Decent Martingale Strategy [Pinescript v3]

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.


Need Indicators/Strategies for TradingView? -> t.me/pinescripters_jobs
General questions about Pinescript? -> t.me/pinescripters
My Premium Discord Coming soon!
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.


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