This Expert Advisor is based on the “Ilan 1.6 Dynamic” Expert Advisor with complete preservation of the idea and all input parameters. The Ilan 1.6 Dynamic Expert Advisor is the progenitor of all Ilans and the most recognizable Forex Expert Advisor using the Martingale method. The number of titles assigned to this development is incalculable. In fact, the Expert 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 positions, the second one is used for the loss limitation function. The special feature of this Expert Advisor is the use of a dynamically changing range, depending on the market volatility.
The basic algorithm is completely redesigned, the virtualization function is added – the series begins with the opening of virtual positions and after reaching the specified step, real trading begins.
This Expert Advisor is based on the “Ilan 1.6 Dynamic” Expert Advisor with complete preservation of the idea and all input parameters. The Ilan 1.6 Dynamic Expert Advisor is the progenitor of all Ilans and the most recognizable Forex Expert Advisor using the Martingale method. The number of titles assigned to this development is incalculable. In fact, the Expert 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 positions, the second one is used for the loss limitation function. The special feature of this Expert Advisor is the use of a dynamically changing range, depending on the market volatility.
The basic algorithm is completely redesigned, the virtualization function is added – the series begins with the opening of virtual positions and after reaching the specified step, real trading begins.
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This Expert Advisor is based on the “Ilan 1.6 Dynamic” Expert Advisor with complete preservation of the idea and all input parameters. The Ilan 1.6 Dynamic Expert Advisor is the progenitor of all Ilans and the most recognizable Forex Expert Advisor using the Martingale method. The number of titles assigned to this development is incalculable. In fact, the Expert 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 positions, the second one is used for the loss limitation function. The special feature of this Expert Advisor is the use of a dynamically changing range, depending on the market volatility.
The basic algorithm is completely redesigned, the virtualization function is added – the series begins with the opening of virtual positions and after reaching the specified step, real trading begins.
The basic algorithm is completely redesigned, the virtualization function is added – the series begins with the opening of virtual positions and after reaching the specified step, real trading begins.
- Sell if the closing price two bars ago was higher than the closing price on the previous bar and the RSI is higher than the value of the “RsiMinimum” parameter (oversold zone).
- We buy if the closing price two bars ago was lower than the closing price on the previous bar and the RSI is lower than the value of the “RsiMaximum” parameter (overbought zone).
In the event that the price does not go in our direction, the Expert Advisor opens additional positions (topping up) and waits for the correction to occur. Increasing the volume of subsequent positions allows you to bring the breakeven level (the average price of all positions) as close as possible to the current price, so that even a small correction can close the entire unprofitable series of positions in profit. This scheme, with the correct optimization of the input parameters, has practically no flaws.
Input parameters
- Sell if the closing price two bars ago was higher than the closing price on the previous bar and the RSI is higher than the value of the “RsiMinimum” parameter (oversold zone).
- We buy if the closing price two bars ago was lower than the closing price on the previous bar and the RSI is lower than the value of the “RsiMaximum” parameter (overbought zone).
In the event that the price does not go in our direction, the Expert Advisor opens additional positions (topping up) and waits for the correction to occur. Increasing the volume of subsequent positions allows you to bring the breakeven level (the average price of all positions) as close as possible to the current price, so that even a small correction can close the entire unprofitable series of positions in profit. This scheme, with the correct optimization of the input parameters, has practically no flaws.
- Virtualization-the series begins with the opening of virtual positions and after reaching the specified step (the serial number of the position in the series), real trading begins.
- LotExponent – the coefficient of increasing the lot in the series. The lot is calculated based on the size of the starting 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 0.1: 0.1, 0.15, 0.23, 0.34, 0.51 etc..
- DynamicPips-this parameter enables dynamic changes in the distance between the averaging positions. That is, if the value is true, the Expert Advisor decides when to open the next position (relying on the “DEL”parameter). If set to false, the size of this distance will always be “DefaultPips”.
- DefaultPips – the distance in points between the averaging positions.
- Range – the number of bars to analyze the volatility.
- DEL-works only when the “DynamicPips” parameter is enabled. Responsible for changing the originally set step in “DefaultPips”.
- Slippage – the maximum amount of slippage when opening positions (in points).
- Lots – the lot size of the starting order in the series. This is the main trading lot, and the EA returns to it every time a 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 jumps in quotes.
- RsiMinimum – the value of the lower limit of the RSI indicator. This parameter is used to determine the oversold zone when opening a sell position.
- RsiMaximum – 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 – the identification (“magic”) number for each order.
- MaxTrades – the maximum number of simultaneously opened positions.
- UseEquityStop-enables the function of limiting the loss on equity.
- TotalEquityRisk – when the specified percentage of equity drawdown is reached, all positions will be automatically closed.
- UseTrailingStop-enables the Trailing Stop function for all positions.
- Level – the level in points.
- Step – step in points.
- UseTimeOut-enables the closing of positions by time.
- MaxTradeOpenHours – the time in hours after which all positions are closed.
- Virtualization-the series begins with the opening of virtual positions and after reaching the specified step (the serial number of the position in the series), real trading begins.
- LotExponent – the coefficient of increasing the lot in the series. The lot is calculated based on the size of the starting 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 0.1: 0.1, 0.15, 0.23, 0.34, 0.51 etc..
- DynamicPips-this parameter enables dynamic changes in the distance between the averaging positions. That is, if the value is true, the Expert Advisor decides when to open the next position (relying on the “DEL”parameter). If set to false, the size of this distance will always be “DefaultPips”.
- DefaultPips – the distance in points between the averaging positions.
- Range – the number of bars to analyze the volatility.
- DEL-works only when the “DynamicPips” parameter is enabled. Responsible for changing the originally set step in “DefaultPips”.
- Slippage – the maximum amount of slippage when opening positions (in points).
- Lots – the lot size of the starting order in the series. This is the main trading lot, and the EA returns to it every time a 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 jumps in quotes.
- RsiMinimum – the value of the lower limit of the RSI indicator. This parameter is used to determine the oversold zone when opening a sell position.
- RsiMaximum – 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 – the identification (“magic”) number for each order.
- MaxTrades – the maximum number of simultaneously opened positions.
- UseEquityStop-enables the function of limiting the loss on equity.
- TotalEquityRisk – when the specified percentage of equity drawdown is reached, all positions will be automatically closed.
- UseTrailingStop-enables the Trailing Stop function for all positions.
- Level – the level in points.
- Step – step in points.
- UseTimeOut-enables the closing of positions by time.
- MaxTradeOpenHours – the time in hours after which all positions are closed.
Additional information
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