This robot owes its origin to its predecessor which can found here: http://www.mql5.com/en/market/product/10107. But as distinct from the latter, this EA is a multi-currency one and can trade ten currency pairs at a time.
The robot uses the Martingale principle and if you are a vigorous critic of this earliest strategy, I recommend to reconsider your point of view on that. If this strategy was not be so efficient, it would run out of steam long time ago. The EA not just averages positions. It trades on the tiniest fluctuations of the price, which allows to gain continuous profit. If used correctly, the EA can bring you significant profit within a short time.
Forex trading is quite a touch-and-go affair, and if you are afraid to risk, perhaps you should look for your place in less dangerous fields . If we had an unending life, perhaps I would also prefer the safest trading system with a minimum and stable profit. And I would have a great opportunity to grow rich in one or two hundred years. But we are time-constrained, and we have to risk in order to have success in life.
- OpenNewCycle = allow/prohibit opening a new series of orders
- TotalSymbol_1 - number of active pairs from 1 to 10 in the form of a drop-down list:
- _1_Symbol - the first currency pair in the list
- _1_LotExponent = multiplication of lots in the series (for the first pair)
- _1_TakeProfit = distance to the order profit (for the first pair)
- _1_PipStep = distance between orders (for the first pair)
You will find variables for other nine pairs further. When being tested and optimized, the robot automatically selects a currency pair according to the pair which you have specified in the strategy tester. When you optimize parameters, tick only those parameters which correspond to the current currency pair.
The EA should be tested and optimized by open prices, and resulting settings should be checked on every tick.
- MaxTrades = maximum number of orders opened simultaneously
- MagicNumber = order identifier
- Slippage = slippage
- UseTrailingStop = allow/prohibit trailing of orders (not recommended, as trailing prevents profit increase)
- ProfitTrailDist = distance in points to the breakeven point to enable trailing
- UseMultiClosing = enable/disable closing all orders in the terminal when a preset percentage of profit is gained
- ProfitPercAll = percentage of the total profit of all orders opened in the terminal at which all orders are closed if UseMultiClosing = true
- Auto_optimization = enable/disable automated searching and downloading the best results achieved when the EA has been optimized (you need to prepare the robot for optimization and launch the strategy tester in the optimization mode).
- Update = updating the archive where all data, obtained during optimization, are stored