Martex ("martingale" and "Forex") is a universal Expert Advisor for Forex using hedging and martingale techniques. Martex can average not only its own orders, but also orders opened by another EA or by the trader manually. To do this, simply set the EA magic number to -1 (minus one). The Expert Advisor will be interesting for both beginners and experienced traders.
Features and advantages of the Martex EA
- can open orders in both directions, to buy and sell at the same time;
- can averaged not only its own orders, but also orders opened by another EA or opened by the trader manually;
- two averaging styles to choose from (Classic and Aggressive);
- two martingale strategies to choose from, based on different indicators;
- it is possible to trade only the initial lot size when using martingale;
- can operate without a martingale, as a normal trend-following EA;
- it has an optional stop loss;
- there are separate indicators for opening trading positions and for martingale;
- there are two customizable timeframes, one for trading and the other for martingale;
- it is possible to set a custom drawdown level, after reaching which the EA suspends its operation;
- it is possible to set a custom Stop Out level, after reaching which the EA automatically closes all open positions;
- it has trailing stop and breakeven functions for single orders and for orders with averaging;
- closing of single orders or series of martingale orders with profit when the direction of moving averages changes;
- when in profit, single orders are closed by take profit, while series of orders opened by martingale are closed by profit percentage based on balance;
- it is possible to limit the number of orders opened by martingale;
- the EA works with "Hot keys", which can be used to quickly close all open positions in the terminal;
- the Martex EA works on both dollar (USD) and rouble accounts (RUR);
- works on accounts with 4- and 5-digit quotes.
Parameters of the EA (shortened)
Block 1 «GENERAL SETTINGS»
- Magic Number - magic number;
Block 2 «RISK MANAGEMENT»
- Positions:- select the trading direction: Long&Short, Long or Short;
- Take Profit - the value of take profit;
- Stop Loss - stop loss;
- Use stop loss - use stop loss;
- Lots - setting fixed lot size;
- AutoLot - Risk in % - automatic calculation of lot size.
Block 3 «INDICATORS FOR TRADING»
- Timeframe for Moving Averages (MA) - timeframe for the МА;
- Close orders with profit on MAs - close orders when the МА direction changes;
- Period Long MA - period of the long МА;
- Shift Long MA - shift of the long МА;
- Type Long MA - type of the long МА (calculation method);
- Price Long MA - applied price for the long МА;
- Period Short MA - period of the short МА;
- Shift Short MA - shift of the short МА;
- Type Short MA - type of the short МА (calculation method);
- Price Short MA - applied price for the short МА.
Block 4 «TRAILING STOP AND BREAKEVEN»
Block 5 «MARTINGALE PARAMETERS»
- Martingale on/off - enable/disable martingale;
- Profit % martingale - profit percentage for martingale, when reached all orders will be closed;
- Drawdown in %, to stop trading - drawdown percentage, when reached trading will be suspended;
- Stop Out %, close all orders - loss percentage, when reached all orders will be closed;
- Loss in pips for martingale - loss in points to activate the martingale;
- Step martingale - minimum step between the martingale orders;
- Multiplier(Classic) - multiplier for the classic martingale;
- Style martingale (Classic, Aggressively) - selection of the martingale style;
- Divider (Aggressively) - divider for the aggressive martingale;
- Maximum number of orders - maximum number of orders for the martingale.
- Allow hedging - allow trading in both directions (allow hedging).
- Percentage for closing hedging orders - the percentage of profit at which hedged orders should be closed.
- Multiple close by - close hedging orders.
Block 6 «MARTINGALE INDICATORS»
Block 7 «WORK FRIDAY» - work on Friday.
The complete guide to the Martex EA, testing reports and the .set files can be found in the Comments section.
2. When closing hedged orders, you will be able to save on spread.
3. When opening simple orders based on two MAs, the distance between the MAs should be at least 1 point (10 pip for 5 digits).
4. Info panel has become more compact.
5. Now the EA takes into account not the total profit/loss on the account, but only the profit/loss on the instrument (currency pair) on which it is running.
6. Added an option "Disable writing in the log", which disables writing duplicate comments to the Experts log.
7. Updated and added a new set file and updated user manual.
Fixed minor bugs and certain inaccuracies in the operation of the previous version.
1. Made the total profit for orders with a martingale.
2. In Block 1 "GENERAL SETTINGS" added to switch the color of the chart background - "Background graphics".
3. In Block 2, "RISK MANAGEMENT" has replaced "Close profit on the bar" to "Close orders with profit on MAs"- the closing of orders with a profit on the moving average. Now open orders can be closed when it changes direction of moving averages (if there is profit).
4. Moved to the Block 2 select the direction to one-way trade BUY - Buy trades only и SELL - Sell trades only.
5. From Block 5 "MARTINGALE PARAMETERS" removed team "The initial volume of the lot". In order to set the initial lot size should be in the multiplier the "Multiplier" to put 1.
6. In Block 6 "MARTINGALE INDICATORS" added another moving average. You can now choose what strategy the EA will average a warrant at the intersection of two MA or when one MA breakouts.
7. Also in this Block 6 added the command "Close orders by martingale MAs" - closing orders martingale (with profit) by the moving average of that block.