This Expert Advisor does not use indicators, it trades using BuyStop and SellStop orders. All operation and calculations of the EA are based on currently placed pending orders and open positions. The EA automatically increases the lot size for position averaging. The stop loss level is set as a negative number specified in percent of the balance.
When the EA starts, two pending orders are placed. If an order is triggered, it is either closed by take profit, or (if the order is unprofitable) an additional order is placed in the same direction for averaging the loss. Thus, if the total profit of orders in the same direction is positive, such a series of orders is closed forcibly.
Description of Expert Advisor Parameters
- OrderLevel - distance from the current price to place the pending order, in points
- TakeProfit - take profit level, in points
- LevelAverage - price rollback level to place an additional averaging order
- TakeProfit_Average - value to calculate the take profit level for several positions simultaneously
- Drawdown_percentage - the minimum allowable drawdown percentage, after which all open positions are forcibly closed. Set as a negative percentage, for example = -5
- Choice_lot - method to calculate the volume of order: Fixed Lot - fixed volume specified in Value_for_lot, Volume of interest - volume as a risk percentage specified in Value_for_lot
- Value_for_lot - value for the Choice_lot parameter, fixed lot or risk percentage
- Slippage - max slippage allowed
- MagicNumber - ID of the EA