• Overview
  • Reviews (16)
  • Comments (329)
  • What's new

LiteWave EA

This is a M1 / M5 / M30 Timeframe EURUSD or H4/Daily Martingale Scalper that selects intelligently when to enter the market and when to exit if things go wrong.

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 is simple but very effective.

Do not hesitate to download Demo and try.

As I say works best on M5 and M1 EURUSD chart.

Minimum deposit is 10 to 300$ (depending on the settings) for Micro Account And Cent Accounts and around 500 to 10.000$ for Standard Account.

It works fine with any kind of Spread and Commissions.

Best on STP Broker.

Works on VPS best, for faster execution of Trades. A bit of Slippage is ok.

Default set is for micro or cent account eurusd m30: which is better for martingale strategies

Other symbols and standard accounts are accepted. Specially recommended low Spread Currencies.

Best currencies so far have been the ones including EUR and AUD and USD.

Please feel free to contact me if you have any doubts. Sets are provided in the comments section.

WARNING: martingale strategies carry a high level of risk and it must be understood how to use them and that during news time it is not reccomended to use them.


  • Turn Display On Off: If True turns display On, If False Off.
  • Black Or White Font of Display: If true Fonts of Display are Black, white if False.
  • Distance From Left Side: Distance in pixels from the left side at which the display is set.
  • Distance from Upper Side: Distance in Pixels from the upper side of chart at which display is set.
  • Activate Trading: If true it continues trading. If false you can deactivate trading temporarily.
  • 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)
  • For experimental use 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.
  • Max Simultaneous Trades: Max number of Martingaled Trades, I recommend a max of 5 to 7 depending on rest of settings.
  • RSI period: This the period of the RSI indicator for calculation of the entry point of each cycle.
  • Low RSI Value: A RSI filter value for Martingale Cycles.
  • High RSI Value: A RSI filter value for Martingale Cycles.
  • START AND END TIME: Time of the day to trade
  • Magic Number: Magic Number for trades.
  • Use Percent Equity StopLoss. If true it will respect Max DD in per cent.
  • Max DD to accept. Value in per cent of max DD to accept.
  • Extra Single Trade Mode If turned to TRUE then all other Properties are overrriden. Except Martingale factor and Minimum Space between Trades.
  • Mode Risk: Risk for each trade on this mode.
  • SL per Cent: Stop Loss when A percent of DD is reached.
  • TP 1-4: TP for different AUS ASIA EUROPE AND US SESSIONS
  • Bias 1- 4: for different AUS ASIA EUROPE AND US SESSIONS
  • 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.
2017.02.27 15:17 

This is a thank-you purchase.

I am using a previous version I downloaded when it was free.

I put very little money in it (<400usd/month), and get like 30% profit per month.

From last May to now, the profit is more than I originally deposited.

Good for people with little start money.

And thank you Tomas.

He is kind to answer my rookie questions.

Will try to use the new version and see the result.

ANGEL seco fernandez
2017.02.23 18:21 

A month in real account, fxpro and darwinex, very good results.

2017.01.28 19:57 

Start date of EA: 10.01.2017, vps mql5 - latency less than 1.5-2ms.

***I will update my rewiev with stars rating and 2 real accounts results (LMAX and Tickmill-UK) after more than one month of using.

EA settings: https://www.mql5.com/en/market/product/14669#!tab=comments&page=14&comment=3987045

Live account results: https://www.mql5.com/en/market/product/14669#!tab=comments&page=14&comment=3993001

Right now I'm rating it to 4 stars, it deserves for backtests results and first real account results, if EA will make profit in longterm (at least 6 months) i will give 5.

Update: 5 stars!

2016.09.13 20:06 

Tests Litewave started in March 2016.

EA ran on real microaccount with a minimum deposit of XM - because I do not believe in backtesting.

Until today Litewave on default settings, survived all events - even Brexit - although there were moments when DD was big.

Litewave earned an average of 10-15% per month (including bonus of XM).

Until today doubled the account.

Litewave shows that there Martingale EA type that bring real profit.

Congratulations Thomas!

Deserved five stars :)

2016.06.21 18:38 


Julia Chebakova
2016.05.16 16:41 

exellent product,exelent developer, highly recommended.

Paolo Ronchetti
2016.04.22 00:42 

User didn't leave any comment to the rating

simone stucchi
2016.04.20 20:24 

very very good

Enrico Lombardi
2016.04.15 14:56 

User didn't leave any comment to the rating

Felipe Ponce Aragon
2016.04.14 23:56 

My reliable backtests that always reflect the real market, proved the fate of the EA is margin call. Additional details: I have a large experience in manual trading and forecasting, EA backtesting and trading with EAs in the real market. I ran extensive backtests on this EA with different settings over prolonged periods from 2010 to 2016. The result is always the same. Profits are made for some period of time, followed by a total loss of the account. Since this is a grid trader, it is unavoidable. The EA has a parameter to close all trades when a drawdown level is reached, and could recover the loss later, but even using this parameter, the loss of all the profits plus part of the deposit happens in all backtests. If the forecasting is good and a high percentage of trades is profitable, maybe it would last in the long term. But by now, all my tests confirm that the EA will lose the entire account. Regarding the reliability of my tests and quality of data used, I analyzed the real data from several sources during the periods in which the EA losses all the account, and the data is accurate. Also, my backtests have proven to behave like in the real market. Almost all grid trader EAs provide the same result in backtest as in the real market, because the entry logic is very simple and the recovery attempt is too. The EA does make a very nice profit. However, the reason I don't use it is because it will lose all the money in an account.

I was contacted by the seller who told me the users were properly notified that they must stop the EA during high volatility events. I looked into the product description and the comments and didn't find such a warning. The problem with grid traders is not only high volatility. Very large movements can occur slowly in the market and take weeks to form, even with no volatility at all. The problem with grid trader EAs is that if the market moves slowly against your first trade during weeks, this EA will open more trades in the same direction of the original trade, increasing the drawdown. If that movement continues for months, the whole account is blown up. So, even avoiding high volatility events, grid traders are sure to lose all the account. Until now, I haven't found a single grid trader EA that doesn't blow the entire account. If changes are made to the EA to cut the losses and then recover, I will update this review accordingly. But by now, 1 star is the appropriate, since the goal of the EA is to make profits, and the opposite happens. TO THE AUTHOR: I kindly apologize, I'm banned and cannot answer by private message until April 19, but will continue to analyze the product, thank you.

Dakun Zhao
2016.04.11 16:57 

Waiting for updates

Peter de Haas
2016.04.07 21:27 


Maksym Mudrakov
2016.04.07 20:58 

Хорошо работает.

Chang Chee Siong
2016.03.23 15:46 

User didn't leave any comment to the rating

Ovidiu Caslariu
2016.03.15 20:34 

User didn't leave any comment to the rating

Zhaosheng Shen
2016.03.09 10:01 

Good!I like this style.

Version 12.0 - 2016.09.09

Version 12.

- Removed Trailing Stop.
- Simplified code for better execution.
- Improved entry algorithm and new default set.
Version 10.11 - 2016.06.06
What's new v.10.11

- 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.
Version 10.5 - 2016.04.18

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.

Version 9.14 - 2016.04.07
Version 9.14

-New comment adds magic number to comment

- New Display with Positioning options