Martin Expert Advisor for Small Deposits
Info
The Martin Expert Advisor for Small Deposits is a Expert Advisor for MetaTrader 5 that a martingale-based expert advisor designed for small deposits, featuring a configurable parameter called 'number of bars to be skipped'. This parameter allows the EA to skip a specified number of bars after the last entry, reducing the risk of consecutive losses.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Martin Expert Advisor for Small Deposits
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.
What this tool does
A martingale-based Expert Advisor designed for small deposits, featuring a configurable parameter called 'Number of Bars to be Skipped'.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: VPS Toolkit: Secure Order Sending and Restart-Safe State for Expert Advisors - another powerful expert for MetaTrader 5 traders.
A martingale-based Expert Advisor designed for small deposits, featuring a configurable parameter called 'Number of Bars to be Skipped'. This parameter allows the EA to skip a specified number of bars after the last entry, reducing the risk of consecutive losses.Also recommended: Automated Live Testing for Expert Advisors on Demo Accounts - similar expert with strong performance on MetaTrader 5.
How it works: Consider a scenario where we have an initial buy position, and a new entry signal appears on the next bar due to the price moving down by a certain 'Step Between Positions'. If similar signals emerge on the subsequent two bars, a typical martingale strategy would open four consecutive positions with the following volumes (assuming a starting lot of 0.01 and a multiplier of 2.0):
- #1 Buy 0.01
- #2 Buy 0.02
- #3 Buy 0.04
- #4 Buy 0.08
This level of exposure could be detrimental to small deposits. However, our EA with the 'Number of Bars to be Skipped' parameter set to 3 would open the first buy position at 0.01, skip three bars, and then open the second buy position at 0.02.
Input Parameters:
- Volume: Position volume.
- Take Profit (in pips): Take profit value.
- Step Between Positions: Step between positions.
- Number of Bars to be Skipped: The number of bars to skip before opening a new trade.
- Volume Increase Factor: Volume multiplier for subsequent positions.
- Max Volume: Maximum allowable position volume.
- Min Profit for Close All: Minimum profit required to close all open positions.
Testing on EURUSD, H1:
Note: This description provides a clear and concise overview of the EA's functionality, ensuring traders understand its unique features and benefits.
You may also like: Programmatically Attach Expert Advisors with Custom Inputs to MetaTrader 5 Charts - excellent alternative for expert users on MetaTrader 5.
Source Code
#property version "1.001"
#include <trade\positioninfo.mqh>
#include <trade\trade.mqh>
#include <trade\symbolinfo.mqh>
cpositioninfo m_position; // trade position object
ctrade m_trade; // trading object
csymbolinfo m_symbol; // symbol info object
input double inplots = 0.01; // volume
input ushort inptakeprofit = 65; // take profit (in pips)
input ushort inpstep = 15; // step between positions.......
⚠ Limitations & Risk Warning
- 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.