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Hedging with Martingale (Recovery zone Trading Strategy)
I need Very Simple Expert Advisor with source code. The basic strategy is When the EA open the entry order. if the trade goes negative to 100 Points (adjustable variable) EA should open another order in opposite direction with double of lot Size. And does this further every 100 Points as it reverses. As it opens new positions, the ea should adjust the TP calculation so that the profit is still the same as the set TP & SL.
Sample:
Order No 1 |
Order Type |
Currency Pair |
Buy Order Price |
Lot Size |
1st Order |
Sell |
EUR/USD |
1.17000 |
0.01 |
Order No 2 |
Order Type |
Currency Pair |
Buy Order Price |
LOT Size |
2nd Order |
Buy |
EUR/USD |
1.17100 |
0.02 |
Order No 3 |
Order Type |
Currency Pair |
Buy Order Price |
LOT Size |
3rd Order |
Sell |
EUR/USD |
1.17000 |
0.04 |
Order No 4 |
Order Type |
Currency Pair |
Buy Order Price |
LOT Size |
4th Order |
Buy |
EUR/USD |
1.17100 |
0.08 |
Add input Variable
S/NO |
Variable |
Value |
1 |
EA on /Off |
True By Default False (option) |
2 |
Initial Trade Type |
Auto Trade (By Default) Manual Trade (Option) |
3 |
Auto Trading Type |
Parabolic SAR (By Default) Heiken Ashi |
4 |
Magic Number |
999 (By Default) |
5 |
Max Order |
8 (by Default) |
6 |
Distance between opposite direction Order( Points) |
50 Points (by Default) |
6 |
Initial Lot Size |
0.01 |
7 |
Lot Multiplier |
1.5 |
8 |
TP in Points |
100 Points by Default. |