ArgoAverager v3.0 MT4

Currency Pairs: Any

Timeframes:  Any

Minimum Deposit: Any

Recommended Account Type: ECN and Cents

Leverage: From 1:100-1:500

Recommend broker: Roboforex
Recommend Vps: GoVPSFX

ArgoAverager v3.0 MT4 can be used for averaging out an open position (consisting of one or several trading orders), by opening new order(s) in the same direction at a better price(s), typically with a larger volume. If price continues moving against the position, EA will open a grid of additional orders with specified parameters (grid step distance, lot multiplication factor, etc). EA assigns a common take-profit level to all trading orders, which is adjusted automatically when new trading orders are opened.

When the price pulls back, ArgoAverager closes the basket of trading orders by the common take-profit. If the price continues moving against the basket and the maximal number of grid levels are opened, EA “locks” the position, by opening a hedging order of such volume that the total position becomes neutral, thus preventing escalation of drawdown further.

ArgoAverager has an option of closing all trading orders at a prescribed drawdown.

ArgoAverager can be used for averaging only some of the orders on the given currency pair. For example, it can average only Buy or only Sell orders. It can average only one trading order (with the specified ticket number). It can average a group of orders with a specified magic number (e.g., orders opened by another EA).

ArgoAverager assigns the take-profit level to all orders and modifies it accordingly to the number of market trading orders. There are two different logics for calculating the take-profit: (i) take-profit (in pips) is calculated from the price of the last order in the basket and (ii) take-profit (in pips) is calculated from the break-even level of the basket.

 Possible variants of use:

You are opening a trading order. Instead of setting a stop-loss, you let ArgoAverager to average your order if the price moves against it.
Your EA has opened several trading orders that are in drawdown now. You can remove this EA from the chart and let ArgoAverager to average out the leftover trading orders.
You need to leave your terminal and cannot supervise your trade for a while. You may let ArgoAverager to take care of your position while you are away.