Hey traders! If you’re diving into the world of MetaTrader 5, you’ll want to know about the New Martin EA. Just a heads-up – this Expert Advisor works best on hedging accounts! If you’re curious about hedging, check out this link: MetaTrader 5 now features hedging option.
Inspired by the concept of "Martin damped", the New Martin EA opens two opposing positions right from the get-go. It utilizes OnTradeTransaction handling to manage trades effectively. Once a Take Profit is hit, it opens another position in the same direction. Plus, when two moving averages cross over, that’s your signal to open a larger lot position.
Here’s how it works:
- Open two opposite positions at the start.
- Wait for the Take Profit to activate (handled through OnTradeTransaction):
- If a BUY position is closed, open another BUY position.
- If a SELL position is closed, open another SELL position.
But what if you end up with a losing position?
No worries! Just wait for those two moving averages to cross. Then, you’ll want to open a position with a larger lot size in the direction of the losing trade.
Quick Tip: Your balance may rise while your equity doesn’t budge much. This method tracks the "Loss percent" (the difference between equity and balance), which you can adjust in the EA’s settings. Here’s how it’s calculated:
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