Ilan Dynamic Premium – Unlimited MT4 System Metatrader 4 Expert Advisor Robot EA Forex Trading
This Expert Advisor is based on the “Ilan 1.6 Dynamic” Advisor with full preservation of the idea and input parameters. The “Ilan 1.6 Dynamic” advisor is the predecessor of all Ilans and the most recognizable Martingale method Forex advisor. The number of titles given to this development can hardly be counted. In fact, the Advisor uses a simple trading strategy based on two standard technical indicators – RSI (Relative Strength Index) and CCI (Commodity Channel Index). The first one is used to select the direction when opening the positions, the second is used to limit losses. The peculiarity of this Expert Advisor is the usage of dynamically variable range, depending on the market volatility.
The basic algorithm is completely redesigned, the virtualization function is added – the series begins with opening virtual positions while the real trading starts after the specified step is reached.
- We sell if the closing price two bars ago was higher than the closing price of the previous bar and the RSI is higher than the value of the “RsiMinimum” parameter (the oversold zone).
- We buy if the closing price two bars ago was lower than the closing price of the previous bar and the RSI is lower than the value of the “RsiMaximum” parameter (the overbought zone).
In case the price does not go in our direction, the advisor opens additional (averaging) positions and waits for the price correction to come. The increase in the volume of subsequent positions allows you to move the level of break-even (the average price of all positions) closer to the current price, so that even a small correction can close all unprofitable series of positions with profit. This scheme has practically no flaws in case of correct optimization of the input parameters.
- Virtualization – the series begins with the opening of virtual positions and the real trading starts after the specified number of position in the series to start real trading from is reached.
- LotExponent – the rate of lot increase in the series. Lot is calculated based on the size of the initial order – the “Lots” parameter. Each subsequent order in the series is calculated based on the size of the previous order multiplied by the “LotExponent” coefficient. Example of a series with a coefficient of 1.5 and an initial lot of 0.1: 0.1, 0.15, 0.23, 0.34, 0.51, etc.
- DynamicPips – the parameter enables the dynamic change of the distance between the averaged positions. That is, with the parameter value set to true, the advisor decides when to open the next position. If the parameter value is set to false, then the distance will always be equal to “DefaultPips”.
- DefaultPips – the distance in points between the averaged positions.
- Range – the number of candles used for the volatility analysis.
- DEL – works only when the “DynamicPips” parameter is enabled. It is responsible for changing the initial step in “DefaultPips”.
- Slippage – the maximum size of slippage when opening positions (in points).
- Lots – the lot size of the initial order in the series. This is the main trading lot, the advisor returns to it each time when the profitable series is closed.
- Lotdecimal – the number of decimal places in the lot value.
- TakeProfit – the number of points to close a profitable series.
- Drop – automatic closing of positions on sharp moves of quotations.
- RsiMinimum is the value of the lower limit of the RSI indicator. The parameter is used to determine the oversold zone when you open a sell position.
- RsiMaximum is the value of the upper limit of the RSI indicator. This value determines the overbought level and is used when opening a buy position.
- MagicNumber – identification (magic) number for each order.
- MaxTrades – the maximum number of simultaneous open positions.
- UseEquityStop – enable stop loss by equity.
- TotalEquityRisk – when the pre-set equity drawdown percentage is reached, all positions will be automatically closed.
- UseTrailingStop – enables the trailing stop for all positions.
- TrailingStop level – level size (in points).
- TrailingStop step – step size (in points).
- UseTimeOut – enables closing the positions on specified time.
- MaxTradeOpenHours – the time in hours, after which all positions are closed.