Martingale Plan B
The Expert Advisor uses averaging and the Martingale system. An initial trade is opened when the price touches or breaks through a price channel drawn at the distance of PriceStepChannel from the price and modified according to the TimeModifyChannel timer. If the price does not touch the channel level or cross it over a given period of time, no trade is opened and the price channel is modified. The Expert Advisor contains a function for limiting the opening of new orders in case a preset maximum drawdown is reached. The recommended minimum deposit is 100 USD (Cent accounts). Use the EA on a VPS server with low latency.
Expert Advisor monitoring: https://www.mql5.com/en/users/moneystrategy/signals
- The minimum deposit for a Cent account must be at least 100 USDcent, for a dollar account - not less than 100 USD;
- Reserve of funds outside the trading account - 100-300% of your initial deposit;
- Leverage 1:100 or higher;
- After your launch the EA, make sure that the Internet connection is always on (connection losses may cause loss of deposit), therefore it is highly recommended to run it on a VPS server;
- Timeframe does not matter;
- Run it on high liquidity pairs (EURUSD, USDJPY, GBPUSD, USDCHF, EURJPY, USDCAD, AUDUSD);
- For stable profitability, it is recommended to use one trading account for only one currency pair. Trading several currencies at a time may result in loss of deposit.
- Balance Risk — calculating trading lot of risk balance;
- First Lots — fixed trading lot if BalanceRisk = 0;
- LotsMultiplier — lots factor, if parameter = 1, the lot is fixed;
- TakeProfit — Take Profit in points;
- MaxDrawdown — maximum drawdown, above which the advisor does not open orders;
- PriceStepChannel — step of the price channel in points from the Ask / Bid price;
- TimeModifyChannel — modification of the price channel in seconds;
- FirstStepOrders — step of opening new orders in points;
- StepMultiplier — multiplier of steps to open orders, if parameter = 1, the step is fixed;
- Slippage — maximum slippage;
- TrailingStop — step of the trailing stop for placing a level of a closed position;
- TrailingStep — step of trailing stop for free movement of prices;
- Magic — magic number;
- Com — comment to orders;
- ShowInfo — show / hide information;
- TextColor — text color;
- UpCol — color of the upper channel line;
- DnCol — color of the lower channel line.
How to Use
Set the minimum initial lot. Do not deposit all your money to your trading account, calculate the deposit size so that any time you can add 100-300% from you initial deposit to your account balance. Set the MaxDrawdown parameter to 10 to 40%, this will provide enough time to take further actions, namely:
When the EA reaches the maximum drawdown of your deposit, it will no longer open new orders and inform you about it in the log. This is especially useful when you are not near your computer or when you sleep.
Your next steps:
- When drawdown 40-70% is reached, add 100% of your initial deposit to your account balance and change the MaxDrawdown parameter to 100%
- When the EA closes all orders with profit, withdraw all the profit including additional deposit, leaving only the initial deposit on your account.
Expert Advisor Optimization
In order to make the EA more or less aggressive, optimize the following input parameters for the currency pair, on which the EA is to run.
- LotsMultiplier — lot multiplier, values 1 to 3;
- TakeProfit — take profit in points, values 10 to 100;
- MaxDrawdown — maximum drawdown, reaching which the EA will no longer open orders, values 10 to 50;
- PriceStepChannel — price channel step in points from the Ask/Bid price, 5 to 15;
- TimeModifyChannel — modification of the price channel in seconds, 10 to 120;
- StepOrders — step for opening new orders in points, 10 to 150.
Now the EA can be run on multiple currency pairs simultaneously. If there are open positions on one pair, the EA will avoid opening new orders for another pair if such a signal occurs. It continues working with the pair with open trades.