This is a M1/M5/M30 Timeframe Martingale Scalper that selects intelligently when to enter the market and when to exit if things go wrong. Works well with most symbols with low spread, although spread is not important.
It creates an initial order when MA and Pattern conditions appear and creates extra Martingales order with a lot factor of your choice to exit when a certain averaged Take Profit is reached.
It works best on M5 and M1 EURUSD chart. Minimum deposit is $100-$300 (depending on the settings) for micro account and cent accounts and around $1000 to $10000 for standard account. I personally recommend the use of cent account to have more control over lot sizes and multipliers.
It works fine with any kind of spread and commissions, best on STP Broker.
Works best on VPS for faster execution of trades. A bit of slippage is OK.
Other symbols and standard accounts are accepted. Specially recommended low spread currencies. Best currencies so far have been the ones includingEUR, AUD and USD.
Please feel free to contact me if you have any doubts. Sets are provided in the comments section. Also have a look at the comments section to see a lot of info.
- Fixed Lots: Use starting fixed lot of X.
- Turn MM on: Use risk for calculating orders.
- Risk: 0.01 to 1 (depending of Settings). 1.0 risk starts with 0.01 lots per $15. Adjust according to that.
- Martingale Factor: The multiply factor for the Martingale succession of orders.
- Min Space Between Trades: Minimal distance in pips between Martingale trades.
- Take Profit: Minimal value in pips for taking averaged profit (70 = 7.0 Pips).
- Bias: Is a value that works as a threshold for trades. The lower the value the less trades there are, but safer. From -500 to 50000.
- RSI min: A minimum value to open a cycle of trades using H1 RSI.
- RSI Max: A maximum value to open a cycle of trades using H1 RSI.
- Max Simultaneous Trades: Max number of Martingale trades, I recommend a max of 5 to 7 depending on rest of settings.
- Low RSI Value: A RSI filter value for Martingale cycles.
- High RSI Value: A RSI filter value for Martingale cycles.
- Magic Number: Magic number for trades. Need to use different magic number for each instance of LiteWave.
- Start Time and End Time: Time of the day to trade. Use xx:yy format (i.e. 10:30).
- Use Percent Equity StopLoss. If true it will respect max DD in per cent.
- Max DD to accept. Value in percent of max DD to accept.
- Немного упрощен код.
- Изменены начальные параметры.
- Исправлены незначительные ошибки в функциях.
- Проверка параметров.
- Removed Trailing Stop.
- Simplified code for better execution.
- Improved entry algorithm and new default set.
- Parameter for deactivating a trailing stop
- New comment for each trade solved.
- New parameter period of RSI used for entry point added.
- New improved entry point system. Algortihm revised.
- New default set optimized.
- Various code errors corrected.
-Added EXTRA SINGLE TRADE MODE
Explained. This mode trades on one single trade or two trades.
If turned on all other Variables are overridden. So what happens is that trades are taken one by one and if things go wrong we have the option to try and breakeven with a single extra trade. This mode is designed for EURUSD on H1. Not suitable for other symbols unless it is optimized first. The Bias1 to 4 and TP 1 4 are TP and bias values for the four market sessions of Forex Market.
List of New Parameters.
Extra Single Trade Mode
-Mode Risk: Risk for each trade on this mode.
-SL per Cent: Stop Loss when A percent of DD is reached.
TP 1 - 4: Take Profit for Each Trade, 1 to 4 correspond to the Asian Session Australia Europe and US
Bias 1- 4: Bias for the World Session above mentioned.
Trailing Start: Pips to start trailing
Trailing Stop: Distance at which to set Stop loss on profit area.
Trailing Step: At how many pips of distance should a new trail stop be set.
One Super Extra Trade = Places a new Trade at a certain amount of Pips decided by the program the previous value of Distance within trades. Set it higher than 500 micropips.
- A limitation to only Forex values has been added. No CFD calculations method or others allowed. Only Forex Calculation Method.
-Added Trailing Stop for some situations. Will only work on Extra Single Mode or if Take profit is higher than Trailing Start and only for first trade. Once Martingale cycle starts there is no more Trailing Stop.
-Added Control of Errors and Avoid of problems, Error Corrections
-Added New Default Set. This new Default Set works fine on several low spread symbols. In Example EURUSD M5 AUDUSD M5 EURAUD M5 etc. Test and optimize before using.
-New comment adds magic number to comment
- New Display with Positioning options