any currency pair will automatically close all trades on that pair, as that TP will always guarantee hedging. All trades on the pair(s) where the price has touched the set SL will also be closed.
*The user should be able to manually close all trades on a specific pair by typing in the Telegram channel “XXXXXXXX CLOSE”.
Below is an example table with parameters A, B, C, X, Z and Levels:
Summary of the example:
Price reaches 65 pips (X) without having retraced 15 pips (Z), the EA sends an alert to Telegram and the user writes “XXXXXXXX START” and the EA takes the first trade at level 1 with lot 0.01, if the price reaches level 2, the EA takes the next trade and at the same time sends the next alert.
Note: in this example, we assume that the user types “XXXXXX START” right when receiving the alert at X = 65 pips, but in reality the user may take some time to do it. Therefore, level 1 starts right at the price when the user types “XXXXXXXX START”.
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