N trades per set Martingale
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. 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 N trades per set Martingale
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 EA does a set of N number of trades and then:
This EA will scale up if all the trades were consec losses and will reset after
a set with all consec wins has occurred.
The set size is set by the parameter (N_trades_per_set)
If any other lower number of consec wins or losses occur per a set, the EA will not change the lot size, but will just start the new set with the same lot size as the previous set.
The idea is to increase the N_trades_per_set number higher to make the EA safer.
Try to test on strategy tester with N number of say 3 and then increase this number if the EA fails.
Some things it will depend on is the currency pair and the TP to SL ratio.
A TP and SL of 50 pips (4 digit pips) will be a good starting point. 100 may work well too.
The scale factor is the martingale scaling eg. 2x
The equity/100 000 is the initial lot size eg. $1000 /100 000= 0.01 and $3000/ 100 000= 0.03 etc.
USDJPY backtest no close on equity control points
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Second EA file: N trades per set martingale + close and reset on equity increase:
Default setting is equity +10 (if equity is $10 more than previous highest equity, close trades and reset)
Back test on USDJPY standard settings N trades per set martingale + close and reset on equity increase 2016 to 2019
start eq $2000
