Keltner Grid Scalper MT5 EA

Key Features

Keltner Channel Signals: Entries occur on crossovers of the Keltner bands, checked against prior bar conditions. For buys, the current bar closes above the lower band after a qualifying prior bar. For sells, the current bar closes below the upper band after a qualifying prior bar.

Grid Trading with Basket Management: Trades are grouped into baskets, with a maximum number set by the user. Grid positions are added at set intervals with a lot multiplier. Each basket has a unique magic number. 

Breakeven and Take-Profit Adjustments: After grid additions, a weighted breakeven price is calculated, and take-profit shifts to an offset. Initial take-profit is a fixed distance.

Trailing Stop for Initial Trades: If enabled, trailing stops apply to the first position in a basket after a minimum profit, trailing by a set distance. Trailing does not apply to grid positions.

Daily Drawdown Protection: Equity is tracked from the start of each day. If drawdown exceeds the set percentage, all positions close, and trading stops for the day.

Dashboard: An on-chart panel shows symbol, timeframe, Keltner values, active baskets, total positions, equity, balance, free margin, and daily drawdown. Position, font size, and visibility are adjustable.

Risk Management Checks: Validates lot size, margin, volume limits, and trade levels before opening positions.

Grid Lines: Draws horizontal lines on the chart for next grid levels (blue for buys, red for sells).

No Stop-Loss by Default: Relies on grid recovery and drawdown controls.

Indicator Integration: Uses a resource Keltner Channel with configurable period, ATR length, and deviation.

How It Works

1. Signal Generation: On new bars, checks for Keltner crossovers with validation from the previous bar.
2. Initial Position: Opens a trade with starting lot size and sets take-profit. New signals create separate baskets.
3. Grid Addition: Adds positions if price moves against the trade by the grid spacing, using multiplied lots.
4. Basket Management: Positions close at take-profit or via trailing on initials. After grids, take-profit adjusts to breakeven plus offset. Inactive baskets are removed.
5. Risk Monitoring: Closes positions and pauses trading if daily drawdown limit is hit.
6. Dashboard Updates: Refreshes on new bars or position changes.

Input Parameters

General Settings:

• Initial Lot Size
• Base Magic Number
• Take Profit Points
• Grid Size Spacing
• Lot Multiplier
• Breakeven Points
• Max Active Baskets
• Max Daily Drawdown
• Use Trailing Stop
• Min Profit Points to Trail
• Trailing Points

Keltner Settings:

• Period Length for EMA
• ATR Length
• Band Multiplier

Dashboard Settings:

• Show Dashboard
• X/Y Position
• Font Size