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BuySellProf Gnome

Multipurpose expert. It solves the question of choosing a goal - the direction of price movement. Locking and hedging is the main principle of this advisor. According to the law of harmonic fluctuations, the price always returns to its original position and the forex market is no exception. Balancing simultaneously multidirectional orders, the expert fixes the profit on the market turns, the smaller the initial TP - take profit - the application that fixes the profit, the more accurately the market turn will be caught, but the drawdown will also increase. Therefore, we need a reasonable choice of the ratio of drawdown and profit for a particular currency pair. The expert is effective in conditions of increased volatility (lack of certainty of the direction of price movement, news release)  Expert Signals

BuySellProf Gnome Advisor - a miniature copy of the BuySellProf Expert Advisor. Designed for novice traders, with input parameters fixed in a certain range, to make a profit and reduce losses.

Advisor can trade both in mono and in multicurrency options. In the multicurrency embodiment, it is preferable to choose “major”, liquid pairs.  Only in the multicurrency version, when selecting opposite currency pairs, hedging begins to work. To do this, you need to attach the adviser to a new window of another currency pair with a change in the MagicNumber number and accordingly enter other input parameters of this currency pair.

Operation description

Entering the market at once with two orders (on Buy and Sell) on one currency pair, the adviser sets a fixed take profit on both orders for an amount equal to - TP. After triggering the take profit on Buy or Sell, the adviser sets Martingale based on the Buy order if the previous order closed on Sell, or vice versa, sets the Sell order if the previous order closed on Buy. Then it combines both profits, the new order and the old one into one common profit, moving it to the place of a possible price movement. At the same time, another order is opened - the balancer in the opposite direction to these two, with a value equal to the last order (with Martingale), creating a lock (castle) with the last order. This allows the adviser to adapt to volatility and save your money. If the volatility exceeds the expected take profit price of this order, the adviser, fixing the profit, repeats the previous operation taking into account Martingale and so on until the market reverses or the volatility begins to decrease. Stop Loss is set for this order in case the market reverses from a bullish to a bearish mood and vice versa. This Stop Loss can be set fixed or with Trailing Stop.

 When you close all the previously established orders by take profit (at the moment they are all connected by one take profit), the adviser starts a new trading cycle again, placing two orders on Buy and Sell, respectively, and so on until you stop it.

EA has an information panel that displays the account balance, profit for a currency pair, type of account (real, demo or competitive), as well as the ability to manually close profitable, unprofitable or all orders for a currency pair and current input parameters.

Inputs

  • TP - take profit;
  • SL - stop loss;
  • Use Trailing Stop - enable/disable trailing stop;
  • Trailing Stop - trailing stop value;
  • Lots - lot size. The trading robot allows using any lot value fractional to 0.01 or 0.1; fixed (0.01 - 0.1)
  • Martinlot - Lots multiplier for receiving greater profit without losses; see Martingale for details (– 1 means no Martingale and increased fractionality 0.1, i.e. 1+0.1=1.1, etc.);  fixed (1 - 2)
  • MagicNumber - integer constant used to identify orders;
  • MaxLots - maximum allowed lot size. In practice, that looks the following way: in case the lot size is increased from, say, 0.01 to 0.1 by using Martingale, all subsequent orders placed by the trading robot will have the size of 2 lots. The Martingale will work only within 0.01-0.1. The parameter also serves for reducing the balance drawdown during strong bullish or bearish market sentiments and volatility.  fixed (0.01 - 0.1)
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