This is a high-risk, free Martingale EA (Expert Advisor), which trades using a progressive lot-sizing strategy. It increases position sizes after losses to recover prior losses and secure profit. The free Martingale Forex EA uses Bollinger Bands and Top Bottom Price indicators for trade entries. While it can work on any timeframe, optimization is recommended for specific timeframes to enhance performance. Here is an overview of the strategy:
- Initial Lot Size: 0.1 lots (default starting size for trades).
- Maximum Lot Size: 0.5 lots (prevents excessive exposure to risk).
- Martingale Multiplier: 2 (doubles the lot size after each losing trade).
- Lot Size Adjustments: Allows incremental lot size changes, with an adding amount of 0.1 and a reducing amount of 0.1.
- Stop Loss: 85 pips (default risk level per trade).
- Take Profit: 90 pips (default profit target per trade).
- Indicators:
- Bollinger Bands: Used to identify overbought and oversold levels. The standard deviation parameter is set to 2.85.
- Top Bottom Price: Evaluates support and resistance levels. Sensitivity is set to 380.
- Account Protection: Includes a minimum equity threshold to stop trading if the account balance drops too low.
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Disclaimer: This Free Martingale EA is for educational purposes. Download the Martingale Forex EA and test it on a Demo account. It is a high-risk strategy, and it should be tested extensively on a demo account before any live trading.
