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GridMaster_03.mq4 - Expert Advisor for Forex Trading
Explore the capabilities of GridMaster_03.mq4, a powerful Forex robot designed to optimize your trading experience. This expert advisor (EA) navigates market trends, offering automated solutions for efficient trading strategies. Tested on LQDFX and FXOpen, this EA is compatible with various brokers, promising versatility in your trading endeavors. Elevate your Forex journey with GridMaster_03.mq4.
GridMaster_03.mq4 15.72 kb, 46 downloads since 2015-04-19
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So let me break down this EA called GridMaster_03.
The main idea behind this EA is to create a grid of buy and sell orders. Instead of trying to guess where the market is heading, it adapts to what's happening in real-time. Once a day, at 23:00 GMT, it closes all open trades.
Now, let's talk about the settings you can tweak to personalize your trading experience:
"Lots": This is like your trade size – how much you're willing to invest in each trade.
"ProfitEntry" and "ProfitExit": These are your thresholds. When your total profit is below "ProfitEntry," the EA will open new trades. When it's above "ProfitExit," it stops opening new trades and starts closing existing ones.
"ProfitIncrease" and "MaxProfitExit": "ProfitIncrease" tells the EA how much to raise your profit target every time it trims an edge. "MaxProfitExit" sets a limit on how high the profit target can go.
"MaxTrades": This limits the number of orders you can have open at a time.
"BalanceDelta": It helps you control the balance between your buy and sell orders.
"BucksPerPip": This is the value of each pip, a tiny price movement in Forex.
"dFreeMargin": It determines the minimum amount of margin required for trading.
"Slippage": Slippage is the allowable difference between the expected price and the actual price at which an order is executed. This setting helps you avoid getting into trades at less favorable prices.
"log": If you set this to 1, it'll give you some details for troubleshooting.
Here's how the EA works its strategy:
If you don't have any open trades and have enough margin, it opens new trades (buy or sell) based on your "Lots" setting.
It keeps track of your buy and sell orders and calculates their average prices.
If the number of buy orders exceeds the sell orders and there's a profit target to reach, it increases the profit target and moves the target price.
The EA keeps doing this until the profit target is met or exceeded.
This EA is useful for Forex traders who prefer a reactive approach to trading. It's important to set the parameters (Lots, ProfitEntry, ProfitExit, etc.) based on your risk tolerance and trading goals.
GridMaster_03.mq4 15.72 kb, 5 downloads since 2023-11-07
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