Business & Investment

Market Reversal Alert EA Version 4.1: Logic Update-Other-October 7, 2021

There are logical changes to the EA released today. This makes manual closing and drawdown control / partial closing of positions much more efficient for those who use EA to position trades semi-automatically.

Below are the complete release notes and a video demonstrating the difference between lot size and level logic for basket trading.

Note: This is an optional update, but due to the much better logic of the position trading strategy, all future development will be done in this version.

Update note:

Logic changes to enable better manual interaction and process basket transactions more efficiently:

The EA now uses global variables to calculate and store lot sizes and position entries. This allows you to manually close a transaction or use TP in a basket transaction.

Version 4.0 Logic: If you have multiple positions open and you have the TP or DD control option to manually close one or close the last position, the last traded entry level and lot size will remain the same.

For basket / position trades, this means that the EA will have to wait for the price to exceed its old level before making a new trade.

Version 4.1 Logic: The new logic saves the last open live position, so you can just press up / down before making a trade and the old level from the last closed position will not be saved.

This allows position traders to make a profit and, if prices are imposed on you, they can return those orders to profit again.

The last open trade and the last open lot size are now used. This also means that the lot size multiplier will use the last position placed by the EA instead of the last closed position.

Note: This is a major logical change and will affect older set files that used position trading in any of the following:

Fixed TP for each trade

DD control (part of full)

Trailing stop

Lot size multiplier

If you were using only TP for your basket, or if you were using only a single transaction with stops, it would have no effect.

Market Reversal Alert EA Version 4.1: Logic Update-Other-October 7, 2021

https://www.mql5.com/en/blogs/post/746172 Market Reversal Alert EA Version 4.1: Logic Update-Other-October 7, 2021

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