Pending grid system - page 3
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
I dont understand how to put this script into chart. It doesnt work for me. When I put it it says that script is loaded successfully but no pending orders at all, and than is says that uninit reason 0 and than that the script is removed. How to get it working?
I dont understand how to put this script into chart. It doesnt work for me. When I put it it says that script is loaded successfully but no pending orders at all, and than is says that uninit reason 0 and than that the script is removed. How to get it working?
1. Make sure you have put the script in the /expert advisor/scripts folder. Not directly in expert advisor folder.
2. Make sure you input data on variables according. If for example you have actual price on GBPJPY in 193.00, you put on the script "level"=25 (minimum distance from the price to the first group of trades in this case is 193.25 abd 192.75), and you put upperlimitlevel 193.20, this isn't going to open trades because upperlimitlevel is under the limit. Remember, "Level" is in pips, the other upper and lower limits are in price.
3. If still not work, when you put the srcipt, read the experts messages, in the "experts" tab on Metatrader. This may indicate the error.
Results 'till september 30th
Here are the results until september 30th. Best results are with few trades: 3 for group 1 and 2 or 3 for group two. Even better if you put trailing stop to the far ones. I'm working with 0.01 and 0.02 lots. Not bad if you look that last 10 days were very choppy some days.
Results 'till october 3th
Good morning.
Unaffortunately, demo accounts were reseted because end of month.
Here are the results for first days of october, including NFP news.
the EA Script
I dont understand the EA Script either,what it is and what it is for? it is very confusing.
First at all, it's not an EA. It's a script. It simply saves time in putting many pending orders, instead of putting them manually. Read carefully first post and you'll understand.
By the way, you can put manually just two pending orders manually, it's one of the most profitable systems I'm worked on. Same rules described on first post, try on many pairs. But I get sometimes greedy
, that's why I'm trying this multiple system.
If you still have questions, feel free to write here.
Good day to everyone.
I want to share a system I'm working on.
Generally, before European open (7:00 GMT) the forex market is slow, let's say before 5:00 GMT. Then it increases movement, and normally most pairs are going up or down, most times only one way, specially when news are released.
Well, this system is based on put pending orders around 4:00 GMT with a MT4 script, above (buys) and below (sells) the actual price when the market is still slow. The minimum distance from actual price to the first pending order is indicated in the script as "LevelDistance". This way we let enough space for market noise until it finally goes up or down.
The pending orders are putted in two groups: the first group is the closest to the market price, and it has a bigger lot size (for instance 0.02 lots, with a microlots account). each pending order is an amount of pips (for instance 5 pips) away from each other ("gridspacing" in the script). I'm actually using TP 40 and SL 80 for this group.
The second group has smaller lot size (for instance 0.01 lots), and it beguins from the limit ("gridupperlimit" and "gridlowerlimit" in the script) where the first group ended, until the second limit indicated in the script ("gridupperlimit2" and "gridlowerlimit2"). I'm using TP 30, SL 60 in this second group.
In that way, it forms a grid of buys and sells, and the closest ones to the price, that actually have more chance to get the TP, are bigger.
CONDITIONS:
: Activate script approximately at 4:00 GMT. Put your variables, and go sleep.
: Use pairs with a wide daily range movement specially in European session, such as EURJPY, GBPUSD, GBPJPY. I search pairs that have recently at least 120 pips of average daily range. I attach the TSR daily range indicator, very useful to watch this.
: Watch if there are news for those pairs in european session. We need large movements for this system. If there is no significant news, don't trade or reduce the number of pending orders.
:Watch close support and resistance points before put your limits, having in mind your TPs.
: Don't matter if a pair is going up or down!. Just reduce one way or another if the pair is overbought / oversold.
: You can put trailing stops, specially on the second group, in that case you can wide your TP.
: You can use it too in any news, like NFP. Just assure if your broker respects the prices, and how the spread widens.
: I recommend to use this system with a microlot account. I use it in many pairs at once, or I can increase microlot size.
: It uses Expiration hour ("horas_expira"), I normally use 6 hours, depends on news releases. Sometimes I wake up at 9:00 GMT (I'm in Colombia, at that hour I'm sleeping), I close profit trades and erase the pending ones, or I put a trailing stop to them.
: Use it first on demo!!!. A month is recommended.
Put script "Pending_grid_multiple_1.0.mq4" in the ...\experts\scripts folder in your MT4 directory
Put indicator "(T_S_R)range2 .mq4 " in the ...\experts\indicators folder in your MT4 directory
Any improvements, questions, settings, etc. are welcome. I'm going to upload updates here in the first post, if there are any.
I'm not a programmer yet, I'm trying to learn. I have taken and messed this script from other scripts (like pending_orders from metaquotes, and another I don't remember where it came from), and modified it. If you see any error, you are welcome to tell me.
Good trading to all.
MarcelHi marcelcorzo,
Can we have some programmer to amend this Grid EA with Selllimit, buylimit pending order instead of Buystop and sellstop order? Thanks
I'm a little bit busy right now , let me check by the weekend. I'm just learning mql programming, but I'll do my best try.
I think you just need to change OP_BUYSTOP to OP_BUYLIMIT, but I'm not checked well thow the EA works, may be you need to switch both Ordersend (instead OP_BUYSTOP use OP_BUYLIMIT), because for example if you want to pending trade above the price you only can put buystop or sellimit and viceversa.