A Martingale Madness EA
Logic:
- Order Management:
- Order Counting: Counts the number of open orders that match the current symbol and MagicNumber.
- Check for Losses: Checks the history of orders to identify if the last order was closed in loss.
- Last Lot Size: Retrieves the lot size of the last closed order.
- Next Lot Size Calculation: Determines the lot size for the next order based on Martingale strategy if enabled. If the previous order was a loss, the lot size is multiplied by a predefined multiplier. Ensures the lot size adheres to broker constraints.
- Signal Generation: Uses RSI to generate buy/sell signals based on overbought/oversold conditions.
- Order Sending: Places buy/sell orders based on the generated signals and calculates the appropriate lot size, stop loss, and take profit.
- Trailing Stop and Break-Even:
- Trailing Stop: Adjusts the stop loss to trail the price if the trade moves in favor.
- Break-Even: Moves the stop loss to break even after a certain profit is achieved to secure a no-loss position.
- Time-based Trading:
- Trades are only initiated during specified trading hours.
- Initialization and Start:
- Initialization: Sets up the point values and validates the stop loss and take profit levels against the broker’s minimum stop level.
- Start: Manages the trading logic and ensures trading happens only during the specified hours.
Description:
This EA is a Martingale scalping system that employs the Martingale strategy to recover losses by increasing the lot size after a losing trade. It uses RSI to determine buy/sell signals and employs trailing stops and break-even adjustments to manage trades dynamically. The EA trades only during specified hours to avoid unfavorable trading conditions.
