Grid Reaper EA
The Grid Reaper EA is a flexible tool for those who use grid strategies. This semi-automated EA offers many user defined options to enhance your grid strategy. This EA is not a "set and forget" style robot...it is up to the trader to decide when to best use this tool and maximize potential profits from prolonged moves. Grid trading is not for everyone, but can be extremely lucrative if managed carefully. Analysis is still required prior to activating the grid, and money management is always a must.
In order to use the Grid Reaper EA, attach it to any chart as you would any other EA, choose your desired parameters (grid spacing, long/short only, trailing stops, etc...), wait for your strategy signal, then move your respective zone (double click the zone box to move/resize) for the EA to trade within.
Zones are defined as areas where trades(market orders) are allowed to happen. They are the green box (longs) and red box (shorts)...only their trade types may trigger within their respective zone. Both can overlap in order to hedge if your broker allows it. A "CloseBuyLine" and "CloseSellLine" are also available. These will close all their open orders once price crosses those lines. These interactive objects can be used within the Strategy Tester in order to open and close orders manually. This can be very useful for testing your own manual strategies within the Strategy Tester environment. If a single order of a specific type is desired, a trader can resize the zone box to make it very narrow and widen the grid spacing to beyond the zone box.
An EA status report is also included on the upper-left of the chart. This will show if the grid is active, # of lots open, current profit/DD, etc...
- MagicNumber – Select an individual number for each chart the Grid Reaper EA is on. This can also be used for trailing / TP (CloseByLine) orders made by other EAs (use their order Magic#) or a manual order (use Magic# of 0).
- PositionSize – The EA can trade any sized position within the limits of what your broker allows.
- GridSpacing – In POINTS, not pips.
- ActivateGrid – Turn the EA on/off.
- Long/ShortTrades – Allow these types of trades.
- ShowClosingLine/ShowText – Turn on/off.
- CloseByLine – Close orders when price reaches their respective line.
- AutoSLTP – Turn on auto stoploss and take profit for each trade (individual).
- SL_Pip – Stoploss amount in POINTS.
- RR_Multiplyer – Multiply this number with your SL_Pip to set Take profit (decimals are allowed).
- TrailByPip – Turn on/off this trailing function.
- Trail – Amount to trail by POINTS.
- TrailByATR – Turn on/off this trailing function.
- PercentOfATR – Multiply this number to the Daily (14) ATR to trail with.
- TrailByMovingAverage – Turn on/off this trailing function.
- MATimeFrame – Set the TF (Daily default).
- MAPeriod – Set the Period (50 default).
- MAType – Set the type of MA (Exp default).
- CloseOnPercent – Turn on/off this order closing function.
- Percent_ProfitTarget – Once grid profit hits this percentage of current balance, all orders will be closed.
Best of luck to all, and happy trading.