Break Price Channel Martingale
Expert Break Price Channel Martingale. Here is a brief description. A more detailed description can be found on my blog TRADING WAY.
Signals used for forming a modified Price Channel Indicator (MultiRange_PCH). All operations are carried out on formed bars current timeframe. Link to download the indicator at the end of the description.
In this version, the expert added to the possibility of the protective level Stop Loss in bezubytka zone. It is also possible to include a function of controlling the volume of positions such as the Martingale, where in the case of a losing trade should be opened with the volume of unprofitable transactions multiplied by the specified parameters in the external factor.
The expert can be used in semi-automatic trading. The position can be opened manually, and to provide expert support positions. Since trade Martingale method can be dangerous, the position can be closed manually when the current income over past losses.
List of expert settings:
- Indicator Period - indicator period MultiRange_PCH.
- Mode Break - breakdown mode. It is possible to install the sample into the channel (BREAK IN) and out channel (BREAK OUT).
- Take Profit - distance in points from the entry point to the level of profit-taking. If you set a value of zero, the level of profit will not be installed.
- Stop Loss - distance in points from the entry point for the protective layer. If you set a value of zero, then the security level will be established.
- Trailing Stop - a step in the points for the modification of the protective layer toward profit. The level is calculated from the highs (High) for Sell positions and lows from (Low) for Buy positions. If you set a value of zero, then modification of the protective layer will not be made.
- Reverse - in this parameter, you can specify whether to use the position reverse, if there is a signal in the opposite direction.
- Break Even Stop Loss - distance, in points, which must pass the price to install Stop Loss to breakeven. A value of zero disables this feature.
- Break Even Offset - distance, in points, on which will be installed Stop Loss bezubytka in the region with respect to the current price position.
- Lot - volume of position.
- Martingale Coefficient - with a losing position will be opened next multiplying by this factor. If the value is less than or equal to 1, the volume equal to the specified positions in the parameter Lot.
- Initial Deposit - This parameter is used to define which
the value of the deposit size to include dynamic analysis of the lot to open
position. Thus, the volume of open positions will be proportional
The deposit amount, which allows the expert to increase faster
profit. A zero value in this parameter disables the dynamic calculation
- Maximum Lot Size - here you need to specify
the maximum amount for the open positions. Perhaps, after reaching
it is advisable to deposit a certain quantity proportional to stop
calculation of the lot. Some traders use such tactics to
aggressive acceleration of the deposit, starting with a small amount, then to
move into a more conservative mode, not increasing risks for the growth of
to the opening position signal is considered true if the following conditions are fulfilled (an example of a breakdown of the channel):
For positions BUY:
- The intersection of the upper boundary of the channel upward.
For the position SELL:
- Crossing the bottom of the channel down.
In this mode (BREAK OUT) output from SELL position is performed, if the price crosses the middle channel up or Stop Loss/Take Profit.
In this mode (BREAK OUT) output from BUY position is performed, if the price crosses the channel down the middle or Stop Loss/Take Profit.
Additional parameters and features:
In the expert, there are two additional options:
- On / Off Info Panel - turns on / off information and trading on the chart panel.
- Setting "On The Fly" - setting ( "on the fly") enables / disables control parameters online trading panel.
On the different symbols (graphics) can be placed various experts in this series, and they will not interfere with each other.
- Modified Indicator Price Channel - MultiRange_PCH (should be placed in a directory \ MQL5 \ Indicators and compile).
Here's one expert testing results Break Bollinger Bands Martingale. It is possible to use custom criteria to optimize the parameters (Custom Max). The formula I'm not going to disclose.
The same result can be a 6-hour (H6) timeframe, the symbol EURUSD, the default settings.
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