Flex Grid EA
- Experts
- Robots4Forex Ltd
- Version: 1.6
- Updated: 6 January 2020
The Flex Grid EA is a fully automated Expert Advisor that trades based on RSI. The EA trades using market orders with inivisible take profit and uses averaging to safely turn otherwise negative trades positive. This EA works best on EURUSD, USDJPY, EURUSD, USDCAD & GBPUSD using the M5 timeframe. A VPS is advisable when trading this system. Check the comments for back test results and optimized settings.
Please note: I have made the decision to give this EA away and many more for free with limited support so that I can concentrate on Custom EA. If you wish to use this EA it will need optimising, and if you feel like sharing your settings please do so in the comments.
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Monitoring Signals - https://www.mql5.com/en/signals/author/robots4forex?orderby=gain
Features
- Fully automated
- Not sensitive to spread
- Always a stop loss in place
- Invisible take profit
- Hedge accounts only
- All you need is a VPS
Input Settings
Order Settings
- MagicOrderNumber - Unique number for the EA to identify its trades. Any integer.
- Lots - Number of lots for the first trade in a group. Values from 0.01 to 50.0.
- Slippage - Slippage in pips. Values from 1 to 10.
- StartLotBasedOnBalance - If enabled lots are increased based on the account balance, true/false.
- StartLotBalance - Account balance per lot increase. Values 200 to 2000.
- AllowNewTrades - Turn this of to disable new trade groups, true/false.
- PositionComment - Allows you to set the position comment.
- CloseAllButtons - If enabled displays buttons on the chart to close all buy/sell positions, true/false.
Entry Settings
- TimeFrame - Timeframe drop-down selection to lock EA to a timeframe so that selection of the chart timeframe doesn't affect the EA. When testing ensure the tester timeframe is set to the same value.
- MaxSpread - Maximum spread in pips that the EA will trade. Values from 1.0 to 10.0.
- TakeProfit - The invisible take profit. Values from 2 to 20 depending on the pair being traded.
- StopLoss - The fixed stop loss - Values 25 to 200 depending on the pair being traded.
- RSIPeriod - The RSI period used as entry signal - Values 1 to 40.
- MAPeriod - The RSI Average period used as entry signal - Values 1 to 200.
- AveragingGap - The negative move in pips against the current trade group to trigger the next averaging trade. Values 5 to 100.
- AveragingLotMultiplier - The lot multiplier when opening a new position in the basket, setting to 1.0 disables. Values 1.0 to 2.0.
- AveragingLotAddition - The lot addition when opening a new position in the basket, setting to 0.0 disables. Values 0.0 to 1.0.
- TakeProfitStaging - If enabled take profit is reduced depending on the number of positions open, true/false.
- TakeProfitStaging1PositionCnt - Number of positions before stage 1 take profit is used. Values 1 to 20.
- TakeProfitStaging1TakeProfit - Take profit in pips for stage 1. Values 0 to 100.
- TakeProfitStaging2PositionCnt - Number of positions before stage 2 take profit is used. Values 1 to 20.
- TakeProfitStaging2TakeProfit - Take profit in pips for stage 2. Values 0 to 100.
- TakeProfitStaging3PositionCnt - Number of positions before stage 3 take profit is used. Values 1 to 20.
- TakeProfitStaging3TakeProfit - Take profit in pips for stage 3. Values 0 to 100.
- BreakEvenExit - If enabled performs a break even after position count reaches BreakEvenExitPositionCnt, true/false.
- BreakEvenExitPositionCnt - Number of positions before breakeven is performed. Values 1 to 20.
Optimization & Defaults
Default input values are for EURUSD M5. If optimizing, optimization of RSIPeriod, MAPeriod, TakeProfit, StopLoss and AveragingGap are needed to find the best results.
Very nice