The Expert Advisor balances the orders reducing a drawdown and fixing profit on trend reversals in any directions during high volatility.
The EA may trade both in mono and multi-currency modes. To do this, attach the EA to the window of another symbol changing MagicNumber and enter other inputs for the new symbol (for example, if you opened GBPUSD with MagicNumber = 8875932, set MagicNumber = 8875933 for another window, for example EURCAD, etc.).
By entering the market with two orders simultaneously (Buy and Sell) on a single currency pair, the EA accompanies each of them with a fixed take profit equal to Fibo level (of the appropriate timeframe) preliminarily calculated by indicators or found during the EA optimization in the tester within a certain time interval (at least a month, though a quarter or six months are more desirable). After Buy or Sell profit is triggered, the Expert Advisor places a Buy order if the previous one has been closed on Sell, or a Sell order if the previous one has been closed on Buy considering Martingale, combining both new and previous order's profits into one and moving the profit to the possible target point of the price.
Another (balancing) order is opened in the direction opposite to the former two ones with the value equal to the last order (with Martingale) creating the lock with the last order. This allows the EA to adapt to volatility and secure your funds. If volatility exceeds the estimated order take profit, the EA takes the profit repeating the previous operation and considering Martingale till the market reverses or volatility starts decreasing. Stop Loss is placed for the order in case of the market reversal. That Stop Loss can have a fixed value or a Trailing Stop.
After closing all previously placed orders by profit (they are currently connected by one profit), the Expert Advisor starts the new trading cycle by placing Buy and Sell orders. The cycle continues till the Expert Advisor is stopped.
- Ability to trade both in mono and multi-currency modes;
- ability to trade in manual and automated modes (traders can place their orders without interfering with the EA operation);
- trading during high volatility, important news, bullish or bearish market sentiments;
- working on all timeframes;
- working on any symbols;
- working on futures;
- after a sudden connection failure, the EA is able to instantly resume its operation re-calculating take profit and placing orders according to the algorithm;
- small number of input parameters allow you to quickly and efficiently test the product on history and select the parameter values that suit you best;
- minimum lot size is 0.01.
The drawbacks include selecting parameters on trading history. However, this is reduced by careful testing of symbols and balancing orders for adjusting a take profit for Fibo levels or market conditions.
- TP - take profit;
- SL - stop loss;
- Use Trailing Stop - enable/disable trailing stop;
- Trailing Stop - trailing stop value;
- Lots - lot size. The trading robot allows using any lot value fractional to 0.01 or 0.1;
- Martinlot - Lots multiplier for receiving greater profit without losses; see Martingale for details (– 1 means no Martingale and increased fractionality 0.1, i.e. 1+0.1=1.1, etc.);
- MagicNumber - integer constant used to identify orders;
- MaxLots - maximum allowed lot size. In practice, that looks the following way: in case the lot size is increased from, say, 0.01 to 2 by using Martingale, all subsequent orders placed by the trading robot will have the size of 2 lots. The Martingale will work only within 0.01-2. The parameter also serves for reducing the balance drawdown during strong bullish or bearish market sentiments and volatility.
Setup and testing tips
- Always select parameters with low drawdown and reasonable profit.
- If no orders are opened after you have downloaded the demo version, check the presence of a symbol quote history of your broker's terminal (in order to simplify the terminal download, brokers often remove trading history, thus making the EA operation impossible). You can download the quotes manually via the History Center (F2). If you are still not able to download trading history for a couple of months, then search for them on the Internet or change your broker.
- Feel free to read the terminal journal since you can often find your answers there. For example, if your testing freezes, the journal may point out one of the possible reasons, like small initial balance, incorrect parameters, mismatch between your and your broker's lot sizes, etc.