SuperBot is an EA based on a self-adjusting and self-optimizing trend line.
The indicator incorporated in the code of this Expert Advisor, takes into consideration many aspects of the market to determine the direction of the market.
In addition also consider the lateral periods. That is, the periods in which the market goes aimlessly.
The recommended timing is M15. And it is recommended to use the preset set.
Trades open in favor of trend. And the Take Profit parameters can be set based on two criteria:
- Fixed TP, PIPS unit of measure.
- Variable TP according to the ATR indicator.
The Average True Range is a simple but very useful volatility indicator to know how much the market is moving.
If the price of the EURUSD is 1.21530, and it moves to 1.21700, the ATR of this bar will be 0.0017, that is, it will have moved 17 pips.
But the ATR calculates the average of the movements for a preset number of 14 periods, or what is the same, 14 bars.
That is, we obtain the average of the range of the last 14 bars.
This allows SuperBot to better adapt to a market, and to a very volatile or low volatile period of a currency at a particular time.
So, using the example above, if we set a TP based on the ATR y and set a factor of 1.2, then:
Take Profit Factor x ATR Value -> 1.2 x 17 = 20.4 pips.
This will be the Take Profit of the operation.
And what is all this for?
By better adapting to market movements, the SuperBot parameters are not fixed and are in line with the current market, so we do not have to worry about continuously optimizing the Expert Advisor
The Trailins Stop, Trailing Step, and Trailing Above parameters work in the same way. It can be adjusted automatically according to the ATR, or with a fixed value.
Well, what if the trend line fails?
Although the trend line has been shown to offer a success rate around 90%, it also fails, like all indicators.
When a trade is opened in one direction, and the market turns around in the opposite direction, a second part of the SuperBot operation comes into operation: Opens trades to offset the loss of the first trade, still open.
The distance at which the new operation opens is determined by the Step parameter, which can also be adjusted according to the ATR, or fixedly.
This is usually called a grid.
But this grid is smarter, it is not a conventional grid.
What is the difference?
Even if a distance (Step) is set, the EA will skip this rule if the trend to the contrary shows no signs of weakening.
How do you do this? SuperBot makes sure that the trend has lost strength, when the price stops at a Support or a Resistance.
With the Filter value, we select how many confirmation bars this EA will take into account to verify the end or correction of the trend against.
We will call the set of operations in the same direction cycles. Most of the time they will be closed on the first open, but other times more trades will be needed to make up for the loss. The closing of the cycle is done when all the operations have a positive value.
Does this EA use martingale?
Yes, it does. But it is preset at a value of 1.2.
This means that if the initial lot is 0.01, the SuperBot opening sequence will be as follows (in case of losses)
Sequence -> 0.01, 0.01, 0.01, 0.02, 0.02, 0.02, 0.03, 0.04, 0.04, 0.05, 0.06, 0.07, 0.09.
This very low coefficient is made to speed up the process of closing trades, and not to delay for a long time with an open cycle, but at the same time, to minimize the risk of losses in the account.
Credit: MQL5: Traders’ Blogs RSS Feed