Grid Builder 2 Forex EA - Tested on LQDFX and FXOpen

Unlock trading potential with Grid Builder 2, a powerful Expert Advisor (EA) designed for optimal performance in the forex market. This Forex Robot employs advanced strategies to navigate market trends, ensuring precision in your trades. Download Grid_Builder_2.mq4 now for automated trading excellence. Tested successfully on renowned brokers LQDFX and FXOpen. Elevate your trading experience with this proven Forex EA.

Introducing the Grid Builder 2 Forex EA - Your Ultimate Forex Trading Assistant!

Grid Builder 2 Forex EA is a hedging grid trading strategy. It places both buy and sell orders around the current market price at specified intervals (GridSpace). If the market moves in one direction, the EA tries to lock in profits by trailing stop losses. It aims to make a profit regardless of market direction.

How it Works:

The EA calculates the grid levels above and below the current market price based on GridSpace.
It checks if there are any open orders with a specific Magic Number.
If there are no orders, it opens buy and sell stop orders above and below the market price.
If there are open orders, it checks their profit and adjusts stop loss orders based on the TakeProfit and TrailStopLoss settings.
It also ensures that the maximum number of open long and short positions (MaxLong and MaxShort) is maintained.
The EA continues to monitor and adjust orders as the market moves.

To set up the Grid Builder 2 EA, follow these steps:

Attach the EA to your MetaTrader 4 (MT4) platform.

In the MetaTrader platform, go to the "Navigator" panel (usually on the left side).
Expand the "Expert Advisors" section.
You should see your EA in the list.
Drag and Drop the EA:

Drag and drop the EA from the "Navigator" panel onto the chart you want to use it with. Make sure to choose the currency pair and timeframe you want to trade.

Set Parameters:

A dialog box will appear, allowing you to set the EA's parameters. Configure the parameters as desired:

MaxLong: Defines the maximum number of long (buy) positions that can be open simultaneously.
MaxShort: Specifies the maximum number of short (sell) positions that can be open at the same time.
Risk: This parameter allows you to set the risk percentage for each trade. It determines the lot size based on the risk percentage and available margin.
Lots: The lot size you want to use for each trade. This is used when Money Management is turned off.
Slippage: Sets the allowable slippage in pips for order execution.
AccountIsMicro: If set to true, it indicates that you are using a MicroAccount with minilots. Set to false if you're not using a MicroAccount.
UseMoneyManagement: When enabled (true), it activates the Money Management feature, which calculates the lot size based on the risk percentage and available margin.
TakeProfit: Determines the price level at which a trade's profit must reach before the trailing stop loss activates.
Stoploss: Sets the initial stop loss level in pips for each trade.
TrailStopLoss: Specifies the distance in pips by which the trailing stop loss follows the market price when the trade is in profit.
GridSpace: This parameter defines the spacing between grid levels in pips. It is the distance at which the EA will place buy and sell orders around the current market price.

Enable Auto-Trading:

In the top menu, click on "Tools" and ensure that "AutoTrading" is enabled. It should have a green icon. This allows the EA to place and manage trades automatically.

Start the EA:

Click the "OK" button in the parameter settings dialog to apply your chosen settings.
If everything is set up correctly, you should see the EA's smiley face icon in the upper-right corner of the chart.

Monitor the EA:

Keep an eye on the EA's actions in the "Experts" and "Journal" tabs at the bottom of the MetaTrader platform. These tabs will display any trading activity or errors.

Here's a suggested setting for the Grid Builder 2:

Currency Pair: EUR/USD Time Frame: 1-hour (H1) Minimum Budget: $1,000

EA Parameters:

MaxLong: 1
MaxShort: 2
Risk: 5%
Lots: 0.1
Slippage: 3
AccountIsMicro: False
UseMoneyManagement: True
TakeProfit: 15
Stoploss: 40
TrailStopLoss: 10
GridSpace: 15

Please note that these settings are just a starting point and should be adjusted based on your risk tolerance and market conditions.

Share

Facebook Twitter Print Pinterest Gmail Email App