Diamond MT5 ReadMe File

This ReadMe file provides information about the Diamond MT5 code. Please note that ForexRobotEasy is not the official developer of this product. We only provide a sample code that can work as described in this product. To find the official developer of this product, please use MQL5.

Product Description

Diamond MT5 is a Martingale Expert Advisor (EA) forex software developed by the Forex Robot Easy Team. It utilizes a Martingale strategy to open trades and aims to generate profits in the forex market. The EA is designed to be affordable and is suitable for traders looking to implement a Martingale trading system.

For detailed reviews and trading results of this product, please visit this link.

Code Details

The provided code is an example of the Diamond MT5 EA. It includes global variables, custom initialization, deinitialization, and start functions.

Global Variables

• LotSize: Initial lot size for trading.
• TakeProfit: Take profit in pips.
• StopLoss: Stop loss in pips.
• MaxLotSize: Maximum lot size for trading.
• MinLotSize: Minimum lot size for trading.
• MagicNumber: Unique identifier for trades.
• TrailingStop: Trailing stop value in pips.
• MaxAttempts: Maximum number of attempts for the Martingale strategy.
• MartingaleFactor: Martingale factor for lot size increase.

Custom Initialization Function

The OnInit() function is a custom initialization function. It sets the recommended lot size and displays a message if the lot size exceeds 0.1 lot.

Custom Deinitialization Function

The OnDeinit() function is a custom deinitialization function. It performs necessary cleanup tasks when the EA is being deinitialized.

Custom Start Function

The OnTick() function is a custom start function. It checks for open trades and performs the Martingale strategy. Here's how it works:

1. Check if there are any open trades. If there are, exit the function.
2. Initialize variables for lot size, profit, and attempts.
3. Execute the Martingale strategy within a loop with a maximum number of attempts.
4. Calculate the stop loss based on the take profit and open a trade using the calculated lot size, take profit, and stop loss.
5. Check if the trade was opened successfully. If yes, reset the attempts counter, profit, and increase the lot size for the next trade.
6. If the trade was not opened successfully, increment the attempts counter, calculate the loss, and check if the maximum attempts have been reached. If yes, stop trading.
7. Set the initial stop loss for the first trade and check if it was set successfully. If not, close the trade.
8. Set the trailing stop and check if it was set successfully. If not, close the trade.

Please note that this is a simplified explanation of the code. For a comprehensive understanding, refer to the actual code.

For more information on the Diamond MT5 EA, please visit the official developer's site at forexroboteasy.com.

Disclaimer

Please note that ForexRobotEasy is not the official developer of the Diamond MT5 EA. We only provide a sample code that can work as described in this product. To find the official developer of this product, please use MQL5.