Wave Fighter MultiPower
FeaturesPlatform: MetaTrader 4
Currency pairs: EURUSD, EURJPY, AUDJPY, NZDUSD, USDJPY
Trading time: around the clock
Recommended accounts: with minimal spread and five-digit quotes
Minimum deposit for minimum risk:
- 10000 deposit units for 2-3 pairs
- 20000 deposit units for 5 pairs
Details on the main algorithm. When the EA starts, it opens two trades with the same initial lot - BUY and SELL. Then everything depends on the market situation for each particular pair, for example, the price goes up. Thus, the BUY grid (currently only one order) becomes profitable and closes once the profit in money or profit in points is reached, depending on which one is reached first. These parameters are specified in the settings. After the BUY order closes, a new one is opened automatically. At the same time the SELL order becomes unprofitable. When the distance from the current price to the SELL order becomes greater than the minimum distance between orders, the experts filters are activated. Additional SELL order with an increased lot is placed when a signal is received. And so on, until the market reverses downward. Then the SELL grid is closed by profit in points or by profit in money (whichever is reached first). After it closes, a new SELL order with the initial lot is placed automatically. A downward movement was required to close the SELL grid, which means that the BUY grid has already lined up similar to the way the SELL grid had lined up.
This process occurs continuously and cyclically.
Description of the parameters
(all parameters in points should be entered for four-digit quotes, they are automatically recalculated for five-digit quotes):
- Automatic calculation of the lot – use automatic lot calculation or use the fixed lot from the next parameter.
- Starting lot ... - use fixed lot for trading (with auto-calculation disabled), or calculate the ratio to the next parameter and the current deposit.
- ... for this deposit – the deposit to calculate the ratio for lot size. For example, there are 20 000 cents on the account. Lot size is set to 0.01 per 10 000. The traded lot is calculated by the formula: lot=20000*0.01/10000. It is easy to see that in this case the traded lot is 0.02. The EA uses this formula.
- Profit in money in which the grid will close – this parameter is present for each individual pair, it is also the risk parameter. For example, the grid has accumulated a large volume, but it is profitable. Thus, it can earn 1 dollar (10, 100 dollars, depending on the lot size) much faster than it reaches the profit in points (20 points by default). If the specified grid profit is reached, the grid closes. Please note that this parameter, like the lot size, works based on ratio, but in this case it is refers to the number 1000. I.e., if your account has 1000 units, then once the grid profit equal to this parameter is reached, the grid closes. If your deposit has 10 000 units, then the grid will close once it reaches a profit of 10 times greater than specified in this parameter.
- Ratio - lot multiplier for each subsequent order
- The minimum distance between orders of grid – the minimum allowed between opening orders in points. It will not necessarily be exactly this value, but can not be LESS than this value.
- Profit in points at which the grid closes – once the grid reaches this profit in points, it will be closed.
- The percentage of the drawdown, which will close all transactions – if you want to protect yourself from large drawdowns, set the drawdown percentage to lock the losses.
- The magic number - the number for distinguishing the EA's orders from other orders.
- Don't open new grid? – if set to True, no new grids will be opened. This feature should be used to conclude the EA operation on the account. It allows to gradually close all trades without losing money.
The full description of the EA (in Russian) can be found here: https://www.mql5.com/ru/blogs/post/674799