This post reminded me of a martingale system that i bought back around 1990 when I was first interested in trading.
I did a little searching and it looks like the author has died, the software is no longer for sale, but the documentation is here.
the algorithm explained
http://www.petereliason.com/sts/book_ch11.html
main page
http://www.petereliason.com/sts/title.html