The Expert Advisor was designed for scalping, it combines the trend trading and grid trading. The EA places an order by the signal from the trend detection module. In the cases of false signals or trend reversals the EA places grid orders. The grids are closed by total profit.
The EA can maintain two opposite order grids on one instrument at a time. Exit from the position is possible both by reaching the target profit level, and by trailing stop.
The EA implements a two-level trailing stop:
- For the grid in general.
- For separate orders.
The first trailing stop maintains orders after crossing the breakeven level of the grid. The second one is designed to take the profit once the market goes flat "below" the break-even point (closes profitable orders and reopens them once the price rolls back to the corresponding grid level).
In order to decrease risk of losing the deposit, the EA provides the function to close the unprofitable grid once the specified loss level as a percentage of the account balance is reached.
The EA provides a wide range of options both for forming a grid of orders, and for position control (built-in money management).
Settings of the Expert Advisor
- Fixed Lot - Fixed lot size for the 1st order in the grid.
- Balance Risk, % (0 - use Fixed lot) - The risk level as a percentage of the deposit for the first order in the grid when using the automatic lot calculation. To use the fixed lot specify the value "0".
- Maximum Initial Lot - The maximum possible volume of the first order when using the automatic lot calculation.
- Lot Multiplier - multiplier for calculating the volume of the next order in the grid. Set to "1" for a constant volume.
- Maximum number of positions - The maximum number of orders in a single grid.
- Maximum Lot in Grid - The maximum volume of an order in a grid.
- Pips Auto correction - Selection of the correction mode for the values of input parameters depending on the amount of the instrument digits. The options are:
- Not_Use - not used.
- Set_to_4_digits - all parameters are set for 4-digit instruments (when set to 5-digit, the parameters specified in points are multiplied by 10).
- Set_to_5_digits - All parameters are set for 5-digit instruments (when set to 4-digit, the parameters specified in points are divided by 10).
- Grid Step, pips - The initial level of the grid, specified in points, in accordance with the previous parameter.
- Step Multiplier (1 - use fixed step) - multiplier for calculating the subsequent grid levels.
- Slippage, pips - slippage in points. Specified in accordance with the Pips Auto correction parameter.
- TakeProfit, pips - Take Profit level in points. Specified in accordance with the Pips Auto correction parameter.
- TakeProfit 2, pips - the level of Take Profit 2 in points, used if the grid is greater than the number of orders specified below. Specified in accordance with the Pips Auto correction parameter.
- First Order with TakeProfit 2 - the first order for using the TakeProfit 2.
- Use Grid Trailing stop - use the trailing stop for the order grid true / false.
- Stop Loss, % of balance (0 - not used) - maximum allowed loss level of the order grid. Specified as a percentage of the balance. Specify "0" to disable.
- TrailingStop, pips - trailing stop level in points. Specified in accordance with the Pips Auto correction parameter.
- Profit for TS activation, pips - profit level in points to activate the trailing stop. Specified in accordance with the Pips Auto correction parameter.
- Trailing stop step, pips - trailing stop step in points. Specified in accordance with the Pips Auto correction parameter.
- Use orders' Trailing stop - use separate trailing stops for orders true / false.
- Magic Number - The magic number to mark the Expert Advisor orders.