There are 4 parameters for the core settings of the martingale.
Distance for the First Attempt: As the name suggests, this is the distance of the first attempt in points. For example, if a sell rally is started at price 1.52300 and you set this parameter to 50 points, the next positions will be placed 50 points above, at 1.52350.
Distance Multiplier: ESB calculates the level of the next attempt based on a ratio of the previous attempt distance. For instance, if ESB started a sell rally with a first attempt distance of 50 points and a multiplier of 2, the next attempt will be at 1.52350, then 1.52450, followed by 1.52650, and so on.
Max Attempts: This parameter sets the maximum number of attempts for a rally. Note that the first position of martingale does not count. For example, if you set this parameter to 5, your martingale rally will have 6 positions.
You can manually set the distance for attempts by filling the “Manual Attempts” field for buy and sell in a comma-separated format. In this case, ESB will not use the “Distance for the First Attempt“, “Distance Multiplier“, and “Max Attempts” parameters. For example, if you set Manual Attempts as: 50,90,130,190, this means there are 3 attempts with distances of 50, 90, 130, and the last attempt at 190 points. You can also use price levels by adding “L:” before each attempt, such as L:1.12100, L:1.12150, L:1.12200, L:1.12250. This means ESB will open the first attempt at 1.12100, the next at 1.12150, and so on. A mix of styles is also applicable, like L:1.12100, 50, L:1.12200, where the first attempt is at price level 1.12100, the second attempt is after 50 points, and the third attempt is at price level 1.12200. You can also use expressions here, for example, L: MA1, ATR1/POINTS, L: MA1+50points, …
Just ensure that expressions output in points. For instance, ATR1 outputs as 0.00020, which is not the correct format. Use ATR1/POINTS to get 20 instead of 0.00020.
Lottage Multiplier: In a rally, every new position has a volume that is a ratio of the previous position’s volume. This ratio can be set by this parameter.
Attempt Conditions for Buy/Sell: If you want to set conditions for each attempt, fill this field in a comma-separated format. For example, MA1>MA2, RSI<30, ASK<1.12100. This means ESB will open the first attempt if MA1 is greater than MA2, the second attempt if RSI is less than 30, and the third attempt only if ASK is less than 1.12100. Leave these fields empty if you do not want to check conditions before opening new attempts. If conditions are specified for some attempts, the default condition for other attempts will be true.
