[bnma]

Hi guys,

I am looking for help to make this ea (I wrote) better.

Basically, I have looked at the FX Pro maker code and saw what it does. I created a very simple version of this ea that uses hedge, trades martingale in a grid fashion but has a disaster stoploss. So the Martingale does not get out of hand.

Here's the concept:

Right at the initial launch, the EA will create buy/sell order with minimal lots (0.01 or 0.05 depending on broker. But this doesn't matter cause people can do initial 10 lots if they want to). Immediately after placing these orders, it will place pending orders every 5 (or so) pips and doubling up. Each level is the take profit for the order in the same direction but double size. All orders have disster stop loss (User's choice).

Here's the grid:

........... ------------------------- Disaster SLs (All Sell orders)
Level ... ------------------------- Pending Sell ...
Level 4 ------------------------- Pending Sell (0.16 / TP Level 3 / Disaster SLs)
Level 3 ------------------------- Pending Sell (0.08 / TP Level 2 / Disaster SLs)
Level 2 ------------------------- Pending Sell (0.04 / TP Level 1 / Disaster SLs)
Level 1 ------------------------- Pending Sell (0.02 / TP Level 0 / Disaster SLs)
Level 0 ------------------------- Buy (0.01 / TP Level 1 / SL Level -1) & Sell (0.01 / TP Level -1 / SL Level 1)
Level -1 ------------------------- Pending Buy (0.02 / TP Level 0 / Disaster SLb)
Level -2 ------------------------- Pending Buy (0.04 / TP Level-1 / Disaster SLb)
Level -3 ------------------------- Pending Buy (0.08 / TP Level-2 / Disaster SLb)
Level -4 ------------------------- Pending Buy (0.16 / TP Level-3 / Disaster SLb)
Level ... ------------------------- Pending Buy ...
........... ------------------------- Disaster SLb (All Buy orders)

If any take profit is hit, all positions are closed (Live and pending). It's up to the user to set this to auto to start again. However, I don't recommend this. It should bet of the user to see how the market is and then let the EA trade when all conditions are good.

The thing I am counting on is a slow market (No news, not London or US sessions). This ea will might get killed if there is a big sudden move. In quiet time (I think), there is a very high chance that the price will retrace to the lower level which is 5 pips away to take profit.

Please help me make this code better and also find the best time and best currency pair to put it on.

I think we will do something really good for all of us.

Link to EA: http://www.4shared.com/file/u-5yAB2Y/Matrix_v1.html

Thanks a lot!

[randy1953]

I have my own private martingale EA. the first thing you should do is bring down the multiplier to 1.5 it's too high at 2.
You also want to code in a option for one direction only this way when you know the market is trending strong you set your EA to only open up trades going with the trend. there are other things you can do but these2 are very important
randy




QUOTE=bnma;94535]Hi guys,

I am looking for help to make this ea (I wrote) better.

Basically, I have looked at the FX Pro maker code and saw what it does. I created a very simple version of this ea that uses hedge, trades martingale in a grid fashion but has a disaster stoploss. So the Martingale does not get out of hand.

Here's the concept:

Right at the initial launch, the EA will create buy/sell order with minimal lots (0.01 or 0.05 depending on broker. But this doesn't matter cause people can do initial 10 lots if they want to). Immediately after placing these orders, it will place pending orders every 5 (or so) pips and doubling up. Each level is the take profit for the order in the same direction but double size. All orders have disster stop loss (User's choice).

Here's the grid:

........... ------------------------- Disaster SLs (All Sell orders)
Level ... ------------------------- Pending Sell ...
Level 4 ------------------------- Pending Sell (0.16 / TP Level 3 / Disaster SLs)
Level 3 ------------------------- Pending Sell (0.08 / TP Level 2 / Disaster SLs)
Level 2 ------------------------- Pending Sell (0.04 / TP Level 1 / Disaster SLs)
Level 1 ------------------------- Pending Sell (0.02 / TP Level 0 / Disaster SLs)
Level 0 ------------------------- Buy (0.01 / TP Level 1 / SL Level -1) & Sell (0.01 / TP Level -1 / SL Level 1)
Level -1 ------------------------- Pending Buy (0.02 / TP Level 0 / Disaster SLb)
Level -2 ------------------------- Pending Buy (0.04 / TP Level-1 / Disaster SLb)
Level -3 ------------------------- Pending Buy (0.08 / TP Level-2 / Disaster SLb)
Level -4 ------------------------- Pending Buy (0.16 / TP Level-3 / Disaster SLb)
Level ... ------------------------- Pending Buy ...
........... ------------------------- Disaster SLb (All Buy orders)

If any take profit is hit, all positions are closed (Live and pending). It's up to the user to set this to auto to start again. However, I don't recommend this. It should bet of the user to see how the market is and then let the EA trade when all conditions are good.

The thing I am counting on is a slow market (No news, not London or US sessions). This ea will might get killed if there is a big sudden move. In quiet time (I think), there is a very high chance that the price will retrace to the lower level which is 5 pips away to take profit.

Please help me make this code better and also find the best time and best currency pair to put it on.

I think we will do something really good for all of us.

Link to EA: 4shared.com - online file sharing and storage - download Matrix_v1.mq4

Thanks a lot![/QUOTE]

[bnma]

[QUOTE=randy1953;94749]I have my own private martingale EA. the first thing you should do is bring down the multiplier to 1.5 it's too high at 2.
You also want to code in a option for one direction only this way when you know the market is trending strong you set your EA to only open up trades going with the trend. there are other things you can do but these2 are very important
randy

Hi randy1953, I'm thinking this EA should absolutely stay out of the trending times in the market. That's why I think the quiet times are the best. For the multiplier being 1.5,
I am not sure it will work with this method cause each level takes profit in the lower level on a sell and upper level on buy. Look at this sequence:

-1, -2, -4 In order to make profit, you'd have to have something > -7 (total). This would be 8

Now with a 1.5 multiplier:
-1, -1.5, -2.25, in order to make profit, you'd have to have something > -4.75. But in this case, the next sequence is 3.375 which can't beat the -4.75

Unless this system is changed to take profit further than the previous level, multillier 2 is better than 1.5.

Thanks.