The EA uses netting system of position accounting (one symbol can have only one position). For testing is necessary to choose an account without hedging. Also, consider this fact when opening an account for live trading.
The expert determines the entry point using a conventional moving average. After determining the working direction it places an order in the corresponding direction, and four pending orders, two above and two below the price. Thus, it forms a grid of pending orders. When one of the orders triggers, a new pending order will be placed according to the specified algorithm. The number of pending orders remains constant, two orders above and below the price. The series is closed once it reaches the specified profit (MinProfitClose). Or when it closes according to the specified algorithm.
The program also takes the news calendar into account: the robot does not enter the market in a 10-minute interval before and after a news release and does not trade at night from 10 p.m. to 4 a.m. (server time). There is also an overbought/oversold filter based on RSI.
The EA requires settings, therefore, for live trading it is necessary to update the settings using a re-optimization from time to time.
- NameSetting - name of the setting (for convenience);
- Comments - order comment (optional);
- LotDigits - The number of decimal places in the lot size step (2 - min step: 0.01; 1 - min step: 0.1; 0 - min step: 1.0);
- Lot - allows to directly set the lot size;
- Deviation - price slippage;
- StepGrid - grid step;
- OrdersToSub - maximum number of orders after which the position is closed;
- OrdersToStep - coefficient for correction of order step;
- PercentToStep - strength of correction coefficient effect as a percentage;
- MinProfitClose - sufficient profit for closing;
- Degression - multiplier that allows gradual closure in a loss during drawdowns;
- Close_23_59 - force close all positions at the end of day;
- MA_TF - timeframe of the moving average;
- MA_Period - period of the moving average;
- MA_Method - method of the moving average;
- MA_AppliedPrice - price used to plot the moving average;
- MA_Inversion - inversion of entry direction;