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- 2023.09.26 12:00
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The "Martin Gale Breakout" strategy is an Expert Advisor (EA) designed for trading in the Forex market. This EA combines a breakout trading approach with elements of the Martin Gale money management system to optimize trading performance.
Input Parameters:
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TakeProfPoints: This parameter allows you to set the Take Profit level in points for each trade.
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BalancePercentageAvailable: Specify the percentage of your account balance that will be used for trading.
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TP_Percentage_of_Balance: It determines the percentage of your account balance to be used as Take Profit for each trade.
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SL_Percentage_of_Balance: This sets the percentage of your balance to be allocated as the Stop Loss for trades.
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Start_The_Recovery: This parameter plays a crucial role in the recovery process, controlling when and how recovery measures are activated.
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TP_Points_Multiplier: A multiplier for Take Profit points, allowing for flexible profit-taking strategies.
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MagicNumber: An identifier unique to this EA, ensuring it can manage its own trades independently.
Strategy Highlights:
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Breakout Trading: The EA specializes in identifying breakout opportunities in the market, where price movements breach key levels.
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Dynamic Lot Sizing: Lot sizes are dynamically adjusted based on your account balance and risk preferences, following the Martin Gale money management principles.
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Loss Recovery: The EA includes a powerful recovery mechanism designed to recover losses by adaptively modifying trade parameters when necessary.
The main function that is used in this EA is the CalcLotWithTP() function which has 3 input parameters: Takeprofit, Startprice, Endprice. It calculates the volume needed for the trade so that it achieves the profit goal when it enters a trade at the Startprice and exits at the Endprice.
Everything in the code is commented, so that the understanding of it is made easier.
I've made a youtube video about it:
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