• Overview
  • Reviews (2)
  • Comments (4)
  • What's new

Martingale EA by Hitz

Martingale EA is a Expert Advisor using martingale or grid technique to trade the market.


Trading strategy

Manual Entry + Automated Trade Management

Manual Entry: User can input the starting trade type in the EA based on their analysis. The EA has no intelligence of its own to decide the entry trade type. Intelligence can be added in the EA upon request.

Automated Trade Management: It manages the trade using martingale or grid technique.

After you attached the EA to a chart it will show the following information on the chart:

  1. Starting lot size
  2. Status of New iteration or Single iteration
  3. Lot size information
  4. Gapping information
  5. Profit booking information
  6. EA start and end times
  7. Currently opened trade information

You can hide all info on the chart by setting false to Display in Display Settings.

Blog: https://www.mql5.com/en/blogs/post/717790


Indicator Settings

Main Setting

  • Start Trade Type: First trade type (Buy or Sell).
    • Buy Trade: Open buy trade, run martingale in buy direction.
    • Sell Trade: Open sell trade, run martingale in sell direction.
  • New Iteration: One Iteration means average closing all running trades. If true, after closing all trades it will restart again from the First trade type.
  • Single Iteration: Run EA only for one iteration.

Lot Setting

  • Trade Lot Size Type: It tells how to calculate the next trade lot size.
    • Fixed Lot: It will take same lot size for all the trades.
    • Incremental Lot: It will add the Lot Incremental to the current lot to determine the next lot size.
    • Multiplier Lot: It will multiply Lot Multiplier to the current lot to determine the next lot size.
  • Starting Lot: First trade lot size.
  • Lot Multiplier: Multiply this by the last trade lot size to find the next trade lot size.
  • Lot Incremental: Add this to the last trade lot size to find the next trade lot size.
  • Repeat Lot Size: For how many trades repeat the lot size.

Gap Setting

  • Time Gap (in Minutes): Minimum time difference between 2 trades (it saves us when market jumps many pips in a very short time during news releases).
  • Gap Type: It represents the gap between 2 consecutive trades.
    • Fixed Gap: It means every consecutive trade has the same pip gap in between them.
    • Additive Gap: It means that the next trade gap is determined by adding Gap Add to the last gap used.
  • Gap: Gap in points in continuous trades.
  • Gap Add: In case of Additive, extra gap addition in continuous trades.
  • Gap Add After: In case of Additive, start adding extra gap after this number of trades.
  • Maximum Gap: In case of Additive, maximum gap size. If a gap is more, this value is used.

Profit Setting

  • Profit Book Type: Points, Currency or Both.
  • Profit in Points from BE: Profit in points from Break-even.
  • Set hard TP for Points: Enable to set TP for the trades.
  • Profit in Currency: Profit in account currency.
  • Loss in Currency: Loss in account currency.
  • Stop-out Point: When equity reached this level, all the trades are closed and EA is disabled to open any new trade.
  • Hard SL: SL for all the trades, it is calculated from the first trade in martingale/grid.

Trading Time Setting

  • EA Stop Time: Enable the stop time for the EA
  • Stop Time: If EA Stop Time is enabled, EA will not run any more iteration after this time
  • Monday Off: No new iteration on Monday, but open trades for already running iteration
  • Friday Off: No new iteration on Friday, but open trades for already running iteration
  • Daily Time Range: To enable the daily
  • Start Time Hr: For Daily Time Range, start time hour
  • Start Time Min: For Daily Time Range, start time minute
  • End Time Hr: For Daily Time Range, end time hour
  • End Time Min: For Daily Time Range, end time minute

Other Setting

  • Magic Number: Magic number used in trade
  • Comment: Comment on each trade

Display Setting

  • Display: Shows the indicator info on chart
  • Location: Location of the display window
    • Top-Left
    • Bottom-Left
  • Font Size: Size of the font
  • Other Color: General Color
  • Header/Footer Color: Header and footer color of display window
  • Background Color: Background color of display window
  • Position X: X-axis position of display window
  • Position Y: Y-axis position of display window

We recommend using EA in demo account first to understand all the functionality.


Author

Connect with me at https://www.mql5.com/en/users/hitaroratrader

You can contact me for:

  1. Any bug fixing or clarification in the EA.
  2. New Additions to the EA.
Gdamjb
87
Gdamjb 2018.10.30 21:47 
 

Great Martingale EA. Works to place orders if you have your own down or up trade identified

qw642910532
66
qw642910532 2018.05.07 08:17   

Hi,My friend, how do I set a stop loss? I want operate the ea like your signal? Can you give me a setting?

Version 2.1 2018.05.24
Bug fixes.
Version 2.0 2018.05.15
Following are the changes:
1. Bug fixes.
2. Added Maximum Loss in an iteration.
3. Added Stop-out point. It works as an Equity protection for the account.
4. Hard Stop-loss.