Ilan Refact 1.7 - Martingale Without Losses

Hello, ladies and gentlemen, Forex traders!

Is it possible to make money on martingale without worrying about it every day, being afraid of huge losses? It is possible. Today we will talk about the well-known family of Ilan 1.6 robot, which was fundamentally redesigned. The advisor trades purchases and sales simultaneously from one chart, a number of useful functions for order maintenance added, like a variable step for building a flexible and resilient to drops order net and something else.

A little later, our programmers (big respect to the LeoK) of this expert have improved it a bit more and made it more convenient and practical to use - with the preservation of the author’s logic of work. In the end, Ilan 1.7 Refact advisor arose, and today it is in our review.

Advisor Characteristics

Platform: Metatrader 4
Version of Expert Advisor: 1.7
Currency pairs: EURUSD, GBPUSD, AUDUSD, EURJPY
Timeframe: M5
Working time: 24 hours
Recommended Brokers: Roboforex, Forex4You

Installation help

The advisor is installed according to the standard instruction. A fundamentally important point - the adviser trades with purchases and sales at the same time. In addition, an expert that can be downloaded in this post already has prescribed different magic orders in the settings - thus the user does not need to change anything (different magic numbers are needed so that the bot correctly accompanies the orders for sales and orders for purchases - without confusion).

Advisor Strategy

Ilan Refact 1.7 is a modification of the well-known expert advisor using the principle of martingale. The advisor trades simultaneously with purchases and sales from one symbol chart. Like all Ilans, the RSI oscillator readings are taken into account to enter the transaction. After installing the advisor and permission to trade - after a while (maybe 15 minutes after launch, sometimes almost immediately), it opens a pair of orders for buying and selling. There will be a picture as on the screen below:

If the day turns out to be very flat, there will not be any obvious movement in one direction or another, and the price will not reach the level specified in the options for opening the next order - then a pair of buy and sell orders can hang all day.

An important feature is that initially orders do not have a Stop-loss and Take- Profit orders. After that, depending on what kind of movement will be on the market, up or down, the advisor begins to open new orders against the trend. If the movement is upward, the advisor sells, if it’s downward, the adviser buys. Here, everything is like in all martingales, without exceptions. And, already in this case (from the second order, opened against the trend) there appears a take profit order. Later, as soon as the price rolls back, the advisor will close the order (orders) according to the take profit, and he will again have a couple of buy and sell orders in the market without stop loss and take profit orders. After that, the advisor will repeat on a new trend all the actions described above.

Note that after closing the order grid, the advisor’s step between buy-sell orders increased. And, this will happen every time after the grid is closed. The difference between orders depends on the volatility in the market, it can reach 50-70 points. And further, in order to “move” the advisor, you will have to expect greater volatility. Sometimes, after very strong movements something like that can happen (example with two orders with 150 points between them):

What to do in this case? Either close both of these orders (usually in a plus lock) and start advisor again or wait for even more movement in the market. This is a fundamental feature of Ilan Refact EA. Therefore, when we disassemble the advisor’s Backtest, you will realize that tests on the trading history, where you can periodically manually intervene, will differ, and sometimes greatly. The Advisor starts to increase the lot from the third order, and the first and second orders come with the lot set in the settings - which is a very important detail (similar to the Forex Setka Trader, for example).

Another example of the advisor work. Blue lines marked the buy orders, red lines marked the sell orders. As you can see, on a good downward movement, the advisor was building a grid of buy orders for purchases, on the other hand, there was a sales order (without stops and takes) and collected many hundreds of profit points - compensating for the growing drawdown on the buy grid.

Currency pairs

The most famous and widespread currency pairs are EURUSD, GBPUSD, AUDUSD, EURJPY. Pay attention to spreads - the less, the better; Pay attention to the leverage - the higher, the better.

Theoretically, you can try using other currency pairs. Here is an example with a “Men cross” - a pair of GBPJPY. Since for this pair it is not difficult to fly on a thousand points - then the main step between the orders is set to one hundred old pips, and to another 50 points from the fourth order, the extension is written in the settings (that is, the next steps will be 150-200-250-300 points and so on). I remind you - in the Expert Advisor you need to specify in this case a step of 1000 (one thousand) points - if you have a five-digit account (for a four-digit account you can only put 100). If you make a 100 step in a five-figure account - it will open a new order every 10 points (10 old points with 4 digits - is 100 new points with 5).

After opening two orders without SL and TP, the adviser waited for a movement of 100 points to open a new order. As soon as the price passed the traffic set in the settings - the second order was opened and the order took profit.

Further, the price has passed the distance to take profit, the grid is closed and again two orders are in operation.

That is, try something new, nobody prohibits you to conduct an experiment.

Advisor Backtests

With testing, there are some interesting nuances that need to be mentioned.

• The moment of entering the market is fundamentally important: one trader started the advisor at the beginning of the non-reversal on Thursday and on Monday evening has a drawdown, and the second trader launched an adviser on Monday from the market opening and on the same evening is having a profit;
• The advisor can work not on one, but on 2 or more currency pairs.

These factors all make the testing process itself difficult, and the results of the test will also be rather questionable. That is, at the tester, you may have a lost, but in a real trade, you won’t (or vice versa). And, if you manually intervene in trading - sometimes prohibiting the trade, sometimes allowing, closing locks of two orders and re-launching the bot work. In the end, the test results will have nothing to do with the reality (in the tester, this is not taken into account), remember this.

However, I did some tests for you anyway - to make it clear - the advisor is very interesting and deserves attention.

EURUSD (2015-2017)

GBPUSD (2015-2017)

EURJPY (2015-2017)

Monitoring

Start: 2025.05.16

Broker: Roboforex

Roboto version: 1.7

Settings:

Currency pairs: EURUSD, GBPUSD.

Timeframe: M5.

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Start: 2024.10.15

Broker: Forex4you

Roboto version: 1.7

Settings: currency pairs: AUDNZD, CADCHF, GBPUSD, EURUSD, EURJPY. Lot:0,01. Lotexponent=2.

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A few comments on the monitoring.

The first monitoring from our Robotest rubric. There is not much to tell, the EA launched recently, so you just can see how transactions are being made.

But, the second monitoring is from a private trader Cerebellum. This is the oldest advisor monitoring - it works since 2013, and as you can see from the history, which it is open, the adviser works with the lot exponent 2. Do you know a lot of such robots? Similarly, monitoring shows a drawdown and the yield curve almost went down. This was in early 2016 on the pair CADCHF (see the daily chart of this pair for the specified period). However, the deposit was not completely lost, and now the adviser practically restored it. Why it happened: a step between the orders of 30 points and the lot exponent is 2. It was not enough for the advisor to return and finish with a profit, although after fixing the losses, the pair turned around and went up. Theoretically, everything was correctly done by the bot. In a word, very interesting monitoring.

Description of Settings

Lots — starting lot size;
LotExponent — multiplier for a new net order;
StepPeriod — period for setting net step;
StepDel — divider of the step in a period;
StepMin — minimal value of net step (in points);
StepPlusOrder — net order number, after which the net step starts to increase;
StepPlusValue — net step size increase after the StepPlusOrder;
Slippage — allowed slippage at requotes (in points);
TakeProfit — after reaching how many profit points to close the order net;
RsiMinimum — lower RSI(14) indicator level of the current timeframe;
RsiMaximum — upper RSI(14) indicator level of the current timeframe;
MagicBuy — MagicNumber for BUY orders;
MagicSell — MagicNumber for SELL orders;
MaxTrades — maximum number of orders in the net;
StartProfit — starting order profit in deposit currency, when reaching of which it is closed if a pair order is not yet open.

The robot goes with a preset file with the settings - use it if you do not know how to choose the settings. Settings are for cent/classic accounts with a 5-digit price. For those who do not know what is the difference between the accounts with 4 and 5 digits after the comma - look here;

Attention! Do not change anything in the parameters of the Expert Advisor and use only the recommended values unless you know exactly what you are doing!

Recommended Money Management

Not less than 1000 currency units using 0.01 lot. If the trade is carried out in the cent account, it will be $10 (1000 cents).

For moderate risk, it is recommended to trade with 5,000 currency units, in the cent account it will be $50 (5000 cents).

For conservative trading, 10,000 units of currency are recommended, in the cent account, it will be $100 (10,000 cents).

Conclusion

As you already understood from the review - this adviser will not make you a millionaire in a short time, however, it will not lose your deposit in the first news week of the month - which can happen with many Martingale type robots.

And, of course, follow the recommended money management and the rules of working with “dangerous advisors“!

Important !

For the correct operation of the EA, the trading terminal must be switched on from the market opening on a Sunday evening until its closing on Friday evening. If you do not have the ability to keep your computer working 24/5, then it is recommended to use the VPS server service.

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Download Forex robot „Ilan Refact 1.7“

Take care, Michael

ForexTraderPortal.com