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LiteWave EA

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.

Default set is for micro or cent account EURUSD M1.

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.

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 recommended to use them.


  • 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.
Mohammad Soubra
Mohammad Soubra 2018.06.03 15:13 

not bad

Jaldip Ramani
Jaldip Ramani 2017.12.28 06:29 


donburkett 2017.09.20 19:05 

Excellent Product

Rodrigo da Silva Boa
Rodrigo da Silva Boa 2017.08.28 07:37 

El usuario no ha dejado ningún comentario para su valoración

Eng Hoe Teh
Eng Hoe Teh 2017.04.16 09:56 

one of the top EA, and helpful developer, 5 star !!

Thomas Kjelvik
Thomas Kjelvik 2017.03.30 08:28 

El usuario no ha dejado ningún comentario para su valoración

basophil 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 2017.02.23 18:21 

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

mayamak 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!

Waldekm 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 :)

daryllb 2016.06.21 18:38 


Julia Chebakova
Julia Chebakova 2016.05.16 16:41 

exellent product,exelent developer, highly recommended.

Paolo Ronchetti
Paolo Ronchetti 2016.04.22 00:42 

El usuario no ha dejado ningún comentario para su valoración

Simone Stucchi
Simone Stucchi 2016.04.20 20:24 

very very good

Elpis 2016.04.15 14:56 

El usuario no ha dejado ningún comentario para su valoración

Dakun Zhao
Dakun Zhao 2016.04.11 16:57 

Waiting for updates

Peter de Haas
Peter de Haas 2016.04.07 21:27 


Maksym Mudrakov
Maksym Mudrakov 2016.04.07 20:58 

Хорошо работает.

Chang Chee Siong
Chang Chee Siong 2016.03.23 15:46 

El usuario no ha dejado ningún comentario para su valoración

Ovidiu Caslariu
Ovidiu Caslariu 2016.03.15 20:34 

El usuario no ha dejado ningún comentario para su valoración

Zhaosheng Shen
Zhaosheng Shen 2016.03.09 10:01 

Good!I like this style.

Versión 14.3 2017.04.06
- Удален режим торговли одной сделкой.
- Немного упрощен код.
- Изменены начальные параметры.
- Исправлены незначительные ошибки в функциях.
- Проверка параметров.
Versión 12.0 2016.09.09

Version 12.

- Removed Trailing Stop.
- Simplified code for better execution.
- Improved entry algorithm and new default set.
Versión 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.
Versión 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.

Versión 9.14 2016.04.07
Version 9.14

-New comment adds magic number to comment

- New Display with Positioning options