OPEN-SOURCE SCRIPT
Martingale Template
A template example on how to apply the famous Martingale gambling strategy. When your strategy gets an exit signal for your long position that leaves you without profit, you re-enter on the next entry long condition with double the capital of the previous amount entered with. You keep doubling the amount of capital entered with until you finally exit with a profit. If the strategy isn't sound enough then it could take several attempts and it can take only as much as a dozen tries to eat away at all your capital as the capital required to double on the next entry increases greatly over time by consecutive products of 2.
The strategy used is just a simple moving average crossover, above the moving average is going long, below the moving average is going short. It can be replaced with whatever strategy that you want. The colored vertical bars show long and short positions and exits. The default option on the tick box under the settings show the number of attempts at entering before finally exiting with a profit, the other option shows the amount of capital it took starting from 1.
The strategy used is just a simple moving average crossover, above the moving average is going long, below the moving average is going short. It can be replaced with whatever strategy that you want. The colored vertical bars show long and short positions and exits. The default option on the tick box under the settings show the number of attempts at entering before finally exiting with a profit, the other option shows the amount of capital it took starting from 1.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.