Averaging down EA
This cost averaging Expert advisor (EA) places additional trades in the same direction as the original (manually opened) order when the price goes against you. It can be used as a grid system or as pure martingale system (exponential increasing of lot size) or smoothed martingale (for instance linear increasing of the lot size). Due to the risk involved, this EA is more suitable for intermediate to advanced traders who are well aware of how to handle risk management and trading an already profitable strategy or EA.
The EA can manage any manual trade or trade done by another Expert Advisor for the symbol on which this EA has been loaded.
- Many options to select from when an averaging down (grid) order should be opened.
- Possibility to open a lock (hedge) order for fixation of the floating loss.
- Information about the actual status of the order basket is showed in the upper left corner of the chart.
The EA supports ECN accounts and complies with NFA FIFO regulations. The EA can be used with a US broker account only when Lock (hedge) order is disabled.
It is recommended to test this EA on a demo account for a week to get a clear picture of how it behaves with different settings.
The following changes have been made in this version:
- a reorganization of a few parameters concerning the ADR (average daily range) function. The changes will be marked with blue color in the blog.
- added possibility to close half position at a certain amount of pips in pofit or when a specific ATR value has been reached. This function will only be used as long as there are no averaging orders opened.
- added the possibility to let the EA automatically put the first trade. When the trade or the basket has been closed a new trade will be opened again.
- added trailing stop and break-even options.
- added RSI strategy (for testing the EA in the strategy tester)