Buy Sell Indicator EA

[Apprentice]

Based on the request.
https://fxcodebase.com/code/viewtopic.php?f=38&t=71646

Buy Sell Indicator.mq4

(8.86 KiB) Downloaded 396 times

Buy Sell Indicator EA.mq4

(13.49 KiB) Downloaded 366 times

[Momomi]

Hi, Apprentice

Since it's working well for me, can I request for this to have a Martingale option?
- Adjustable starting lot size
- Adjustable multiplier

Thank you

[Apprentice]

Your request is added to the development list.
Development reference 137.

[Momomi]

Hi Apprentice,

I came across a Martingale EA you developed posted on another post.
Alright, before you proceed with the above request, I would like to clarify the Martingale style:

- Entry is based on the indicator
- Adjustable starting lot size
- Adjustable multiplier
- Adjustable gap between orders
- Adjustable Take Profit distance
- Close all positions once PriceTarget is met

Now PriceTarget is actually the AveragePrice of all the positions opened by the Martingale + TakeProfit distance set by the user.

In Summary:
PriceTarget = AveragePrice + TakeProfit

So, as more positions are opened & accordingly to the multiplier set, the TP value changes because the AveragePrice changes. AveragePrice is like the 'Point Zero' for all the open trades (by the EA) or 'Break Even' aka $0.00. TakeProfit is our profit and this is in Pips.

So, how much $$ profit we make is dependent on the biggest lot size opened plus the TP pips.

[Momomi]

Here is an example of how I would like for the Martingale to work.

The Blue line is the AveragePrice; if price were to go to that point, the $$ of our trade is $0.00.
TP is a fixed distance that we set and this is based on the AveragePrice calculation.

For this case, say if price goes up again and another position is opened (based on my multiplier, next lot is 1.38), then AveragePrice is now higher. Likewise for the TP, it will go higher because it just follows AveragePrice.

This TP is set for all the opened positions; the same for all the positions opened by the EA.
Meaning, the positions 0.37 and below (in the picture) will close with losses BUT the overall trade is still profitable because of the bigger lot sizes above (Martingale).

I hope it is clearer now