Ron Thompson
This EA is designed for EURUSD M15 it was developed by Ron Thompson on
Yahoo MetaTrader_Experts_and_Indicators Group
This EA places BUY and SELL MARKET ORDERS depending on how far outside the Bollinger Bands the current price falls. This is a counter-trade system, that is, it SELLS when the UPPER bands are exceeded by BDistance pips and BUYS when the LOWER Band is exceeded. BDistance, BPerion and Deviation control the Bollinger Bands
It depends on retracement and exhaustion to make profit.
It only places one trade per bar.
If enabled (IStep greater than 0) the system will double lot sizes when there is a loss. This is an attempt to recover the previous loss, and make money on the current trade. And there are styles (IStyle) of lot growth for loss recovery
The greatest failure of this EA will come when you don't have enough money to support the Martingles steps anymore, so start your lot sizes small.
LotIncreasement grows the lot size based on your starting balance, risking more money when you have more money. It is built in, based on Starting Balance and LotResolution, and is independent of IStep and the Martingale process.
---Starting Balance---
The formula for Lots is AccountBalance() / StartingBalance
Lets say your AccountBalance() is currently 550$
if you want to trade 10.0 lots, put 55 into StartingBalance 550 / 55 = 10
if you want to trade 1.0 lots, put 550 into StartingBalance 550 / 550 = 1
if you want to trade 0.5 lots, put 1100 into StartingBalance 550 / 1100 = 0.5
if you want to trade 0.1 lots, put 5500 into StartingBalance 550 / 5500 = 0.1
if you want to trade 0.01 lots, put 55000 into StartingBalance 550 / 55000 = 0.01
---LotResolution---
This controls the Lot size of step your broker/account can support
If set to 1, then your lot size is increased in 0.1 steps as your account grows
If set to 2, then your lot size is increased in 0.01 steps as your account grows
IBFX supports LotResolution of 2
---IStep---
IStep is ONLY USED WHEN IStyle==1
IStep is the USER control for progression of lot growth to recover loss
Lots are multiplied by this number for each losing trade
---IStyle---
Allows you to pick the type of loss recovery you're most comfortible with.
0 == NO LOSS RECOVERY
1 == lot growth based on IStep
2 == Modified Martingale - growth by 2.0000 with 1st step being 1
3 == Fibonacci - growth by Fibo numbers, requires 2 wins to recover the total loss
4 == future implementation
---SameBarRecovery---
Usually there is only 1 trade allowed per bar. If this option is set to true, then
another trade will be allowed on the same bar, but only if the last trade was a loss.
NOTE! - This does NOT work well with Darma's ATR option
---MinFreeMarginPct---
This percent of your account must be free for margin before an order will be placed
---ProfitMade---
The amount of pips you expect to make on EACH TRADE
---LossLimit---
The amount of pips you can afford to lose on EACH TRADE
---Other elements---
Trades are constrained to one-per-bar. This is controlled in the bar counting section of the code. Trade is only enabled if there are no orders open at the new bar.
Search for uncomment for multiple trades per bar
There is also an override for this using SameBarRecovery but only for losing trades
Linear Mode
