OFT Grid Pending EA
- Experts
- Version: 1.13
This Expert Advisor (EA) is an advanced, highly customizable grid-trading system designed for MetaTrader 5. Rather than entering at market price, it strictly utilizes pending orders to capture volatility breakouts or mean reversions, wrapping the strategy in robust risk management and a polished user interface.
Core Trading Engine
The EA operates on a pending-order grid system, entirely avoiding instant market execution.
- Grid Modes: It can operate in two distinct modes:
- Breakout: Places Buy Stop and Sell Stop orders above and below the current price.
- Reversion: Places Buy Limit and Sell Limit orders, anticipating price to bounce back after reaching the grid levels.
- Grid Spacing: The closest pending orders are placed a specific distance from the current price (default 100 pips), with subsequent orders spaced evenly beyond that (default 350 pips).
- Order Limits: It places a defined maximum number of pending orders on both the Buy and Sell sides simultaneously (default 35 per side).
Money & Risk Management
The EA includes multiple layers of account protection to prevent the catastrophic drawdowns typically associated with grid trading.
- Dynamic Lot Sizing: You can trade with a fixed manual lot size (e.g., 0.01) or switch to Auto-Lot. The auto-lot calculates position size based on a predefined percentage of your account equity and a theoretical worst-case grid distance.
- Hard Equity Protection: A master failsafe constantly monitors peak account equity. If the floating drawdown reaches a user-defined threshold (default 10%), the EA instantly closes all open positions, deletes all pending orders, and halts trading entirely until you manually click the "RESET" button on the dashboard.
- High Trade Count Failsafe: If the market trends strongly and opens too many grid levels (default 7 trades), the EA suspends standard trailing stops. Instead, it aims for a rapid, flat monetary profit target (e.g., $2.00) to quickly collapse the risky grid and flatten the exposure.
Profit Extraction & Trailing
Instead of rigid Take Profit levels, the EA uses a flexible profit-locking and trailing system.
- Profit Lock & Trail: Once floating profit reaches a specific pip-equivalent value, the EA locks in the baseline profit. As the price continues in your favor, the trailing stop steps up incrementally.
- Combined vs. Independent Tracking: You can choose to trail the Buy and Sell baskets entirely independently, or track the net combined profit of both sides together to close the entire cycle at a net gain.
Smart Cycle Re-arming
Once a grid closes in profit, the EA does not blindly place a new grid immediately. It enters a "Waiting Phase" and looks for specific market conditions to trigger the next cycle:
- Candle Close: Waits for the start of a new candle.
- Bollinger Bands (BB): Can trigger when a candle closes outside the BB, or the moment the live price breaks the BB.
- RSI Extremes: Waits for the RSI to reach overbought (>70) or oversold (<30) territories.
- Custom RSI Ranges: A highly specific trigger that waits for the RSI to enter custom micro-bands (e.g., 60-63 or 33-40) before re-arming.
User Interface & Aesthetics
The EA features a sophisticated, draggable on-chart UI that completely removes the need to constantly check the MT5 terminal's "Toolbox" tab.
- Interactive Dashboard: Displays account balance, equity, live drawdown percentage, current lot sizing mode, open positions, pending orders, trailing status, and real-time indicator signals (MA trend and RSI status).
- Quick Action Buttons: Includes on-chart buttons to "Close All" trades, "Force New Cycle," or "Reset Equity Protection Halt."
- Theme Engine: A separate docked Theme Box allows you to cycle through 10 distinct UI themes (5 dark, 5 light) directly on the chart. Changing the theme dynamically recolors both the dashboard UI and the actual MT5 chart background and candles to match.
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