Elite Efibo EA v2
Type of EA: Grid and Martingale EA
Logic:
- Grid Trading:
- The EA uses a grid strategy, opening a series of orders at predefined price intervals (levels) both above and below the initial entry price.
- It allows for multiple levels of pending orders, with each level increasing in lot size based on a predefined Fibonacci sequence.
- Both buy and sell grids are possible, with the choice of direction depending on user settings.
- Martingale:
- The lot size increases according to a Fibonacci sequence as the price moves against the initial trade direction, thereby potentially recovering losses if the market reverses.
- This strategy can be risky as it requires substantial margin and can lead to significant drawdowns.
- Order Management:
- The EA includes functionality to reopen trades after profit-taking if the TradeAgainAfterProfit option is enabled.
- It also monitors and modifies stop-loss levels dynamically to protect profits as the price moves favorably.
- The EA is capable of closing all trades and pending orders once a certain profit threshold (MoneyTakeProfit) is reached.
- Risk Management:
- The stop-loss for each order is set at a predefined distance from the entry price, and the take profit can be managed according to the user’s risk tolerance.
- The EA will close all positions and pending orders if the total profit exceeds a predefined amount.
