Reverse Grid Martingale

Job finished

Execution time 6 days
Feedback from customer
The work was excellent and EA performs exactly as requested. Changes were made quickly without any problems. Delivery was a little late but well worth the wait. Thank you!
Feedback from employee
Thank you for the detailed requirements and quick review of the EA. I look forward to our continued cooperation!

Specification



A common trading strategy is the grid martingale strategy where after a trade is placed and price moves against it additional and larger trades are opened until price pulls back and all open trades are closed for profit. 

The EA I require is the reverse of this so it is a simple Reverse Grid Martingale EA.  After a trade is placed if price moves in favor of the open trade then additional and larger trades are placed.  Losses are controlled with a trailing stop and take profit is set value.

This is a very simple concept and basic EA however I am unable to locate this on MQL5 Market.  If you are aware of one already available please let me know.

  1. Grid Trading in Both Directions:
    • The EA has no indicators and triggers immediately once placed on a chart so there is always a minimum of 1 long trade and 1 short trade open
    • The EA maintains separate long and short grids simultaneously
    • Input [Magic Number]
  2. Grid Level Management:
    • Opens initial positions when no trades exist in a direction [Initial Lot Size - Lots]
    • Adds to positions at user-defined intervals [Grid Minimum Distance - Pips]
    • Grid intervals can be increased / decreased as more are added [Grid Multiplier]
    • Increases lot size by user-defined multiplier for each new grid level [Lot size Multiplier]
  3. Trailing Stop Loss:
    • Places a Stop Loss for the first grid [Initial Stop Loss]
    • As soon as more than 1 grid is active the Stop Loss is calculated by average price of all positions in a grid to be either profit above break even or loss below break even.  This is based on Total Lots being traded. This is a variable so it can be a negative value resulting in small losses each time a grid closes before hitting take profit or a positive value resulting in small profits each time a grid closes before hitting take profit [Trailing Profit]
  4. Take Profit:
    • Fixed take profit based on grid level 1 entry price.  When it hits all grid levels close [Take Profit]
    • Applies to all positions in the grid which means the price set for the take profit of grid level 1 is the same price set for grid level 2. eg Grid level 1 has TP of +100 and Grid Level 2 opens +10 pips.  The TP of Grid Level 2 will be +90.
  5. Position Management:
    • Closes all positions in a grid when any position hits stop loss or hits take profit
    • Resets grid level after closure immediately
  6. Time Management:
    • Enable Time Filter [On / Off]
    • The EA trades on set days [Monday / Tuesday / Wednesday / Thursday / Friday / Saturday / Sunday]
    • The EA trades at set times [Start Hour / Start Minute] and [End Hour / End Minute]
  7. General:
    • This EA only processes at the start of new bars - open price.  This is so I do not get banned from Brokers Server with excessive number of messages being sent on tick
    • This EA must be able to trade Forex, Metals, Indicies, Major Crypto
    • This EA is to be fully automatic running without input after placing on a chart
    • This EA must work on 4 or 5 digit brokers
    • This EA must work without error

 


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