This brand new feature uses high timeframes as an independent input in the Investment Castle Expert Advisor.
It is responsible for creating the support and resistance levels and uses the number of bars input to move the key levels as trading progresses.
To activate this option for the entry orders, choose “Based on Support and Resistance” or “Opposite to Support and Resistance” input from the menu. Make sure that you also choose an Option other than “Disabled” in the Support and Resistance Filter menu.
In this example, we used 4 hours chart as a reference for automating the support and resistance chart and 20 bars for moving the key levels.
We will see breakouts and how the trading robots is dealing with these breakouts to reduce the drawdown and close the open series in profit.
In this example, we have disabled the Hedge option and we used the volatility index built in indicator for automating the Distance between the martingale orders based on the trading volumes.
As you can see, in some cases, the trading robot opens positions at narrow distances and others at larger distances based on volumes.
You can use the fixed Distance input instead as I prefer with opposite order option as the distance between two opposite orders will be narrow and therefore will close the series faster.
Opposite martingale positions will be triggered by the robot only when the “Auto Direction Based on Indicator” input is set to “true” and the “Opposite Martingale Start” number shown on the top left corner of the chart is equal to 1.
Opposite Martingale Start number can be automated based on Volumes by setting the “Volatility Based Opposite Martingale Start” option to “true”. By doing that, during high volatility times, the robot will open the opposite position first assuming that the direction of the market is heading sharp on the opposite direction. If the market is slow, this number will be higher allowing the martingale orders to trigger in the same direction of the entry order assuming that the price will retrace.
Remember, by using any of the Investment Castle products means you have read, understood and agreed to the risk warning published on the website.