Experts: XP Forex Trade Manager Grid MT4


XP Forex Trade Manager Grid MT4:

Forex Trade Manager Grid MT4 helps you to managing orders and achieve the goal. You only need to place first order with Take Profit, run EA and set in params profit (pips) you want to get. EA will be managing your positions, as will gather appointed number of pips. It’s a strategy for management of manual trades opened on current pair. The strategy adds positions to currently opened trades in a grid management (with chosen distance in pips between trades) - up to 15 trades (or less). First up to 3 trades are managed with individual take profits, after 4th trade the EA close whole grid on common level (break-even). After closing the trade on TP, it can be renewed. Whole cycle can be closed if loss is bigger than allowed risk balance percentage.

XP Forex Trade Manager Grid MT4

Author: Marzena Maria Szmit

Marzena Maria Szmit  

A brief description of how this manager works:

Open first position manually with TP.

AddNewTradeAfter – distance in pips from last trade after which trades are added to the grid
= 50 pips you can change it, so every 50 pips EA add additional positions, if you a have opened BUY EURUSD 1.08500 and the price will drop by 50 pips to 1.08000 then the EA will open second positions and set TakeProfit 2 for the second position.

TakeProfit1Total (number) – total TP in pips required from first position
= 150 pips you can change it and all the parameters. So this 150 pips is your that's your goal of the entire grid, but it counts only from 1 position, so it has to close your 1 position and then it will count the number of pips, then EA wait 3 pips and re-open the position in the same direction as you had before and so on up to this goal 150 pips.

TakeProfit1Partitive – initial TP in pips for the first position in cycle
= 10 pips, that is, if the price goes in the right direction, i.e. towards your position, it will be divided into parts of 10 pips and so on until the target of the 150 pips I mentioned earlier.

TakeProfit1Offset – minimum distance in pips from take profit of last closed first position required to renew this first trade
= 3 pips after closing 1 position on 10 pips, the EA waits for a movement of 3 pips and opens a new position again

TakeProfit 2/3 – individual TP in pips for the second/third position in cycle
= 40 pips and 50 pips, TakeProfit 2 and Take Profit 3 are set separately and close when profit is made 40 and 50 pips

TakeProfit 4/5/6/…15Total – total TP in pips from all positions in cycle (for 4 or more trades opened)
= This is the total TP that closes the entire grid on the designated profit, e.g. in this case with 4 open positions it is +60 pips and so on, you can change any parameter.


MaxOrders – maximum allowed number of trades in grid
Maximum 15 positions per pairs

Risk Balance % – maximum allowed loss as percentage of the account balance (closes all opened positions)

Lots – lot size for trades opened by the EA

Slippage – allowed slippage in points

Best Regards

Marzena Maria Szmit  
Muhammad Syamil Bin Abdullah #:
Thanks for sharing. Very useful.
You are welcome👍📊