Simple low risk martingale EA

Short Description:

The EA trades one specific forex pair in a low-risk Martingale way. The trade direction is random.

Martingale Money Management:

The core of the EA consists of a row of 10 equal numbers that represent the lot sizes.

For example: 1 – 1 – 1 – 1 – 1 – 1 – 1 – 1 – 1 – 1.

The EA trades in «runs». Once a run is finished, it starts the next run.

In each run, the row of 10 equal numbers (lot sizes) is cleared.

This clearing of the row happens as follows: For the first trade (and all others), the two outer numbers are summed up (here: 1 + 1 = 2). A trade (for example, EUR/USD) with a random direction (for example, BUY) and the calculated lot size of 2 is entered. SL and TP have the same distance, so that there’s always a chance of 50% to lose or win the trade.

In case the first trade is won, the two outer numbers of the row are cleared (deleted), resulting in 8 numbers left:

1 – 1 – 1 – 1 – 1 – 1 – 1 – 1

In case the first trade is lost, the lot size of the lost trade (2) is added to the end of the row, resulting in 11 numbers left:

1 – 1 – 1 – 1 – 1 – 1 – 1 – 1 – 1 – 1 – 2

From here, this procedure is being repeated until the row is empty:

In case the first trade was won, the two outer numbers of the row are summed up (1 + 1 = 2) and a trade is placed accordingly (2 lots, random direction).

In case the first trade was lost, the two outer numbers of the row are summed up (1 + 2 = 3) and a second trade is placed accordingly (3 lots, random direction).

If this third trade has also been lost, the lot size number (3) would be added to the end of the row and the next trade would be 4 lots (3 + 1 = 4):

1 – 1 – 1 – 1 – 1 – 1 – 1 – 1 – 1 – 1 – 2 – 3

The Martingale logic: As a won trade clears two numbers, but a lost trade only adds one number to the row, it takes on average 20 trades to clear the row. (Every trade has a 50% chance of winning/losing). There’s a profit factor of 1.5.

The Details:

(a) The EA only trades the chart (forex pair) it has been placed on. However, it should be possible to place the EA on multiple charts within a single MT4 platform, so the use of magic numbers might be needed (you’re the expert here).

(b) The randomness of the trades should be based on a random generator, not simply alternating buy and sell orders.  

(c) SL and TP are not hidden, they’re communicated to the broker.

(d) SL and TP values in pips can be specified inside the EA. As SL and TP always have the same values, only one field is needed here.

(e) There should be a pause between the trades, which can be specified within the EA in minutes.  

(f) As already mentioned above, the EA never stops trading: Once a run is finished (that is, once the row is cleared), I will start the next run with the next 10 number row.

(g) The 10 lot sizes in the (initial) row (1 in our example above) can be specified within the EA in absolute numbers.