Fill The Gap Grid
- Experts
- Biswarup Banerjee
- Version: 3.0
- Updated: 15 February 2023
- Activations: 20
Fill The Gap Grid MT4 is a MetaTrader 4 utility Expert Advisor that manages trades using a pure grid strategy based on price levels. This EA automates the placement and maintenance of a grid of buy and sell orders, filling gaps with pending orders as trades hit take-profit levels, ensuring continuous trade management across configured price levels without relying on market logic.
You can find the Detailed Documentation and Input Walkthrough here: Detailed Documentation
Strategy Overview:
The EA employs a grid-based approach by placing six initial orders at predefined price levels relative to the current market price:
- Buy: At the current price.
- Sell: At the current price.
- BuyStop: At the current price plus a configurable pip distance.
- SellLimit: At the current price plus a configurable pip distance.
- BuyLimit: At the current price minus a configurable pip distance.
- SellStop: At the current price minus a configurable pip distance.
When an order hits its take-profit, the EA replaces it with a new pending order to maintain the grid. If a price level is reached, the EA checks for missing pending orders at upper and lower levels, placing them to ensure continuous coverage. This process repeats, keeping the grid active across all configured levels.
Features Overview:
- Configurable Pip Distance: Set the pip distance for BuyStop, SellLimit, BuyLimit, and SellStop orders to define the grid’s spacing.
- Upper and Lower Level Limits: Specify upper and lower price levels for buy and sell orders, restricting pending order types (e.g., only Buy or Sell) beyond these thresholds to control grid boundaries.
- Take-Profit Management: Define take-profit levels for each order, triggering the placement of new pending orders when profits are realized.
- Continuous Grid Maintenance: Automatically monitor and replenish missing pending orders at upper and lower price levels to sustain the grid structure.
Note: Fill The Gap Grid MT4 is a specialized trade management tool that automates a grid-based order system, requiring no market analysis for trade placement. Its continuous order placement can lead to significant exposure in trending or volatile markets, necessitating careful configuration of pip distances, level limits, and take-profit settings. Thorough testing in a demo environment is essential to align the EA with your risk tolerance and trading objectives, ensuring it operates effectively without excessive drawdowns.
Important Advice:
This is a professional trade management utility, not a predictive trading system. The grid strategy’s effectiveness depends on stable market conditions and precise configuration, as it can accumulate risk during strong trends. To ensure optimal use:
- Test thoroughly on a demo account before deploying on a live account to understand the grid’s behavior.
- Regularly review and adjust pip distances and level limits based on market conditions. Check the MQL5 Blog link above for the latest recommendations and setup guidelines.
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