Expert trading EA

Expert Advisor Settings:

1. Lot multiplier: Defines the multiplier used to increase the lot size for each successive trade in the Martingale strategy, helping to recover previous losses.
2. LotConst: A boolean value that determines whether the lot size remains constant or is calculated based on account balance and risk percentage.
3. Lot Size: Specifies the fixed lot size for trades when LotConst is set to TRUE.
4. Risk Percent: Determines the percentage of the account balance to be risked per trade when LotConst is FALSE, allowing dynamic lot sizing based on available equity.
5. Take Profit: Sets the take profit level in points, which defines the distance at which the trade will close in profit.
6. Step: Defines the step distance in points for Martingale progression, controlling the spacing between successive trades.
7. Max Trades: Limits the maximum number of trades that the Expert Advisor can open simultaneously, aiding in risk management.
8. Use Equity Stop: A boolean setting that enables or disables the use of an equity stop, which closes all trades if a certain equity loss threshold is reached.
9. Total Equity Risk: Specifies the total equity loss percentage at which all trades will be closed if UseEquityStop is enabled.
10. Magic Number: A unique identifier for trades placed by this Expert Advisor, making it easier to manage and track trades in a multi-EA environment.
11. Show Table On Testing: A boolean setting that determines whether to display a summary table of trades during backtesting, providing a visual representation of performance.

The Expert Trading Martingale EA by KOKOSHELL is designed to offer a comprehensive and customizable approach to automated trading using the Martingale strategy. By incorporating a wide range of input parameters, it allows traders to tailor the Expert Advisor to their specific trading style and risk tolerance. Key settings such as lot multipliers, risk percentages, and step distances ensure that the EA can adapt to varying market conditions and account sizes. Additionally, the inclusion of equity stop features and detailed trade management options provide robust risk management capabilities. The indicator settings offer further customization, enabling users to fine-tune the EA's behavior and visual output on the chart. Overall, this Expert Advisor combines flexibility with powerful trading logic, making it a valuable tool for traders looking to implement a Martingale strategy in their trading activities.

KOKOSHELL Expert trading v.1

Intrument: XAUUSD
Timeframe: H1

Install the Expert Advisor

1. Download and Run MetaTrader 4 App
   • Visit the MetaTrader 4 official website and download the application.
   • Follow the installation instructions to set up MetaTrader 4 on your computer.
2. Select ‘File’ from the Main Menu
   • Open MetaTrader 4 and look at the top menu bar.
   • Click on ‘File’ to open a dropdown menu.
3. Open Data Folder
   • From the dropdown menu, click on ‘Open Data Folder.’ This action will open a new folder panel.
4. Navigate to the ‘MQL4’ Folder
   • Inside the new folder panel, find and open the ‘MQL4’ folder.
   • Within ‘MQL4,’ locate the ‘Experts’ folder.
5. Drag and Drop Your EA File
   • Drag and drop your Expert Advisor (EA) file into the ‘Experts’ folder.
6. Add Required Indicators
   • If your EA requires specific indicators, navigate to the ‘Indicators’ folder within the ‘MQL4’ folder.
   • Drag and drop the necessary indicator files into the ‘Indicators’ folder.
7. Restart MetaTrader 4
   • Close and reopen MetaTrader 4 to apply the changes and load your EA.

Verify Broker Compatibility

• Ensure your broker supports EAs and has no restrictions on automated trading.

Backtest the EA's Strategy

1. Open Strategy Tester Terminal
   • In MetaTrader 4, press Ctrl + R or go to ‘View’ and select ‘Strategy Tester.’
2. Select the EA from the Dropdown
   • In the Strategy Tester panel, choose your EA from the dropdown menu.
3. Configure the Backtest Settings
   • Select the symbol (currency pair) you want to test.
   • Choose the model (e.g., every tick) and set the date range for your test.
4. Adjust Expert Properties
   • Click on ‘Expert Properties’ to adjust the input parameters of your EA, such as LotSize, TakeProfitPoints, and StopLossPoints.
   • For each parameter, define a Start value (initial value), a Step value (increment value), and an End value (maximum value). This allows the Strategy Tester to run multiple iterations with different parameter settings to find the optimal configuration.
5. Run the Backtest
   • Click ‘Start’ to run the backtest. MetaTrader 4 will simulate trades based on historical data.
6. Analyze Optimization Results
   • After the backtest completes, go to the ‘Optimization Results’ tab to review the performance metrics and results.

Set Up a Demo Account

• Create a demo account in MetaTrader 4 to test your EA in real market conditions without risking real money.

Run the Expert Advisor

1. Ensure AutoTrading is On
   • In MetaTrader 4, make sure the ‘AutoTrading’ button on the toolbar is activated (green).
2. Enable Automated Trading
   • From the menu, navigate to ‘Tools’ > ‘Options’ > ‘Expert Advisors.’
   • Ensure ‘Allow automated trading’ is checked.
3. Load the EA onto a Chart
   • Open a chart for the desired symbol and timeframe.
   • Drag and drop your EA from the Navigator panel onto the chart.
4. Adjust Settings Based on Backtest Results
   • Open the EA settings and adjust parameters to match the optimal settings found during backtesting.
   • Set the risk parameters to align with your trading strategy and risk tolerance.

Monitor and Adjust the EA

• Continuously monitor the EA's performance, especially in the initial phase.
• Make adjustments as needed based on performance and changing market conditions.

Learning and Support Resources

• Utilize forums, tutorials, and support communities to learn more about using EAs and troubleshooting issues.

Getting started with your Expert Advisor involves a systematic process of installation, backtesting, and execution. Installing the EA on MetaTrader 4 is straightforward but crucial, ensuring that the platform recognizes and can run your EA. Backtesting is an essential step that allows you to evaluate the performance of your EA against historical data, providing insights into its potential profitability and risk management. By analyzing optimization results, you can fine-tune your EA’s parameters for optimal performance. Finally, running the EA on a live chart requires enabling auto-trading and carefully adjusting settings to reflect the findings from your backtesting phase. This meticulous approach not only helps in understanding how the EA operates but also in achieving consistent and successful automated trading results. Backtesting, in particular, is vital as it helps in identifying strengths and weaknesses in your strategy, allowing for informed adjustments before risking real capital. With careful setup and continuous monitoring, your journey into automated trading can be both rewarding and educational.

What is the recommended initial lot size for Expert Trading Martingale EA?

The recommended initial lot size for Expert Trading Martingale EA is set via the "Lot" parameter, which defaults to 0.01. Adjusting this based on your account balance and risk tolerance is crucial for optimal performance.

How does the EA handle stop loss and take profit levels?

The EA uses a configurable stop loss and multiple take profit levels. You can set these values in points, and the EA will automatically apply them to trades. The parameters "TakeProfit" and "Step" control these settings.

Can I disable the Martingale strategy in this EA?

Yes, you can disable the Martingale strategy by setting the "Lot_multiplier" to 1 or adjusting the "MaxTrades" parameter to 0. This will prevent the EA from increasing lot sizes after losses.

What type of backtesting should I perform with this EA?

For accurate backtesting, use a high-quality historical data set and conduct the tests in MetaTrader 4’s strategy tester. Test different market conditions and timeframes to evaluate the EA’s performance and stability.

How does the EA determine when to open a trade?

The EA opens trades based on predefined conditions and signals from custom indicators. It considers the current market price, spread, and other factors like the high-low filter and trend analysis.

How does the Magic Number work in this EA?

The Magic Number, set with the "Magic" parameter, uniquely identifies the EA's trades. This helps in managing and tracking trades opened by the EA, preventing conflicts with other EAs or manual trades.

What is the role of the "Lot_multiplier" parameter?

The "Lot_multiplier" parameter determines the lot size increase after a losing trade in the Martingale strategy. Adjusting this value can help manage risk and potential recovery after losses.

Can I limit the number of trades opened by the EA?

Yes, you can limit the number of trades by setting the "MaxTrades" parameter. This controls the maximum number of simultaneous trades, helping to manage risk and exposure.

What indicators does the EA use for its strategy?

The EA uses custom indicators to analyze market conditions, including price action, trend filters, and high-low analysis. These indicators generate signals for trade entries and exits based on the configured settings.

How does the EA handle account equity stop?

If enabled, the EA uses the "UseEquityStop" and "TotalEquityRisk" parameters to close all trades if the account equity drops below a certain threshold. This feature helps protect the account from significant losses.