I need help! A developer has written both an EA and indicator that are littered with bugs. I need someone to examine this thoroughly, and to also write a NEW martingale strategy for my existing EA. The strategy is based on renko wick reversal. Please see attached photo entitled "reversal EA strategy" to follow along.
In this photo the renko gap is 40pips, with candle size of 2pips. There are four examples in the photo. In respect to the first three, the middle line is the trade execution line. Since price is in a downtrend, as indicated by renko sentiment, then a sell order will be executed. The bottom line is the Take Profit line of 20pips. Take profit hit on all three examples. The fourth example follows the same logic, however as you can see, the bottom TP line of 20 pips has not been hit. Price is still running. The top line, SL, has not been hit either. So to clarify, when price reverses to middle line, a sell order will be opened with 20 pip TP(bottom line) and 20 pip SL(top line) automatically. On EA, “EnterAfter” is trade execution based on point where price reverses. In above example, this would be 20, because that is midpoint of renko gap size. Of course, this parameter can be changed by trader’s prerogative.
For martingale strategy, if SL is hit, I need the next trade to exponentially increase lotsize with hopes to recover previous loss. I should be able to change these parameters as I see fit. Take a look at the following example below starting with 0.01 lot size, representing a 40pip gap size.
10 cent 0.01 x 20 = 2.00
20 cent 0.02 x 20 = 4.00
40 cent 0.04 x 20 = 8.00
80 cent 0.08 x 20 = 16.00
1.60 dollar 0.16 x 20 = 32.00
3.20 dollar 0.32 x 20 = 64.00
6.40 dollar 0.64 x 20 = 128.00
........keep building upon this strategy. This will yield $2.00 every win(if it wins of course). I should also be able to change parameters of this based on renko bars. So for example, the 20pips could change to 40, if I am going for an 80 pip gap size. Also, the 20pip can be modified to another pipvalue to compensate for spread(20 changing to 18.2 for 1.8 spread)
I should also be able to set the maximum allowable martingale attempts(lets go to 13 attempts, so you will have to mathematically increase after the $6.40 all the way to 13 of these ). Once martingale has recouped past losses(hopefully), then martingale strategy will cease. At this point it MUST return to normal fixed lot size or account-based lot size stipulated in EA parameter!
1) Renko bars AND wicks will automatically rewrite themselves. There is constant repainting abound and this makes it impossible to implement any meaningful strategy. This can happen with historic bars farinto the past.
2) Sometimes EA will execute the trade the wrong way. So for example, a buy will be executed instead of a sell and vice-versa.
3) Reference image entitled "anomaly". This happens occasionally with code and needs to fixed. I don't know why this is happening and perhaps entire code needs to be re-written in order to fix this.
Note: I have ex4 and mql source files that will be disclosed for modification to the programmer. I will not post files in order to keep my intellectual property from being stolen!