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Summary
· It is a semi-auto EA with martingale / grid style trading.
· There are 3 baskets of trades – one for BUY, one for SELL and one for HEDGING.
· Always, both BUY and SELL trades will happen simultaneously as per the trade conditions.
· HEDGING trade, which is anti-martingale sale and in equal quantity, will happen only when one of the baskets trades in profit is closed (one of the baskets will always be in profit) either manually or by the system. It is to safeguard the other basket of trades in loss.
· No further trade will happen in the cycle by EA once a hedge trade has taken place.
· Basic idea is - close profit basket trades first, then wait for right time to close second basket (martingale) trades if price is reversing, either manually or by the system. If price is not reversing, then open a hedge trade in equal quantity; and thereafter it must be managed manually by the trader.
FEATURES
· Works with 4-5 digits Brokers
· Spread Filter
· Equity Stop
· Drawdown Protection
· Take Profit Basket Function
· Fast Buttons for Closing Open Orders (CloseAll, CloseProfit, CloseLoss, CloseBuys, CloseSells)
· Infopanel with EA informations
· Money Management (Fixed Lot, Percentage, Arithmetical)
· Adjustable trading times
· Possible to change any of the trade conditions (change of TP, max. no. of trades, etc.) any time during the functioning of EA.
· Possible to choose BUY or SELL or BUY and SELL.
TRADE CONDITIONS
· Always, there are two trades at a time; i.e. BUY and SELL trades same time, same lot size.
· BUY trades are named as A-basket-trades.
· SELL trades are named as B-basket-trades.
Trigger Initial Trades: There are two options to choose as described below.
Option 1: Open
BUY and SELL trades same time when a NEW CANDLESTICK OPENS.
OR
Option 2: Open
BUY and SELL trades same time when a NEW CANDLESTICK OPENS + IF THE PRICE IS
‘X’ PIPS ABOVE/BELOW MA (simple or exponential or smoothed or linear weighted).
(It should be possible to choose one of the above
options in the EA settings window).
Take profit: L-TP (Low Take Profit as defined in the EA settings window).
After the initial trades, if
these open positions, both buy and sell positions, are closed as per the set conditions,
then the trade cycle is over. IF one of the open positions is NOT closed before
the next candlestick opens &/or if the price has moved X pips from the
previous trade price, then it will move to ‘consecutive trades.’
Consecutive Trades: There are three options to choose as described below:
Option – 2: Trades will take place when there is a minimum price gap of
X pips.
Open BUY and SELL positions if the price move X
pips up or down from the previous trade price.
Option – 3: Trades will take place when a new candlestick opened + if
there is a minimum price
gap of X pips from the previous trade:
Here, the consecutive trades, BUY and SELL, will take
place when a new candlestick opened + if
there is a minimum price gap of X pips from the previous trade.
(It should be possible to choose one of the above options in the EA settings window).
Lot size: As specified in the EA settings window.
Take profit: H-TP (Hight Take Profit as defined in the EA settings window).
It is a common price for all
consecutive
trades. For details, see below para TAKE PROFIT (TP).
There should not be duplicate BUY or SELL trades at or around same price when the price is fluctuating up and down. Means, if the price is reversing, EA should not make trades at or around the previous trade prices.
See example below.
Let us assume, after 4 set of downward trades, price is reversing. While price is reversing, no trades should happen until the price move beyond the
initial trade price.
Price gap between trades = 10 pips.
(Exch. rate spread between buy and sell is not considered here).
Buy&Sell Buy&Sell Buy&Sell Buy&Sell Buy&Sell Buy&Sell
Set – 6 1.13750
Set – 5 1.13650
Initial Trade Set – 1 1.13550
Set – 2 1.13450
Set – 3 1.13350
Set – 4 1.13250
· Average cost of trades should be calculated for both baskets of trades from second set of trades onwards.
TAKE PROFIT (TP)
There are 3 different types of TPs.
Low Take Profit (L-TP): defined in pips in the EA settings window
(applicable for initial trades only)
High Take Profit (H-TP): “ “ “ (applicable
for consecutive trades)
TP in currency ($-TP): defined in
currency in the EA settings window (to be activated after one of the
basket
is closed).
L-TP is
applicable only for the initial buy and sell trades.
H-TP is applicable only for the consecutive trades (2nd trade
onwards).
H-TP price is derived by adding/deducting the pips to the price of 2nd trades and then it is fixed as common TP for all other consecutive trades.
For example:
H-TP: 100
pips
2nd trades: BUY at
1.12150, TP = 1.13150
SELL
at 1.12145 TP = 1.11145
3rd trades: BUY at 1.12350 TP = 1.13150 (it is same TP as 2nd trade)
SELL
at 1.12345 TP = 1.11145 ( “ “ )
……. Etc...
Once one of the baskets with profit trades is closed, then TP of the remaining basket should be changed to: average cost of all open trades in the basket + L-TP added. Further, ‘profit in currency $’ should also be activated at this stage for the second basket of trades.
That means, 2nd basket
will have two types of TPs – in pips as well as in currency $.
HEDGING
When one of the baskets with profit trades are closed manually or by the EA, anti-martingale hedge trade should be activated automatically (after X number of trades in the second basket). It should be possible to activate hedge trade manually or automatically. It should have features of TP, SL and TS.
Lot size of hedging trade is equal to the total of lot sizes of all anti-martingale-trades (remaining basket with loss trades).
It should have option to choose the hedging; be possible to turn-on and off the hedging button after the initial order or in between the operation. Also, it should be possible to close the hedge trade manually.
RISK MANAGEMENT
· It will have two separate set of lot multiplication factors, one for BUY and one for SELL trades. Each set should have options for Fixed Lot / Percentage / Arithmetical:
> Fixed Lot / Percentage / Arithmetical > Start Lot / Start Percentage.
> Lot Multiplication type > Martingale / Arithmetic > Lot value factor
·
Fast buttons on the MT4 screen
for closing open orders, applicable only to the concerned ccy pair:
(CloseAll,
CloseProfit, CloseLoss, CloseBuys, CloseSells)
· Equity stops.
· Drawdown protection.
CONDITIONS for CLOSING OF OPEN POSITIONS and TAKE PROFIT
As mentioned above, there are three baskets of trades. One for BUY trades (A-basket-trades) and other one for SELL trades (B-basket-trades) and third one is ‘anti-martingale-hedge-trade’. It is not necessary to close all baskets same time. However, whole cycle of trades is considered terminated only when all baskets of trades are closed. Only then the new cycle of trades will start again.
Basic strategy for closing of trades is, close manually or automatically the basket which is in profit and then leave the other baskets of trades until price is in our favour. If the price is not moving in our favour, then do a hedge trade to safeguard the exposure.
So, it should be possible to close any one of the baskets manually at any time after initial trade. Other basket will continue trading as per trade conditions. Once a basket is closed, there will not be any more trades in that basket until the cycle is closed.
TRADE COMMENTS
A-basket-trades should have
comments like: MKM_PoM_Buy_0, 1, 2,
etc.
(initial trade = 0, consecutive trade =
1, 2, 3, etc.)
B-basket-trades should have comments like: MKM_PoM_Sell_0, 1, 2, etc.
Hedge trade should have comments like: MKM_PoM_Hedge_Trade
TRADE DAYS & TIME
Monday: 00:01 to
23:59 (No trade in the day if all digits are ‘0’)
Tuesday: “ “
Wednesday: “ “
Thursday: “ “
Friday: “ “
