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.
Conditions for opening positions are as follows
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.