Candle Martingale + EA

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.

i think this idea have a good point

Nice bro!

Could you check this topic : http://www.forexfactory.com/showthre...37112&page=143 ? Its similar but little different entry rules. Could you make martingale this topic turn EA? I think its would be very accurate

Thanks for sharing this EA. I have some questions:
1. What does it mean by grid size?
2. as default, TP is set 1. Does it mean 1% target or else?
3. what is the multiply of martiangle if the price goes against the direction? And what is the pip step (N pips) for the next open position in marti?

1. What does it mean by grid size? How many pips price must move for next order to open.

2. as default, TP is set 1. Does it mean 1% target or else? When all open trades reach a equity profit of 1.00 all trades close.

3. what is the multiply of martiangle if the price goes against the direction? Doubles lot size per each new order.

And what is the pip step (N pips) for the next open position in marti? Pip step (N pip) is the grid size, is set at 10 pips in the EA.

I did not write the EA but from the tests I ran, those are your answers.

In 6 month back test I did on this EA it will blow a few accounts depending on the pair. Others do fairly well with minimal DD. So its hit or miss. Not something you would even consider throwing live. At least not the way its currently configured.

good job

Looking forward to try it, thanks.

@Math why will this happen at the end ? is it due to orders still being open while my end date of my backtest as already ended ?

Regards
Morne

Version 1.02 of the EA released. In this version first-trade time filter added. I updated Post 1.

@morne72: the Grid distance between the orders is very little, with EU must make 40 Pips or greater
and the TP by 40 Pips distance 20 Pips

Lowest DD backtest (v1.02)

- test with M15 or H1 and TP 20 more profit and go higher with the distance to 50 (TP 27) H1 and 60 M15 (TP 32)

5 years (2010 ~ 2015) backtest,

From the tests I have run on this (about 50 on daily TF over 1.5 years) you need large grid size on daily TF to keep many pairs from blowing up. Some do well like this E/U one. Others blow up or the percent profit on the safer settings is not worth the risk involved. I did notice many of the longer running baskets were opening sell trades on strong up trends and vice versa. Maybe adding a MA filter will help make it a litter safer. Would not know for sure unless tested.

Math.I would like to plaay with The EA as it seems to me that The idea is similat to a cbot i am used in live and double my account. One day though I have lost all for to much greed. Would you like to share the code or fxdreema blocks if using fxdreema?

Version 1.04 of the EA released. In this version an input is added in order to limit the number of Martingale positions. I updated Post 1.

This my test
profit factor 1.9 goood

the other on is with every tick not good

my be this is one strategy that only use open price of every candle

I like where you are going with this...

H1+D1

A little more dynamic...ya know, for shitz n gigglez.



(Do not use the attached EA on a live account)
Default H1 timeframe

I'll change the code such that it will open a new Martingale position only if the next hourly candle opens X pips in opposite direction of the first-trade's favor. This way, the first-trade decision would be based on the patterns of D1 candles, but the entry points are dynamic and based on H1 candles. Let's see how it would perform at the end of the day.

Best,
Math