Here is a little EA i wrote that will assist in pyramiding profits.
http://sites.google.com/site/prof7bit/snowball
It is not a fully automated system, so so don't even try to make an automated backtest, instead it is meant as a tool for short-term starting, building and closing a pyramid, a trade-management EA so to speak. Please carefully read and try to understand the article and all instructions and trade it on demo only until you are sure you know what you are doing.
The EA is provided as an .ex4 file which can be put into the experts folder, no additional files are needed in this case. Only if you decide to compile it yourself from source (which is also provided) you will need to download and install some additionally needed include files which can also be found on this website.
The EA is quite new and might still contain some minor bugs. Although it already seems to be relatively stable and I started trading it live already, minor updates and fixes in the near future are still likely, so check the site for updates from time to time.
The above linked article also contains my thoughts about some general properties of grids and anti-grids, an a possible explanation for the existence parabolic shaped S+R levels.
[Important: This EA is not FIFO conforming. Some brokers (Alpari) will not throw an error as they should if they think it is wrong but instead accept the orders and then at a later time while you are asleep silently start *trailing* the stops around on your chart until they fit their rules. Trailing all stops will of course cause the pyramid to apruptly end instead of slowly scaling out. This is not designed for trailing stops! The very core of this whole strategy will break!
I will make a FIFO conforming version once MT5 is widely used, in MT5 i can simply do opposing buystop orders as a replacement for stoploss orders, in the crippled NFA-FIFO-MT4 they implemented all the restrictions but forgot to implement the benefits of the flat position model. Some strategies are extremely hard to implement in MT4, some are nearly impossible. This one is not impossible, only hard, it would be possible but I don't have unlimited time to support every bucket-shop broker who choses to mess around with the trader's orders instead of implementing his backend and his accounting properly]
http://sites.google.com/site/prof7bit/snowball
It is not a fully automated system, so so don't even try to make an automated backtest, instead it is meant as a tool for short-term starting, building and closing a pyramid, a trade-management EA so to speak. Please carefully read and try to understand the article and all instructions and trade it on demo only until you are sure you know what you are doing.
The EA is provided as an .ex4 file which can be put into the experts folder, no additional files are needed in this case. Only if you decide to compile it yourself from source (which is also provided) you will need to download and install some additionally needed include files which can also be found on this website.
The EA is quite new and might still contain some minor bugs. Although it already seems to be relatively stable and I started trading it live already, minor updates and fixes in the near future are still likely, so check the site for updates from time to time.
The above linked article also contains my thoughts about some general properties of grids and anti-grids, an a possible explanation for the existence parabolic shaped S+R levels.
[Important: This EA is not FIFO conforming. Some brokers (Alpari) will not throw an error as they should if they think it is wrong but instead accept the orders and then at a later time while you are asleep silently start *trailing* the stops around on your chart until they fit their rules. Trailing all stops will of course cause the pyramid to apruptly end instead of slowly scaling out. This is not designed for trailing stops! The very core of this whole strategy will break!
I will make a FIFO conforming version once MT5 is widely used, in MT5 i can simply do opposing buystop orders as a replacement for stoploss orders, in the crippled NFA-FIFO-MT4 they implemented all the restrictions but forgot to implement the benefits of the flat position model. Some strategies are extremely hard to implement in MT4, some are nearly impossible. This one is not impossible, only hard, it would be possible but I don't have unlimited time to support every bucket-shop broker who choses to mess around with the trader's orders instead of implementing his backend and his accounting properly]