ZS1 Forex Instrument Expert Advisor

ZS1 Forex Instrument Expert Advisor is a mechanical  script that employs Martingale mechanism within a zone to open and manage trades. Both BUY and SELL positions are opened by this Expert Advisor in a hedging mechanism to minimize risk and enhance profitability.

When the Expert Advisor starts, and there are no open positions, it immediately opens a BUY and a SELL order at market. The Expert Advisor divides the price into five market zones as follows:

  1. Zone 0 – The initial zone when there are no open positions.
  2. Zone 1 – This zone lies between the entry price of the initial open positions and a band of ORDER_SPACE
  3. Zone 2 – This zone lies above Zone 1.
  4. Zone 3 – This zone lies below Zone 1.

After the initial trades (both BUY and SELL) are placed, the Expert Advisor checks for conditions to add a Martingale position, and similarly for exit conditions.

When the price falls into Zone2 or Zone 3, the Expert Advisor opens a SELL trade, or a BUY trade respectively. Each trade is opened at a distance of ORDER_SPACE from its previous order.

It opens up to 12 orders in each direction in a Martingale series and the lot-sizes are increased proportionately in the following sequence of 3, 6, 12, 24, 48, 96, 192, 384, 768, 1536 and 3072. So, if the first lot-size is 0.1 lots, then the final (12th) lot-size will be 307.2 lots.

When the total profit of all the positions combined is greater than zero, then all the positions are closed.

Configurable Inputs

  1. LOTS – The lot-size of each trade opened by this Expert Advisor.
  2. ORDERS_SPACE– The distance between two orders in points.
  3. PK– The multiplier that specifies the number of points per pip. For example for EUR/USD on a 5-digit broker, 1 pips is 10 points, hence this value will be set to 10.