A MT5 EA based on Grid and Mortingale

General setting of EA would look like as below:

• Name of EA: MZRAWR EA
• Grid line gap ………(from 0.001 to higher value)
• Martingale factor ………. (usually 2.00)
• DD ……% of the capital
• Lot size (can be set 0.01 to any higher value)
• Trade TP
• Trade SL 
• Cut-off SL
• News Filter (Enable/Disable)
• Pause time starts at ......... hr:min. (this function gets disabled if News Filter is set as "No")
• Pause time ends at  …….. hr:min (this function gets disabled if News Filter is set as "No")
• Trade Opening time ……..AM
• No Trade be opened after …….PM

EA can open upto 240 no. of trading modules. These trades are identified as Trading module no. 1, Trading module no. 2, Trading module no. 3, …………Trading module no. 240.

Trading module no. 1, for example, shall proceeds as follow;

Trade setting: Enabled/Disabled

If trade setting is Enabled, open 1X BUY (as the EA is launched) as per martingale sequence given as under;

"BUY SELL SELL BUY SELL BUY SELL BUY SELL BUY BUY SELL BUY"

Price moves in either direction, if it is favorable and reaches next grid line (grid line gap defined in General setting), TP executed, trading cycle closed and new trading cycle initiated. On the contrary, if prices moves against the trade and reaches next grid line, this trade is closed with loss (this is called "trade SL") and a martingle trades is opened in the direction (SELL in this example) as per matingale sequence shown above. Martingle factor is user defined in General setting and it usually set “2”.

Now, again price would move in either direction, if it is favorable and reaches next grid line, TP is executed, trading cycle closed and new trading cycle initiated. On the contrary, if prices moves against the trade and reaches next grid line, this trade is closed with loss (this is called "trade SL") and a 4X martingle trades is opened in the given direction (SELL in this example).

The process continues until profit with 8X, 16X, 32X, 64X, 128X, 256X, 512X, 1024X, 2048X and upto 4096X in same fashion as described above. Each martingale trade is Buy or Sell as specified in sequence shown for this trading module. A trading cycle can also be terminated at any user-defined martingale trade (for example 128X, 256X, ..2048X etc.) to cut-off the trading cycle and it is called "cut-off SL". EA shall have option to set/change cut-off SL.

Once trading cycle is closed due to either TP or cut-off SL, new trading cycle is initiated under the title of Trading module no. 1 and similarly for trading module 2,3.....240. Each trade from 1 to 240 is independent of each other. Tarde TP and Trade SL shall be in proportion to martingale factor. 

Trading module no. 2, 3, 4 ....240  is same above except difference in martingale sequence which is shown under for module no. 2, 3, 4,5 as an example;

Trading module no. 2 "SELL BUY BUY SELL BUY SELL BUY SELL BUY BUY BUY SELL BUY"

Trading module no. 3 " BUY BUY BUY SELL BUY BUY SELL BUY BUY SELL BUY SELL BYE"

Trading module no. 4 "SELL BUY SELL SELL BUY SELL BUY BUY SELL BUY BUY SELL BUY"

Trading module no. 5 "BUY BUY SELL BUY BUY SELL BUY BUY SELL BUY BUY SELL BYE"

....................so on and so forth for upto Trading module no. 240. This sequence is user-defined and can be changed. EA should have provision to set any sequence. EA should have provision to set/change trading sequence from trading module 1, trading module 2 ..... to trading module 240.

Each Trading module has its own and independent setting  as exemplified above. And all modules work independetly and simultaneously. 

Thus opening a trade is initiated upon launching of EA within each trading module which are enabled to trade. Trade is closed due to TP or cut-off SL and next trading cycle is again opened in each trading module. 

EA would be applicable to the chart at which it is applied.  It would be compatible with MT5 and come with interface settings or APIs as required.

Please let me know if further explanation is required or you suggest to add additional features or settings.

Kind regards,

Mazher Anwar