Martin
This is a powerful addition to your MetaTrader 5 toolkit designed to optimize market analysis and performance. This Expert Advisor serves as automated trading software. It is utilized to monitor financial markets and execute trades based on predefined algorithmic rules, enabling precise position management without the need for constant manual oversight.
How to Setup and Use Martin
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
Description & Settings
The Expert Advisor was created at the request of one of the forum participants.
A comment by vvx080: The idea is to create a grid of stop orders, e.g. we first set two orders sell and buy; once one of the orders triggers the second one should be deleted. If the trade is unprofitable, after 10 points we open an opposite order with the doubled lot. If it is unprofitable again, after 20 points we open another opposite order twice as large as the previous one. If again the trade is negative, after 30 points we open an opposite order twice as large as the previous one, and so on.
Under such conditions, there should be a lot of coincidence for the deposit to be completely lost. In case of a positive trade movement, we use a good trailing so that we could catch 300 profit points. No stop loss and take profit are used for orders, trades are closed at a common profit. This strategy is not afraid of trends or flat. During trend the total profit is trailed.
Here is the preliminary calculation of lots and deposit:
sell 0. 1 -10p = -1,
buy 0. 2 -20p = -3
sell 0. 4 -30p = -12
buy 0. 8 -40p = -32
sell 1. 6 -50p = -87
buy 3. 2 -60p = -213
sell 6. 4 -70p = -514
buy 12. 8 -80p = -1194
sell 25;6 -90p = - 2886
I think a deposit of 3000 should be enough, but the strategy can hardly reach the 8th or 9th order. I might be wrong somewhere, but the idea is like that. The Expert Advisor will be more accurate.
The EA uses a lot increase, but it cannot be called a pure martingale. Moreover, the EA does get out of flat, while many martingales cannot do.
Please add your comments and ideas to improve the strategy. However, please do not post "martingale is bad" ideas without checking the EA at least on a demo and without understanding its operating principle.
Expert Advisor parameters
InpStep
- step between positions.
InpProfitClose
- minimum profit, at which all positions will be closed.
InpLot
- position volume.
Testing results on EURUSD:
