A martingale Expert Adviser for MetaTrader 4
What is Plorks_MMM?
Its a martingale based EA that allows you to use dynamic stop loss and take profit levels as well as lot size. Being able to choose your lot size and risk reward level means that you do not have to keep doubling up on each win or loss.
The EA pretty much allows you to have a dynamic risk:reward ratio. Instead of using a fixed TPSL or lot size multiplier you manually input the desired lot size and TPSL for each step that the EA uses.
How does it work?
You can set the EA to work in one of three modes; mode1, mode2 and dualmode. All three modes use a simple moving average cross to place trades. Each mode has 3 strings; lot size and TP/SL, the EA always uses the lot size string but
dynamic TPSL is optional. When a mode steps up/progresses it goes to the next step in its 3 strings.
Each mode behaves a little differently.
Mode 1 is the martingale/semi-mamrtingale mode. It progresses down the string everytime it hits its stop loss. If it takes profit or gets to the end of its lot size string it loops back to the first step in its progression.
Mode 2 is the reverse-martingale/anti-martingale mode. It progresses down the string everything it takes profit. If its stop loss is hit or it reaches the end of its lots size string it loops back to the first step in its progression.
DualMode is a combination of mode1 and mode2. It runs each mode it starts with one mode and passes it over to the second mode when certain conditions are met. If mode1 take profit or reaches the end of its progression it will switch
over to mode2. If mode2 hits a stop loss or reaches the end of its progression it will switch over to mode1.
If you have the lotsize string set to 0.1;0.2;0.3 and the tp/sl strings set to 40;60;80/30;25;20 so...
trade1= 0.1 lots and 40/30 tpsl.
trade2= 0.2 lots and 60/25 tpsl.
trade3= 0.3 lots and 80/20 tpsl.
How can I use this EA?
You can run it on any pair or timeframe that you choose.
Calculate martingale progressions for other systems.
Run several instances of the EA at one time.
