This EA is based on placing both buy and sell orders using the grid trading principle, which is based on usage of the martingale rules.
It trading principle is that it opens a new order with an increased lot once a trade becomes unprofitable, and the more unprofitable the trade is, the more new orders are opened. This EA works in both directions, that is when it receives a signal, it can open the first trade, either buy or sell. This allows for a substantial mitigation of risks.
An important rule of working with such Expert Advisors is periodical profit withdrawal.
It is recommended to use the EA on the GBPUSD symbol, 1 minute timeframe.
- ShowTradeComment - (TRUE) - if true, the information of the EA operation will be displayed on the chart, if false - the information is not displayed
- Lots - (0,01) - the volume of the first order in the series;
- MultiLotsFactor - (1.6) - coefficient to multiply the lot of each subsequent order of the series;
- StepLots - (15) - the number of points which the price should pass against the open order for the EA to activate the next order in the series;
- TakeProfit - (23) - take profit size in points;
- UseTrailing - (false) - activate trailing stop;
- TrailStart - (38) - the minimum profit to be taken once the trailing stop is activated;
- TrailStop - (18) - trailing stop size;
- MaxOpenOrders - (7) - the maximum allowed number of orders in the series;
- SafeEquityStopOut - enable/disable the function of closing all positions in case the equity size falls below the value specified in the next parameter;
- SafeEquityRisk - (30) - percentage of the account equity, which can be used by the robot for opening its orders. Its trades will be closed, if the equity size reaches a smaller value and the previous parameter is set to True;
- Slippage - allowed slippage;
- MagicNumber - the unique number of the EA that allows it to distinguish its trades;
- Freeze After TP - if the parameter is activated, the grid EA will stop trading as soon as the specified take profit is reached.
To maximize the effectiveness of the robot, you need to constantly withdraw the profit, preserving the recommended size of the deposit: for cent accounts it is $250 with a minimum trading lot of 0.01 and $2,500 for a cent account with a minimum trading lot for opening trades of 0.1.