Magic Grid MT5
- Experts
- Aliaksandr Charkes
- Version: 1.90
- Updated: 18 October 2024
- Activations: 10
Magic Grid MT5 is a non-indicator Expert Advisor using a grid strategy (on a hedging account). The strategy is based on automatic reopening of grid pending orders, after closing their market positions (by Take-Profit, Stop-Loss or manually). Pending orders are placed with a specified step from the initial prices, which can be entered manually or generated automatically (once at the beginning of the trade). The robot can trade on any timeframe, on any currency pair, on several currency pairs, on any number of signs. It does not interfere with manual trading or trading of other advisors. It works only with its own orders and provides all the necessary information about them as needed.
The Magic Grid dashboard, in conjunction with a system of various alerts, provides reliable control over the entire trade of the Expert Advisor. Using the panel itself, you can always check the declared number of orders and positions in relation to their actual market number. Depending on the situation, the advisor issues various reports about any important changes in its work or about errors that have occurred. For example, notifications are issued about the number of restored orders, if any of positions were closed at the time when the terminal was turned off, about exceeding the maximum allowed number of orders, about the fact that a pending order was not placed due to a too close price, etc. etc.
Settings
- Initial price for BUY orders - Initial price for creating a grid with BUY orders If the value is equal to 0, this price will be automatically selected. In this case, this price will be considered the starting price until the trade is finished or a value is manually set for it. The automatic selection is based on the values of the minimum allowed deviations (from the current market prices) for pending orders (at the start of trading).
- Quantity of BuyUP price levels from Initial Price - number of Buy orders up from the initial price (can be zero)
- Quantity of BuyDOWN price levels from Initial Price - number of Buy orders down from the initial price (can be zero)
- Grid Step for BUY orders - grid step between Buy orders for the current grid (calculated in points of the selected pair)
- Take-Profit for each BUY order - Take-Profit value for each Buy order of the current grid (calculated in points, can be zero)
- Stop-Loss for each BUY order - Stop-Loss value for each Buy order of the current grid (calculated in points, can be zero)
- Lot size for each BUY order - lot size for each pending BUY order of the current grid
- Restore BUY orders after closing their market positions - ability to disable auto-restore Buy grid orders
- The settings for the Sell Grid are identical to the settings for the Buy Grid
- Enable Top Panel - turning on the top information panel
- Top Panel scale - top panel scale
- Text color - top panel text color
- Background color - top panel background
- Magic number for all expert's orders - any group of numbers (no more than 9) The magic number is used to separate EA orders from any other orders. It is also important to change this number when using the advisor on different currency pairs simultaneously, or on the same currency pair, but with different settings.
- Comments for EA orders - user comment for each order of the Expert Advisor (not more than 5 characters)
- Language - EA language switch (mostly English is used)
Testing
When testing an Expert Advisor in the Strategy Tester, you should take into account the limitation on the maximum number of orders for the selected broker. If it is exceeded, the EA will not place a single order!
All missed ticks only reduce the effectiveness of the advisor, because its work is based on volatility, and the lower it is, the less likely it is to fix possible profit.
Additional Information:
Answers to the most popular questions... >>
Detailed description of the settings... >>
p.s. Additional video here... >>
a game-changer! thank you.