The present Expert Advisor is predicated on the “Ilan Dynamic Pro EA” which is widely employed by the massive number of traders and thus deserves increased attention from professional developers producing lots of advisor’s modifications. There are many variations of this advisor, each having its own pros and cons, but all these modifications are united by a common position averaging algorithm that is used to close a series of unidirectional orders at the entire Take Profit level. I have created a modification of the EA with the entire code written from scratch and therefore the analytical unit completely redesigned. Now Expert Advisor stands 100% up to its name because it has most parameters dynamically variable counting on things on the active chart. Dynamically adjustable parameters allow obtaining sufficiently stable operation with different instruments even with the default settings with no initial optimization. At an equivalent time, all important parameters are available for optimization and fine-tuning for a selected instrument and trading conditions. In this “Ilan Dynamic Pro EA” modification I even have tried to bring my very own vision of an effective averaging algorithm, implementing the thought led by a few years of professional MT4 development experience and my own vision of the Forex market.
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Depending on the signal, the EA can open positions in two directions – buy and sell. If necessary, the Expert Advisor are often customized to figure in just one direction.
The volume of the initial order is automatically calculated when the proportional calculation function is enabled. If the price moves against the position, and averaging order is automatically placed. The averaging algorithm is often flexibly adjusted by special input parameters. If necessary, the algorithm of proportional volume calculation is often disabled within the EA’s input parameters. In this case, the Advisor will always start a series with the quantity laid out in the input parameters.
- Positions – select the direction of a position opening.
- Time Frame – the period of the chart at which all the calculations are made.
- Magic Number – identification (“magic”) number for each order.
- Start Time – trading start time.
- Stop Time – trading stop time.
- Balance – the reference balance for proportional calculation of the initial position volume. If 0, the function is disabled, and the initial position volume is equal to Lots_.
- Lots – the reference volume for proportional calculation of the initial position volume.
- Max Lots – the maximum volume of orders in lots. The parameter is also used in a proportional calculation, the value of the maximum volume will change as the account balance grows. If set to 0, the function is disabled.
- Stop Loss K – the coefficient for Stop Loss level calculation.
- Take Profit K1 – the coefficient for Take Profit level calculation.
- Take Profit K2 – the coefficient for calculation of the total Take Profit level in series.
- Shift K – the coefficient for calculating the offset level from the last order in order to place a new order in the series.
- Market Execution – set the Stop Loss and Take Profit levels for market orders after the orders are opened. This parameter should be used when working on an ECN account.
- Slippage – maximum deviation from the requested price in points when opening and closing market positions.
- Maximal drawdown – the maximum allowable drawdown as a percentage of the active account balance.
- Use Trailing Stop – enabling the Trailing Stop function. If set to false, the Trailing Stop function does not work.
- Trailing Stop level – as soon as profit in points becomes equal or greater than the specified level, the command for placing a Stop Loss order is issued automatically. The order level is set at the specified distance from the current price. If the price moves in favorable direction, the trailing stop automatically moves stop loss following the price. Otherwise, the order is not modified.
- Trailing Stop step – step size in points.
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