Ilan is probably the best martingale grid trading program publically available for MT4.
However, if left alone, it will almost always crash accounts (or at least send them into deep drawdowns).
I had an idea I was hoping you could aid me with Funyoo.
That is -- combining Ilan (attached) with the Sniper Commercial Indicator (here: Forex Trading System, Forex Trend Trading System, forex Online Trading System MT4 - Sniper Forex)
My idea was to take the Ilan version attached and add the Sniper Trend indicator as a trade limiter.
I have put the my Sniper indicator on a chart to illustrate.
Ignoring the Sniper Stop (the dotted line) my idea was to have Ilan begin to trade in the direction of the Sniper trend when ALL indicators match up.
As soon as all the indicators DO NOT match up, then Ilan will continue opening up its current set of positions, but will not start another set of positions once that set is finished.
If all the Sniper indicators do not match up then no new set of positions is started. If all the Sniper indicators match up then another set of positions can be opened after the current set is shut.
In the above picture, the Ilan would continue to start new sets of positions going long inside the blue boxes and short in the red boxes.
Out side those boxes, Ilan would look to keep taking positions based on its grid martingale logic -- but not open a new first position unless all the indicators match up in a direction.
The idea is to only have Ilan operate in the direction of a strong trend and to not open new sets of trades once the current number of positions are closed out during non-strong trends.
I would be most appreciative if you could program this up for us Funyoo, as I think it may be a good way to tame Ilan and have it work safer.
It is how I operate Ilan manually, but it would be great to see if it can be automated.
I have changed the Ilan version attached. The one I have attached has 3 variables which might be of use.
Disable if TP is reached (set as true when not all indicators agree)
Disable Buy (when all indicators say sell)
Disable Short (when all indicators say buy)
It might be worthwhile to keep the RSI limitator in there too. It may stop the Ilan taking a position on extreme RSI's during a trend and waiting till they have pulled back slightly.
Ilan places trades on a new bar open. I think this might need to be investigated, because if Sniper is being used on a 1 hour chart, then this could cause a problem. Two solutions are to investigate if a new trade is needed (ie the price movement is more then the pip step variable) every a) x minutes or b) grid it absolutely, where if the pip step is 30, then every 30 pips a position is taken.
Unless of course the Sniper Variables can be modified to calculate as if they are on a 1 hour chart, but are really attached to a 1 (or 5) minute chart.