This is a fully automated Expert Advisor. No manual trading is suggested. All screenshots belong to backtests with EURUSD M1 and M5 timeframes.
Grid Scalper is based on three main steps: Open a new order, Hedge if needed, Take profit.
- Open new order: Grid Scalper uses the MACD indicator to open the first order.
- Hedge: After opening a new position, if the trend goes up, Grid Scalper begins opening long positions, and if the trend goes down, the Grid Scalper begins opening short positions. The Fallen parameter defines the grid limits, and the predefined value is suggested.
- Take Profit: Grid Scalper closes all orders if the predefined profit is reached. The TakeProfit parameter defines the profit amount to close orders, and the predefined value is suggested.
- EA Settings: Use the default parameters except MaxLevel and MaxSpread. MaxLevel should be set above 30. If your broker does not allow opening multiple orders, scalping and hedging, please do not use this EA. MaxSpread should be below 10, otherwise the EA may work wrong.
- Symbol: EURUSD is suggested.
- Timeframe: M1 is suggested but also the other timeframes with low spreads can be chosen.
- Brokers: ECN brokers, low spread/commission, 1:400 leverage, non-FIFO or FIFO.
- Trading Condition: Ranging.
- Minimum Deposit: $200 for micro lot accounts. If you are not using a micro lot account, consider minimum deposit $2000 or higher. For example, if your allowed minimum lot is 0.01, then the minimum deposit is $200; if the minimum lot is 0.10, then the minimum deposit should be $2000.
- Lots - Initial volume to open positions. For each $200 deposit, lot can be increased 1. If you are not using a micro lot account, increment should be implemented for each $2000 or more.
- MACDOpenLevel - The parameter is used for generating signals to open positions. Predefined value is suggested.
- MACDTrendPeriod - The parameter is used for generating signals to open positions. Predefined value is suggested.
- TakeProfit - Take profit value for each order.
- Fallen - To open a new hedging position, this parameter defines the separation between positions when the trend goes up or down.
- MaxLevel - The maximum number of the positions to limit the loses. This parameter should be set above 30.
- MaxSpread - Limits to open new positions with high spread symbols.