Draw a Bow MT5

This code is a sample expert advisor for MetaTrader 5 (MT5) that implements a martingale strategy for executing trades in the forex market. The code is developed by Forex Robot Easy Team and can be found at forexroboteasy.com.

Strategy Overview

The expert advisor uses a martingale strategy, which involves progressively increasing the lot size of trades after a loss, in order to recover previous losses and generate profits. The main parameters of the strategy are:

• LotSize: Initial lot size for each trade.
• Multiplier: The factor by which the lot size is increased after each losing trade.
• MaxTrades: The maximum number of trades to execute.

How it Works

Initialization (OnInit)

In the initialization function, the necessary parameters and indicators are set up. This includes specifying the lot size, the multiplier, and the maximum number of trades.

Deinitialization (OnDeinit)

The deinitialization function is responsible for cleaning up and releasing any resources used by the expert advisor.

Tick Function (OnTick)

The tick function is called on each market tick and is where the main trading logic is implemented.

1. The code checks for trade opportunities based on specific conditions that are not specified in the provided code.
2. The code then executes trades based on the martingale strategy by iterating through a loop for a maximum of MaxTrades times.
3. Inside the loop, the trade size is calculated based on the current lot size and the martingale multiplier.
4. The ExecuteTrade function is called to place a trade with the calculated lot size.
5. If the trade is successful (tradeResult is true), the lot size is updated with the current trade size. Otherwise, the lot size is multiplied by the martingale multiplier.
6. This process continues for the specified number of trades or until a trade fails.

Execute Trade Function (ExecuteTrade)

The ExecuteTrade function is responsible for placing a trade with the specified lot size and checking the outcome of the trade.

1. The function places a trade with the specified lot size. The details of how the trade is placed are not specified in the provided code.
2. The function then checks the outcome of the trade by calling the CheckTradeOutcome function.
3. If the trade is successful (tradeSuccess is true), the lot size is updated with the current trade size. Otherwise, the lot size is multiplied by the martingale multiplier.
4. The function returns the outcome of the trade (tradeSuccess) to the calling function.

Check Trade Outcome Function (CheckTradeOutcome)

The CheckTradeOutcome function is responsible for checking the outcome of a trade. The details of how the trade outcome is checked are not specified in the provided code. The function returns true if the trade was successful and false otherwise.

Product Description

This code is a sample implementation of a martingale trading strategy for MetaTrader 5 (MT5). It is not the official product developed by Forex Robot Easy Team, but a demonstration of how the strategy can be implemented.

To use this code, you can modify the parameters such as the initial lot size, the martingale multiplier, and the maximum number of trades according to your trading preferences.

Please note that the code provided here is for educational purposes only and should not be used for real trading without proper testing and understanding of the risks associated with martingale strategies.

For detailed reviews and trading results of the official Draw a Bow MT5 product, please visit forexroboteasy.com.