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BF Grid Master EA product page: https://www.mql5.com/en/market/product/27411
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Before asking any questions, please read the entire description carefully! I will try to explain everything in details!
WARNING: BF Grid Master EA is a grid based trading strategy. You should not use it, if you are not aware of the risks associated with this type of trading. Do not risk money, you cannot afford to lose!
BF Grid Master EA is a very effective and profitable trading strategy developed especially for the GBPUSD currency pair. However, if it is used wisely it can be adapted and applied for almost any trading instrument.
The grid based trading techniques are a very controversial topic in the trader’s community. The reason for this is the following - used properly with proper risk and settings, they can generate consistent gains relatively safe with performance incomparable with any other trading strategy. On the other hand in certain circumstances they fail dramatically. The key elements for the success of any grid based trading are the applied risk and the right entry and exit trading logic.
BF Grid Master EA is designed to pick up the right moment for the initial market entry and for the following additional grid based recovery trades. The second safety line of additional trades is an unique feature, which is not present in any other grid EA on the market. This feature allows a safe “high frequency” scalping, when the price is in narrow range and as well a second line of distant drawdown compensating trades in case the market price breaks in the wrong direction. The second line of drawdown compensating trades is initiated only in extremely stretched in the “wrong” direction market, only after a very strong market reversal pattern is detected.
Probably, the safest way of using grid based trading strategies is to determine wisely the most probable trading direction and allow trading only in this direction.
Please, backtest on GBPUSD after 2009, using the “M1 open price only” method, with start balance at least $3000!
BF Grid Master EA is equipped with features, like:
- overbought-oversold trend filter
- additional time filter
- long only and short only option
- add on reverse option
- second line of recovery option
- The minimum starting capital is $1000
- The advised starting capital is $3000
- For accounts from significant importance, AutoMM greater than 0.1 is not recommended. This is the equivalent of 0.01 lots initial trade on $10k account equity. In this case the annual ROI (Return of Investment) can be expected in the 15-30% range.
- The default settings are only for GBPUSD !!!
- The recommended time-frame is M15!
- The default settings can be classified as reasonable aggressive. Please, perform your own backtests and examine the way the EA works! If this settings are too aggressive for you, then you can try the conservative settings attached to this post. Please check the bottom of the post.
BF Grid Master EA settings:
Magic – unique identifier of the EA
EA_Comment – with this parameter you can change the EA comment in the trading history
MaxSpread – maximum allowed spread in pips
Slippage – maximum allowed slippage (works only for non-ECN brokers)
NFA – use true for NFA regulated brokers
No_Hedge – use true in order to disable the hedging
LongTrades – enables/disables the long trades
ShortTrades - enables/disables the short trades
M1_Execution - enables/disables the execution of the trading logic on M1 bar open
BetterPricePips – minimum allowed distance between any of the additional trades and the previews trade in pips
MaxNegAdds - maximum allowed number of the first line additional trades
AddOnReverse - activates a mode in which the additional trades are allowed only after a reversal bar is detected
ReverseBarTF- the timeframe of the reversal bar for the AddOnReverse feature
ForceProfit - market exit profit in pips
ForceLoss - market exit loss in pips
FixedTakeProfit - fixed take profit in pips
FixedStopLoss - fixed stop loss in pips
OscPer - the oscillator period on the M15 timeframe
OscLev - the entry overbought and oversold level on the M15 timeframe
OscPerHiTF - the oscillator period on the H1 and H4 timeframes
OscLevHiTF - the entry overbought and oversold level on the H1 and H4 timeframes
TrendFilterON - switches on and off the MA based trend filtration
MA1_Per – the period of the first moving average
MA2_Per – the period of the second moving average
Trade_StartHour - start trading hour
Trade_EndHour - end trading hour
FixedLots – fixed lots value of the initial trade
AutoMM – with values greater than zero activates the proportional automatic money management function – as an example the default value AutoMM=0.2 means that the initial trade will be 0.02 lots on $10000 account equity
AutoMM_Max – maximum allowed risk value
K_Mart - lot size multiplier for the first line additional trades
RecoveryProfit – exit profit in pips in case a recovery trade is opened
RecoveryAfter – minimum distance in pips between the first recovery trade and the previews additional trade
RecoveryTrades – maximum allowed number of recovery trades
RecoveryTradesDistance – minimum distance in pips between the recovery trades
RecoveryRiskMultiplier - lot size multiplier for the recovery trades
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