Originally Posted by sunwest

I have always known the term "martingale" for betting strategy referring to "doubling your bet after each loss until a win"

Here is the wikipedia version:
Martingale (betting system) - Wikipedia, the free encyclopedia

Keep the good work Wolfe,
Sunwest

Originally Posted by ElectricSavant

I like omy's suggestion"

"modified martingale"


what do you guys think?

ES

Originally Posted by wolfe

A few days ago I received a PM to code an EA with the following parameters:

-User decides initial trade direction (let's say long) and starting lot size (say .1 lot)
-New position would be added every time the market moves x pips (say 10 pips) up or down away from the most recent position taken. If market moves up from the original position 10 pips a new long is added. If the market moves down 10 pips from the last position a short is added (basically following the market looking to catch a trend in either direction).
-Each new position size increased by x (ex: .1 lot)
-Take profit based on account %
-Stop loss based on account %
-Max number of standard lots before EA can't taken any new positions (at this point the T/P or S/L will need to be hit when max is reached)
-Re-enter mode would start a new progression again once the prior progression has ended do to T/P or S/L being hit
-Magic number to run on multiple pairs

I did my best to code such an EA.

The expert I made uses a .mqh file that must be saved in your include folder.
The expert WILL NOT function without it.

All are welcome to critique or improve the code I wrote. PLEASE read ALL the comments in the code to understand the external variables. Default settings are just a guess, testing and optimization needs to be performed.

I'm not sure if this strategy is viable, these type of experts can get you into trouble quick! So use for testing only!

The EA starts by using a EMA for initial long or short starting direction. Just an idea. Maybe someone has a better idea?

Enjoy.

Originally Posted by ElectricSavant

Now that I am up to speed can the moderator just delete all these posts and give this poor thread author his thread back

ES

Originally Posted by ElectricSavant

I like omy's suggestion"

"modified martingale"


what do you guys think?

ES

Originally Posted by wolfe

Thank you to everyone for all your ideas and input to better the EA. You all have some great ideas.

When I get a chance I'll try to add all the great ideas to the EA. Anyone who feels they can better the EA is more than welcome.

Everyone has their own ideas as to what would make this a better EA. What I'm going to attempt to do is try to add all the ideas, and the user can decide how they want their "modified martingale" set up.

Should make for one long list of external variables.