Hi Magix - thank you.
It's all a learning curve for me. The EA uses indicators to start a trading sequence. After that it never stops and does not use the indicators again.
Moving Average – MT4 Default
MACD – MT4 Default
Force Index – MT4 Default
My EA will trade both Long and Short positions (if hedging is allowed). Here is an example of a LONG position being opened:
When the three indicators agree the trend is LONG, a BUY is placed at .01 Lots with a TP of 40 pips. If the order hit Take Profit, a new order is opened at .01 continuing in the direction of the first. This will continue as long as the uptrend continues.
If the price action reverses (eventually it will), and the order goes negative 40 pips, an additional LONG order is opened at .02 lots, with a TakeProfit of 50 pips and the TakeProfit of the 1st order is moved to the TakeProfit of the 2nd order.
If the price continues to go negative another 40 pips, an additional LONG order is opened at .04 lots, with a TakeProfit of 50 pips and the TakeProfit of the 1st order and 2nd order is moved to the TakeProfit of the 3rd order, and so on. The process continues until the price reverses positive.
I have a limit of 10 iterations of the Martingale so the maximum lot size initially is 5.24 lots.
40 pips in distance seems to work best with most pairs. Although, I use 50 pips on the JPY pairs.
It's all a learning curve for me. The EA uses indicators to start a trading sequence. After that it never stops and does not use the indicators again.
Moving Average – MT4 Default
MACD – MT4 Default
Force Index – MT4 Default
My EA will trade both Long and Short positions (if hedging is allowed). Here is an example of a LONG position being opened:
When the three indicators agree the trend is LONG, a BUY is placed at .01 Lots with a TP of 40 pips. If the order hit Take Profit, a new order is opened at .01 continuing in the direction of the first. This will continue as long as the uptrend continues.
If the price action reverses (eventually it will), and the order goes negative 40 pips, an additional LONG order is opened at .02 lots, with a TakeProfit of 50 pips and the TakeProfit of the 1st order is moved to the TakeProfit of the 2nd order.
If the price continues to go negative another 40 pips, an additional LONG order is opened at .04 lots, with a TakeProfit of 50 pips and the TakeProfit of the 1st order and 2nd order is moved to the TakeProfit of the 3rd order, and so on. The process continues until the price reverses positive.
I have a limit of 10 iterations of the Martingale so the maximum lot size initially is 5.24 lots.
40 pips in distance seems to work best with most pairs. Although, I use 50 pips on the JPY pairs.