With this functionality, you can add to the current position based on a DCA (Dollar Cost Averaging) method along with optional martingale and other features. The additional entries will be based on either signals from the indicator/s or stop loss level.
Please note only one of the two averaging methods should be enabled. If you want to disable averaging module all together both SL based and indicator based price optimizations. Further, the price optimization does not work with the pending orders and other features such as auto close on opposite signal, opening more than one concurrent trades & simultaneous buy & sell (hedging).
Trades are not closed at stop loss level when averaging methods are used (SL is virtual in any case). When a trade does not reach the TP target and price turns the other way, the EA will keep adding more positions on the same direction every time a new signal is given by the indicator or the price reaches the stop loss level, depending on the type of the averaging method selected. When there are more than one trade, the take profit will consider profit of the all existing trades so that the take profit would be closer than the original take profit.
Setting 87: Enable Entry Price Optimization by SL: Here you can enable or disable the averaging system based on stop loss level set in previous settings. The stop loss level can be fixed pips (Setting 23) or based on ATR (Setting 26). When a trade does not reach the TP target and then price turns the other way, the EA will keep adding more positions in the same direction every time the price reaches the set SL distance (based on fixed pips or ATR based). For instance (if you use ATR based SL) if the stop loss was 2x ATR, new trades on the same type will be opened at each 2xATR distance on the opposite direction (subject to filters given later).
Setting 88: Enable Entry Price Optimization by Indicator Signals: Here you can enable or disable the averaging system based on new signals is given by the indicator/s. When a trade does not reach the TP target and then price turns the other way, the EA will keep adding more positions in the same direction every time a new signal on the is given by the indicator/s on the same direction (subject to filters given later). However, the additional positions will be subject to the stop level (i.e. even if a new signal is generated Automater will not open a add position unless price is beyond the stop loss level).
NB: You can only use one averaging method. Do not have both enabled. If you want to disable averaging module, you need to disable both indicator based & SL based optimization.
Setting 89: Max No of Trades on Entry Price Optimization: You may set a max no. of concurrent trades if necessary to reduce the risk of the averaging module. The Automater will not make new trades/orders after this trade limit.
Setting 90: Martingale Multiplier for Entry Price Optimizing: You can optionally add martingale for additional trades opened under the entry price optimization. For instance if you use 2 here, lot size would be doubled every time when a new trade is added under the averaging module. If you do not want to use any martingale simply keep this number as 1.
NB: Martingale can be risky and it can blow your account quickly if the price continues to the other way. Therefore, you need to be cautious when using martingale. Only a very mild martingale level is added by default which does not significantly increase the risk.
Setting 91: Filter Additional Trades by MA Line: When the price is sharply going against us, it may not be a good idea to keep opening new trades as it may cause margin calls by the broker. With this setting, we can filter the opening of additional positions with a SMA line. For instance let’s say we have both TP & SL as 10 pips for a particular buy trade (NB: TP/SL are virtual under the averaging modes). But just after the entry, the price breaks out on the opposite site and a large 50 pips bear candle is formed. Under the normal averaging module, we would have added new 05 buy positions at each 10 pip gap. This can cause margin issues and not the optimal way of averaging. So before adding an additional position, the Automater will check if the price is above a particular SMA line (and for sell trades, on the other way). In that case, we will not be adding new positions every time price goes to our SL distance thereby reducing the no of concurrent trades.
NB: If you don’t want to use SMA filter, then use “1” here.
Setting 92: Close Trades with Breakeven if More than This No of Trades: In an averaging module, getting out of a trade as soon as possible is important because you never know how far the price will go against you and there is a risk of getting margin calls. Therefore, it is safer to get out of a series of positions without the original take profit but without a loss (i.e. at a breakeven) on overall terms. Here you can set that trade number. For instance, if you have 5 here, the Automater will close the trades if the price reaches breakeven level without waiting till price goes to the intended profit level.
Setting 93: Enable Equity based Stop Loss: You can enable a stop loss level based on a lowest equity level to further reduce the risk of the averaging module if necessary.
Setting 94: Maximum Equity Amount Allowed: This is the lowest equity level allowed in monetary terms if you have enabled the same in the previous setting.