Martini Expert Advisor How it works? – A Descripction

Martini Expert Advisor is a simple yet powerful script that employs Martingale strategy based on volatile price movements and a breakout in the trend direction. This Expert Advisor does not employ any technical indicators, but rather relies on price movements in both directions.

When the Expert Advisor starts, it places a BUY-STOP order at a distance of STEP points above the current Ask price, and a SELL-STOP order at a distance of STEP points below the current Bid price.The initial lot size of both these orders is set to LOT. It then waits for either of these two pending orders to be executed.

If the BUY-STOP order is executed, it then places SELL market order when the price reaches a distance of STEP points below the entry price of the initial BUY-STOP order. The lot size of this new SELL order is set to twice the value of LOT.  As a result the net lot size is LOT in the SELL direction. If the price falls further, the Expert Advisor will be in profit, and will exit based upon the PROFIT_CLOSE condition. However, if the price rises after the SELL order is opened, the Expert Advisor places a BUY market order when the price reaches STEP points above the SELL order entry price. The lot size of this new BUY order is twice the lot size of the previous SELL order. The overall position is now thrice the value of LOT in the BUY direction.

On the contrary, if the initial SELL-STOP order is executed first, the Expert Advisor places a BUY market order when the price reaches a distance of STEP points above the entry price of the SELL-STOP order. The lot size of this new BUY order is set to twice the value of LOT.As a result the net lot size is LOT in the BUY direction. If the price rises further, the Expert Advisor will be in profit, and will exit based upon the PROFIT_CLOSE condition. However, if the price falls after the BUY order is opened, the Expert Advisor places a SELL market order when the price reaches STEP points below the BUY order entry price. The lot size of this new SELL order is twice the lot size of the previous BUY order. The overall position is now thrice the value of LOT in the SELL direction.

The logic behind Martini Expert Advisor is that by placing alternate BUY and SELL trades with increasing lot sizes, it improves the probability of profit when the price keeps moving in the direction of the last (recent) trade.

If the net profit of all the open trades reaches PROFIT_CLOSE the Expert Advisor immediately closes all the open positions and deletes the pending orders. It then resets and starts afresh.

Since this Expert Advisor uses Martingale method of increasing lot size, care must be taken to ensure that the account is adequately funded and enough free margin is available. Likewise, the broker must allow placing of hedged (BUY and SELL) orders.

Configurable Inputs for Martini Expert Advisor

  1. STEP –The distance in points from the previous trade to open the next Martingale position. It is also the distance from the initial price where the Expert Advisor starts placing the initial pending orders.
  2. PROFIT_CLOSE– The profit in account currency, which when reached closes all the open positions and pending orders of the Expert Advisor and restarts the Expert Advisor.
  3. LOT – The lot size of each trade opened by the Expert Advisor.