freeman

Related: freeman - another powerful expert for MetaTrader 5 traders.

note: for hedge accounts only! netting is prohibited!
stop loss and take profit are calculated
dynamically
based on iatr (average true range, atr) indicator - the indicator value on bar #0 is multiplied by

Also recommended: simple grid - similar expert with strong performance on MetaTrader 5.

stop loss
(for obtaining stop loss) and
take profit
(for obtaining take profit) ratio.
if there is more than one open position and there is no order to lock it, check for the possibility to average the position:

if there is a buy position and the current ask price goes below its open price for a distance equal to or exceeding
distance
, open another buy position.

if there is a sell position and the current bid price goes above its open price for a distance equal to or exceeding
distance
, open another sell position.
distance
is reduced to standard values for four-digit pairs.
the volume of the opened position can be either constant or calculated dynamically:

position volume is fixed -
lots
parameter exceeds 0.0, while
ris
k is equal to 0.0;
lots
parameter sets the position volume (lots)

position volume is dynamic -
lots
parameter is 0.0, while
ris
k exceeds 0.0;
risk
sets a risk per deal
trailing works as a stop loss mover to a breakeven (during the first position modification) and as trailing (for subsequent modifications).
trailing stop
is the minimum distance from the price to the stop loss after the modification,
trailing step
is a trailing step. both parameters are reduced to standard values for four-digit pairs.
bars control
parameter defines the ea operation: at the occurrence of a new bar only ("
true
") or inside a bar ("
false
").
forming trading signals
general parameter for trading signals:
current bar
is a current bar.
trend filter
the trend filter compares ima (moving average, ma) value on the current bar (
current bar
) with its value on the previous bar (
current bar
- 1)
minimum distance between price and indicator ma
. for opening buy, ma should be under the price, while for opening sell, ma should be located above the price.
rsi filter
rsi filter is based on comparing irsi (relative strength index, rsi) indicator value on the current bar (
current bar
) with the
rsi level up
and
rsi level down
levels. for a sell position open signal, rsi should exceed
rsi level up
, while for a buy one, it should be below
rsi level down
.
locking
if there is an open position and the last closed price of the same direction was closed with a loss, this is a prerequisite for locking. let's check this:

if there is a buy position and the previous buy was closed with a loss, while the current ask price is at a distance equal or exceeding
distance
from this buy position, open yet another buy position. it does not matter whether it is higher or lower - the value of the distance is taken as an absolute one.

if there is a sell position and the previous sell was closed with a loss, while the current bid price is at a distance equal or exceeding
distance
from this sell position, open yet another sell position. it does not matter whether it is higher or lower - the value of the distance is taken as an absolute one.
detecting the position closing moment is performed in ontradetransaction.
eurusd, m15:

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• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.