You can download the modified version here and enjoy! The Martingale EA Expert Advisor is a promising trading system that employs the envelope technical indicator that comes with the MetaTrader4 platform to generate trade signals. This expert advisor can trade any symbol of the foreign exchange market, but the 28 major symbols are preferred.
The martingale qualification might be a misnomer for this robot as it does not double the lot size on the next trade using the default settings. As depicted in the image above, the envelope indicator constrains the price action within its upper and lower boundaries. When price touches the upper boundary, the underlying market is said to be overbought, and when price comes into contact with the lower boundary, the market is considered oversold.
In any case, a trade signal to the opposite direction is generated. This robot shows promise as a potential profitable trading system. Running the expert advisor for five months of test data resulted in considerable profits, taking only a few trades throughout the test period.
While this result sounds good and can make anyone excited to jump into the bandwagon, it is important that the user performs more testing to confirm this initial investigation and have more confidence in implementing the program in live trading. However, if there is an existing order in the active symbol, the robot will check at each tick if it is time to close the trade.
Trade entry and trade closure are dictated by one and the same technical indicator, that is, envelope indicator. There are a few variables provided in Inputs that the user can tweak until he finds the best settings. If the user is familiar with the envelope indicator, the variables below are already self-explanatory. This expert advisor utilizes one technical indicator for trade entry.
This indicator and its settings are discussed below:. When there is no open order yet in the trading account for the active symbol and if the envelope indicator provides a buy or sell signal, a trade is immediately taken with a trade volume of 0.
If the user thinks this lot amount is too high, he can set another value. When the trade is executed, it does not come with a stop loss and take profit. The expert advisor also displays some information on the chart that the user can use to monitor the performance of the trading system. With this information, the user will know if there are orders on the current symbol and how many. He can determine the current account balance and, in doing so, find out if the robot makes or loses money.
He can see the equity and figure out if the current trade is winning or losing. He can also follow the current signal provided by the robot, be it sell, buy, exit or no signal. No signal is generated if price fluctuates in between the upper and lower envelope. As the Martingale EA Expert Advisor does not set a stop loss and take profit to a trade, the robot monitors the trade on every tick.
The trade can only be closed when the technical indicator provides a signal opposite to the direction of the current trade. This can be clearly explained by an example. For instance, if the current trade is a buy and the envelope indicator gives a sell signal, the trade is forcibly closed whether the order profit is negative or positive. This is noticeable in testing. The expert advisor accepts a loss to preserve the capital.
It relies on the accuracy of the trade signal and trade entry to make money for the trading account. The expert advisor takes only one trade at a time. If the previous trade closed in profit, another trade is immediately executed without any time delay.
However, if the previous trade was a loss, the next trade is entered after some delay. The time delay in the second case is not constant. The martingale strategy was most commonly practiced in the stock markets but now it became so popular in the currency market as these currencies, unlike stocks, rarely drop to zero. Stocks of companies can vanish as the company can close so easily for many reasons, while currencies of a whole country can't vanish, and if happened, it'd be a choice of the country itself.
A currency value just may fall, but rarely reaches zero even in periods of a sharp decline. The Forex market also has another advantage over stock markets, so that it attracts more traders with capital high enough to follow the martingale strategy.
The ability to trade in both directions allows traders to earn interest to offset a portion of their losses with that interest income. A clever martingale trader knows how to use the strategy on different currency pairs and directions to overcome losses till the big win reached. In other words, he would borrow from a low-interest rate currency and buy a higher interest rate one.
Many Forex system developers also converted this strategy to automated Forex robots so that it can do what the clever martingale trader does without his emotional stress affecting the trading decisions, below are reviews of some of them:. StrikeFX is a multicurrency martingale Expert Advisor of a new generation that doesn't settle for too long, gains stable earnings, cuts losses early before they grow, and absorbs the losses.
In other words, "Martingale without diapers" is the motto of this EA. The whole strategy is protected with a News filter. Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary. Forex accounts typically offer various degrees of leverage and their elevated profit potential is counterbalanced by an equally high level of risk. You should never risk more than you are prepared to lose and you should carefully take into consideration your trading experience.
Past performance and simulated results are not necessarily indicative of future performance. All the content on this site represents the sole opinion of the author and does not constitute an express recommendation to purchase any of the products described in its pages. WallStreet Forex Robot 3. Forex Signals. Blog Posts. What Spread Means in Forex Trading? How to buy Bitcoin BTC? Are you too late to invest in BTC? Featured EAs. Happy MartiGrid v1.
Currency Pairs: Multipair. TimeFrame: Any. Updated On: Fri May 13 th , StrikeFX v6.
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Download Free Forex Semi Martingale Robot. Robot will trade base on manual entry. It will do martingale if your position in losses. This expert advisor can trade any symbol of the foreign exchange market, but the 28 major symbols are preferred. The martingale qualification might be a. The EA builder is a free application for creating indicators. You can turn your manual trading into arrows and alerts and create indicators for MT4, Mt5, and.