Magic Grid is a grid Expert Advisor using no indicators. The strategy is based on automatic re-opening of profitable orders placed with a certain step from the very beginning of the EA operation. The robot trades on any timeframe and symbol. It can also trade several symbols with any amount of decimal places. It does not interfere with manual trading and other EAs' operation. The robot works only with its own orders displaying all necessary data on them when needed.
The Magic Grid info panel provides effective control over the EA's entire trading process in conjunction with notification system. The panel allows you to check the claimed amount of orders relative to their real market number. Depending on the situation, the EA provides a variety of reports on critical changes in its operation and errors. For example, it notifies of the number of restored orders in case some of them were triggered when the terminal was closed. It also alerts on exceeding the limit of maximum allowed orders, as well as on the fact that a pending order was not placed because of a price being too close, etc.
Besides, it often provides tips about what to do in a particular case.
The EA is not resource-consuming. All recalculations are performed only in the following cases:
- the EA has been restarted
- the EA settings have been changed
- symbol change
- timeframe change
- an order has been closed or a new one has appeared
Switching between timeframes can be used as a forced recalculation in case you have any doubts in the EA operation efficiency or you need to speed up any process, for example, if one of the pending orders is not placed at the very beginning because of a price being too close.
At first glance, the settings seem to be too numerous. However, they are quite simple and allow you to configure a grid with a required degree of flexibility.
- Buy First - initial price for buying (any value selected by a trader)
- Sell First - initial price for selling (any value selected by a trader)
- Quantity BuyUP from Buy First - number of Buy orders up from the initial price (can be zero)
- Quantity BuyDOWN from Buy First - number of Buy orders down from the initial price (can be zero)
- Quantity SellUP from Sell First - number of Sell orders up from the initial price (can be zero)
- Quantity SellDOWN from Sell First - number of Sell orders down from the initial price (can be zero)
- Step - grid step between same-type orders (in points of a selected pair)
- Take profit - take profit for each order of the EA (can be zero)
- Stop loss - stop loss for each order of the EA (can be zero)
- Lot - lot size for each order of the EA
- Magic number - any figures allowing the EA to distinguish its own orders (should be changed if the EA is used on several pairs)
- Language - switching the EA language (English/Russian)
- Expert's comment - user comment for each order
- Dashboard -- display the info panel managing the amount of EA orders on the market
- Transparency of the dashboard - Dashboard transparency (better to disable if "Chart on foreground" is selected in the chart settings)
- Debugging - required for more detailed error report in the EA operation when necessary
When testing the EA in the strategy tester, consider the maximum number of orders allowed by a certain broker. If the value is exceeded, not a single order is placed!
All missed ticks reduce the EA efficiency, since its operation is based on volatility. The lower the volatility, the lesser the probability to fix a potential profit.