Decent Martingale Strategy [Pinescript v3] by DasanC
By DasanC
Performance Metrics
- Author: DasanC
- Symbol: OANDA:XAUUSD
- Timeframe: 1 hour
- Net P&L: +77,929.04 USD (+7,792.90%)
- Win Rate: 46.8%
- Profit Factor: 2.925
- Max Drawdown: 2,090.46 USD (21.69%)
- Total Trades: 1,499
- Sharpe Ratio: 0.622
Description
In my experimentation to add some sort of hedging to trades, I stumbled on the Martingale roulette betting strategy. If it works in the casino, why not here?The principle is simple:If you lose a trade, immediately go the opposite direction and double your bet.In this case, we're just applying a multiplier.The strategy is a simple EMA crossover - defaulted to my favorite periods 8 and 62.Enjoy :) I'll make a new one that's contained in a function, so you can simply implement it in your own strategy and have it monitor winning/losing trades automatically.Cheers,DasanC