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I'm sure you know how Martingale works, so there's no need to explain it. The odds of it working stay 50/50, and thus a gamble. One can't trade with 50/50 odds, you need a higher profit/loss ratio to be successful. Eventually, you'll run out of trading capital and it'll blow your account...

Hi, Anyone using Red Dragon V1.3 with good returns? Mind sharing Set Files for MT5?

I guess it depends on the goal one would like to accomplish. I like to use Donchian Channel, Nadaraya Watson Envelope, RSI and MACD mostly.

@ Experienced Traders May I ask what Indicators or methods you prefer to use to map out Support and Resistance Zones? I would like to do more research on this, both for Forex as well as Synthetic Markets. The idea would be to combine several Indicators and Methods into a single Indicator.

I have yet to find an EA that works flawlessly. Some make excellent returns only to blow your account at a later stage, some need intervention to manually close orders prematurely to maximise profits. Some work well in certain market trends and must be switched on/off as required. As for the...

Masimpe - I did not mean to discredit your EA in any way - I couldn't edit my post. This is V1.1, latest is V3 I believe?!? However, this one does burn accounts. Thus for me posting this is harmless, I believe you posted it on YouTube before. Anyone selling this would be selling an EA that...

If you don't have it, add this to your Data Folder under /MQL5/Indicators/

It's included in MT5.

Yours is available online, and it blows accounts. I can't see the harm in posting it as it's useless and for you to sell it as a "Profitable EA" is BS.

Seems like an Indicator for Step Index or Volatility Index.