ROLY POLY with ILAN two in one
Two in one - Roly Poly plus Ilan! The two most popular strategy with the elements of martingale are combined in one Expert Advisor and can operate together or separately. The parallel trading of these two strategies can significantly improve profitability and reduce risks in general due to the mutual hedging between the strategies.
Each of the two strategies performs well in certain market conditions, allowing to use the best of a variety of market conditions and to significantly reduce the risks that arise when using only one algorithm. With the simultaneous use of two strategies within one EA, traders have a great opportunity to study in detail the advantages of the two algorithms used as one strategy in the tester and apply them in practice.
The Expert Advisor can be used in a fully automatic mode, as well as for semi-automatic trading (run for one trading cycle). For example, a trader has determined the favorable market situation for one of the strategies, then he runs the EA and after it opens the first deal, the trader sets a flag to let it trade until a total profitable result. After a positive result the EA will stop trading based on the strategy.
Each of the strategies allows only one open position at the same time and the mandatory use of stop loss and take profit. This allows you to significantly reduce the risks of a technical nature, i. e. in case of power failure or communication problems your risk is always limited by the size of the stop loss and are not equal to the size of the deposit. In addition there is no need for the rapid closure of a large number of open orders in a period of high market volatility connected with release of important news.
Settings: Description, Defaults
- Use_Syst_1 - trade on the system is disabled, default is true.
- Magic - id of the system orders and positions, default is 123.
- Lot - lot size for the first deal of the series, default is 0.1.
- LotExp - factor o the lot for the next deal of the series, default is 1.65.
- SL - the stop loss on points, default is 30.
- TP - the take profit in points, default is 60.
- SignPoints - size of movement to determine the signal (in points), default is 10.
- SignDirection - type of signal, 1/0 - in the direction of the movement/against the movement, default is 0.
- StopAfterProfit - stop trading on the strategy after profit is made, if false (default) - disabled.
- Slippage - maximum slippage in points, default is 10.
For the second strategy the list of settings is completely the same.
How to Install the EA in МetaТrader 4
Download the EA and save in МetaТrader 4/Experts/. After that restart the terminal and in the account history tab select history of no less than the last month. Then open the navigator window, find the EA and drag it to the chart. This will open the settings window. Specify the desired settings or use the defaults and click OK. The EA will start operating.
Recommendations on Trading
Recommended initial deposit for the long term trading is 10000 units or more, leverage 1:500 or higher. If the leverage is smaller, it is recommended that you increase the initial deposit respectively. Minimum volume is 0.01 with the minimal step for lot increase 0.01. Before you run the Expert Advisor on a real account, make sure to thoroughly test it in the strategy tester, estimate potential possible maximal risks and select the best parameters using optimization.
For a short term automated or semi automated trading or for running the EA for one trading cycle, the user should determine potential risks and profit based on a thorough analysis of the current market state.