Description
This is a semi-automatic bot that helps you manage your capital.
When you a position and do not want to have a fixed SL and TP, this bot will help you do this automatically.
When your position has a profit exceeding the Take Profit Pip, the bot will move the stoploss according to the ratio you choose and gradually move it until it hits the stoploss
When your order has a loss exceeding the Stop Loss Pip, the bot will automatically place a martingale order to cover for the loss according to 1 of the 3 martingale methods you choose, and at the same time calculate the new profit point based on the Take Profit Pip you have chosen, when the profit point is exceeded, the all positions will automatically close.
When there are no open orders, the bot will not work, each time the bot only supports 1 open order in 1 direction.
In case you place 2 orders in 2 directions, buy and sell, the bot will still work.
You should choose m1 time frame for the bot to work fastest because the bot will work after the bar closes.
For example:
If you place a buy order of 0.01 lot XAUUSD, SL = 400, TP = 200, SL move rate = 0.5, Martingale Style = PlusOne.
Case 1: if your order has a profit of 200 pips, a new SL will be created with a profit of 100 pips, if the price continues to increase, the new SL will continue to increase until the price reverses and touches the SL
Case 2: if your order loses 400 pips, the bot will automatically place a Martingale order with a new lot equal to the current lot plus one unit of lot = 0.01 * 2 = 0.02, and at the same time draw a new Take Profit line to ensure that this new Take Profit is the same as the Take Profit you intend to have.
Case 3: if your order loses 800 pips, the bot will automatically place an order similar to case 2 with a new lot of 0.01 * 3 = 0.03 and move the new Take Profit line.
If you choose Double, your order will have a gradually doubled lot, then it requires a large capital to cover but in return, the order will be closed quickly
If you choose Fibonacci, your order will increase the lot according to the Fibonacci series, the advantage is that the initial lot is small, the later the lot is large, helping to quickly recover the capital, requiring less capital than the double type
If you choose PlusOne, your order will increase the lot according to the plus one type, requiring less capital to cover but also taking more time to recover the capital.
If the capital is 1000$, you should use the starting lot of 0.01 for XAUUSD, and the Martingale type: PlusOne
If the capital is 2000$, you should use the starting lot of 0.01 for XAUUSD, and the Martingale type: Fibonacci
If the capital is 5000$, you should use the starting lot of 0.01 for XAUUSD, and the Martingale type: Double
Summary
Key functionalities include:
- Automatic trailing stop loss: When a positionās profit exceeds the defined Take Profit Pip, the bot moves the stop loss according to a user-selected ratio, gradually locking in profits until the stop loss is triggered.
- Martingale loss recovery: If a positionās loss surpasses the Stop Loss Pip, the bot places an additional martingale order using one of three selectable methodsāDouble (doubling lot size), Fibonacci (increasing lot size following the Fibonacci sequence), or PlusOne (incrementing lot size by one unit). It recalculates the take profit level to close all positions once the profit target is reached.
- Recommended to run on the M1 timeframe for faster response, as the bot operates after each bar closes.
Example use cases and capital recommendations are provided for trading XAUUSD with varying starting lot sizes and martingale styles based on account size. The bot supports multiple markets and symbols including Forex, commodities, cryptocurrencies, and indices.
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