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I want someone to modify my EA:
1. My EA uses Bollinger Band of M5,M15 and M30 simultaneously.
1. My EA uses Bollinger Band of M5,M15 and M30 simultaneously.
2. I want to modify the EA to work with Martingale
3. My stop loss is usually set at 1000 pips and Martingale entry at 500 pips
4. If “a buy trade” opens and the price goes up to take profit martingale should not work.
5. If “a sell trade” opens and the price goes down to take profit martingale should not work.
6. If “a buy trade” opens and the price goes down instead of going up, but the price level < 500 pips from the open buy, to the extent that the price retraces back to take profit, martingale should not work.
7. If “a sell trade” opens and the price goes up instead of going down, but the price level < 500 pips from the origin, to the extent that the price retraces to back to take profit, martingale should not work.
8. If “a buy trade” opens and the price goes down instead of going up, but the price level = > 500 pips, the martingale should initiate logic, so that it helps to make profit or reduce the loss
9. If “a sell trade” opens and the price goes up instead of going down, but the price level = > 500 pips from the origin, the martingale should initiate logic, so that it helps to make profit or reduce the loss
1. Logic 1. If the Bollinger band opens Sell, but the price goes up or increased to a distance of 500 pips. The Martindale will open both Sell (S1) and Buy (B1) at the same time. Sell(S1) at Martindale = (1*Lot* Distance), and Buy (B1) at Martindale = (2*Lot*Distance).
- Logic 1.1. If after the Martindale in logic 1 i.e. (Sell (S1) at Martindale = 1*Lot* Distance) opens, and the price rises and keeps rising, then do nothing to B1 until the (Buy (B1) at Martindale = 2*Lot* Distance) takes profit.
- Logic 1.2. If after opening the Martindale in logic 1 i.e. (Buy (B1) at Martindale = 2*Lot* Distance), and the price falls, this will make the Buy (B1) becomes a loss. So if the price continues to fall and reaches 0.5*lot*distance i.e. 0.5 of S1, then open new Sell (S2) again from S1. The sell (S2) will now be (2*Lot*0.5*distance). I believe this well help to reduce the loss if it occurs. Note that when martigale opens S2, it does not close S1. The S1 and S2 will stop at the take profit, while B1 ends at stop loss
- Note that after all this, the lot size must return back to the original i.e. Lot = 1.0.
2. Logic 2. If the Bollinger band opens Buy, but the price goes down or decreased to a distance of 500 pips. The Martindale will open both Sell (Si) and Buy (Bi) at the same time. Sell(Si) at Martindale = (2*Lot* Distance), and Buy (Bi) at Martindale = (1*Lot*Distance).
- Logic 2.1. If after opening the Martindale in logic 2 i.e. (Buy (Bi) at Martindale = 1*Lot* Distance), and the price falls and keeps falling, then do nothing until the (Sell (Si) at Martindale = 2*Lot* Distance) takes profit.
- Logic 2.2. If after the Martindale in logic 2 i.e. (Sell (Si) at Martindale = 2*Lot* Distance), and the price rises, this will make the Sell (Si) becomes a loss. So if the price continues to rise and reaches 0.5*lot*distance, i.e. 0.5 of (Bi) then open new Buy (Bii) again. The Buy (Bii) will now be (2*Lot*0.5*distance). I believe this well help to reduce the loss if it occurs.
- Note that when martigale opens Bii, it does not close Bi. The Bi and Bii will stop at the take profit, while Si ends at stop loss
- Note after all this, the lot size must return back to the original i.e. Lot = 1.0