Lekki Indices Slayer
- Эксперты
-
Benito Okello Wayara
I am an experienced MQL5 Expert Advisor developer with over 5 years of hands-on experience in creating, optimizing, and testing automated trading systems for the MetaTrader platform. I specialize in developing tailored Expert Advisors (EAs) that help traders automate their trading strategies - Версия: 1.0
- Активации: 5
Lekki Indices Slayer is an automated grid-based expert advisor designed for trading indices and BTC (and other volatile instruments) on MetaTrader 5. It opens an initial position based on candle-close direction and then manages that position with a self-adjusting grid: adding volume against the market when price moves against the trade and taking profit once accumulated gains across the grid reach a defined target.
How it works:
- On each new evaluation cycle, the EA checks whether the current time falls within its permitted trading window (weekdays only, with a restricted period overnight).
- It compares the last two closed candles on the selected timeframe. If the price closed higher than the prior candle, it opens a buy; if lower, it opens a sell.
- Once a position is open, the EA tracks it against a take-profit distance and a grid distance. If the price moves in profit, it exits and takes gains. If the price moves against the position by the grid distance, it opens an additional position in the opposite direction with increased volume—building a hedged grid.
- As the grid grows, the EA continuously evaluates the combined floating profit of both buy and sell baskets. Once total accumulated profit exceeds the calculated profit target, all positions are closed and the cycle restarts.
- If the EA is removed from the chart or stops unexpectedly, it sends an email notification (requires email alerts to be configured in the terminal).
Note for buyers: this is a grid/martingale-style recovery strategy — position size increases when trades move against the initial direction. This can recover losing trades over time but also increases exposure and drawdown during extended trends. Test thoroughly on a demo account and use appropriate risk capital before running live.
Input parameters
| Parameter | Description |
|---|---|
| Take Profit | Target profit distance, in points, used to calculate the take-profit price for the active position and the overall basket profit target. |
| Grid Distance | Distance, in points, price must move against an open position before the EA opens an additional hedging position to average into the trade. |
| Magic Number | Unique identifier assigned to all trades opened by this EA, used to distinguish its positions from manual or other EAs' trades. |
| Start Lot Size | The lot size used for the first position opened in a new trading cycle, and the base increment added to the grid on each subsequent position. |
| Volume Decimal Places | Number of decimal places used when rounding calculated lot sizes, to match the broker's allowed volume precision. |
| Time Frame | The chart timeframe the EA uses to read candle closes and determine initial trade direction. |
