Grid Expert Advisor MT4

Grid EA requirement

The EA will enter the first trade when price is above/below moving average or when the RSI is overbought and oversold, if there first trade does not hit the take profit level instead of using stop loss, it starts building grids trade with the hope that price will retraces and the EA will average and close at profit target

Parameter explanation

 I have setup the input   I expect to see in the parameter, some are straight forward, I will elaborate more on the difficult ones

First when the EA is place on the chart, I should be able to see all details on the chart, especially the amount I am risking, the take profit amount, the expected closure line. Breakeven close should be on the chart

The ( select ) means  options for me to choose in the other column.

Allow trade direction for buy/sell means that the EA can entered buy and sell trade when MA is above/below MA or with RSI when price is over/undersold.

buy only and sell only means that the EA will focus only on one direction at a time

note: the EA does not hedge.

Price gap is the price level at which the EA will add another trade to the grid when price goes against the initial entering.

START LEVEL FOR PRICE GAP SCALLING pips means that If I  set the EA to increase or decrease the gap size at any grid level ,example let say ,I  set to increase by 10pips as from 5^th grid level  ,means that if the initial gap size  from 1^st to 4^th  grid was 30 pips, the 5^th grid  =40,6^th =50,7^th =60,8^th=70 ,9^th=80,10 =90 etc .each grid level there is an addition  10 pips increase. I can as well set to decrease by 10 pips.

Pruning means is also a tool to manage risk.it means that when the grid level increase to a certain level, the EA will aim to average the first trade and the last trade when price retraces and close at a breakeven i.e. when price >=0, example if there are 4 top up in the grid starting with lot size of 0.01,   0.02, 0.03,   0.04, 0.05 assuming we are using lot addition  ,In this case  pruning at 5 means that any lot after 0.06 upward, we are not aiming to make profit on it 

Pruning at 5 for example means after the next lot of 0.06, the EA will constantly be aiming to reduce the grids level back to 4 using FIFO method and averaging any lot from 0.06 upward with the lowest lots i.e. average 0.01 with o.06 when price retrace and close at breakeven

If after that price continue to goes against the trend, the next grids level will be 0.07,0.08,0.09,0.1 etc

If price only retrace at the price grid of 0.1, the EA will aim to average the next minimum lots which is  0.02 with 0.1 and close at breakeven. The EA should be able to scale lower lots of  0.02 lot into two equal half, ie 0.01 and 0.01, so that one part can be average with the biggest  lots in the grid, the scaling is a continues process until all the trade in the grid are close

If pruning fails to manage the risk and price continue to goes against the trend, if drawdown reaches a certain amount or percentage of total equity, the EA should close partial amount or percentage of trade using FIFO    i.e. starting with the oldest trade. This will be a routing process when drawdown reaches a certain level