Warning (2016-10-12): There seems to be a bug in the EA that may stop it from working properly. It is strongly recommended not to use this EA on live accounts until further notice.This trading system is based on a set of different trade logic for the first trade. If the market goes against our favorite direction, every N pips we open another position according to Martingale strategy. If the net profit reaches to what we set in the input settings of the EA, all the open positions will be closed.
The entry logic is Trade Bollinger Bands, where A position will be opened when the candle is closed above/below BB bands.
Exponential Basket Close:
If the user set the input parameter "Exponential Basket Close?" to "Yes", then the EA closes all the open position at a lower target profit as an exponential function of the number of open positions. For example, if there are 7 open positions, and the take profit is set to 20.0 USD, then the EA will close all the seven positions if their net profit reach at a lower profit than 20.0 (let's say 3.0 USD). This option is there to test the idea of getting out of a sequence of losers with some smaller profit as soon as possible (that is, before blowing up the account).
NOTE 1: Martingale based EAs are very risky! Use this EA at your own risk. There is no guarantee that the EA will be profitable or bug-free.
NOTE 2: This EA works on any time frame.
--- Update 2016-09-29---
Version 2.00 of the EA released.
Trading is the hardest way to make easy money...