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Forex Grid Trader EA (Krish Grid trader.rar)
https://mt4talk.com/viewtopic.php?pid=10062#p10062
The Forex Grid Trader EA uses a grid trading strategy.
The EA sets up a grid of buy and sell orders above and below the current market price. These orders are placed at specific intervals, creating a grid pattern.
You can adjust the lot size of the orders placed in the grid. The EA allows you to set the initial lot size and apply a multiplier for subsequent orders.
It has a Take Profit parameter that defines the distance from the entry price at which the EA will close a trade with a profit. There's also a Stop Loss function to limit potential losses.
You can enable a trailing stop feature, which means that if the market moves in your favor, the Stop Loss will be adjusted to lock in profits as the price moves.
You can specify the maximum number of open orders the EA can have at any given time.
There's an option for equity protection to prevent excessive losses. You can set a risk percentage of your equity, and if that threshold is reached, the EA will close all open trades.
Each EA instance can have a unique "magic number" to distinguish its trades from other EAs or manual trades.
Now, let's get into the adjustable parameters:
ShowTradeComment: Whether to display trading comments on the chart (true/false).
Lots: The initial lot size for the grid orders.
MultiLotsFactor: A multiplier applied to subsequent lot sizes.
StepLots: The distance between grid orders.
TakeProfit: The take profit level in pips.
UseTrailing: Whether to use a trailing stop (true/false).
TrailStart: The distance in pips at which trailing stop starts.
TrailStop: The distance in pips at which trailing stop is triggered.
MaxOpenOrders: The maximum number of open orders.
SafeEquityStopOut: Enable or disable equity-based stop-out.
SafeEquityRisk: The percentage of equity at which the EA will trigger stop-out.
Slippage: Maximum allowed slippage in pips.
MagicNumber: A unique identifier for this EA's trades.
TradeComment: A comment attached to the EA's trades.
Effective Strategy: This EA is best suited for a grid trading strategy. Grid trading involves placing buy and sell orders at set intervals above and below the current market price. It aims to profit from price fluctuations within this grid.
The FGT EA offers automation and a grid trading strategy, which can work well in ranging markets. You can customize parameters, and it has features like trailing stops and equity protection.
But, note that grid strategies can be risky in trending markets. It's not a one-size-fits-all solution. Backtest thoroughly, start with a demo account.
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