LogicalTraderEA is a Hedging expert advisor which uses a grid recovery strategy.
LogicalTraderEA trades on all types of pairs. It works most efficiently on an account with a high margin, which plays a huge role in any strategy. The user has to be able to consider withdrawal as a part of the strategy.
This EA works on all time frames without losing its efficiency, but it works most efficiently in the H1 time frame. I have already set the most optimal default parameters in accordance with the strategy.
It is highly reliable, as it has been developed considering trading on a real account.
The initial trade will open if it crosses above the resistance line and below the support line of the time frame you have attached on the EA. Recovery trade will open if it is above the "Sell above line" and below the "Buy below line"
It will automatically close via trailing stop.it is optimized to the best settings to adapt to any time frame and symbol. Long trades will only trail if open trade size of buy is greater than short trades, and short trades will trail if it is greater than long trades.
Aggressiveness will depend on the time frame you have attached the EA; the lower the value, the more aggressive.
I Added Close All Button on the chart that close all trade that made by this EA on the chart.
The EA will automatically reject an order, if the margin is not enough or the Maximum number of order allowed by your broker is reached.
Attach it to multiple pairs to diversify your account. I recommend 6 - 10 pairs if you have an account balance of more than $1000 with X 500 leverage or more.
- MagicNumber - return an identifying (magic) number of the currently selected order.
- Max Slippage - The difference between the expected price of a trade, and the price the trade actually executes at which you allow the EA to execute an order.
- Support && Resistance Period - the period of bars the line of support and resistance will base its value from the current bar.
- next open trade of grid after close bar - will only open next trade of grid after close bar count.
- Relative Minimum Level Distance - The relative minimum distance on which the recovery trade will open, Buy below and Sell above level.
- 1. Last Open Trade Price - Calculates the minimum distance relative to the last open trade price.
- 2. Average Price - Calculates the minimum distance relative to the average price.
- Minimum Distance Multiplier-The multiplier of which the minimum level distance is calculated. "Average true range X Multiplier."
- Virtual Stop Order - Activate or Deactivate Virtual Stop Order.
- Virtual Stop Distance Multiplier - Multiplies the distance of stop order relative from the highest buy and lowest Sell. Highest buy + (ATR*Multiplier) + or Lowest Sell - (ATR*Multiplier).
~~~~~Lot Sizing Settings~~~~~
- Starting Lot Option - The Option to choose Fix or Account Balance Sizing;
- 1. Fix - Fix initial trade size.
- 2. Account Balance Sizing(.01 per Account balance) - calculates initial trade relative to account balance, "(Account balance / Input) * .01"
- Multiplier - multiples the initial lot size to the total trades count.
~~~~~Time and Day Filter Settings~~~~~
- Daily Start Time - hour starts to open a trade.
- Daily Stop Time- hour ends to stop opening a trade.
- Monday - allow the EA to trade on Monday.
- Tuesday - allow the EA to trade on Tuesday.
- Wednesday - allow the EA to trade on Wednesday.
- Thursday - allow the EA to trade on Thursday.
- Friday - allow the EA to trade on Friday.
- Equity Trail Profit All Target % -Target equity % to activate the Equity trailing stop.
- Equity Trail Profit All Stop % - The subtrahend of the "Trail profit all target" to get the equity stop loss.
- Function Call Timer - The frequency of the event occurrence.
Function Call timer will only be adjusted if your terminal can not set millisecond timer.
Genesis Hafalla is a programmer who aims to create products both the MetaTrader 4 and MetaTrader 5 platforms.
Added logic equity trailing stop - if total equity % reaches the target profit it will close all trade in the entire terminal if equity % crosses below (Equity Trail Profit All Target % minus Trail Profit All Stop %).
next open trade of grid after close bar = will only open next trade of grid after close bar count.
Virtual Stop Order = Activate or Deactivate Virtual Stop Order.
Virtual Stop Distance Multiplier = Multiplies the distance of stop order relative from the highest buy and lowest Sell. Highest buy + (ATR*Multiplier) + or Lowest Sell - (ATR*Multiplier).
Equity Trail Profit All Target % = Target equity % to activate the Equity trailing stop.
Equity Trail Profit All Stop % = The subtrahend of the "Trail profit all target" to get the equity stop loss.
Example: if "Equity Trail Profit All Target %" is 10% and "Equity Trail Profit All Stop %" is 2%, 10% minus 2% is 8%, if Equity % crosses below 8% all trades in the terminal will close.
if the equity profit moves in favor to 11% minus 2% the new equity stop loss is 9%.
Relative Minimum Level Distance - The relative minimum distance on which the recovery trade will open.
1. Last Open Trade Price - Calculates the minimum distance relative to the last open trade price.
2. Average Price - Calculates the minimum distance relative to the average price.
Minimum Distance Multiplier-The multiplier of which the minimum level distance is calculated. "Average true range X Multiplier."
Added alert info:
alert info on opening order
1. Lot Size:
2. Account Balance:
3. Account FreeMargin:
4. Account Margin: "
5. Todays Profit: "
Added time and day filter.
Changes lot-sizing logic.
added line for average price.
improve the trailing stop function.
faster execution using function call time.
improve the entry logic by using the mid-price of ask and bid to work better on widening spread scenarios.
removed the dashboard.
removed unnecessary settings.
Optimized trailing stop deactivates if it detects a breakout to maximize profit. Aggressiveness will depend on the time frame you have attached the EA; the lower the value, the more aggressive.
Added close All button on the chart.
MoneyManagement - Fix lot, Lots Increment, Lot Sizing Increment.
StartingLot - Starting Lot Size.
1lot for every__ - Set your custom lot sizing.
Maximum Account Balance - the EA will not trade if balance is above value.
Minimum Account Balance - the EA will not trade if balance is below value.
Info Dashboard Settings
ShowDashboard - Show Info Dashboard if set to true.
Profit Color - choose the color for profit.
Loss Color - choose the color for loss.
text color - choose the color of text.
Now uses Average True Range as distance recovery and moving average as trailing stop.
Removed all unnecessary object to increase speed.
*LotsMultiplier - Compute the lot Size by Counting total trades count multiply by Fixlot.
Added an Input Customized Maxlot.
*CustomMaxlot-Input desired Maxlot when Position Sizing and lots multiplier are activated
-An Object Info for the Next Lot to open and Open Trade Size
-I removed PosLotstep option 1 and preset it to .01
-money management is now preset to fixlot .01 or the broker's minimum lot
-I added position sizing balance/1000
-I also added an input for MaxSlippage, which refers to the difference between the expected price of a trade and the price at which the trade is actually executed.