Flat Martingale MT5

This robot is based on martingale logic but with flat lot size increment and limiting the opening trade frequency to avoid big risk due to this logic.

The positions are opened in both direction without setting Take Profit and Stop Loss.

Stop Loss is set only in case of running a positive trade and will be trailed.

The closure of all the opened positions is done by robot when the target profit is reached.

Suggested period is M1, but it also works with others.

Can be used on all pairs using default parameter as suggestion (just verify the spread applied to your broker to adjust the filter parameter). But before that, it is strongly suggested to follow the recommendations below.


Parameters

  • targetProfit: amount in account currency that will trigger the closure of all the positions.
  • commissionFactor: factor to calculate the commission on running positions as formula lotSize*commissionFactor (use the proper value based on your broker account).
  • pipsDistance: amount in pips that will trigger opening of new positions (suggested minimum value 200).
  • trailDistance: amount in pips that will trigger trailing when negative trades not running.
  • initialLotSize: initial size of lot to be opened.
  • slippage: slippage set during position opening.
  • allowedSpread: max spread allowed to open positions.
  • stopTrading: if true the robot will stop opening new positions in case there are no positions at all to be closed.


Recommendations

Do backtest of good quality (at least 99.9%) if you can.

Control the risk and work with appropriate volumes (lots) to your capital according the backtest results.

Be careful because a parameter setting too aggressive (pipsDistance too low and initialLotSize and/or targetProfit too high) could burn your account!

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Pier Gaetano Novara
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