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Pyrogrid

Overview

Pyrogrid is an expert advisor that you either use as fully automated or to combine it with a trade from an existing trade (Market Order or Pending Order) that has been opened either manually or by another EA. The way this EA works is to apply Pyramid strategy whenever the market is in your favor and apply grid strategy whenever the market is against you.When auto-trading is set to true the EA will open trades counter trend when the market reaches extremes (Using RSI).


Pyramid

If the market is moving in the same direction as your first trade Pyrogrid EA will then be opening more trades (with the use of Stop Orders) to increase your profits.

After the 3 trades has been opened the EA will be shifting the stop loss of all the trades to the previously opened trade. In this way you will be guaranteed a break even stop under 3 trades with that stop loss point and your can expect profit increases as more pyramid trades get opened.


Grid

If the market is moving against you Pyrogrid EA will be opening more trades (with the use of Limit Orders) each trade being a multiple of the previously opened trade.

The trade will all close together once a combined profit in amount or the the average number of pips won reaches a predetermined level


Graphics

  • Blue line: Shows the average open price of all trades
  • Red line: Shows the stop loss price of all trades
  • Yellow line: Shows the take profit target of the trades


Using the EA

Manual trades: (Market Orders or Pending Orders)

It is recommended to use the EA in this way

  • Place the EA on the chart of the instrument your will trade.
  • Adjust the grid and pyramid settings
  • Set use_external_manual_trade to true
  • Do not apply to the same currency more than once if you will use manual trades

With another EA:

  • Place both EAs in charts of the same instrument to be traded
  • Adjust the grid and pyramid settings
  • Set use_external_manual_trade to true
  • Ensure both EAs are using the same magic number
  • The external EA should not open additional trades, close trades,modify stop loss/take profit

Full Auto:

  • Place the EA on the chart of the instrument you will trade.
  • Adjust the grid and pyramid settings.
  • Set auto_trading to true.
  • The EA will open trades counter to the trend when market is extreme.

(Buy when 14 Period RSI closes bellow 30 and sell when 14 Period RSI closes Above 70)


Notes

  • Multiple Pending Orders with the same magic number can be placed and they will get deleted once the first trade is triggered.
  • The EA can be used more than once in the same instrument provided a new chart is used with a different magic number. Does not apply for manual market trades.
  • Experiment with the grid/pyramid settings using various settings according to instrument, market condition, targets, entry strategy.
  • Exercise caution when using this EA as grid strategies can be risky


Settings

  • pyramid_trades_gap: How many pips away (in profit) the next trade to be placed
  • max_pyramid_trades: Number of additional trades (profitable) to be placed.
  • grid_trade_gap: How many pips away (in loss) the next grid trade to be placed
  • multiplier: How many times larger compared to the previous trade the next grid trade will be
  • minutes_between_trades: Delay in opening the next grid trade
  • profit_calculation: How will the combined profits for grid trades will be calculated. 0:average pips, 1:exact amount
  • net_take_profit_pips: If profit calculation is 0, trades will close if that much average pips have been won.
  • net_take_profit_amount: If profit calculation is 1, trades will close if that much amount has been won.
  • Max_Orders : Maximum allowed number of trades
  • enable_max_loss: Close all trades once a max floating loss has been reached
  • max_loss_percent: Percentage of the balance to be lost for all trades to close
  • fixed_spread: Set to true to assume the spread is fixed
  • spread: Spread in pips if fixed_spread is true
  • commission_in_pips: If the broker charges commission the amount in pips
  • use_external_ea: Set to true to use this EA with a trade opened by another EA.
  • use_external_manual_trade: Set to true to use this EA with a manually opened trade.
  • auto_trading: Set to true to place auto trades using RSI
  • Lot : Lot size of first trade
  • Auto_Lot: Set to true to have the Lot Size be calculated as percentage of balance
  • Lot_Percents: When Auto Lot is true
  • Magic : EA magic number
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Version 2.0 - 2015.10.14
- Added option for closing trades on Fridays