If you're diving into the Forex market, you might want to check out the Martin Gale Breakout system. This trading system is tailored for use with MetaTrader 5 (MT5) and cleverly combines breakout strategies with the Martin Gale money management approach to enhance your trading performance.
Key Input Parameters:
TakeProfPoints: Set your Take Profit level in points for each trade to lock in those gains.
BalancePercentageAvailable: Decide what percentage of your account balance you want to commit to trading.
TP_Percentage_of_Balance: This determines the portion of your balance that goes toward your Take Profit on each trade.
SL_Percentage_of_Balance: Here, you can set how much of your balance will be used for your Stop Loss.
Start_The_Recovery: This parameter is crucial for initiating recovery measures, dictating when and how they kick in.
TP_Points_Multiplier: Adjust your Take Profit points with this multiplier for more flexible profit strategies.
MagicNumber: A unique identifier for this system, ensuring it handles its trades independently.
Why Choose This Strategy?
Breakout Trading: This system excels at spotting breakout opportunities where price moves beyond critical levels.
Dynamic Lot Sizing: Lot sizes automatically adjust based on your account balance and risk tolerance, in line with Martin Gale principles.
Loss Recovery: Equipped with a robust recovery mechanism, this system adapts trade parameters to help recover losses when needed.
The heart of this EA lies in the CalcLotWithTP() function, which takes three parameters: Takeprofit, Startprice, and Endprice. This function calculates the necessary volume for a trade to meet your profit target when entering at Startprice and exiting at Endprice.
Don’t worry if you’re new to coding; everything in the code is well-commented, making it easy to understand and tweak.
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