This is almost a standard trend martingale scalper having some money management, as well as position open and control functions of its own.
Originally, the Forex Rebate Trend Martingale Robot was developed for rebates (returning part of spread and/or commission from each trade). However, it can make money on its own. Default setting are for EURUSD M15. The EA moves along the entire history beginning from 2011 (I believe, there is no point in optimizing it for earlier periods as the market has changed greatly since then).
The EA can work on other currency pairs or timeframes as well. However, you will need to re-optimize its parameters.
All calculations are made based on close bars. Therefore, the tester results should not be different from the EA’s operation on a real account.
The deposit of 5 000 (usd or usd cent), the initial lot of 0.01 and maximum lot of 0.1 are required for normal risk (these values are set as default ones).
For higher potential profit and risk, apply the same settings for the deposit of 1 000, or set the initial and maximum lots of 0.05 and 0.5 respectively for the deposit of 5 000 (note: high risk of considerable losses).
- PriceFilterPeriod – trend filter period;
- PriceFilterMethod – trend filter method;
- TrendFilterPrice – applied price;
- VolatilityPeriod – period for defining the volatility;
- VolatilityMultiplier – volatility ratio;
- VolatilityMode – enable/disable absolute or conditional volatility calculation mode;
- TrendChangeMode – enable/disable extended mode for defining a trend change;
- MaxLots – maximum lot;
- TakeProfit – profit in points (the EA determines the importance of quotes automatically, therefore set the values as intended for four-digit quotes);
- TakeProfitSeries – profit in points for order series;
- MagicBuy – buy order magic number (make sure the EA uses unique numbers, so that other orders are not affected);
- MagicSell – sell order magic number;
- FixLot – lot for opening the first position;
- Koeff – lot increase ratio;
- Slip – allowed slippage (in points) when closing an order (you should enter the parameter separately for 5-4- and 3-2-digit quotes since it is not calculated automatically). This parameter has been left for compatibility, since it is not relevant in the market execution mode. If you are unsure, it is better not to change the value;
- ShowInfo – enable/disable EA status info in the chart comment;
- BuyColor – buy order color;
- SellColor – sell order color.
Copy and paste the file into the MQL4 Experts folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Experts (paste here)