Simple and effective martingale strategy. Probably the most popular and the easiest one. EA starts trading from buy or sell order (you can choose), then EA places an opposite pending order. Once a pending order is filled, EA places another pending order in the opposite direction. It happens until TP is reached. Check examples below. In theory this strategy is 100% win, whatever the price is rising or falling, but obviously it may be very risky. Most of the time EA performs well, the biggest enemy for this strategy is when the price is jumping up and down. With optimized settings you can reduce the risk.
First order - choose first order, buy or sell
Start lot size - first's order lot size
Lot multiplier - how much to multiply the previous order
Channel size pips - probably the most important setting in this EA, it controls the distance between all orders.
Take profit pips - take profit in pips which is applied for each order. Once reached all orders are closed and the strategy instantly runs again from start.
Max open orders - choose how many levels you want to allow EA to open. In this way you can reduce the trading risk.
Time settings - you can control the trading time. It's applied only for opening the orders. EA 24/7 is ready to close all orders once TP is reached.
Strategy example. Actually it's a very simple strategy.
Similar results to this test can be achieved with this EA.
EURUSD 2021.01.11 - 2021.11.07
First order - buy
Start lot size - 0.01
Lot multiplier - 2
Channel size pips - 40
Take profit pips - 50
Channel size pips setting.
Take profit pips setting.
Inputs menu of the Hedge Martingale EA MT4.
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