Description of settings for my grid robots

Description of settings for my grid robots

15 May 2023, 21:47
Aliaksandr Charkes
1 793

General information of ALL settings

(this section may be progressively refined)

All Expert Advisors with the word "Grid" in their name have some basic functionality, which expands as the EA gets more expensive. That is, the more expensive an EA is, the more functionality it has, and the more strategies it can implement. 

This documentation is common to all my grid advisors (except Alpha Grid MT5) and describes most of their differences. Alpha Grid MT5 has conceptual differences in its grid settings and therefore a separate section has been created for this advisor with a description of its capabilities.

At the moment, the hierarchy of EAs is as follows:

Magic Grid MT4  >>  User Grid MT4  >>  Elastic Grid MT4 

Magic Grid MT5  >>  User Grid MT5  >>  Elastic Grid MT5  >>  Master Grid MT5   >>  Alpha Grid MT5

There are a lot of settings, but it's not as complicated as it sounds. The main thing is to understand what you personally want, rather than trying to adjust to what is available by default. 

All settings are divided into separate groups, and each of these groups can be configured independently of the others. That said, for some of them, all incoming functionality can be enabled or disabled on a single line.  

The more settings, the more strategies the Expert Advisor can implement. Moreover, different strategies can be combined with each other, which enables timely adjustment of the Expert Advisor to the current market situation.

Useful information: 
Unfortunately, it is not yet technically possible to sort the input parameters of an EA into thematic roll-out lists. But it is possible to use ready sets of settings, editing and saving them in one file for the future. You can read more about how it works here >>

How to select settings:

There are no Expert Advisors that will always automatically earn for you by default. The settings can be successful for a while, but if you apply them thoughtlessly and for any situation, then one fine day you can drain the entire deposit very quickly... sometimes in a matter of minutes.

A trader who has matured in order to meaningfully use automated trading must definitely learn how to use a strategy tester. It is this feature that allows you to most accurately select settings for predicted situations.

Note: My robots are well optimized to work in the tester, but if speed is really a priority, you need to turn off the display of graphic elements in them. 

At the same time, in the tester settings in the < Modeling > parameter field, it is better to use the < Open Prices Only > in combination with the timeframe of the chosen accuracy (for example, M5). At the same time, you can choose higher timeframes for optimization, which will reduce the accuracy of testing, but will significantly speed up the process.

The settings are not transferred to any separate panels just so that they remain available in the strategy tester.

It is not recommended to test the advisor in the advisor tester simultaneously with the operation of the advisor in real time on any chart. In this case, the work of the advisor in the tester can affect the work of the advisor on the chart. To avoid this, it is best to use another copy of the entire terminal (both terminals can be launched simultaneously with different accounts).

Additional Notes:
  • The default settings in any of my EAs are NOT the best settings! These settings are just for placing the Expert Advisor on the MQL5 marketplace, taking into account the specified restrictions!

  • Do not forget that for each of the Expert Advisors there are separate descriptions, in which, among other things, you can find various videos demonstrating their technical capabilities. In this case, there can be several videos. See full descriptions!

  • Before using the selected adviser on a real account, it is recommended to practice with its settings on a demo account in order to get a good idea of its reaction to various interventions and not get confused later with it during real trading.

  • None of my advisors are designed to work simultaneously on different devices. In some cases this is possible, but most of the functionality depends on various data that is stored directly in the terminal where the advisor was launched. That is, when you launch the advisor on some other device, some data may be reset. To avoid this, it is best to copy the entire terminal to another device.

  • I try to make any settings intuitive and the dashboards should help a lot. But if you have questions about them, please ask them in general discussions so that incomprehensible points are clarified immediately for everyone. If I don’t answer in discussions (maybe I just don’t notice), then write in private messages.

  • The information capabilities of EAs can be used not only for their grid strategies, but also for manual trading, and in some cases for controlling the work of other EAs.