This is a fully automated grid trading EA based on the Bollinger Bands indicator.
It covers loss-making deals by profitable ones. Virtual take profit and stop loss are used.
It can be used on any currency pair, requires optimization for currency pairs used.
Recommended timeframe - М15.
The default settings are configured for EURUSD.
A live monitoring of the Colibri can be found here: https://www.mql5.com/en/users/ildarvin/seller
Settings of the Expert Advisor
- Fix Lot - initial lot
- Auto lot - enable/disable fixed lot
- Risk% - risk percent per trade
- Min. Take Profit - minimal take profit in points
- Stop Loss for first order - stop loss in points for the first order
- StopLoss with % of drawdown - stop loss at the specified drawdown percentage
- Magic Number - number for the EA to recognize its own positions
- New Cycle - when enabled, the EA works non-stop, otherwise, the EA does not open new orders after a series of trades (enable/disable)
- Grid step - step between orders
- Next grid step order - the number of the trade after which grid step will be changed
- Next grid step, pips - the step of the grid
- Next grid step, multiplier - the number of the trade after which lot multiplier will be applied
- Multiplier - lot multiplier for the second and subsequent orders
- Use dynamic grid step - using dynamic grid sizing
- Calculation of the first step by volatility - calculating step value based on the volatility
- Amount of days for volatility calculation - the number of days used in the volatility calculation
- Multiplier for the first step - calculation of step to open the first order in the grid
- Overlap Order - enable/disable covering loss-making orders by the last one
- Overlap order number - order, from which the coverage by the last order starts working
- Overlap percent - profit percentage for order coverage
- Put value of take-profit to breakeven - close deals when breakeven is reached
- After what step to use the breakeven - after what deal closure upon breakeven should be applied
- Maximum buy orders - the maximum number of long orders
- Maximum sell orders - the maximum number of short orders
- Bollinger Bands Period - indicator settings
- Bollinger Bands Deviation - indicator settings
- IndicatorUse - disable indicator signals
- Friday deals close - closing trades on Friday
- Friday EA stop hour - stopping the EA on Friday
- Friday deals close - closing trades at the end of Friday. Trade without a grid is closed
- Friday Stop Loss - stop loss to close trades on Friday