Forex Warrior is a martingale grid Expert Advisor, which trades simultaneously long and short using a carefully chosen martingale-based strategy. Trades are added to the basket by pending Buy Limit/Sell Limit orders. Forex Warrior analyzes the market conditions and adjusts trading lots and take profit levels according to the direction of the main trend. All trading orders opened by Forex Warrior are assigned individual stop loss levels, which helps to control trading risks.
- SetName – the name of the set;
- Flag_Stop_Buy, Flag_Stop_Sell – block opening new baskets long (short);
- CloseAll_Buy, CloseAll_Sell – close all long (short) trades immediately;
- CloseBE_Buy, CloseBE_Sell – close long (short) basket after reaching the breakeven level plus BEpips pt;
- BEpips – parameter of CloseBE;
- CloseBE_AutoLevel – always close baskets when reaching the breakeven level plus BEpips pt, starting with this level;
- LotSize – the base lot value;
- AutoMM – auto money management;
- MaxDD – maximum allowed open drawdown;
- MaxDDPerCent – maximum allowed open drawdown, in % of the deposit;
- MaxGridLevel – the maximum number of grid levels allowed;
- CheckEquity – check equity before opening the next grid level;
- BasketStopLoss – the stop loss level of the whole basket, calculated from the last order of the basket;
- Gape_Protect – protect basket from the price gaps;
- GridStepPips – the base distance between the consecutive grid levels in the basket;
- TakeProfitPips – the fixed take profit level;
- StopLossPips – the fixed stop loss level of each order in the basket;
- LotMult – the first lot multiplier;
- MinLevelLotMult2 – starting grid level, for which the second lot multiplier is applied to;
- LotMult2 – the second lot multiplier;
- MinLevelGridShift – starting grid level, for which the grid shift is applied to;
- GridShiftPips – increment of the grid distance for each new level in the basket starting with MinLevelGridShift;
- MinLevelTPShift – starting grid level, for which the take profit shift is applied to;
- TPShiftPips – increment of the take profit level for each new order in the basket starting with MinLevelTPShift;
- TPTrShiftPips – amount for which the take profit level should be adjusted if the order is set in the direction of the trend;
- TPCtrShiftPips – amount for which the take profit level should be adjusted if the order is set against the direction of the trend;
- UseTrend – enable trend analysis;
- OpenOnlyOnTrend – start a new basket in the direction of the trend ONLY;
- TrendLotMult – lot multiplier if the basket is opened in the direction of the trend;
- TrendTF – timeframe on which the trend is analyzed;
- TrendLevel – threshold parameter for the trend definition;
- TrendPeriod1 – first period of the Forex Warrior trend indicator;
- TrendPeriod2 – second period of the Forex Warrior trend indicator;
- UseMultiGrid – enable the MultiGrid feature;
- MultiGridLogic – switches between two logics of the MultiGrid feature;
- Magic_MG_1, Magic_MG_2 – the magic numbers included into the MultiGrid feature;
- GridShift – the distance between the grids;
- UseTradingTime – enable time restriction for the first order;
- Hour_Start_Trade – begin hour for starting a new basket;
- Hour_Stop_Trade – end hour for starting a new basket;
- ShowBE – show the breakeven level on the chart;
- colBEbuy – color of the breakeven line for the long basket;
- colBEsell – color of the breakeven line for the short basket;
- Magic – magic number;
- Comments – comments of the trading orders;
- Verbose – write in the logs;
- comment_color – the color of the text;
- box_color – the color of the background;
- Slip – maximum allowed slippage.
First, the EA can now monitor the drawdown and alert the user by e-mail if the dangerous level of drawdown is reached. The e-mail notification should be set up in your MT terminal for this feature to function properly.
MaxDD_Email – the level of drawdown on the current symbol and current magic, in % of the account balance, at which the alert e-mail will be sent to the user. For example, with MaxDD_Email = 20, the alert email will be sent when the drawdown reaches 20%. If 0, the feature is switched off.
Second, the EA can now monitor the drawdown on the whole account and block opening of new baskets in all copies of Forex Warrior if the drawdown exceeds the specified level.
MaxDD_Stop – the level of the open drawdown on the account, for which the flag that blocks opening new baskets will be set up. If 0, the feature is switched off.
MaxDD_Release – if opening a new basket is blocked, trading will be resumed when the open drawdown reaches this value. MaxDD_Release should be smaller than MaxDD_Stop.
For example, MaxDD_Stop = 50, MaxDD_Release = 25. When drawdown reaches 50%, opening a new basket is blocked. Drawdown needs to recede to 25% for the normal trading to be resumed.
OpenOnNewBar (M1/M5/M15/M30/H1/H4/CurrentTF/No) – forces EA to open the first order of the basket only on the opening of a new bar of the selected timeframe.
The possibility to setup a detailed time schedule for opening new baskets is introduced.
TradeMon (TRUE/FALSE) – allow new baskets on Mondays.
TimeStartMon – begin of trading session on Mondays.
TimeEndMon – end of trading session on Mondays.
etc. for all other days of the week.
We added a custom optimization parameter that appears during the optimization of the EA settings in the strategy tester of MT. This custom parameter is the so-called recovery factor defined as the ratio: Recovery factor = Profit/Max.Drawdown. This feature is of great help for those users who develop their own settings for Forex Warrior.