Hey everyone. Here is an expert adviser that I ran across while looking a fellow blogger's site. It is called TFX and it is it's 1.5'th incarnation (ever striving to reach forex nirvana).

This is basically a Martingale EA which does the following:

-User decides initial trade direction (let's say long) and starting lot size (say .1 lot)
-New position would be added every time the market moves x pips (say 10 pips) up or down away from the most recent position taken. If market moves up from the original position 10 pips a new long is added. If the market moves down 10 pips from the last position a short is added (basically following the market looking to catch a trend in either direction).
-Each new position size increased by x (ex: .1 lot)
-Take profit based on account %
-Stop loss based on account %
-Max number of standard lots before EA can't taken any new positions (at this point the T/P or S/L will need to be hit when max is reached)
-Re-enter mode would start a new progression again once the prior progression has ended do to T/P or S/L being hit
-Magic number to run on multiple pairs

This one looks a bit promising and I'm testing it currently on a North Finance demo account using the EUR/USD pair.

Post here if you'd like or you can follow the "original thread" at forex-tsd over here:

[url]http://www.forex-tsd.com/expert-advisors-metatrader-4/11734-martingale-ea.html[/ur]

I've attached the latest version to this post.

Attached Files

TFX v1_5.rar (4.8 KB, 4 views)

nevermind version 1.5..it turns out to be a real loser..v1.4 performed a lot better..this EA needs a lot of work..DO NOT use this on a live account!

This EA is still in active development. See this thread for more details:

http://www.forex-tsd.com/expert-advi...ingale-ea.html

Well folks you can forget about this one as the coder has decided to stop developing this EA. I think he realized that Martingale type strategies are fruitless and dangerous at the same time. At first I thought this showed a bit of promise, but after further testing I've changed my mind.

Time to move on.

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