I think after some toiling around, I got it right:

chance=70.71

multiplier=0.50

multiplier2=2.5

base=.001

nextbet = base

bethigh = true

function dobet()

if win then

if (wins % 3 == 0) then

nextbet = base

bethigh = true

else

bethigh = false

nextbet=previousbet*multiplier

end

else

if (losses % 1 == 0) then

nextbet = previousbet*multiplier2

else

if (currentstreak % -2 == 0) then

bethigh = false

else

bethigh = true

end

end

end

end

If anyone got it better refined compared to mine, let me know. This was about as close as I was able to get it.