A grid of limit orders is placed from the first order. If only the first order of the grid is opened, scalping and/or trailing stop is applied to it depending on the EA’s settings. Limit orders are removed and a new grid is placed when the order is closed or moves to breakeven by stop loss.
I developed this EA not as much to sell it as to use it for trading and make good money. I deal with grid strategies long enough and now I have a definitive concept of a good grid EA which does not use any indicators. The EA is meant for long-term trading in one direction, though it can also trade in two directions. Trade in two directions with caution. The EA’s parameters sustain intense trend correction, but as was said in the movie Margin Call: if you cannot determine when “the music quites down”, this EA can cause losses. In other words you have to realize the trend potential and prohibit opening a new grid (GridStop option) when you see the first signs of trend reversal.
The Main EA Features
- Does not use indicators;
- Limit order grid obviously demonstrates how the whole grid is located on the chart;
- Trailing stop and moving the first lot into breakeven, in this context re-opening of the grid allows to gain even more profit;
- Scalping is also appropriate for gathering rebates from your broker;
- Works irrespective of the chart’s timeframe when scalping is disabled (tested on any timeframe);
- Grid step is set per predefined total width of the grid;
- Grid step multiplier;
- Option prohibiting opening of a new grid;
- Automated money management as percentage of the balance or equity with predefined approximate maximum deviation from the initial price;
- Objective informational panel displays the most required data concerning the EA trading activity and allows to fix maximum drawdown, maximum deviation from the price and approximate critical price;
- Additional statistical data concerning the EA operation appears in the journal after deinitialization, switching to another timeframe or at the end of testing. These data include maximum drawdown in points and as percentage of the balance, profit and number of trades for each trading method (Martingale, scalping, trailing).
- BUY â€ Buy grid;
- SELL â€ Sell grid;
- FirstLot â€ Fixed size of the first lot if automated money management is disabled;
- LotExponent â€ Lot multiplier for the grid;
- TakeGridProfit â€ Grid take profit and breakeven level if trailing stop is enabled;
- trailing â€ If true, trailing of the first order;
- scalping â€ If true, scalping of the first order;
- bars â€ A bar to close the first order in case of a positive profit and to re-open a grid;
- autolot â€ If set to true, automated money management is enabled;
- equity â€ If set to true, automated calculation using equity, otherwise using the balance;
- NeedPips â€ Number of points by which the price moves into breakeven from the first order of the grid which the grid must sustain;
- Risk â€ Percentage of used deposit (if autolot is set to true);
- Step Between orders â€ Grid step;
- total Width â€ If Step = 0, the grid step is calculated from predefined total width of the grid;
- Step Multiplier â€ Grid multiplier;
- Maximum Number of orders grid â€ Number of grid orders;
- GridStop â€ If set to true, opening of a new grid is prohibited. The EA will only maintain opened orders;
- INFO â€ If set to true, the informational panel will be displayed on the chart;
- fonCol â€ Informational panel background color;
- txtCol â€ Informational panel text color;
- MagicS â€ Magic number of the EA’s orders;
- slippage â€ Allowed price slippage.
Purchase the EA right away because its price and price of its rent will increase by one dollar after every purchase.